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Helping Clients Navigate COVID-19 (Updating)

Kleinberg Kaplan is working closely with our clients to provide counsel and guidance during these unprecedented times. A selection of our recent thought leadership pieces related to the implications of COVID-19 includes: Corporate Considerations  The PPP Just Got Better (June 10, 2020): Chris Davis, Dov Kleiner, Uri Rosenwasser and Benjamin Goldman discuss the key highlights of the…

Client Alerts | August 18, 2020 | Business Restructuring and Reorganization | Creditors’ Rights and Bankruptcy Litigation | Derivatives | Distressed Real Estate Assets | Employment Litigation | Estate Planning and Administration | Hedge Funds | Investment Management | Investor Activism | Leasing | Mergers & Acquisitions | Nonprofit and Tax-Exempt Organizations | Private Equity Funds | Securities and Corporate Finance | Special Situations and Credit

SEC Amends Proxy Rules to Tighten Requirements on Proxy Advisory Firms

On July 22, 2020, the Securities and Exchange Commission (the “SEC”) released its much-anticipated final amendments to its rules with respect to proxy voting advice businesses (the “Amendments”). The SEC first issued their proposed amendments concerning proxy advisory firms in November 2019 (the “Proposals”). Overall, the final Amendments represent a more tempered approach to regulation of…

Client Alerts | July 29, 2020 | Hedge Funds | Investment Management | Investor Activism

OCIE Risk Alert – Observations from Examinations of Private Fund Advisers

On June 23, 2020, the staff of the Office of Compliance Inspections and Examinations (“OCIE”) of the U.S. Securities and Exchange Commission (the “SEC”) issued a risk alert (the “Risk Alert”) that provides an overview of certain compliance issues and deficiencies that OCIE has observed in recent examinations of registered investment advisers that manage private…

Client Alerts | July 22, 2020 | Investment Management

SEC Sets LIBOR Transition Preparedness as an Examination Initiative

The LIBOR transition encompasses far-ranging legal issues that impact the investment management industry, including the potential impact on trading and derivatives portfolios, fund performance targets within fund documentation, financing and brokerage arrangements, and a wide range of operational and other issues that need to be considered by managers. Background LIBOR (London Interbank Offered Rate) is…

Client Alerts | July 21, 2020 | Investment Management

SEC Proposes 13F Disclosure Relief for Smaller Investment Managers

On July 10, 2020, the Securities and Exchange Commission (the “SEC”) announced that it had proposed an amendment to Form 13F and Rule 13f-1 to, among other items, substantially increase the reporting threshold for institutional investment managers  (the “Proposal”).1 If the Proposal is adopted, it would be the first amendment to Form 13F since its…

Client Alerts | July 21, 2020 | Hedge Funds | Investment Management | Investor Activism

Kleinberg Kaplan Praised as ‘Wall Street’s best-kept secret’ in Latest Edition of The Legal 500: United States

Premier boutique law firm Kleinberg Kaplan was recognized in the latest edition of The Legal 500: United States for its Investment Funds practice. The firm’s work on behalf of the world’s leading hedge funds and alternative investment funds was praised as “Wall Street’s best-kept secret.” Client testimonials lauded the “impressive” capabilities of the group’s lawyers and…

FEATURED PUBLICATION | June 23, 2020 | Investment Management | Hedge Funds | Private Equity Funds | Real Estate Funds

CFTC Proposes Rule Amendments to Expand Exemptions for Non-U.S. Commodity Pool Operators

On May 28, 2020, the Commodity Futures Trading Commission (“CFTC”) approved proposed amendments to CFTC Regulation 3.10(c), which currently provides a jurisdictional based registration exemption for non-U.S. commodity pool operators (“CPOs”) that operate non-U.S. funds with non-U.S. investors (the “Proposed Amendments”). Historically, the CPO registration exemption available under Regulation 3.10(c)(3) has presented challenges for non-U.S.…

Client Alerts | June 9, 2020 | Derivatives | Investment Management

NY Fed Announces First Subscription and Closing Dates for TALF 2.0 and Provides Expanded FAQ Responses

On May 20, 2020, the Federal Reserve Bank of New York (the “New York Fed”) announced June 17, 2020 as the first subscription date and June 25, 2020 as the first closing date of the Term Asset-Backed Loan Facility (“TALF 2.0”). The Board of Governors of the Federal Reserve System first authorized TALF 2.0 on March…

Client Alerts | May 21, 2020 | Investment Management | Special Situations and Credit

COVID-19: Temporary Form ADV and Form PF Relief Period Extended to June 30, 2020

On March 25, 2020, the U.S. Securities and Exchange Commission (“SEC”) issued an exemptive order (the “Updated Order”1) expanding the temporary regulatory relief from certain Form ADV and Form PF requirements previously granted under its March 13, 2020 exemptive order (the “Original Order”) to investment advisers whose operations may be disrupted by the outbreak of…

Client Alerts | April 2, 2020 | Investment Management