Firm News | November 1, 2021
The Cayman Islands Tax Information Authority (the “TIA”) has recently extended the deadline to register on its AEOI Portal. The deadline is now May 29, 2015. The original deadline was March 31st, but has been extended several times. Cayman Islands funds must also report certain information, including name, address, TIN, and account balance, on specified…
Client Alerts | May 22, 2015 | Hedge Funds
Every five years, the Bureau of Economic Analysis (“BEA”) of the U.S. Department of Commerce conducts a comprehensive Benchmark Survey of U.S. Direct Investment Abroad (“Form BE-10” or “Survey”). Every “U.S. Person” that owns or controls a “Foreign Affiliate” during such U.S. Person’s 2014 fiscal year must file Form BE-10 by May 29, 2015 (or…
Client Alerts | May 19, 2015 | Hedge Funds
Marc Rosen examines the recent cases that have reduced the impact of Newman on insider trading enforcement. Read the full article here.
Attorney Articles | May 14, 2015 | Hedge Funds
On Friday, May 8, 2015, the Securities and Exchange Commission issued guidance to its staff to assist in determining whether to bring enforcement actions in federal district court or as administrative proceedings before an Administrative Law Judge. The administrative proceedings have become highly controversial in recent years, as many defendants in the proceedings have complained…
Client Alerts | May 11, 2015 | Hedge Funds
Senior counsel for the Treasury Office of Tax Legislative Counsel announced today that the effective date for proposed regulations regarding U.S. withholding tax on dividend equivalent payments (e.g., payments on certain equity swaps or other derivatives referencing U.S. equity securities) has been postponed for one year from January 1, 2016, to January 1, 2017. As…
Client Alerts | May 8, 2015 | Hedge Funds
This legal update highlights certain important upcoming FATCA compliance deadlines for Cayman Islands funds (i.e., offshore standalone funds, offshore feeder funds, and offshore master funds). Register with the Cayman Islands on or before April 30, 2015. Each Cayman Islands fund must register with the Cayman Islands on or before April 30, 2015. Funds must register…
Client Alerts | April 7, 2015 | Hedge Funds
The Co-Chief of the Securities and Exchange Commission’s Asset Management Unit (the “AMU”) recently provided a revealing and important glimpse into the SEC’s priorities in bringing enforcement actions in the investment fund community. Julie M. Riewe gave an overview of the AMU’s capabilities and accomplishments in the five years since it was formed, and provided…
Client Alerts | March 3, 2015 | Hedge Funds
While recent news has been about decisions which potentially limit liability in insider trading cases, little attention has been paid to one which potentially expands the reach of the securities fraud statutes. In Stratte-McClure v Morgan Stanley, the Court of Appeals for the Second Circuit recently held that mere silence in a required public filing…
Client Alerts | February 18, 2015 | Securities and Corporate Finance | Hedge Funds
The Federal Trade Commission (the “FTC”) is required to annually revise the jurisdictional thresholds for notifications of certain mergers and acquisitions under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), based on the change in gross national product for the preceding fiscal year. For 2015, the initial notification threshold will be…
Client Alerts | February 4, 2015 | Securities and Corporate Finance | Hedge Funds
On January 22, 2015, a federal district court, in U.S. v. Conradt, vacated the guilty pleas of four men accused of insider trading. This decision is the first to follow U.S. v. Newman, the recent landmark appellate ruling limiting the government’s ability to pursue insider trading cases. In the course of granting the defendants’ motions…
Client Alerts | January 26, 2015 | Securities and Corporate Finance | Hedge Funds
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