Firm News | November 1, 2021
Late last week, the Department of Treasury (“Treasury”) released a new interim final rule (the “Interim Final Rule”) relating to the administration of the paycheck protection program (“PPP”) under the CARES Act. The Interim Final Rule limits the amount any corporate group can receive under the PPP to $20,000,000. The full text of the Interim…
Client Alerts | May 6, 2020 | Hedge Funds | Private Equity Funds | Securities and Corporate Finance
Private funds associate Rita Fitch to serve on inaugural junior advisory board comprised of rising stars; Women in Funds looks to promote female leadership in private investment funds space Premier boutique law firm Kleinberg Kaplan announced that private funds associate Rita Fitch has been named to the junior advisory board for WOMEN IN FUNDS, a…
Firm News | March 30, 2020 | Hedge Funds | Private Equity Funds
Premier boutique law firm Kleinberg Kaplan announced that it has been recognized by Chambers Global 2020 for its work on behalf of the world’s leading hedge funds and alternative investment funds. The firm was ranked in the “Investment Funds: Hedge Funds in USA” category, and co-leader of the firm’s hedge fund practice, Jamie Nash, was…
Firm News | February 19, 2020 | Hedge Funds
On January 1, 2020, amendments to the Financial Industry Regulatory Authority, Inc. (“FINRA“) Rule 5130 (Restrictions on the Purchase and Sale of Initial Equity Public Offerings) and Rule 5131 (New Issue Allocations and Distributions) came into effect [1]. Per the U.S. Securities and Exchange Commission (“SEC“), the rule changes “exempt additional persons and offerings, modify…
Client Alerts | February 11, 2020 | Hedge Funds | Private Equity Funds
Recently, the U.S. Commodity Futures Trading Commission (the “CFTC”) approved amendments to Regulations 4.5, 4.7, 4.13, 4.14, and 4.27 that will impact investment managers that are operating funds that fall within the definition of a commodity pool. These new regulations will take effect on January 9, 2020.[1] Some key highlights of the amendments include: •…
Client Alerts | January 6, 2020 | Hedge Funds
Earlier this month, the Federal Trade Commission (“FTC”), with the concurrence of the Antitrust Division of the U.S. Department of Justice, published in the Federal Register proposed changes to the Hart-Scott-Rodino Act (“HSR Act”) regulations regarding foreign entities. The proposed changes are intended to simplify the determination of whether an entity is a foreign person…
Client Alerts | November 18, 2019 | Hedge Funds | Securities and Corporate Finance
The Data Protection Law, 2017 (the “DPL”) will become effective on September 30, 2019 in the Cayman Islands. The DPL aims to provide a level of privacy and disclosure for individuals and entities when their personal data is being used by Cayman Islands entities. Certain violations of the DPL can lead to fines of…
Client Alerts | September 12, 2019 | Hedge Funds
Kleinberg Kaplan partner David Levy offers his insight on how the ruling in SEC v. Benjamin Alderson and Bradley Hamilton may impact attorney-client privilege in Hedge Fund Law Report’s “SDNY: In Absence of Attorney-Client Relationship, Communications With Consultants Who Happen to Be Attorneys Are Not Protected.” To read the full article, click here.
Firm News | August 29, 2019 | Hedge Funds
Section 475(f) of the Internal Revenue Code of 1986, as amended, provides that a trader in securities or commodities can make elections to “mark-to-market” their securities and/or commodities and treat increases or decreases in value as ordinary. A fund must be a trader, and not an investor, in order to be able to make a…
Client Alerts | March 11, 2019 | Hedge Funds
On December 14, 2018, the Office of Compliance Inspections and Examinations (“OCIE“) of the Securities and Exchange Commission (the “SEC“) issued a risk alert (the “Risk Alert“)[1] to remind SEC-registered investment advisers (“RIAs“) of their obligations when their personnel use electronic messaging, such as text messages, instant messaging, personal email or messaging apps, and to…
Client Alerts | January 15, 2019 | Hedge Funds
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