Insights and Analysis from the Law Firm Evolved
By Rimon Admin | Dec 08, 2013
It has been widely reported in the media that the federal banking agencies, the Securities and Exchange Commission and Commodity Futures Trading Commission are scheduled to vote on final regulations implementing the Volcker Rule on December 10, 2013. Most recent media coverage has focused on the proprietary trading provisions of the Rule, including speculation that the final regulations will restrict portfolio-level hedging by banks. However, there has been limited coverage of the so-called fund provisions of the Volcker Rule, which generally restrict banks as principal from investing in or sponsoring hedge funds or private equity funds. The following is a preview of several key open questions that will likely be addressed in the final regulations implementing the Rule’s fund provisions. The open questions include the scope of funds covered by the Rule, the extent of the Rule’s extraterritorial reach, the application of attribution provisions to fund of funds and master feeder structures, the conformance date of the Rule, and whether there will be any legal challenges to the Rule.
By Bruce Abramson | Oct 13, 2013
Rimon's Dr. Bruce Abramson writes an article about bitcoins in Forbes, stating that the bitcoin backlash is informed by a quivering status quo.
By Robin Powers | Oct 10, 2013
How will a U.S. default impact the Credit Default Swap Market? ISDA responds...
By David Fruchtman | Oct 10, 2013
Presentation on headline news and trends in state and local taxation in 2013 given by Rimon's David Fruchtman.
By Wade Savoy | Sep 27, 2013
Video from Wade Savoy's CLE webinar on the future of Internet copyright policy from September 24th, 2013. Congress is currently considering whether copyright law needs to be overhauled for the digital era. Despite the explosion in innovation and creativity on the Internet since passage of the DMCA 15 years ago, tensions have been growing between content owners and technology providers, leading to high profile clashes that will impact the future of the Internet, innovation, and creativity. He will review ongoing Congressional hearings and recent cases that set the stage for these policy discussions and future legislation.
By John Isaza | Sep 23, 2013
Video from John Isaza's CLE webinar on the Generally Accepted Recordkeeping Principles (the “Principles”) and other foundational components of information governance from September 17, 2013. In this course, participants will learn about the Principles, and how they can be used to leverage defensible disposition of unnecessary data, while keeping their clients and their own firms compliant with legally defensible policies, procedures and overall practices. Upon conclusion of this webinar, participants will have a firm grasp on requirements for basic records retention and information governance principles, take away a list of Information Governance standards and best practices, and be able to avoid the commonly occurring pitfalls that lead to spoliation sanctions
By Robin Powers | Sep 23, 2013
Video from Robin Powers' CLE webinar on the new regulations governing the use of OTC derivatives in the United States and Europe from September 11, 2013. The different requirements will create new and possibly overlapping compliance obligations for end users who engage in derivatives/ hedging activities in the US and abroad. For many end users, this requires an understanding of the obligations created by Title VII of the Dodd-Frank Act, the European Market Infrastructure Regulation (EMIR) and the application of each to cross border transactions. The webinar covers the key compliance obligations for end users under Dodd-Frank and EMIR and the application of Dodd-Frank and EMIR to cross border transactions.
By Robin Powers | Sep 15, 2013
In order to help market participants establish the procedures required by EMIR, ISDA has released the ISDA 2013 EMIR Portfolio Reconciliation, Dispute Resolution and Disclosure Protocol (the “EMIR Protocol”). But adhering is not the only way to ensure that you will be able to trade with EU financial entities as of the coming deadline.
By Wade Savoy | Sep 13, 2013
A writer (and performer) of the famous "YMCA" song has rocked the music industry by successfully reclaiming the copyrights in many of his works using little known provisions of the Copyright Act of 1976. These provisions allow creators to revoke copyright assignments and again take ownership of their works 35 years after assignment.
By Mark Diamond | May 28, 2013
Marketing to the EU by US Fund Managers and Third-Party Marketing Under AIFMD
The EU Alternative Investment Fund Managers Directive (“AIFMD”) goes into effect on July 22, 2013. AIFMD regulates the marketing of alternative investment funds (“AIFs”) in the EU, directly or through third-party marketers.
Summary of AIFMD
Under AIFMD, EU alternative investment fund managers (“EU AIFMs”) may obtain a passport to market EU funds throughout Europe. The pan-EU passport limits marketing to “professional investors” and, therefore, precludes EU AIFMs from marketing to retail investors. (Retail investors may be able to purchase so-called “UCITS funds” which are not considered to be AIFs and are subject to a separate EU regulatory regime.) EU AIFMs can, subject to certain equivalency requirements, begin marketing their non-EU funds in Europe under the passport beginning in 2015. However, non-EU alternative investment fund managers (“non-EU AIFMs”) will not be eligible to use the pan-EU passport until at least July 2015. Accordingly, from 2013 to 2015, European managers will enjoy a large competitive advantage because they alone will be able to market EU alternative investment funds to European investors under AIFMD.