New Law on Private Fund Limited Partnerships in the U.K.
On April 6, 2017, the Legislative Reform (Private Fund Limited Partnerships) Order 2017 (the “Order”) went into affect, amending the U.K. Limited Partnerships Act. The Order creates a new category of limited partnership, the private fund limited partnership (the “PFLP”). A PFLP application must include confirmation by the general partner that the “private fund conditions”... Read more »
New “Special Study” of the Securities Market by Columbia Law and Business Schools
Columbia University Law and Business Schools announced that they will jointly carry out a new “Special Study” of the U.S. securities markets under a grant from the NASDAQ Educational Foundation. The prior “Special Study” was published in 1963, and resulted in a number of significant changes in securities regulation, so there is some interest in... Read more »
Giancarlo Suggests Overhaul of CFTC
President Trump’s nominee for the permanent head of the Commodity Futures Trading Commission (the “CFTC”), J. Christopher Giancarlo, is a Republican and acting head of the CFTC. In a well-received and widely reported speech yesterday to an industry conference, Mr. Giancarlo said he would fix the “flawed” swaps trading rules. He also pledged to streamline the CFTC... Read more »
Federal Jury in California Awards Over $8 Million to General Counsel Whistleblower
Whistleblowers may take heed of a February 2017 jury award to a General Counsel, who had been in his position for 25 years, of $3 million in back wages (which is doubled under the Dodd-Frank Act) and $5 million in punitive damages, for a total of nearly $11 million. The case pitted Sanford Wadler against Bio-Rad Laboratories Inc.,... Read more »