FINRA Issues Proposed Safe Harbor Exemption for Desk Commentary

On April 11, 2017, the Financial Industry Regulatory Authority (“FINRA”) issued Regulatory Notice 17-16 proposing a safe harbor exemption from many of the research rules for certain desk commentary.  Firms may also decide that other desk commentary outside the proposal is not research, but if the desk commentary fits within the safe harbor it will be... Read more »

U.K. May Propose Register of Non-U.K. Companies

On April 5, 2017, the U.K. Department for Business, Energy & Industrial Strategy issued a call for evidence for a register in Companies House of non-U.K. companies that own or buy property in the United Kingdom or that participate in U.K. government procurement.  Responses are due by May 15, 2017.  A register of foreign companies... Read more »

U.K. Further Implements MIFID II

In March, the U.K. issued the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2017 (2017/488) (the “Order 1”) and the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2017 (2017/500) (the “Order 2”), implementing part of MIFID II. which is the European Union’s update of regulation of the financial services... Read more »

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 »


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