News & Analysis as of

Investment Capital Markets

Ropes & Gray LLP

Capital Markets & Governance Insights - October 2024

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SEC Developments - In Twin Actions, SEC Charges Former Kubient CEO for Fraud and Former CFO and Audit Committee Chair for Failing to Investigate and Perpetuating CEO’s Fraud....more

Snell & Wilmer

SEC Division of Examinations Priorities for 2025: Examinations Will Prioritize New Rules for Form PF and Regulation S-P, Fiduciary...

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On October 21, 2024, the Division of Examinations (the “Division”) of the U.S. Securities and Exchange Commission (the “SEC”) issued its annual examination priorities for fiscal year 2025. As with its 2024 examination...more

McDermott Will & Emery

Private Markets Update | Summer 2024

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The Private Markets Update highlights key developments emerging from private markets across Europe, the UK and the United States, exploring the cross-border issues that matter to investors and sponsors in alternative assets. ...more

Morgan Lewis

Corporate Venture Capital Survey: Q2 2024

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Corporate Venture Capital (CVC) slowed to its lowest share of total VC deals since 2014 in the second quarter of 2024. Only 23.3% of deals that were completed include a CVC investor in Q2. Pitchbook data shows that just over...more

A&O Shearman

UK Financial Conduct Authority Updates Timings on Smarter Regulatory Framework Work

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Consumer Composite InvestmentsThe FCA plans to publish a consultation paper in H2 and a policy statement in H1 2025. Long Term Investment FundsThe FCA will review responses to its consultation on removing references to LTIF...more

White & Case LLP

Looking at all the angles: incremental debt incurrence flexibility in detail

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From large cap syndicated deals to mid-market private credit, whether in loans or in bonds, the ability for borrowers to incur material incremental debt is commonplace. However, when you look beyond the headline ratios and...more

White & Case LLP

Growing government influence shapes the global business climate

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Governments are intervening to an ever-greater degree in market activities through a growing array of regulatory mechanisms, as well as through direct intervention. The justifications range from notions of national security...more

White & Case LLP

Tepid UK & European private capital markets spur unicorns into inorganic opportunities

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3 reasons for continuously high fintech M&A activity levels: Banks target indirect digital access: Through credit lines, investments in venture capital funds, collaborations with innovators and establishment of next...more

Carey Olsen

Cayman Islands investment funds

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Over the past 25 years, the Cayman Islands has become a pre-eminent jurisdiction for the formation of alternative investment funds, with around 13,000 regulated open-ended funds and 16,000 regulated closed-ended funds. The...more

Arnall Golden Gregory LLP

AGG Talks: Cross-Border Business Podcast - Episode 19: The Rise of Korean Investment in the Southeast U.S.

In this episode, Mike Burke, AGG Corporate partner and co-chair of the firm’s International practice, is joined by AGG International Arbitration partner Lance Lee to discuss Korea’s booming investment in the southeastern...more

A&O Shearman

Regulatory monitoring - September 2024

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1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EC: Report on the future of European competitiveness Status: Final - The EC has published a report on the future of European competitiveness,...more

White & Case LLP

Sector trends - September 2024: Stock Exchanges / Clearing Houses / Trading Venues

White & Case LLP on

Cautious deployment of M&A war chests while concerns relating to IPO and equity market trading buoyancy continue. Current market: Fewer M&A deals as Europe's FMI tectonic plates digest acquisitions of yesteryear...more

White & Case LLP

Return of the megadeal: Big business powers US M&A

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The string of megadeals announced in the first half of 2024 reflect a growing confidence among US dealmakers. But can the bull run be sustained? Megadeals were firmly on the agenda in H1 as more stable inflation and...more

Moore & Van Allen PLLC

Italian Reforms Reward Long-Term Investors with Voting Power

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On March 27, 2024, the Italian legislature implemented reforms to support the competitiveness of the Italian capital markets and attract investors, in line with the 2022 guidelines issued by former Prime Minister Mario...more

White & Case LLP

Other Financial Services - UK & European Financial Services M&A: Sector Trends H2 2023 | H1 2024

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Asset / Wealth Management - Current market: Consistently high M&A activity levels - We are seeing: Europe’s barbell becomes more pronounced—larger asset / wealth managers swallow smaller competitors at pace: -...more

Troutman Pepper

Stripe Shows Signs of IPO, Despite CEO Comments

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Stripe has options to provide liquidity to investors beyond an IPO, one of which is a stock buyback, said James Stevens, a partner at the law firm Troutman Pepper who works with fintech companies. But “that takes away money...more

White & Case LLP

Land of the rising dissension: Japanese shareholder activism in focus

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A perfect storm of volatile market conditions and investor demands is brewing in Japan, fostering an environment ripe for increased shareholder activism in 2025 - Global shareholder activism surged in the first half of...more

Alston & Bird

CFTC Amends Regulation 4.7, Increasing Dollar Threshold for QEP Qualification and Codifying Monthly Reporting Option for Funds of...

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Our Investment Funds Group examines how the Commodity Futures Trading Commission (CFTC) has amended Regulation 4.7 to increase investor suitability standards and provide additional flexibility for funds-of-funds reporting....more

Foley Hoag LLP - Energy & Climate Counsel

Catalyzing Action: How Catalytic Capital Can Help Unlock Trillions in Climate Investment

Last month, after a meeting with the G20 financing ministers, U.S. Treasury Secretary Janet Yellen announced that US$3 trillion of additive capital investment will be necessary each year (above and beyond business as usual)...more

A&O Shearman

Regulatory monitoring - August 2024

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EBA: Opinion on measures in accordance with Article 458 CRR following a notification by the De Nederlandsche Bank - Status: Final - The EBA has...more

A&O Shearman

Regulatory monitoring: EU version Newsletter - August 2024

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION a) General - (i) EU - EBA: Opinion on measures in accordance with Article 458 CRR following a notification by the De Nederlandsche Bank - Status: Final - The EBA has published an...more

Foley Hoag LLP

SEC Updates “Qualifying Venture Capital Fund” Threshold for Section 3(c)(1) Exemption Under the Investment Company Act

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The two most common exemptions from registration under the Investment Company Act of 1940 (the “Act”) utilized by private funds are under Section 3(c)(7) and Section 3(c)(1). Funds that do not qualify for an exemption under...more

White & Case LLP

High yield issuance climbs, but markets still seek direction

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High yield activity in the US, Europe and APAC revives after a tricky period, but markets remain uncertain moving into the final months of 2024 High yield bond issuance across the US, Europe and APAC rallied in H1 2024....more

Jones Day

Hong Kong Modifies Listing Rules of Specialist Technology Companies and De-SPAC Transactions

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The Stock Exchange of Hong Kong Limited ("HKEx") and the Securities and Futures Commission ("SFC") have announced temporary changes to the Hong Kong Listing Rules regarding the minimum initial market capitalization of...more

Mayer Brown

The Intersection of NAV and Margin Loans: Single Asset and Concentrated Asset Pools

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Executive Summary - Over the last several years, a need has arisen in the fund finance market, which caters to private equity, venture capital, family offices, and other investment funds (“Funds”) and their sponsors, for...more

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