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Meta v. Bright Data Ruling Has Important Implications for Webscraping Activities by Investment Advisers

On January 23, 2024, Judge Edward M. Chen of the United States District Court for the Northern District of California ruled in META PLATFORMS, INC. v. BRIGHT DATA LTD. (Meta v. Bright Data), granting Bright Data’s motion for...more

SEC Expands Definitions of ‘Dealer’ and ‘Government Securities Dealer’ to Adapt to Modern Market Practices

On Feb. 6, the Securities and Exchange Commission (SEC) announced two new rules that expanded the definition of “dealer” and “government securities dealer” under the Securities Exchange Act of 1934 (Exchange Act). These...more

Alternative Data is Now Mainstream; AI Could Be Next: The 2023 Lowenstein Sandler Alternative Data Report

Alternative data continues to strongly influence the decision-making of investment professionals across all areas of the investment management industry. In a testament to the rising importance of alternative data, the...more

SEC Adopts Rules to Combat Fraud and Undue Influence in the Security-Based Swap Market

On June 7, 2023, the Securities and Exchange Commission (“SEC”) adopted, pursuant to the Securities Exchange Act of 1934 (“Exchange Act”), (i) new Rule 9j-1 to combat fraud, manipulation, and deception in connection with...more

Legal Trading Agreements: As Important Now as in 2008

Although it is unlikely that the recent failure of certain financial institutions will have an impact similar to the collapse of Lehman Brothers in 2008, the current climate does bring to mind that distressed era. In...more

SEC Proposes to Redesignate Custody Rule as New Safeguarding Rule Under the Investment Advisers Act

On February 15, the Securities and Exchange Commission (“SEC”) issued a rule release (“Release” or “Proposal”) that proposes new Rule 223-1 (“Safeguarding Rule”) under the Investment Advisers Act of 1940, as amended...more

The Buy Side’s Blind Spot: Legal Trading Agreements

After the collapse of Lehman Brothers in 2008, buy-side entities were forced to develop a greater appreciation for the legal fine print that governs trading activity with their sell-side counterparts. The dangerously weakened...more

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