Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
9/12/2024
/ CFTC ,
Cryptoassets ,
Digital Assets ,
EU ,
Final Rules ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Investment Adviser ,
Securities and Exchange Commission (SEC) ,
UK
In recent years, the US Securities and Exchange Commission (SEC) has initiated several probes into how advisory firms manage their cash sweep programs, which are designed to transfer idle cash from investment advisory...more
The US Supreme Court recently issued a decision in Mallory v. Norfolk Southern Railway Co holding that a Pennsylvania statute requiring corporations to "consent" to suit in Pennsylvania courts in order to register to do...more
8/2/2023
/ Commerce Clause ,
Constitutional Challenges ,
Due Process ,
Foreign Corporations ,
Fourteenth Amendment ,
General Jurisdiction ,
Mallory v Norfolk Southern Railway Co ,
Out-of-State Companies ,
Pennsylvania ,
Personal Jurisdiction ,
Principal Place of Business ,
Registration Requirement ,
SCOTUS
A DC Circuit Court of Appeals challenge to a recent Financial Industry Regulatory Authority (FINRA) enforcement action brings into question whether FINRA should be held accountable to constitutional restrictions on state...more
On Friday, the Supreme Court ruled five to four that a district court is required to stay pre-trial and trial proceedings while a decision on interlocutory appeal as to the question of arbitrability is ongoing. In an opinion...more
6/28/2023
/ Arbitration ,
Automatic Stay ,
Certiorari ,
Coinbase ,
Coinbase Inc v Bielski ,
Cryptocurrency ,
Federal Arbitration Act ,
Griggs v Provident Disc Co ,
Interlocutory Appeals ,
Motion to Compel ,
SCOTUS ,
Stays
On September 10, 2015, the US Court of Appeals for the Second Circuit issued a decision with significant implications for purported whistleblowers and their employers—Berman v. Neo@Ogilvy LLC, WPP Group USA, Inc., No. 14-4626...more
Recent decisions by the US Court of Appeals for the Third Circuit and the Delaware Court of Chancery have raised important issues regarding fee advancement bylaws or policies of Delaware corporations.
...more
7/21/2015
/ Appeals ,
Attorney's Fees ,
Board of Directors ,
Bylaws ,
C-Suite Executives ,
Contract Drafting ,
Corporate Officers ,
Criminal Prosecution ,
Delaware General Corporation Law ,
Goldman Sachs ,
Indemnification Clauses ,
Insider Trading
On August 21, the US Court of Appeals for the Second Circuit decided two closely watched appeals regarding the intersection of Financial Industry Regulatory Authority, Inc. (FINRA) rules mandating arbitration of...more
On August 21, the US Court of Appeals for the Second Circuit decided two closely watched appeals regarding the intersection of Financial Industry Regulatory Authority, Inc. rules regarding mandatory arbitration of disputes...more
In this issue:
- Oregon State Court Refuses to Enforce Forum Selection Bylaw
- SEC Announces Pilot Program to Widen Tick Sizes for Smaller Companies
- NFA Issues Notice Setting Effective Date for Risk...more
9/2/2014
/ Arbitration ,
Attorney's Fees ,
CFTC ,
Compliance ,
Confidentiality Agreements ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Forum Selection ,
Mandatory Arbitration Clauses ,
NFA ,
Restrictive Covenants ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Shareholder Litigation ,
Shareholders ,
Small Business
In Parkcentral Global Hub Ltd,. et al. v. Porsche Automobile Holdings SE, et al., Dkt. No. 11-397-cv (2d Cir. Aug. 15, 2014), the US Court of Appeals for the Second Circuit affirmed the lower court’s dismissal of plaintiffs’...more
In this issue:
- ISS Launches New Equity Plan Data Verification Portal
- ISDA Publishes Protocol for 2014 Credit Derivatives Definitions
- FinCEN Issues Advisories for US Financial Institutions
-...more
8/25/2014
/ CFTC ,
Class Action ,
Class Certification ,
Compliance ,
Contests & Promotions ,
Derivatives ,
EMIR ,
Equity Plans ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
FinCEN ,
Fraud ,
Institutional Shareholder Services (ISS) ,
ISDA ,
Judge Rakoff ,
OCC ,
Rule 10(b) ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
SEFs ,
Social Media ,
Swap Dealers ,
Swaps
On May 15, the US Court of Appeals for the Second Circuit issued a summary order in a closely watched case regarding the circumstances in which a broker dealer may be compelled to arbitrate with an institutional counter-party...more
In this issue:
- Delaware Legislation Banning Fee-Shifting in Bylaws and Charters
- CFTC Proposes to Amend De Minimis Threshold for Swaps with Utility Providers
- CFTC Grants Recordkeeping Relief for...more
6/2/2014
/ Arbitration ,
Broker-Dealer ,
Bylaws ,
CFTC ,
Commodities ,
De Minimis Claims ,
Derivatives ,
Fee-Shifting ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
Fraud ,
Instrumentality ,
Mandatory Arbitration Clauses ,
SEFs ,
Swaps ,
Utilities Sector
A US District Court in the Southern District of New York recently ordered Bank of China Limited (BOC) to produce thousands of documents that the court found not to be protected by the attorney-client privilege or work-product...more
On November 20, 2013, US District Judge Paul G. Gardephe of the US District Court for the Southern District of New York issued a decision with potentially significant consequences for attorneys conducting internal...more
On September 30, 2013, the US Securities and Exchange Commission (SEC) Division of Trading and Markets issued Frequently Asked Questions (FAQs) in an effort to provide guidance regarding potential supervisory liability of...more