The Securities and Exchange Commission (the “SEC”) announced a whistleblower award of more than $27 million, representing the largest SEC whistleblower award of 2020. This is the sixth largest award overall since the inception of the SEC whistleblower program in
Corporate & Commercial
UPDATED FINANCIAL ASSISTANCE FOR SMALL BUSINESSES IN NEW YORK
In a previous article, we laid out initial financial assistance available for small businesses in New York affected by the COVID-19 pandemic. As of April 23, the U.S. Congress has passed H.R. 266, the Paycheck Protection Program and Health…
FCA Webpage on Financial Advisers’ Professional Indemnity Insurance
On April 21, the UK’s Financial Conduct Authority (FCA) published a new webpage (the Webpage) setting out its position on the impact of the COVID-19 pandemic on professional indemnity insurance (PII) for financial advisers.…
Industry Insights: Consumer Products Companies Reconfiguring Production Lines to Meet New COVID-19 Needs
Consumers’ response to COVID-19 has led to increased demand for personal protective equipment and other much-needed supplies to aid consumers and healthcare professionals in the fight against the disease. Alcohol-based hand sanitizer is one such product, with the U.S. Centers…
London Weekly Fireside Chat
Katten is excited to announce a weekly, 15-minute fireside chat series featuring London partners Carolyn Jackson, Nathaniel Lalone and Neil Robson on notable UK and European developments from the prior week’s Corporate & Financial Weekly Digest. Please join us…
FINRA Updates Guidance Regarding COVID-19 Developments
In recent weeks, the Financial Industry Regulatory Authority (FINRA) has offered various forms of relief and published information in response to the latest COVID-19 developments. Most recently, FINRA:…
Trademark Owners Rejoice: Profit Recovery Possible Without Showing Willfulness
This week, the United States Supreme Court may have made it considerably easier for a trademark owner to recover lost profits from a trademark infringer. Specifically, the Court answered the question, posed in Romag Fasteners, Inc. v. Fossil Grp., Inc.,…
SEC Provides for Phased CAT Broker-Dealer Reporting Timelines
On April 20, the Securities and Exchange Commission issued two orders relating to the implementation of the Consolidated Audit Trail (CAT) to address the impact of COVID-19. In the first order, the SEC allowed broker-dealers to establish a phased CAT…
NFA Published Amendments to Its Advertising Rules
National Futures Association (NFA) has provided limited relief to commodity trading advisors (CTAs) who are also registered investment advisers from compliance with certain portions of NFA Rule 2-29 “Communications with the Public and Promotional Material” and a related Interpretive Notice.…
CFTC Grants Relief to Address Net Capital Treatment of PPP Monies and FINRA Annual Assessments
On April 22, the Commodity Futures Trading Commission (CFTC) published a no-action letter providing guidance for futures commission merchants (FCMs) and introducing brokers (IBs) in connection with calculating the FCM’s or IB’s net capital under CFTC Regulation 1.17. Pursuant to…