In May 2016, the Allied Security Trust, a non-profit industry group, announced the launch of the Industry Patent Purchase Program, otherwise known as IP3.
SEC Announces Settlement with Investment Advisory Firm Regarding Alleged Failure to Disclose Costs to Investors
On July 14, 2016, the Securities and Exchange Commission announced the settlement of an enforcement action against RiverFront Investment Group (“RiverFront”), an investment advisory firm, for failing to properly prepare clients for transaction costs.
The US Department of Commerce announced that it will begin accepting applications for Privacy Shield certifications beginning on August 1.
On July 19, the European Securities and Markets Authority (ESMA) published its long-delayed and much anticipated advice to the European Commission (Commission) in relation to the extension of the Alternative Investment Fund Managers Directive (AIFMD) marketing passport to non-EU Alternative Investment Fund Managers (AIFMs) and Alternative Investment Funds (AIFs).
On July 14, the European Commission (Commission) adopted several delegated regulations (Delegated Regulations) to supplement the amended and restated Markets in Financial Instruments Directive (MiFID II), and the Markets in Financial Instruments Regulation (MiFIR), respectively.
On July 4, the UK Financial Conduct Authority (FCA) published its quarterly consultation paper (Quarterly Consultation), which details proposed amendments to the FCA Handbook.
With the recent approval of the EU-US Privacy Shield framework and the ability to start filing online registrations on 1 August, many companies have questions about the advantages and disadvantages of Privacy Shield as compared to other cross-border transfer mechanisms to cover trans-Atlantic data flows.
Justice Perell’s July 7, 2016 decision in Berg v. Canadian Hockey League is the most recent development in the evolving law surrounding the role of third party funders in Canadian class proceedings, and in particular the role of defendants in motions for approval of third party funding arrangements.
PSR Consults On Guidance On Its Approach to Handling Applications Under Sections 56 and 57 of the Banking Reform Act
The Payment Systems Regulator (PSR) has published Consultation Paper 16/4: Our Approach to handling applications under sections 56 and 57 Financial Services (Banking Reform) Act 2013 (FSBRA) (CP16/4).
1. Crowd-sourced equity funding (or “CSF”) is…