Asset Management

  • January 14, 2025

    Latham Grabs Top Spot For 2024 IPOs By Large Margin

    Latham & Watkins LLP guided more initial public offerings than any law firm in 2024, capturing a diverse mix of large listings for companies that seized opportunities to go public as the broader IPO market inched toward recovery, new data shows.

  • January 14, 2025

    Mastercard Agrees To $26M Deal In Hiring Bias Suit

    Mastercard Inc. has agreed to shell out $26 million and change its hiring practices to put to rest a proposed class and collective action alleging sex, gender, race and ethnicity-based employment discrimination, according to a motion filed Tuesday, the same day the workers sued in New York federal court.

  • January 14, 2025

    Crypto Co.'s Lax Compliance Enabled Hackers, Suit Says

    A proposed class action in California federal court accused digital asset exchange OKX of flouting U.S. laws and allowing criminals to launder stolen funds through its platform, including $725,000 worth of crypto looted from the crypto investor leading the suit.

  • January 14, 2025

    4th Circ. Tosses Constitutional Case Against FINRA

    The Fourth Circuit on Tuesday threw out a lawsuit claiming that the Financial Industry Regulatory Authority's in-house disciplinary process is unconstitutional, ruling that it couldn't hear the case until the regulator had finalized its own ruling against the suing broker.

  • January 14, 2025

    Retroactive Foreclosure Rule Bars Suit, Mich. County Says

    A Michigan county has urged a federal judge to toss a proposed class action alleging that it kept surplus proceeds from tax-foreclosed home sales, saying the homeowner bringing the claims hasn't yet used the state's process for securing the proceeds.

  • January 14, 2025

    DOL Finalizes ERISA Voluntary Correction Program Changes

    The U.S. Department of Labor's employee benefits arm has finalized changes to a program allowing retirement plan managers to voluntarily self-correct when they fail to forward employee contributions on time or make other transaction errors, according to a notice the agency posted online Tuesday.

  • January 13, 2025

    NYDFS Launches Staff Exchange With Bank Of England

    The New York Department of Financial Services on Monday launched an international secondment program to allow the department to exchange staff with other regulators, starting with a digital assets-focused exchange with the Bank of England next month.

  • January 13, 2025

    Texas Judge Urged To Halt CFPB Medical Debt Reporting Rule

    Trade groups suing the Consumer Financial Protection Bureau over its new rule banning medical debt from credit reports have asked a Texas federal judge to put a court-ordered hold on the measure while they proceed with their challenge to its legality.

  • January 13, 2025

    Fund Managers To Pay SEC $2M For Overcharging Expenses

    The U.S. Securities and Exchange Commission announced two Colorado-based fund managers and their sole owner will pay over $2 million to settle allegations they breached their fiduciary duties by failing to disclose conflicts of interest regarding certain expenses charged to two private funds. 

  • January 13, 2025

    Investment Firm Seeks Coverage For Hertz Buyback Suits

    An investment adviser said its insurers must provide coverage for underlying actions related to the adviser's involvement in car rental company Hertz Global Holdings Inc.'s stock buybacks, telling a Delaware state court that its primary carrier improperly denied coverage.

  • January 13, 2025

    CFPB Can't Get $43M Fine From Telemarketing Debt Co. Yet

    An Illinois federal judge Friday waited to order the owner of a defunct debt company to pay $43 million for misrepresenting to customers they could eliminate their student loans, pointing to a U.S. Supreme Court decision holding the accused has a right to a jury trial when financial penalties are on the line.

  • January 13, 2025

    Hotel Asset Manager Ashford Settles SEC Cyber Report Suit

    Ashford Inc. has agreed to pay more than $115,000 to settle the U.S. Securities and Exchange Commission's charges that the asset manager failed to properly disclose a cyberattack that led to the leak of hotel customers' personal information.

  • January 13, 2025

    SEC To Collect $63M In Latest Recordkeeping Sweep

    The U.S. Securities and Exchange Commission announced Monday that subsidiaries of Blackstone Inc. and Charles Schwab Corp. were among those swept up in the latest round of recordkeeping fines, promising to collect over $63 million from 12 firms whose employees are accused of discussing business through their personal devices.

  • January 13, 2025

    Tax-Lien Biz Atty Accused Of Duping Bank Can't Touch Money

    A Manhattan federal judge declined Monday to unfreeze assets on behalf of a former compliance lawyer accused of duping a bank into lending his tax-lien investment firm $20 million, complicating his plan to go to trial with private counsel.

  • January 13, 2025

    Natural Gas Exporter Venture Global Gears Up For $2.2B IPO

    Liquefied natural gas producer Venture Global Inc. on Monday launched plans for an estimated $2.2 billion initial public offering, potentially marking the year's first billion-dollar-plus listing, represented by Davis Polk & Wardwell LLP and underwriters counsel Skadden Arps Slate Meagher & Flom LLP.

  • January 13, 2025

    Latham-Led StepStone Tops $1B For Infrastructure Fund

    Private markets investment firm StepStone Group Inc., advised by Latham & Watkins LLP, on Monday announced it had clinched its inaugural infrastructure co-investment fund and related separate accounts after securing more than $1.4 billion in capital commitments.

  • January 13, 2025

    Justices Won't Review Reversal Of Firm's Tax Penalty Win

    The U.S. Supreme Court let stand Monday a Fifth Circuit decision overturning a jury ruling that a wealth management company didn't owe $579,000 in tax penalties because an employee's mental health problems excused the company's failure to file information returns on time.

  • January 13, 2025

    3 Firms Build Clearwater's $1.5B Buy Of Enfusion

    Software company Clearwater Analytics on Monday unveiled plans to buy investment management and hedge fund industry-focused software company Enfusion in a $1.5 billion deal built by three law firms.

  • January 13, 2025

    Bechtel Escapes 401(k) Suit Alleging Shoddy Default Fund

    A Virginia federal judge dismissed a retiree's suit claiming Bechtel Global Corp. tapped a pricey and underperforming fund for its retirement plan's default investment option, tossing the suit a second time for failing to show that a comparable fund was a better option.

  • January 13, 2025

    BMO Unit To Pay SEC $40M Over Bond Desk Supervision

    BMO Capital Markets has agreed to pay $40 million to end a U.S. Securities and Exchange Commission investigation into the broker-dealer's supervision of its mortgage-back bonds salespeople, with the SEC saying Monday that the brokerage firm failed to stop employees from providing inaccurate information about the bonds.

  • January 13, 2025

    Justices Won't Hear Auto Parts Co.'s ERISA Arbitration Push

    The U.S. Supreme Court declined Monday to review the Sixth Circuit's refusal to force arbitration of a suit accusing an auto parts company of packing its employee retirement plan with subpar investment options.

  • January 10, 2025

    X Fights Finding Severance Row Contract Claims Can Survive

    X Corp. and Elon Musk squared off with ex-Twitter workers in Delaware federal court, filing dueling briefs that took opposing stances over whether a district judge should adopt a recommendation to keep alive some breach-of-contract allegations in the workers' proposed class action claiming they were cheated out of severance benefits.

  • January 10, 2025

    Health Co. Wants To Quit Nicotine Surcharge Suit

    Nonprofit health system Advocate Aurora Health is urging an Illinois federal judge to permanently toss former employees' lawsuit targeting an allegedly illegal tobacco-use surcharge in its health plan, arguing that after three tries they still have failed to bring a viable claim.

  • January 10, 2025

    4 Trends That Will Shape Venture Capital Funding In 2025

    Venture capital funding appears primed to improve in 2025 as market participants shake off the effects of a post-pandemic crash, with surging demand for artificial intelligence, expectations of friendlier government policies, and more exits through public listings and acquisitions.

  • January 10, 2025

    SEC's $93M Win Not Backed By Proof, Adviser Tells 1st Circ.

    Commonwealth Financial asked a First Circuit panel Friday to undo a $93 million award the U.S. Securities and Exchange Commission won last year, saying the lower court was too quick to find that the firm's disclosure practices harmed investors.

Expert Analysis

  • Series

    Circus Arts Make Me A Better Lawyer

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    Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.

  • 3 Ways To Train Junior Lawyers In 30 Minutes Or Less

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    Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.

  • How To Safely Leverage AI In The Digital Assets Industry

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    Digital asset businesses that use or plan to implement artificial intelligence should assess their risk management frameworks to ensure that AI-related business areas, including customer support and fraud detection, are in compliance with applicable laws and regulatory guidance from the last year, say attorneys at Winston & Strawn.

  • What Trump Presidency May Mean For Climate Reporting

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    While the Trump administration will likely take a hands-off approach to climate-related disclosures and rescind regulations promulgated under the Biden administration, state and international ESG laws mean the private sector may not reverse course on such disclosures, say attorneys at Seyfarth.

  • SEC Action Indicates Continued Focus On ESG Disclosures

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    The U.S. Securities and Exchange Commission's recently settled enforcement action against Invesco Advisers provides a road map for how regulatory agencies will continue to focus on ESG-related disclosures going forward, and underscores a focus on greenwashing, say attorneys at V&E.

  • The Bar Needs More Clarity On The Discovery Objection Rule

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    Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.

  • What's Next For The CFTC After The Election

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    While much of the U.S. Commodity Futures Trading Commission's enforcement actions in line with its traditional priorities will continue as usual in the near term, postelection leadership changes at the CFTC and new congressional priorities may alter the commission's regulatory framework in 2025 and beyond — particularly its oversight of crypto, say attorneys at WilmerHale.

  • Series

    Being A Navy Reservist Makes Me A Better Lawyer

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    Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.

  • Cos. Should Inventory Issues To Prep For New Congress

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    As the legislative and oversight agendas of the 119th Congress come into sharper focus, corporate counsel should assess and plan for areas of potential oversight risk — from tax policy changes to supply chain integrity — even as much uncertainty remains, say attorneys at WilmerHale.

  • OCC Recovery Guidance Can Help Banks Bounce Back Better

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    The Office of the Comptroller of the Currency's recently finalized recovery guidelines add to the constellation of exercises that larger banks must undertake, while also aiding information-gathering and preparedness efforts that can help prevent — or better manage — bank failures, say attorneys at Davis Wright.

  • Navigating DOJ's Patchwork Whistleblower Regime

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    In the past few months, the U.S. Department of Justice and several individual U.S. attorney’s offices have issued different pilot programs aimed at incentivizing individuals to blow the whistle on misconduct, but this piecemeal approach may create confusion and suboptimal outcomes, say attorneys at BakerHostetler.

  • So You Want To Move Your Law Practice To Canada, Eh?

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    Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.

  • A Look At Similarities Between SOX And SEC's Cyber Rule

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    Just as the Sarbanes-Oxley Act paved the way for greater transparency and accountability in financial reporting, the SEC's cybersecurity rule is doing much the same for cybersecurity, ensuring that companies are resilient in the face of growing cyber threats, says Padraic O'Reilly at CyberSaint.

  • Class Actions At The Circuit Courts: November Lessons

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    In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses six federal court decisions that touch on Rule 23 of the Federal Rules of Civil Procedure, and when individual inquiries are needed to prove economic loss.

  • 5 Areas Congress May Investigate After GOP Election Wins

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    With Republicans poised to take control of Congress in addition to the executive branch next year, private companies can expect an unprecedented uptick in congressional investigations focused on five key areas, including cryptocurrency and healthcare, say attorneys at Cahill Gordon.

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