The COVID-19 pandemic has brought new challenges for compliance departments, including a rise in market abuse risk as more staff members work from home. Lawyers in Mayer Brown’s Paris office offer insights on market manipulation risk for European banks in a May 13 article in S&P Global’s Market Intelligence publication. The article draws on Mayer
The staff of the Division of Investment Management (“Division”) of the US Securities and Exchange Commission (“SEC”) has published “FAQs” regarding relief for funds and advisers affected by COVID-19 (the “FAQs”). The FAQs include, among others:
- information about how to contact the Division with questions or concerns about COVID-19 related operational or compliance
On April 22, 2020, the US Securities and Exchange Commission’s Division of Investment Management (“Staff”) announced that it is extending the EDGAR filing window on April 29, 2020, from 5:30 p.m. to 10:00 p.m. EDT for registered investment company (“RIC”) and business development company (“BDC”) filings. This extension was instituted to mitigate potential filing delays…
On March 31, 2020, in an effort to continue to respond to the challenges brought about by the Covid-19 crisis, the Commodity Futures Trading Commission (CFTC) staff issued temporary relief that will permit certain US trading firms to serve their US customers from foreign affiliates. Many US futures commission merchants (FCM) are part of international financial service groups with global operations in various financial centers outside the United States, and the new relief will have the practical effect of allowing those non-US personnel to enter orders of US customers where certain conditions are satisfied.
The issuance of the relief marks a significant and helpful step. Recognizing the operational difficulties confronting numerous FCMs during this period, CFTC staff has taken an aggressive and well-advised step to help promote the efficiency of order execution.
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The COVID-19 pandemic has raised a number of issues specific to public companies that file reports with the Securities and Exchange Commission. Among the issues impacted by COVID-19 that the speakers we will discuss in this webcast will be:
- Risk factors and forward-looking information disclosures
- Other SEC disclosure topics
- Earnings releases, earnings
On March 27, 2020, the US Federal Trade Commission (FTC) announced that it would resume granting early terminations (ETs) of merger filings made under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the HSR Act). The FTC previously said that it would not grant ET while its temporary e-filing program for HSR filings was in effect during the COVID-19 crisis. Whether ET is granted is an important deal-timing consideration; without it, filing parties must wait the entire 30-day waiting period prior to closing their transactions.
Continue Reading Federal Trade Commission Resumes Granting Early Terminations
As a result of market volatility related to the COVID-19 pandemic, many companies may be at risk of losing their status as well-known seasoned issuers (“WKSIs”) under the federal securities laws. Our blog post reviews the requirements for WKSI status.
Continue Reading on Mayer Brown’s Free Writings + Perspectives blog.
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For public companies concerned about steep declines in their day-to-day market cap in this volatile environment and how that volatility may impact their status as a large accelerated, accelerated or non-accelerated (including a small reporting company) filer, our blog post includes a few reminders relating to the relevant determination dates.
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