At a Federal Trade Commission hearing, industry professionals and experts debated the possible anticompetitive implications of institutional investors holding non-controlling amounts of voting securities in competing firms.
Cadwalader attorneys authored a memorandum on the implications of the recently proposed SEC releases that are intended to expand and clarify the duties that broker-dealers and investment advisers owe to their clients under the Exchange Act.
President Donald J. Trump signed (i) an Executive Order setting forth "Core Principles for Regulating the United States Financial System" and (ii) a memorandum regarding the Department of Labor’s fiduciary rulemaking.
The CFTC issued an order excluding institutions in the Farm Credit System from the definition of "commodity trading advisor." The CFTC explained that any trading advice offered by such institutions is "solely incidental to their primary lending business."
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