The U.S. Court of Appeals for the Second Circuit denied a petition filed by several attorneys general and investment advisers challenging the legality of the SEC's adoption of Regulation Best Interest.
The U.S. District Court for the Southern District of New York held that certain syndicated loans sold to institutional investors are not "securities" and rejected claims of violations of federal and state securities laws.
The staff of the SEC Division of Investment Management withdrew 2010 guidance which reviewed the permissibility of an SEC-registered, closed-end fund determining to opt in to a control share acquisition statute authorized under state law.
The New York State Department of Financial Services extended the deadline for regulated entities to submit their plans to address the end of LIBOR and the associated risks. The deadline was extended to March 23, 2020.
New York State Department of Financial Services Superintendent Maria Vullo reminded regulated entities that they must be in full compliance with the requirements of NYDFS cybersecurity regulation by March 1, 2019.
The New York Department of Financial Services proposed updating the existing suitability regulation in order to establish a "best interest" standard for life insurance and annuity product licensed sellers.
New York Department of Financial Services cybersecurity rules went into effect on August 28, 2017. Cadwalader attorneys reviewed the rules and prepared a visual brief highlighting specific implementation dates.
Following an investigation by New York Attorney General Eric T. Schneiderman, Peabody Energy Corporation agreed to resolve allegations that it failed to adequately disclose the company's financial risks related to climate change.