Best of the Web – September 2016

 

Welcome to the September 2016 BOTW.  The kids went back to school, and so should we.  Our September BOTW picks focus on the details you must know to become a well-informed professional.  K&L Gates educates on AML, Drinker outlines the FINRA pay-to-play rules, and Ropes & Gray explains California’s new fee disclosure rule. Sadis also teaches a few things about insider trading litigation.  “To create something exceptional, your mindset must be relentlessly focused on the smallest detail.” (Giorgio Armani)

 

12 AML Obligations Every Broker/Dealer Needs to Know (K&L Gates)

http://www.klgates.com/files/Publication/c7195fd8-6000-422b-b2e7-dda07de19724/Presentation/PublicationAttachment/a9c7789c-53ed-44ed-b90d-e8d4df80e16c/Government_Enforcement_Alert_09162016.pdf

 

SEC Approves FINRA Pay-to-Play Rules (Drinker Biddle)

http://www.drinkerbiddle.com/insights/publications/2016/09/sec-approves-finra-pay-to-play-rules

 

California’s New Fee Disclosure Law for Public Pension Plans Investing In Alternative Investment Vehicles (Ropes & Gray)

https://www.ropesgray.com/newsroom/alerts/2016/September/CAs-New-Fee-Disclosure-Law-For-Public-Pension-Plans-Investing-In-Alternative-Investment-Vehicles.aspx

 

Cooperman Insider Trading Case Suffers from Same Flaw as SEC’s Loss to Cuban, but is Bolstered by Cooperman Invoking Right Against Self-Incrimination in SEC Testimony (SadisGoldberg)

http://www.sglawyers.com/library-item/cooperman-insider-trading-case-suffers-flaw-secs-loss-cuban-bolstered-cooperman-invoking-right-self-incrimination-sec-testimony/

 

US Hedge Fund Managers: Accessing Capital and Marketing in Europe (Dechert)

https://info.dechert.com/10/7236/uploads/onpoint—us-hedge-fund-managers—accessing-capital-and-marketing-in-europe.pdf?sid=e26bb665-7c0b-458e-a85f-beb0b7860a3d

 

6 Ways Advisors Can Protect Against 401(k) Lawsuits (Market Counsel)

http://www.thinkadvisor.com/2016/08/23/6-ways-advisors-can-protect-against-401k-lawsuits?page_all=1&slreturn=1476542604

 

Considerations for Illiquid Managers launching Liquid Strategies (ACA)

http://www.acacompliancegroup.com/sites/default/files/news/files/2016-reprint-September-Considerations-for-Illiquid-Managers-launching-Liquid-Strategies.pdf

 

Broker-Lite: FINRA Built It, But Will They Come? (Morgan Lewis)

https://www.morganlewis.com/~/media/files/publication/morgan%20lewis%20title/white%20paper/broker-lite-finra-built-it-but-will-they-come-september2016.ashx?la=en

 

A ‘Magic Perspective’ On Fraud by Sellers in Private Equity Deals (Pepper Hamilton)

http://www.pepperlaw.com/publications/a-magic-perspective-on-fraud-by-sellers-in-private-equity-deals-2016-09-13/

 

New Form ADV: The Impact on Private Fund Advisers (Schulte Roth & Zabel)

https://www.srz.com/resources/new-form-adv-the-impact-on-private-fund-advisers.html

 

Hedge Fund Side Letter Study (Seward & Kissel)

http://www.sewkis.com/files/Publication/58adf31f-1e9a-4b1b-9386-b739a0498af8/Presentation/PublicationAttachment/d60da516-3266-40d7-ba17-b7f4f31f21dd/SideLetterStudy9_14_16.pdf

 

ESMA Report Highlights Funds’ Rising Use – and Potential Impact on Market Stability – of Synthetic Leverage From Derivative Instruments (Kramer Levin)

http://www.kramerlevin.com/files/Publication/1af5677d-ccee-4685-a0f5-082e8b147ddc/Presentation/PublicationAttachment/f3cd6c54-8496-4d99-b4c0-2dbbb69e2f47/HFLR_ESMA%20Report%20Highlights%20Funds%E2%80%99%20Rising%20Use%20%E2%80%93%20and%20Potential%20Impact%20on%20Market%20Stab.pdf

 

 

Strategic Growth for Asset Managers and Single Investor Products (Skadden)

https://www.skadden.com/sites/default/files/publications/Strategic_Growth%20_for_Asset_Managers_and_Single_Investor_Products_0.pdf

 

An Overview of ERISA Issues Related to ‘In-House’ Plan Use of Proprietary Products and Services (Groom Law Group)

http://www.groom.com/resources-888.html