Key Notes: New rule will provide consistent framework for fund of fund arrangements. Reliance on the new rule will require compliance with certain conditions. Existing fund of funds exemptive orders will be rescinded. On October 7, the Securities and Exchange Commission (SEC) adopted Rule 12d1-4 (Rule), which establishes a comprehensive regulatory framework for fund of funds arrangements. Prior to its adoption, fund managers navigated a complex and sometimes inconsistent regime of rules and exemptions to engage in fund of funds...

Which would provide parties with uniform way to address existing and new derivatives contracts after discontinuation of Libor. The International Swaps and Derivatives Association Inc. (ISDA) has published its 2020 IBOR Fallbacks Protocol and related Amendments to the 2006 ISDA Definitions to address discontinuation of the U.S. dollar (USD) Libor and other interbank offered rates (IBORs) in the global derivatives market. USD Libor is anticipated to be discontinued at the end of 2021. Existing derivatives transactions will require a...

As we enter the last quarter of what has turned out to be an eventful year, cross-asset class investors continue their search for the ‘best’ asset class. Without  a crystal ball, it appears impossible to answer where this will be with any degree of advance certainty. It is therefore crucial to diversify by blending asset classes ideally including those which offer a positive yield. The way the blend evolves over time is key for future risk-adjusted returns. Even if the...

With a hot national spotlight on issues of racial diversity, equality, and inclusion, the composition of corporate boards of directors is facing increased scrutiny from the American public, legislators and the plaintiffs’ bar. The plaintiffs’ bar fired their first shot in July 2020 with a shareholder derivative complaint against the board of a Fortune 100 company, followed in quick succession by additional derivative lawsuits against the boards of a number of public companies that allegedly lack any racially diverse...

The job market has shifted tremendously in 2020. Frequently, hiring managers and decision-makers ask our team, "With unemployment being so high, where are all the candidates?" or "Why should I hire a recruiter when unemployment is so high? Can't I just post the job and have my pick of candidates?" Let’s take a look at these questions. The first thing we suggest is to look at the industry you are in. We are in unprecedented times and facing statistics and...

This article was first published in Reuters Breakingviews | Latin America’s Covid-19 crisis demands a more ambitious response from governments and the international community. The pandemic is shining a light on underlying economic vulnerabilities that have hindered the region’s efforts to contain the disease. Without additional funding, the eventual recovery may also suffer. The region’s five largest economies combined – namely, Brazil, Mexico, Colombia, Peru, and Argentina – registered 7.7 million cases of Covid-19 and hundreds of thousands of deaths, as...