Updates on Regulation, Trading, and Market Reforms for the Alternative Investment Community

CategoryDerivatives

New ESG-Related Regulatory Obligations for Private Funds

The consideration of environmental, social and governance factors alongside financial factors in the investment decision-making process are increasingly popular ways for investors to evaluate companies and funds in which they may choose to invest.  According to the most recent report from US SIF Foundation, investors held $11.6 trillion in assets chosen according to ESG criteria at the beginning...

ARRC Releases Fallback Language for the LIBOR Transition

The Alternative Reference Rates Committee (ARRC) released updated fallback language for new originations of U.S. dollar-denominated syndicated business loans that reference LIBOR and new variable-rate private student loans on June 30, 2020.  The language is intended to address the disruption that could occur should the termination of LIBOR indeed occur at the end of 2021. With respect to...

SEC Rule Proposal Governing Good Faith Determinations of Fair Value

Recently, the Securities and Exchange Commission (“SEC”) proposed a new regulatory framework under Rule 2a-5 of the Investment Company Act of 1940, as amended (the “40 Act”) to shed light on the role of the board of directors of a registered investment company or business development company (“Boards”) with respect to fund valuation.  Historically, Boards assign valuation using a blend of...

Updates on Regulation, Trading, and Market Reforms for the Alternative Investment Community