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Over the last year, we have monitored a lawsuit in Georgia that alleged a hedge fund (“Fearless Fund”) violated 42 U.S.C. § 1981—the federal prohibition on racial discrimination in contracting—by operating a grant contest that awarded $20,000 grants to select small business owners, all of whom, by the contest’s express rules, had to be Black women.  That case, American Alliance for Equal Rights v. Fearless Fund Management, LLC, settled yesterday ...

Dinsmore & Shohl LLP | September 2024

On September 9, 2024, the SEC announced it had settled Administrative Proceedings with nine investment advisers for violating the Marketing Rule. The violations involved distributing advertisements that included untrue or unsubstantiated statements of material fact or testimonials, endorsements or third-party ratings that lacked required disclosures. The following is a summary of the settled Administrative Proceedings ...

Carey Olsen | September 2024

Carey Olsen advises FitzWalter Capital on launch of ~US$1.4 billion fund The Carey Olsen corporate team advising on the Jersey aspects of the transaction comprised partner James Mulholland, counsel Thomas MacAdie and associate Charlie Hurst, working alongside onshore counsel Debevoise & Plimpton LLP and Jersey administrator J.P. Morgan ...

Shoosmiths LLP | September 2024

The trend for financial services businesses and others to procure services from FinTech providers – and for providers to offer their services direct to consumers – has increased over the last 15 years. In this article, we outline some of the key areas of law that relate to FinTech. Similar to technology law more broadly, FinTech law is very much a “discipline of disciplines” ...

Carey Olsen | September 2024

Carey Olsen advises Sarasin Bread Street on inaugural multi vintage private equity fund The fund comprised two separate closed-ended registered collective investment schemes, utilising a single-manager multi vintage investment strategy to acquire a diversified portfolio of private company investments managed by Carlyle Group across a range of years from 2014 to 2024 ...

Mamo TCV Advocates | September 2024

  In recent years, the emphasis on sustainable and responsible investment has grown significantly. This shift is driven by increasing awareness of environmental, social, and governance (“ESG”) issues among investors, regulators, and the public ...

In Harrington v. Purdue Pharma LP in June, the U.S. Supreme Court held that the U.S. Bankruptcy Code does not authorize nonconsensual releases of nondebtors as part of a Chapter 11 plan ...

Mamo TCV Advocates | September 2024

  In a decision given on the 8th of August 2024 with respect to the case ASF 013/2024, the Arbiter for Financial Services (hereinafter referred to as the ‘Arbiter’) rejected a complaint filed against a Life Insurance Provider regarding a life insurance policy with an investment element which the complainant had purchased from the Life Insurance Provider in the year 2000 ...

Shoosmiths LLP | September 2024

In this article, Shoosmiths and KPMG explore some of the key policy and business implications for organisations deploying connected and automated mobility (CAM) in the UK market. The Automated Vehicles Act (the AV Act) came into force on 20 May 2024. This important piece of legislation signals a major step towards the widescale adoption and use of CAM within the UK ...

Shoosmiths LLP | September 2024

A podcast series that explores privacy themes within some of the most well-known movies. In this season finale, William Moore and Nikita Kanda look at the 1990’s cult movie, ‘The Truman Show’. Whether you are a film buff, a privacy advocate, or simply curious about the intersection of storytelling and privacy, take a journey with us as we explore how the big screen tackles privacy ...

Lavery Lawyers | September 2024

At a time when Canada and many other countries are taking steps to protect users from harm online,1a decision was handed down by the Supreme Court of British Columbia (the “Court”) on January 15, 2024, regarding the conduct of a competitor with respect to complaints about intellectual property infringement made on Amazon’s e-commerce website ...

Carey Olsen | August 2024

Carey Olsen advises USA Rare Earth on its US$870 million business combination with Inflection Point Acquisition Corp. II The proposed transaction values USARE at a pro-forma enterprise value of US$870 million and includes an initial circa US$35 million PIPE investment, of which US$25 million funded in connection with the signing of the business combination agreement ...

Carey Olsen | August 2024

Nothing lasts forever... or does it? New perpetuities legislation introduced in the Cayman Islands The "old" rule The rule against perpetuities currently applicable in the Cayman Islands is derived from English law and is aimed at preventing individuals from 'tying up' their assets in trust indefinitely. Broadly speaking, the rule prescribes a set period – the perpetuity period – within which time the interest of each beneficiary must vest (i.e ...

Carey Olsen | August 2024

Carey Olsen advises Tapir Holdings Ltd. on acquisition of shares in Rendeavour Holding Limited and subsequent listing on Bermuda Stock Exchange As part of the generation of funding and the consideration for the Acquisition, Tapir issued a total of 202,662,602 new ordinary shares, which were admitted for listing on the Mezzanine Market of the Bermuda Stock Exchange by way of subsequent listing (the "Listing") ...

Buchalter | August 2024

By: Stephen Best, Clayton Barnett, and Brian Adkins August 27, 2024 Introduction As many sports lawyers are aware, there have already been several examples of name, image, and likeliness (“NIL”) litigation throughout the country.  In fact, we previously reviewed several groundbreaking cases which stood to fundamentally alter the landscape of college athletics ...

Krogerus | August 2024

The European Union's NIS2 Directive is a significant update to the original NIS Directive which was implemented in 2018 and which the NIS2 Directive is set to repeal this autumn. The original NIS Directive was the first EU-wide legislation focusing on network and information system security. The deadline for member states to transpose NIS2 Directive into national law is just around the corner (17 October 2024), and the implementing provisions will be applicable from 18 October 2024 onwards ...

Morgan & Morgan | August 2024

The need to find mitigation mechanisms against climate change increases as time passes ...

Novel technologies that seek to improve quality of life or simplify complex processes offer great promise. For example, medical technologies that detect or cure disease or supply chain technologies that allow for real time understanding of the location or destination of a specific product — make our lives easier and safer. They also pose potentially unforeseen complications ...

Han Kun Law Offices | August 2024

On 16 August 2024, the National Financial Regulatory Administration (NFRA) issued a consultation draft of theMeasures for Compliance Management of Financial Institutions(金融机构合规管理办法) (Draft Measures). The public comment period is open until 17 September 2024. Developing unified compliance management measures for relevant financial institutions can be traced back to the 2022 legislative agenda put forth by the China Banking and Insurance Regulatory Commission (CBIRC) ...

Carey Olsen | August 2024

Carey Olsen advises Paratus Energy Services on the issuance of a US$500 million senior secured bond This transaction marks one of the largest bond issuances in the Nordic bond market in recent years and was significantly oversubscribed, reflecting robust investor confidence and strong market demand ...

Carey Olsen | August 2024

Carey Olsen assists DeFinity Markets in securing JFSC approval for digital assets settlement platform The Jersey subsidiary of the London-based DeFinity Markets group has been operational in the spot foreign exchange market since 2014 and is connected to some of the world’s most prominent banks. The challenger-model will see investment-grade buy and sell-side clients transact with each other using bank-intermediated credit via the prime brokerage desk ...

Shoosmiths LLP | August 2024

On 26 July, the UK Financial Conduct Authority (FCA) published two consultation papers, CP24/12 and CP 24/13 (together, the CPs), relating to the new regime for public offers and admissions to trading to replace the existing UK Prospectus Regulation. These proposals are part of a package of measures designed to  strengthen the UK’s capital markets; promoting more efficient and effective capital raising for issuers and increasing investor opportunities ...

Shoosmiths LLP | August 2024

Shoosmiths has partnered with The Legal 500 as exclusive expert contributing editors and authors across two of their latest Country Comparative guides. These global guides provide detailed information and insight into practice-area-focused laws and regulations in various jurisdictions., and provide an excellent platform to highlight our Technology sector globally, focusing on key areas such as AI, Blockchain & Digital Assets, Connected Tech, Tech Corporate Lifecycle, and Fintech ...

Carey Olsen | August 2024

Carey Olsen advises on groundbreaking private catastrophe bond The bond was issued from the Randolph Re cell of Aon's White Rock Insurance Company PCC Limited – the first time a catastrophe bond has been issued out of a Guernsey vehicle. Previous Randolph Re catastrophe bonds were all issued out of Aon's Bermuda cell company, White Rock Insurance (SAC) Ltd. structure, making this a first for Guernsey and one of only a few cat bonds issued in this jurisdiction ...

Carey | August 2024

On July 30, 2024, the Chilean Commission for the Financial Market ("CFM") published the Official Letter No. 2,354 (the "Official Letter") amending Official Letter No. 1,835 of April 24, 2007, which provides instructions regarding the form and content of information on investments made by insurance and reinsurance companies ...

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