Covington & Burling
International Top 30 position: 25
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The elimination of the exemption from registration under the Investment Advisers Act of 1940, as amended (the Advisers Act), for advisers with fewer than 15 clients resulted in the registration of approximately 1,500 additional investment advisory firms.
Changes to the US Commodity Exchange Act made by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 subjected a large number of fund sponsors, including sponsors of non-US funds with US investors, to the jurisdiction of the US Commodity Futures Trading Commission for the first time.
Since the enactment of Dodd-Frank, there has been a great deal of focus on rewards for ‘whistleblowing’ — bringing to the government’s attention evidence of wrongdoing that it did not previously know about.
Just one day before the start of New York Fashion Week, the United States Court of Appeals for the Second Circuit gave some much-needed comfort to the fashion industry by ruling in the legal battle between French footwear designer Christian Louboutin and Yves Saint Laurent that Louboutin’s famous red lacquered sole deserves trademark protection.
In late August, the Securities and Exchange Commission (SEC) proposed, by a 4–1 vote, to permit general solicitation and general advertising under two of its private placement safe harbor rules.
The US Securities and Exchange Commission’s (SEC) conflict mineral rules, adopted in August 2012, present hard questions for public companies, which must evaluate whether they are covered by the rules, and, if so, make inquiry into the origin of the minerals used in their products.