Does Volcker + Vickers = Liikanen?
On 29 January 2014 the European Commission published a proposal for a regulation of the European Parliament and of the Council “on structural measures improving the resilience of EU credit institutions."
Legal Update Archive
LEGAL UPDATES
US Securities and Exchange Commission Clarifies and Expands Its Interpretation of “Knowledgeable Employee” Under the US Investment Company Act
On February 6, 2014, the Staff of the Division of Investment Management of the Securities and Exchange Commission...
Structuring Credit Facilities for Defined Contribution Plan Funds
Over the last ten years, there has been a steady trend transition from defined benefit plans to defined...
Leverage and Liquidity Requirements Under Basel III
On January 12, 2014, with the concurrent endorsement of the Group of Central Bank Governors and Heads of...
Governmental Plan Investors and the Borrowing Base
A subscription credit facility, also frequently referred to as a capital call facility (a “Subscription Facility”), is a...
Subscription Credit Facilities and the Volcker Rule
On December 10, 2013, the federal financial agencies (the “Agencies”) approved joint final regulations (the “Final Regulation”) implementing section 619 of the Dodd-Frank Act, commonly referred to as the Volcker Rule.
Foreign Investor Capital: Collateral Enforceability and Minimization of Risk
Due to previous challenges in the United States fundraising market for sponsors of real estate, private equity and other investment funds (each a “Fund”), many Fund sponsors have sought to expand their sources of capital to include investors domiciled outside of the United States (“Foreign Investors”).
Infrastructure Funds Primer
Infrastructure funds are private equity vehicles that invest in a wide range of assets—including assets that could be...
Capital Commitment Subscription Facilities and the Proposed Liquidity Coverage Ratiohi
On November 29, 2013, the Board of Governors of the Federal Reserve System (FRB), the Office of the...
London, Paris, Stockholm, Moscow: European PE and Fund Finance Update
In 2012, growth in the European PE sector, in contrast to its more vigorous US counterpart, remained pedestrian.