COVERAGE
March 1, 2023
Read time: 2 min
Darren Azman and Gregg Steinman author this article in Reuters. The article delves into the key issues that may arise in crypto Chapter 11 proceedings.
COVERAGE
March 1, 2023
Read time: 3 min
In a Private Funds CFO article by Jennifer Banzaca titled “Proposed Custody Rule Would Hit Small- and Midmarket Hardest,” Schulte Roth & Zabel partner Christopher Avellaneda reflected on proposed SEC changes, specifically examining the potential impacts of a new rule to expand the availability of the audit provision.
In part, Chris cautioned of the potential challenges this could create for PE firms in their ability to decide whether the exception from the qualified custodian requirement is available to them. As a result, PE funds would need to take additional steps to use the exception than under the current rule, and even if completed, would be subject to additional requirements, including having an auditor review private transactions.
Read the article here.
COVERAGE
February 28, 2023
Read time: 2 min
Jay Greathouse, Jerry Sokol and Kevin Meeks are featured in Global Legal Chronicle after Jay joined the Firm’s Healthcare Practice Group.
COVERAGE
February 28, 2023
Read time: 2 min
Caroline Ngo authors article about new PTEP policy ruling by the IRS.
COVERAGE
February 28, 2023
Read time: 3 min
In a recent FundFire article by Lydia Tomkiw titled “Hedge Funds Brace for Deeper SEC Exams, New Custody Proposal,” Schulte Roth & Zabel partner Christopher Avellaneda discussed the SEC aiming its examination priorities at private funds and its recent proposed update to the custody rule which would remake the landscape for custodying client assets, affecting all private fund managers.
Chris stated, “[t]he SEC has made clear private funds are an area of significant interest for them both in examinations and the enforcement space.”
According to Chris, the “catch all” rule would impact the “entirety of the private funds industry,” and would require rethinking and restructuring custodial arrangements. He continued, “[i]t will increase the challenges and complexity of safeguarding certain kinds of assets and crypto is among them.”
Read the article here.
COVERAGE
February 27, 2023
Read time: 2 min
Steve Kranz and Diann Smith are featured in Tax Notes after responding to a recent Tax Notes State viewpoint advocating that states adopt the corporate alternative minimum tax.
COVERAGE
February 27, 2023
Read time: 2 min
David Saunders is quoted in Legaltech News speaking about how Latrina Cothron v. White Castle Systems complicating existing BIPA settlements.
COVERAGE
February 27, 2023
Read time: 2 min
In a recent MarketWatch article by Frances Yue, Schulte Roth & Zabel partner Christopher Avellaneda discussed the SEC’s proposed rule which would expand the types of assets that investment advisers are required to hold using qualified custodians.
According to Chris, the rule could make it more challenging for some firms to custody cryptocurrency assets, and narrow the scope of firms that registered investment advisers can work with when they invest clients’ money in cryptocurrency.
Read the article here.
COVERAGE
February 24, 2023
Read time: 2 min
Apple was represented by Mark Nebergall and Eric Carstens in a state tax case in Louisiana.
COVERAGE
February 24, 2023
Read time: 2 min
The unsecured creditors committee is represented by Darren Azman and Joseph Evans.
