News and Alerts
Richard Shamos (Counsel) recently wrote an article for the September Issue of the International Bar Association’s, Business Law International Journal entitled, “The Application of US Anti- Boycott Laws: From the Arab League to Ireland.” Click below to download the full article.
Hedgeweek recently announced that Sadis was named the best Law Firm at the Hedgeweek US Awards. The annual Hedgeweek Global Awards recognize excellence among hedge fund managers and service providers in the United States. The awards are based on a ‘peer review system’ where by the readers, including institutional and high net worth investors as well as managers and other industry professionals at fund administrators, prime brokers, custodians and advisers are invited to elect a ‘best in class’ in a series of categories.
Above the Law recently posted an article regarding a panel that Steven Huttler (Partner) moderated. The panel, at IMN’s Second Annual Litigation Finance Conference, was entitled “Risk/Reward: Institutional Capital Perspectives.” The article, written by David Lat discusses why institutional investors showing increased interest in litigation finance and its’ growing presence as an alternative asset class.
Welcome to the newest edition of SadiSpeaks, our weekly update on the comings and goings-on at Sadis & Goldberg LLP. Each week, we will send out our latest and greatest in bite size forms: Deal Flow, Regulatory Updates, Litigation News, Trends we’re seeing in the Hedge & P.E. space, etc. as well as invites to our full calendar of events.
An attorney for SkyBridge, Samuel Lieberman (Partner), argued U.S. Bank had accepted a heightened duty in its role as fund administrator to independently verify that a strict valuation policy was being adhered to at Premium Point. U.S. Bank agreed to these terms in order to reap fees from SkyBridge, which would become Premium Point’s largest investor with a $365 million stake.
The U.S. Securities and Exchange Commission ("SEC" or "Commission") the Financial Industry Regulatory Authority ("FINRA") released a joint statement on July 8, 2019 clarifying issues related to broker-dealer custody of digital asset securities. The statement focuses on FINRA and the SEC's approach to broker-dealer regulation and investor protection, including assets deemed to be securities under the 1970 Securities Investor Protection Act and factors related to approving a broker-dealer application of crypto-related companies. The same fundamental elements of the broker-dealer financial responsibility rules apply whether a security is paper or digital.
Over the last thirty-six months, Sadis & Goldberg has assembled a cross-practice Cannabis Practice Group to provide greater legal insight to businesses operating in this rapidly growing and dynamic industry where state, federal and international regulations remain in transition.
The U.S. Securities and Exchange Commission ("SEC") scheduled a June 5th vote on its Regulation Best Interest rulemaking package. SEC will consider whether to adopt a new rule to establish a "best interest" standard of conduct for broker-dealers and natural persons who are associated persons of a broker-dealer when making a recommendation to a retail customer of any securities transaction or investment strategy involving securities. The existing requirement is that broker-dealers recommend "suitable" investments for clients, falling short of a fiduciary standard.
Private Equity Law Report published an article written by Vincent Pitaro highlighting our most recent cannabis webinar, State of the Union: M&A in the Cannabis Space, hosted by Paul Marino (Partner), Robert Cromwell (Counsel), and Eliott Frank (Partner) and featuring Michael Feinsod and Hunter Garthe of General Cannabis on April 16, 2019.