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Biz Law Blog

Business Law Blog

A business law blog focused on commercial law and business transactions.


Jun 08, 2021

Fixing FICC: Agency Proposes Rule Changes to Encourage More Repo Clearing

On Tuesday, May 25, 2021, the U. S. Securities and Exchange Commission (“SEC”) issued a notice (the “Notice”) that the Fixed Income Clearing Corporation (“FICC”) had filed proposed rule changes intended to enhance the ability to clear certain trades, particularly those involving repurchase agreements (“Repos”) on FICC.» Read More

May 27, 2021

“Margin, I Have to Have More Margin:” The National Securities Clearing Corporation Proposes to Increase the Minimum Required Fund Deposit

On Monday, May 10, 2021, the U.S. Securities and Exchange Commission (“SEC”) issued a Notice that the National Securities Clearing Corporation (“NSCC”) filed a proposed rule change with the SEC to raise the amount of the Minimum Required Fund Deposit to be made and maintained by member firms using the NSCC.» Read More

May 25, 2021

Data Integrity: The SEC Sanctions S & P Dow Jones Indices LLC

On Monday, May 17, 2021, the U.S. Securities and Exchange Commission (“SEC”) initiated Administrative Proceedings (an enforcement action) against the S & P Dow Jones Indices, LLC (“SPDJI”), in connection with data integrity, for failing to maintain accurate and timely market information used for the S & P 500 VIX Short-Term Futures Index ER (the “Index”).» Read More

May 20, 2021

Too Much Bother: Broker/Dealer Affiliate of An Insurer Catering to Retirement Plans

GWFS Equities, Inc., is a registered broker/dealer headquartered in Greenwood, Colorado, and an affiliate of Great-Western Life & Annuity Company (“Great Western”). GWFS’s “core business concerns executing transactions on behalf of…[the insurance company’s] employer-sponsored retirement plan clients.” According to the May 12, 2021, Administrative Proceeding brought by the U.S.» Read More

May 18, 2021

Raising the Bar: SEC to Propose Increased Thresholds for Performance-Based Fees

On Monday, May 10, 2021, the U.S. Securities and Exchange Commission (“SEC”) issued a Notice of Intent to Issue an Order that “would adjust for inflation dollar amount thresholds in the rule under the Investment Advisers Act of 1940 (the “1940 Act”), which permits investment advisers to charge performance-based fees” to certain clients.» Read More

May 13, 2021

Twelve Tips When Preparing to Sell a Family-Owned Business

Whether you started the business yourself or are “next generation,” selling a family-owned business is usually an experience that can bring both excitement and anxiety. Here are 12 tips to help you focus on the exciting parts:

Twelve Tips in Preparation

  1. Before you go to market, do a preliminary valuation analysis.
» Read More

May 11, 2021

Friends and Family Fraud: LLC Does It

On Wednesday, May 5, 2021, the U.S. Securities and Exchange Commission (“SEC”) instituted an administrative proceeding under Rule 102(e) of the SEC Rules of Practice against Seth P. Levine, Esq., a 52-year-old New Jersey attorney (also admitted in New York) residing in Teaneck, Bergen County, New Jersey, regarding charges of fraud through his LLC.» Read More

May 06, 2021

The Dog Ate My Financials: Dissembling Filers Sanctioned by the SEC

On Thursday, April 29, 2021, the U.S. Securities and Exchange Commission (“SEC”) charged eight public companies for failing to disclose (in requests for permission to file periodic disclosure reports including financials late) that the delays were caused by anticipated restatement or correction of previously filed financial statements.» Read More

May 04, 2021

LIBOR Fading Away: What Lenders and Borrowers Should Know

This is a supplement to our prior articles regarding the phasing out of LIBOR (see “LIBOR Is Fading Away” and “LIBOR Is Fading Away; But, Perhaps, Not as Quickly as Thought“). For decades, lenders have extended credit facilities, both large and small, using LIBOR-based interest rates and documents relating to these facilities.» Read More