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SEC Narrowly Adopts Money Market Fund Reforms
Years of debate between regulators and the securities industry dating back to the financial crisis came to an end on July 23 when the Securities and Exchange Commission (SEC) narrowly approved rules aimed at lessening the risk of investor runs on money market funds, Reuters reported.
The Commission approved the new rules in a 3-2 vote. Commissioners Michael Piwowar, a Republican, and Kara Stein, a Democrat, cast the two no votes.
The new rules require prime institutional funds to do away with their fixed $1 share price and float in value. All money funds will also be permitted to impose fees for investors to redeem their shares and temporarily block investors from withdrawing cash at times of market stress, The Wall Street Journal reported.
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.