RopesTalk

In this ESG-focused podcast, asset management partners Isabel Dische and Eve Ellis discuss the United Kingdom’s recently published Green Finance Strategy, the European Union’s Action Plan on Sustainable Finance and how these initiatives may impact asset managers.

The third installment of Ropes & Gray’s podcast series, Non-binding Guidance, highlights two recent federal district court decisions implicating enforcement efforts in the stem cell and compounding arenas. This episode, Ropes & Gray lawyers Greg Levine and Beth Weinman first explore the D.C. District Court’s decision to grant summary judgment to FDA in its efforts to enjoin a Florida clinic from administering unapproved adipose derived stem cell injections to patients to treat a number of serious diseases. Next they address a loss for the government in the decision by the Federal District Court for the District of Massachusetts to overturn the convictions of two former employees of the New England Compounding Center (NECC) for conspiracy to defraud FDA, on the basis of legal impossibility. Tune in to this discussion to learn more about these federal district court decisions, their impact on the industry, and how the Agency will move forward as a result of these findings.

In this podcast, Jill Kalish Levy and Joel Wattenbarger discuss the impending cessation of LIBOR at the end of 2021 and its proposed replacement, SOFR, and how they differ. Market participants are already taking different approaches to the replacement of LIBOR from the documentation and logistical perspectives. This podcast explains the pros and cons of the various approaches, including the advantages and challenges associated with the “amendment approach” and the “hardwired approach” in documentation, and what actions credit fund managers may want to consider taking in 2019 to begin the transition away from LIBOR.

This new Ropes & Gray podcast series, The PEP Talk, Ropes & Gray’s Private Equity Podcast, focuses on legal issues of interest to the private equity industry. In the first episode of the series, asset management partners Peter Laybourn and Debra Lussier are joined by Keith Higgins, chair of the firm’s securities and governance practice and former SEC director of corporation finance, to discuss the opportunity for private equity funds to engage in general solicitation during fundraising under Rule 506(c) of Regulation D of the Securities Act.

In this podcast, Isabel Dische and Melissa Bender discuss the recent impact investing standards published by the International Finance Corporation (IFC), an arm of the World Bank. This discussion provides a high-level overview of the IFC impact investing framework and related considerations for asset owners and managers.

In this podcast, Isabel Dische and Josh Lichtenstein discuss President Trump’s April 10, 2019 Executive Order on Promoting Energy Infrastructure and Economic Growth and its possible implications for Department of Labor guidance with respect to ERISA plan fiduciaries’ consideration of environmental, social and governance (ESG) risks and opportunities as part of their investment processes and related proxy activities.

In this podcast, Sarah Clinton and David Sullivan discuss interval funds registered under the Investment Company Act of 1940, an increasingly common vehicle for credit strategies. As interval funds have risen in popularity recently, with the number of interval funds and amount of AUM having essentially doubled in the past two years, credit fund managers may be considering using this alternative strategy for the first time. This podcast explains what interval funds are and outlines advantages and challenges to these funds to provide credit fund managers a quick view into why they may want to consider registered interval funds.

This Ropes & Gray podcast series highlights developments in Washington, D.C., affecting private funds and their legal, regulatory and compliance obligations. In this second installment, asset management partner Joel Wattenbarger and counsel David Tittsworth pick up on their conversation from January 2019, when the U.S. government was in partial shutdown, to discuss the aftermath of the shutdown and other legislative updates from Capitol Hill, as well as recent developments at the SEC, the Commodity Futures Trading Commission and the Financial Stability Oversight Council. Topics include Regulation Best Interest and related SEC initiatives; legislative updates related to capital formation, data collection and FinTech; recent developments related to the CFTC; and the FSOC’s proposed changes to how non-bank financial institutions are designated.

This Ropes & Gray podcast series, which we expect to update periodically, will highlight developments in Washington, D.C. that affect private funds and their legal, regulatory and compliance obligations. In the first episode of the series, hedge fund partner Joel Wattenbarger is joined by investment management counsel David Tittsworth to discuss relevant SEC rulemakings, enforcement and inspection issues, as well as developments on Capitol Hill, including impacts of the partial government shutdown.

During this podcast, Michael Doherty and Jason Kolman discuss some considerations for newer credit fund managers, including common differences between the various types of credit funds, as well as between private equity and credit funds generally. Managers considering entering the credit fund market will gain a better understanding of common differences between credit and private equity funds in regard to topics such as return profiles, recycling provisions, carried interest, management fees, conflicts, tax and leverage.