June 5, 2020 Alert

Hi all,

Below are this week’s alerts for the Investment Network. Enjoy!

Note from Nicole Kalajian: As many of you are aware, Chicago’s loop has been my home and place of work for over 20 years. It is heart-breaking to see the toll that our city has suffered over the last few days (as well as the last few months). Hopefully we all come through the recent suffering as a stronger city and nation. I wish everyone the best during these tough times and would like to share some of my husband’s photos of Chicago in the recent days. I couldn’t bear to take any pictures. That is me with the broom. Thank you to all of the volunteers and workers that have been working around the clock to clean up our beautiful city. We can get through this together!

This Issue’s Topics:

  • 100 Women in Finance Global Webinar: Geopolitical Implications of COVID-19 in a G-ZERO World with Ian Bremmer, Eurasia Group and GZERO Media
  • ACG Chicago: Virtual Happy Hour
  • Talking Hedge: Negative Rates vs High Volatility: Can Traditional Macro Strategies Navigate the New Norm
  • Strafford Live CLE Webinar: Finders and Unregistered Broker-Dealers: Understanding the Risks and Recent Developments
  • 2020 ICI Webinar: Changing Workforce Dynamics

Events:

100 Women in Finance Global Webinar: Geopolitical Implications of COVID-19 in a G-ZERO World with Ian Bremmer, Eurasia Group and GZERO Media
Thursday, June 11, 2020, 8:00 A.M. CDT
Hosted by the 100WF Boston Education Committee

In early 2020, Ian Bremmer and his political risk consultancy, Eurasia Group, predicted that the year ahead would be a historic tipping point as a number of trends converged: the weakening of the United States’ global leadership; the rise of an alternative Chinese economic, technological, and political model; and a growing impulse toward deglobalization. In this fragile political and economic environment in which no country or group of countries can meet the global challenges of our era – the G-Zero World – how might sudden shock of the coronavirus pandemic accelerate these destabilizing trends?

Dr. Bremmer in New York will join Carol Kim in Hong Kong for a fireside discussion of the deepening impact of COVID-19 and the long-term implications for global investors.

Open to 100WF members. For more information, click here.

ACG Chicago: Virtual Happy Hour
Thursday, June 11, 2020, 5:00-6:30 P.M. CDT
@Zoom Meeting

Meet and connect with professionals in your M&A network over a virtual platform. Attendees will be placed in small breakout rooms where you are able to meet with other business professionals in a series of 15 to 20 minute speed networking sessions. This event is a simple and effective way to build your network, meet other ACG members and reconnect with existing contacts.

For more information, click here.

Talking Hedge: Negative Rates vs High Volatility: Can Traditional Macro Strategies Navigate the New Norm?
Friday, June 12, 2020, 10:00 A.M.-12:00 P.M. CDT

Our personal and professional lives are forever changed by the global pandemic. Perhaps more than ever, a new era in alignment of interests and strategic partnerships is here to stay. Sophisticated investors seek customization of investment strategies, and operational efficiencies that are designed both to drive performance and reduce management costs.

Join our webinars for compelling discussions between institutional investors, allocators, managers, solutions providers, and academics as we explore the plethora of highly innovative, tailor-made solutions that are redefining the use of alternatives in a diversified portfolio.

For more information, click here.

Strafford Live CLE Webinar: Finders and Unregistered Broker-Dealers: Understanding the Risks and Recent Developments
Thursday, June 25, 2020, 12:00-1:00 P.M. CDT

Please join Peter M. Hong, Partner at Stradley Ronon Stevens & Young and Eden L. Rohrer, Partner at K&L Gates who will be speaking at this upcoming Strafford live webinar.

Historically, the SEC has been aggressive in bringing enforcement actions against those involved in transactions with unregistered broker-dealers and those that fail to register as broker-dealers — most recently in several cases alleging unregistered dealer activity. The SEC continues to impose sanctions on private equity firms and managers for using unregistered broker-dealers. The SEC is also carefully scrutinizing unregistered broker-dealer issues in its OCIE compliance exams of private investment funds.

Fund managers and companies can be subject to SEC enforcement actions for aiding and abetting a finder’s violation of the broker-dealer registration requirements. Besides SEC sanctions, the use of an unregistered broker-dealer brings the risk of rescission under federal and state securities laws. Involving finders in capital raising thus carries significant risks, and there is no safe harbor or clear distinction of a finder’s duties in the securities laws.

The SEC has issued some guidance to clarify the distinction between a legally operating finder and an unregistered broker-dealer. This guidance includes no-action letters, rules, and interpretations for M&A brokers, investment platforms, and crowdfunding participants.

Our panel will analyze the legal pitfalls for securities issuers who utilize unregistered “finders” to solicit investors, the SEC’s restrictive position on permissible activities of finders, activities that require broker-dealer registration, and SEC regulatory actions regarding unregistered broker-dealers. The panel will also discuss the SEC’s focus on broker-dealer issues in the private fund market, the ICO market, as well as the online crowdfunding portal space, and recent enforcement actions.

We will review these and other key issues: 

  • What activities require broker-dealer registration with the SEC and FINRA?
  • What penalties and actions do issuers face in using unregistered broker-dealers in their capital raising efforts?
  • How do the SEC’s and FINRA’s guidance on finder activities in the M&A arena inform the permissible activities of finders in the securities and fund arenas?

After the presentations, there will be a live question and answer session so we can answer your questions about these important issues directly.

For more information, click here.

2020 ICI Webinar: Changing Workforce Dynamics
Thursday, June 25, 2020, 1:00-2:00 P.M. CDT

  • Are your organization’s employees well positioned to meet the rapidly changing dynamics of the fund industry?
  • How can firms address a skills mismatch?
  • How can asset management firms incorporate artificial intelligence into the workforce?
  • What is the role of the gig economy moving forward?
  • What can leaders do to keep themselves current?

Join us at ICI’s June 25 Changing Workforce Dynamics webinar, where industry leaders Bridie Fanning, a talent and organization expert from Accenture, and Lisa Shea, senior vice president at Northern Trust, will explore these issues and more.

For more information, click here.

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