February 12, 2021 Alert

Hi all,

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

This Issue’s Topics:

  • White Paper: Comprehensive Analysis and Application of the SEC’s New Marketing Rule
  • FREE: Family Office Exchange (FOX) Webcast Replay: Ten Dynamic Forces For Change
  • FREE: Stradley, Ronon and EY Webcast: An Evolving Industry: Mutual Funds Converting to ETFs – What You Need to Consider
  • CBA Securities Law Committee Meeting: Market Manipulation – Views from our Regulators
  • 100 Women in Finance Webinar: Fireside Chat with Sharon Bowen, former CFTC Commissioner
  • PEAK: Women’s Private Equity Summit

Publications:

Stradley Ronon White Paper: Comprehensive Analysis and Application of the SEC’s New Marketing Rule
February 9, 2021

On December 22, 2020, the U.S. Securities and Exchange Commission (the “SEC”) adopted significant amendments to the advertising and solicitation rules applicable to registered investment advisers under the Investment Advisers Act of 1940, as amended (the “Advisers Act”), as well as amendments to related rules governing recordkeeping and Form ADV (collectively, the “Amendments”). Specifically, the SEC simultaneously amended Rule 206(4)-1 (the current “Advertising Rule”) and rescinded Rule 206(4)-3 (the current “Cash Solicitation Rule” and, together with the Advertising Rule, the “Existing Rules”) to create a new combined marketing Rule 206(4)-1 (the “Marketing Rule”), which will comprehensively govern both advertising activities of advisers, as well as how they enter into solicitation/referral arrangements. The SEC also amended Rule 204-2 (the “Books and Records Rule”) under the Advisers Act to account for new recordkeeping obligations relating to the Rule and amended Form ADV to request additional information from advisers regarding their marketing activities.

To read more, click here.

Events:

Family Office Exchange (FOX) Webcast Replay: Ten Dynamic Forces For Change

FOX experts took a look back at the events of 2020 and discussed their implications for 2021.

External Driving Forces

  • Rising Political Unrest and Economic Uncertainty
  • Crisis Revealing More Opportunities
  • Converging Technologies Accelerate the Transformation

Changing Family Views

  • Shifting Views in the Family Enterprise
  • Sustainable Direct Investment Ecosystem
  • Heightened Commitment to Family Learning
  • Evolving Views on Social Responsibility and Philanthropy

Family Office Evolution

  • Growing Complexity Shapes Services and Cost
  • Escalating Cybersecurity and Data Privacy Breaches
  • Integrations in Technology Increase Value

To view replay, click here.

FREE: Stradley, Ronon and EY Webcast: An Evolving Industry: Mutual Funds Converting to ETFs – What You Need to Consider
Wednesday, February 17, 2021, 11:30 A.M.-12:30 P.M. CDT

As the popularity of exchange-traded funds continues to grow, some traditional mutual fund managers are interested in converting their products to ETFs. There are several operational, legal, tax and accounting implications to consider before converting.

Join us for a discussion on the latest developments in the evolving industry of mutual funds and ETFs. In this webcast, panelists will discuss:

  • Impacts to compliance, operations and infrastructure.
  • Legal and tax implications.
  • Accounting and regulatory reporting requirements.

Panel:

  • Amy Snyder of EY
  • Matthew R. DiClemente of Stradley Ronon
  • Ben Slavin of BNY Mellon Asset Servicing
  • Kristy Von Ohlen (moderator) of EY

For more information, click here.

CBA Securities Law Committee Meeting: Market Manipulation – Views from our RegulatorsThursday, February 18, 2021, 12:00-1:30 P.M. CDT

Speakers:

  • Tina Gubb from FINRA
  • Simona Suh from the SEC
  • Andrew Palid from the SEC

Illinois MCLE credit available. You MUST register to attend committee meetings this year.  To register, click here.

Once you have registered for the meeting, to view the committee meeting webcast, go to https://learn.chicagobar.org/my-dashboard and log-in.  The meeting will be listed under Upcoming Live Events. Click on the Meeting Name to access the live webcast, then click on Early Login is Open, then click on Open Zoom meetings and wait for the meeting to begin. Note, you must have Zoom Desktop Client on your Mac or PC to view a live program. If using a mobile device, you must have the Zoom App.  Need help? Find FAQs here: or email seminars@chicagobar.org (response time may be delayed).

100 Women in Finance Webinar: Fireside Chat with Sharon Bowen, former CFTC Commissioner
Friday, February 19, 2021, 11:00 A.M. CDT

Sharon Bowen was the first African American and the first African American woman to serve as a Commissioner of the Commodity Futures Trading Commission. Her career of nearly 40 years includes regulatory, securities and public policy expertise.

Gain insights as Commissioner Bowen shares experiences on how she advanced in her career, as well as her many years of advocacy for women and for diversity. She will reflect on what remains to be achieved to ensure that women are represented in the next generation of leadership in law, public policy and financial services.

Speakers:

  • Elizabeth Crain of Moelis & Company
  • Sharon Bowen of Seneca Women
  • Jane Ma (Moderator) of Moelis & Company

For more information, click here.

PEAK: Women’s Private Equity Summit
March 10-11, 2021

While we await a return to our in-person Summit later this year, our Virtual Summit will provide you with access to timely, interactive discussions on how the industry has changed over the past year and how both LPs and GPs are thinking about moving forward. You’ll also have the unique opportunity to connect virtually in small networking groups and 1-on-1 meetings, all from the comfort of your own home or office.

Agenda Highlights

Over the course of two, half-days, leading industry professionals will discuss investing, fundraising, liquidity, co-investing, due diligence strategies, and the continued push for diversity.

Program highlights include: 

A Shot in the Arm: How Will Investing Be Altered as Society Reopens?  With vaccination rates increasing, there are signs that things may be getting back to normal. But what will that mean for VC and PE professionals? How will the events of 2020 impact dealmaking? What sectors will garner interest and where might valuations be headed? Our panel provides perspective on how they and their firms are thinking about these key questions.

The CIO View: Looking Back and Looking Forward Being a chief investment officer is no easy task. 2020 just added to the stress, especially given the stock market’s see-sawing. In this special interview, Roz Hewsenian, longtime CIO of the Helmsley Trust, sits down to discuss how the foundation navigated the past year, how it is thinking about the year to come, and the role that private equity and venture capital is playing, or may play, in those plans.

Weighing the Impact of the Pandemic: The LP Perspective Institutional investors deployed billions of dollars over the past year, much of that coming while they were in their homes. In addition to backing funds, they also, in some cases, took part in deals as well. But will 2020 be looked at as having been a good vintage year? And what about the way business was conducted. Will that continue? Our panel discusses how they’ve dealt with the past year and what they are seeking going forward – both in terms of returns and the approach of PE & VC firms.

For more information, click here.

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