February 25, 2021 Alert

Hi all,

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

This Issue’s Topics:

  • FREE: The Activist Insight Podcast: ESG Developments
  • SEC Division of Investment Management Primer
  • ISS Whitepaper: Volatile Transitions Navigating ESG in 2021
  • Client Alert: Complying with the CFTC’s New Statutory Disqualification Bar for Exempt CPOs — Answers to Frequently Asked Questions
  • MFDF: ESG, Proxy Voting and Engagement – Where DOL and SEC Regulation has Been and Where it May be Going
  • Chicago Financial Women Virtual Networking Event: Celebrate International Women’s Day!

Publications/Broadcasts:

FREE: The Activist Insight Podcast: ESG Developments
February 22, 2021

George Michael Gerstein and Sara P. Crovitz, members of Stradley’s environmental, social & governance group, joined host Kieran Poole of The Activist Insight Podcast to discuss recent developments out of the DOL and SEC regarding ESG. The Activist Insight Podcast, which is produced by Activist Insight, can be found on all major podcast platforms, including Apple Podcasts, Spotify and YouTube.

For more information, click here.

SEC Division of Investment Management Primer

The primer discusses the use of repurchase agreements (repos) by money market funds (MMFs) and provides a quantitative view of key repo metrics using data from the U.S. Securities and Exchange Commission (SEC) and the Federal Reserve. The metrics cover historical trends in repo assets and liabilities, repo holdings by MMFs, counterparty types, settlement arrangements, collateral securities, and margining practices.

To read the full primer, click here.

ISS Whitepaper: Volatile Transitions Navigating ESG in 2021

As the world seeks to reconcile the impacts of the first, second and subsequent waves of COVID-19, investors and market participants usher in 2021 with equal measures of optimism and consternation. While working with uncertainty has been a modus operandi of the industry since its inception, 2020 tested the resolve of even the most seasoned Environmental, Social and Governance (ESG) investor: the oft-prophesied Black Swan event collided with already intensifying ecological, economic and socio-political pressures, paralyzing companies, cities and democracies across the world. In this climate, the role of the responsible investor emerges with renewed purpose.

To read more about ESG considerations outlined by ICI, click here.

Stradley Ronon Client Alert: Complying with the CFTC’s New Statutory Disqualification Bar for Exempt CPOs — Answers to Frequently Asked Questions
February 18, 2021

At an open meeting held on June 4, 2020, the Commodity Futures Trading Commission (Commission) unanimously adopted amendments to Rule 4.13, the Commission’s rule providing a number of commodity pool operator (CPO) registration exemptions for persons engaged in certain limited CPO activities, that impose an important new condition. The amendments require a person claiming a CPO exemption under Rules 4.13(a)(1), (2), (3), or (5) (Covered Exemptions) to represent that “neither the person nor any of its principals has in its background a statutory disqualification that would require disclosure under section 8a(2) of the [Commodity Exchange] Act if such person sought registration,” with a limited exception for matters previously disclosed in an application for registration that was granted. This requirement is imposed under a new paragraph (b)(1)(iii) of Rule 4.13, which effectively acts to bar persons that have a Section 8a(2) statutory disqualification in their background, or whose principals do, from relying on a Covered Exemption, unless the limited exception is available or the person obtains an individual exemption. The amendments finalize a proposal published in October of 2018 (Proposal), with significant changes made in response to concerns raised by commenters on the Proposal.

To read more, click here.

Events:

MFDF: ESG, Proxy Voting and Engagement – Where DOL and SEC Regulation has Been and Where it May be Going
Thursday, February 25, 2021, 1:00-2:00 P.M. CDT

ESG investing continues to gain steam with investors and asset managers globally. US regulators, particularly the SEC and DOL, are catching up. George Michael Gerstein and Sara Crovitz will update you on the state of current DOL and SEC regulation around ESG and proxy voting/engagement and what may be coming from the regulators under new leadership.

Who Should Attend? All independent directors, CCOs, and professionals in the fund industry are welcome to participate. Forum webinars are closed to the media.

For more information, click here.

Chicago Financial Women Virtual Networking Event: Celebrate International Women’s Day!
Monday, March 8, 2021, 5:00-6:30 P.M., CDT

Chicago Financial Women invites you to join us for a virtual happy hour networking session in celebration of International Women’s Day!

International Women’s Day is a global day celebrating the social, economic, cultural and political achievements of women. International Women’s Day has occurred for over a century – the first in 1911 was supported by over a million people. CFW’s mission is to connect, empower and uplift women – so let’s get together and celebrate one another.

Please RSVP before 12 pm on Monday, March 8th.  For more information, click here.

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