Global Investment Law Watch

Exploring the legal and regulatory issues affecting the worldwide asset management community.

 

1
US Finalizes Restrictions on Outbound Investments Into China’s Semiconductors, Quantum Technologies and AI – Implications on US LP Investors
2
ASIC Enforcement for Sustainability Reporting Will be Different to Greenwashing
3
Europe: Irish Central Bank Discusses Its Approach to Exchange Traded Funds
4
SEC Says Crypto ETPs Are Exam Priority
5
Europe: Publication of Irish Funds Sector 2030 Report
6
SEC’s Division of Examinations Halloween Treat–2025 Priorities
7
Cooking the Books: CFTC Turns Up the Heat on Voluntary Carbon Market Fraudsters
8
Why the CTA Should Be at the Top of Your End-of-Year Checklist
9
Extra Credit Projects: SEC Settles Charges Against Carbon Offset Project Developer for US$250 Million Offering Fraud
10
Europe: New Irish Fast-Track Filing Process for Fund Name Changes To Comply With ESG-Related Rules

US Finalizes Restrictions on Outbound Investments Into China’s Semiconductors, Quantum Technologies and AI – Implications on US LP Investors

By Yuki Sako, Nathaniel Bolin, and Steven Hill

On 28 October, US Treasury issued new rules that restrict investment in Chinese development of semiconductors, quantum computing and AI (Covered Activity). Taking effect on 2 January 2025, the new rules are based on findings that China’s support for those industries threatens US national security.

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ASIC Enforcement for Sustainability Reporting Will be Different to Greenwashing

By: Jim Bulling, Simon Kiburg and Alex Parker

When assessing how to comply with the new reporting obligations, reporting entities should recognise the differences in the enforcement approach that ASIC will take in relation to mandatory climate reporting compared with the approach adopted by it in relation to Greenwashing.

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Europe: Irish Central Bank Discusses Its Approach to Exchange Traded Funds

By Hazel Doyle and Nicola McCaffrey

In an important speech, Derville Rowland, the Central Bank of Ireland’s Deputy Governor for Consumer and Investor Protection has outlined the Central Bank’s approach to ETFs in Ireland. Some of the points she made are highlighted in this blog.

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SEC Says Crypto ETPs Are Exam Priority

By: Keri Riemer, Peter Shea, and Lael Franco

On 21 October 2024, the SEC’s Division of Examinations (Division) published its 2025 Examination Priorities (Priorities) to provide insight into what the Division plans to focus on in the 2025 fiscal year. In addition to other areas of risk highlighted in the Priorities, the Division has advised that it will to continue to monitor – and conduct examinations if deemed appropriate – of registrants offering crypto asset-related services, including spot bitcoin or ether exchange-traded products (ETPs). However, with respect to spot bitcoin or ether ETPs, the Division’s oversight may be limited to the ETPs’ sponsors or managers rather than the ETPs themselves.

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Europe: Publication of Irish Funds Sector 2030 Report

By: Gayle Bowen and Hazel Doyle

Following a review of the Irish funds industry and wide engagement with industry participants, discussed in our earlier blog here, the Department of Finance has issued its Final Report on the Funds Sector 2030. The report sets out the Irish government’s framework and recommendations to enhance growth in the funds sector and maintain Ireland’s prominent position. 

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SEC’s Division of Examinations Halloween Treat–2025 Priorities

By: Jennifer Klass, Lance Dial, and Pablo Man

In order to discourage investment advisers, broker-dealers and investment companies from engaging in any “tricks,” the SEC’s Division of Examinations has published a treat, in the form of its 2025 Examination Priorities (the Priorities). This publication, an annual event since 2013, provides market participants with insight into what the Division of Examinations will focus on in the coming fiscal year.

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Cooking the Books: CFTC Turns Up the Heat on Voluntary Carbon Market Fraudsters

By: Cheryl L. Isaac, Clifford C. Histed, and Benjamin C. Skillin

On 2 October 2024, the Commodity Futures Trading Commission (CFTC) announced multiple actions related to fraud in the voluntary carbon credit (VCC) market, just over one year after establishing the Environmental Fraud Task Force. Specifically, the CFTC filed a complaint in federal court against the former CEO of a carbon credit project developer and, on the same day, settled charges against CQC Impact Investors LLC (CQC) and its former COO, all related to a deceptive scheme purportedly intended to reduce carbon emissions. 

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Why the CTA Should Be at the Top of Your End-of-Year Checklist

By: C. Todd Gibson, Robert H. McCarthy Jr., and Jamie M. Robinson

The time has come to finalize those end-of-year checklists and for anyone with US entities, foreign entities doing business in the United States, or for those who are planning to form or register entities to do business in the United States, the United States Corporate Transparency Act (CTA) should be at the top of the list. This includes investment advisers and funds that they manage.

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Extra Credit Projects: SEC Settles Charges Against Carbon Offset Project Developer for US$250 Million Offering Fraud

By: Pablo Man and Benjamin Skillin

On 2 October 2024, the Securities and Exchange Commission (SEC) announced settled charges against one of the largest carbon credit project developers (the Developer), for fraudulently altering data concerning its business and making material misrepresentations in the offering of equity to institutional investors in the United States. The SEC’s order found that the Developer violated Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.  

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Europe: New Irish Fast-Track Filing Process for Fund Name Changes To Comply With ESG-Related Rules

By: Áine Ní Riain and Gayle Bowen

The Central Bank of Ireland (CBI) has announced a streamlined filing process for Irish UCITS and AIFs seeking to change their name to comply with the European Securities and Markets Authority’s guidelines on funds’ names using ESG or sustainability-related terms (the Guidelines).

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