Los gestores latinos deben entender las regulaciones de EE. UU. para atraer inversores. Los errores pueden tener graves consecuencias legales o incluso penales.
Continue readingNavegando el cumplimiento en EE. UU. para gestores latinos
Navigating U.S. Compliance for Latin American Fund Managers
For Latin American fund managers targeting U.S.-based investors, understanding the intricacies of the United States regulatory environment is crucial. Mistakes can literally have legal, and even possibly criminal, consequences.
Continue readingCalifornia moves closer to regulations on automated decision making technology
In recent months, the California Privacy Protection Agency (“CPPA”) has taken significant strides towards regulating the use of automated decision-making technology (“ADMT”), marking a pivotal moment in the evolution of privacy protection laws.
Continue readingNew regulations on “employee” and “independent contractor” classification
The U.S. Department of Labor modified wage and hour regulations to replace its criteria for determining employee or independent contractor classification under the Fair Labor Standards Act. These changes most likely impact you if you hire independent contractors.
Continue readingUnveiling a New Era of Business Transparency with the Corporate Transparency Act
In the business world, transparency is not just a buzzword; it’s a pivotal aspect of corporate integrity. The Corporate Transparency Act (“CTA”) marks a significant shift in this realm, ushering in an era where understanding and complying with beneficial ownership reporting becomes crucial for every business entity.
Continue readingSEC ADOPTS RULES FOR PRIVATE FUND ADVISERS
Earlier this year, the U.S. Securities and Exchange Commission (the “SEC”) adopted several new rules affecting private fund advisers. This article discusses changes applicable to illiquid funds, which are those in which investors may not redeem their interests at will. Most venture capital, private equity and other similar closed-end funds would be considered illiquid funds so long as opportunities to redeem are limited.
Continue readingDOJ Announces New Mergers and Acquisitions Safe Harbor Policy
On October 4, 2023, Deputy Attorney General Lisa Monaco announced the new Mergers & Acquisitions (M&A) Safe Harbor Policy of the Department of Justice (“DOJ”). Under the new policy, acquiring companies that discover and disclose misconduct in a target or recently acquired company may, subject to certain conditions and limitations, enjoy the presumption of a declination to prosecute (that is, a formal statement that the DOJ will not prosecute the company) by the DOJ.
Continue readingFTC to Enact Amendment to Safeguards Rule Regarding Non-Bank Financial Institution Data Breaches
The Federal Trade Commission (FTC) made a significant announcement on October 27, 2023 regarding changes to the Safeguards Rule of the Gramm-Leach-Bliley Act (GLBA). These changes now require non-bank financial institutions to report specific data breaches and security incidents to the agency.
Continue readingUsing ChatGPT and Other AI-based Technologies for Lawyers
This post outlines some of the key limitations of using Artificial Intelligence programs such as ChatGPT and sets out guidelines that attorneys and staff should follow when using such programs. These best practices help ensure that lawyers will not violate any ethics rules and properly understand the limitations of these technologies.
Continue readingThe Corporate Transparency Act – Pay Attention To the Beneficial Owner Behind the Curtain
Congress’s January 1, 2021 passage of the National Defense Authorization Act for Fiscal Year 2021 included passage of the Corporate Transparency Act (“CTA”), and in doing so established reporting requirements for many U.S. businesses with the intent of creating a database of beneficial ownership controlled by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”).
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