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Patrick D. Sweeney: publications
Profile Matters News Events Publications
September 2014 Corporate Alert
Edward B. Stevenson, Daniel A. Etna
Herrick's Corporate Alert touches on new developments in Delaware, New York, New Jersey, and SEC law. Also, check out Herrick Advantage for information on our events.
Recent CFTC and SEC Actions Impacting Private Fund Managers
September 23, 2014
Irwin M. Latner, Patrick D. Sweeney
Private Funds Alert
This private funds alert summarizes (i) a recent relief letter issued by the CFTC harmonizing certain of its commodity pool operator (CPO) registration exemptions with recently issued rules by the SEC under the JOBS Act, and (ii) recent enforcement actions by the SEC against numerous financial firms for violating the Rule 105 proscription against short selling within the restricted period before a public offering.
The Volcker Rule
September 17, 2014
Patrick D. Sweeney
Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, also known as the Volcker Rule ("the Rule"), was signed into law on July 21, 2010. The Rule adds a new Section 13 to the Bank Holding Company Act of 1956 and it is codified at 12 USC § 1851. Regulators presented proposed regulations regarding the Rule on October 11, 2011 and gave the public until February 13, 2012 to submit comments. Finally, on December 10, 2013, all five regulators approved the final regulations and these were published in the Federal Register in January, 2014 as an interim final regulation. Institutions within the scope of the Rule must now begin finalizing strategies related to further involvement with activities regulated under the Rule.
July 2014 Corporate Alert
Edward B. Stevenson, Daniel A. Etna
Herrick's Corporate Alert touches on new developments in Delaware, New York, New Jersey, and SEC law. Also, check out Herrick Advantage for information on our events.
Delaware Supreme Court Holds That Boards May Adopt Fee-Shifting Bylaws
June 10, 2014
Edward B. Stevenson, Stephen D. Brodie, Patrick D. Sweeney
In ATP Tour, Inc. v. Deutscher Tennis Bund, the Delaware Supreme Court recently found that a provision in a Delaware corporation's bylaws, if drafted for a proper corporate purpose, may provide that the losing party in intra-corporate litigation must pay the winning party's legal fees.
SEC Scrutinizes Fee and Expense Practices at Private Equity Fund Advisers
May 2014
Irwin M. Latner, Patrick D. Sweeney, Colin Bowes-Carlson
Private Fund Alert
In a recent speech, the director of the SEC's Office of Compliance Inspections and Examinations ("OCIE"), Andrew Bowden, identified key compliance issues facing private equity firms observed by OCIE since it began conducting presence exams of the industry in October 2012.
The Volcker Rules for the Volcker Rule
February 2014
Patrick D. Sweeney, Julie Albinsky
Dodd-Frank Alert
A fundamental principle underscoring the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 ("Dodd-Frank" or the "Act") is the perceived necessity to curb the proprietary trading and other risk-taking activities of banks, and to divest banks of risky assets, including interests in hedge funds and private equity funds.
SEC Announces Examination Priorities For 2014
January 2014
Irwin M. Latner, Patrick D. Sweeney, Colin Bowes-Carlson
Securities Alert
On January 9, 2014, the Securities and Exchange Commission (the "SEC") published its annual letter announcing examination priorities for 2014 (the "Priorities Letter"). The Priorities Letter, which addresses both industry-wide and area-specific initiatives, aims to provide investment advisers, funds, broker-dealers, and other industry participants with a preview of key risks that the SEC intends to monitor and examine in 2014 through the National Examination Program.
Dodd-Frank Brings Regulatory Change to Investment Advisers
May 13, 2013
Patrick D. Sweeney, Matthew H. Kunkes
New York Law Journal
Patrick Sweeney, a corporate partner at Herrick, Feinstein and Matthew Kunkes, a corporate associate, were featured in the May 13, 2013 Financial Reform Special Section of the New York Law Journal. Their article addresses the regulatory impact  of Dodd-Frank on investment advisers and discusses changes emanating from Dodd-Frank's Title IV, the "Private Fund Investment Adviser Registration Act of 2010."
Dodd-Frank Wall Street Reform Outline
Irwin M. Latner, Stephen D. Brodie, Patrick D. Sweeney, Julie Albinsky, Jessica D. Wessel
This outline, a briefing on the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, was used during the Fourth Annual Capital Markets Symposium on September 16, 2010.
SEC Proposes “Family Office” Definition
November 2010
Irwin M. Latner, Patrick D. Sweeney, Richard M. Morris
Hedge Fund and Private Equity Fund Alert
Recent Changes to "Accredited Investor" Standard
July 2010
Irwin M. Latner, Patrick D. Sweeney
Hedge Fund and Private Equity Fund Alert
Impact of New Financial Reform Legislation
July 2010
Irwin M. Latner, Patrick D. Sweeney
Hedge Fund and Private Equity Fund Alert
SEC Steps Back Up To The Plate of Hedge Fund Regulation
February 13, 2007
Patrick D. Sweeney
Complinet
Pat Sweeney’s Hedge Fund Regulation Corporate Quick Hit is republished on Complinet’s US Securities & Banking online news service.
The SEC's Hedge Fund Manager Registration Rule Becomes Effective
March 2006
Patrick D. Sweeney
Loan Syndication and Trading Association (LSTA) Annual Loan Market Review
Pat Sweeney's article "The SEC's Hedge Fund Manager Registration Rule Becomes Effective" appears in the Loan Syndication and Trading Association (LSTA) Annual Loan Market Review.
Current Regulatory Developments Concerning the Distribution of Mutual Fund Shares
May 2005
Patrick D. Sweeney
The Investment Lawyer
Pat Sweeney's article entitled "Current Regulatory Developments Concerning the Distribution of Mutual Fund Shares" appears in The Investment Lawyer.
Mutual Fund Shares Distributions: the Changing Rules of the Game
February 2005
Patrick D. Sweeney
The Journal of Taxation and Regulation
Pat Sweeney authors this article on mutual fund shares distributions.