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Article
Court Of Chancery Opens The Door For Expanded Caremark Liability Based On Workplace Misconduct Oversight Failures
Recently, the Delaware Court of Chancery held in Los Angeles City Employees’ Retirement System v. Glenn Sanford, et al. (“eXp”) that officers’ and directors’ fiduciary oversight obligations may extend to the investigation and remediation of workplace sexual misconduct and that a failure to respond adequately in good faith to such claims may constitute a breach of fiduciary duty under the Caremark doctrine.
United States Commercial
CW
Cadwalader, Wickersham & Taft LLP
Article
Open-End Registered Funds Get A Seat At The Table: SEC Staff Extends Co-Investment Relief To All Registered Funds
On April 27, 2026, the staff ("Staff") of the SEC's Division of Investment Management closed that gap by issuing a no-action letter in response to a request from J.P. Morgan Investment Management Inc. ("JPMIM"), confirming that Open-End Registered Funds may rely on an Order as "Regulated Funds," subject to compliance with the Order's terms and conditions.
United States Commercial
ST
Simpson Thacher & Bartlett
Article
What A Relief! SEC Staff Extends Co-Investment Orders To Open-End Funds And Allows Delegation To Board Committee
On 27 April 2026, the staff (Staff) of the Securities and Exchange Commission (SEC) issued a no-action letter that extends to open-end funds, subject to certain conditions, exemptive relief that permits business development companies (BDCs) and registered closed-end funds to co-invest alongside affiliates in transactions otherwise prohibited under Sections 17(d) and 57(a)(4) of the Investment Company Act of 1940, as amended.
United States Commercial
KG
K&L Gates LLP
Article
An Assessment Of EPA’s Progress In Deploying Artificial Intelligence In Regulatory Decision-Making
The Trump administration has positioned artificial intelligence as a key tool for federal agency efficiency, with the EPA announcing plans to deploy AI across its regulatory functions. While implementation has been slower than anticipated, the agency is moving toward AI-assisted decision-making in areas ranging from enforcement targeting to scientific literature review, raising important questions about transparency, accountability, and compliance with the Administrative Procedure Act.
United States Environment
GT
Greenberg Traurig, LLP
Article
SEC Staff Extends Existing Section 16(a) Reporting Relief To Companies Impacted By Conflict In The Middle East
The SEC's Division of Corporation Finance has extended no-action relief for Israeli foreign private issuers and their directors and officers struggling to meet Section 16(a) beneficial ownership reporting requirements amid the ongoing Middle East conflict. This extension, now running until May 29, 2026, addresses the practical challenges of compliance in a volatile military environment where access to essential services and infrastructure remains disrupted.
United States Commercial
MB
Mayer Brown
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