United States: Fund Management/ REITs

On June 11, the Supreme Court handed closed-end fund sponsors a significant procedural win, holding that Section 47(b) of the ICA does not impliedly empower private parties to bring rescission suits.

The Supreme Court's landmark decision in FS Credit Opportunities Corp. v. Saba resolves a critical circuit split regarding Section 47(b) of the Investment Company Act of 1940, determining whether activist investors can bring private lawsuits to rescind fund contracts based on alleged regulatory violations. This ruling fundamentally reshapes the litigation landscape for registered investment companies, their directors, and service providers by clarifying the boundaries of federal enforcement mechanisms versu

The U.S. Supreme Court has ruled that Section 47(b) of the Investment Company Act does not create an implied private right of action for rescission, fundamentally reshaping how fund governance measures can be challenged in federal court. This landmark decision narrows federal litigation pathways for activists while elevating the importance of SEC enforcement, state-law claims, and meticulous board governance practices.

As artificial intelligence drives unprecedented demand for data centers, power availability has emerged as the critical bottleneck constraining asset value and investment returns.

Green Street Advisors has revised its governance scoring methodology to penalize public REITs that use OP unit-based compensation, arguing it creates potential misalignment between management and shareholders.

The US Securities and Exchange Commission (SEC) issued its periodic inflation adjustment to the “qualified client” dollar amount tests under Rule 205-3, with the new thresholds taking effect on June 29, 2026.

Three partners from Foley & Lardner share key insights from the Milken Institute Global Conference in Beverly Hills, including Jensen Huang's perspective on AI infrastructure...

Explore comprehensive regulatory updates and legal developments in financial services, from OCC preemption decisions on mortgage escrow accounts to Federal Reserve fraud prevention initiatives...

The NAIC Life Risk-Based Capital Working Group has voted to reduce the RBC factor for life insurers investing in performing residential mortgage loans through unaffiliated joint ventures, partnerships, or LLCs from 1.75% to 0.68%.