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Karl Egbert

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Karl Paulson Egbert advises asset managers and their funds on regulatory, corporate and derivatives matters. Karl is a member of the Firm's North American Financial Institutions Steering Committee. Karl has practiced in New York, London, Hong Kong and Washington, D.C., working on fund formation, listed funds, private equity and capital markets transactions. Karl has spoken at various industry seminars on a wide range of topics including access to Chinese securities markets (Stock Connect, QFII, RQFII, CIBM), and other regulatory issues for investment managers. He is regularly quoted in publications including the Financial Times, the South China Morning Post, Ignites Asia, Asian Venture Capital Journal and Reuters. He is an adjunct professor of Law at the Georgetown University Law Center.

Join Baker McKenzie regulatory and enforcement practitioners as we navigate this uncertain time and work together through the challenges ahead. We offer practical advice and real-time analysis of the changing landscape across the United States, Europe and Asia. Inform Global Discussion Series The New Framework for Investment Adviser Marketing June…

In the waning months of the Trump administration, the then-president signed a raft of executive orders and new legislation that potentially limit access by Chinese companies to US capital markets. Chief among these actions, the Holding Foreign Companies Accountable Act (“Act”) (signed into law on 18 December 2020) bans public trading in the United States in “covered issuers” audited by firms with offices in non-US jurisdictions where the Public Company Accounting Oversight Board (PCAOB) is unable to inspect. The Act stems from a longstanding issue relating to the ability of the PCAOB to conduct inspections of audit firms in certain countries.

In the waning months of the Trump administration, the then-president signed a raft of executive orders and new legislation that potentially limit access by Chinese companies to US capital markets. Chief among these actions, the Holding Foreign Companies Accountable Act (“Act”) (signed into law on 18 December 2020) bans public trading in the United States in “covered issuers” audited by firms with offices in non-US jurisdictions where the Public Company Accounting Oversight Board (PCAOB) is unable to inspect. The Act stems from a longstanding issue relating to the ability of the PCAOB to conduct inspections of audit firms in certain countries.

Starting in March, both multinational companies and asset managers that trade US futures and certain other derivatives will face new, but long-awaited, position limit rules. The US Commodity Futures Trading Commission (CFTC or “Commission”) recently amended its rules (“Final Rule”) limiting speculative positions that market participants may take in certain commodities contracts. While the US position limit regime is intended to limit speculation on commodities, the Final Rule covers derivatives commonly used by companies to manage agricultural, energy and other commodity risks. The Final Rule expands the scope of the US position limit regime to include not only specified futures but also swaps that are economically equivalent to those futures.  

Join Baker McKenzie regulatory and enforcement practitioners as we navigate this uncertain time and work together through the challenges ahead. We offer practical advice and real-time analysis of the changing landscape across the United States, Europe and Asia. Webinar Series: The New Framework for Investment Adviser Marketing In this 4-part…

The SEC recently adopted amendments that dramatically reshape the rules governing investment adviser marketing by creating a single rule (“Marketing Rule”) for investment adviser advertising and referral arrangements. The new approach is an elegant solution designed to fulfill the SEC staff’s objective of retaining a principles-based framework while modernizing the rule to remain flexible to accommodate evolving technologies such as social media. The Marketing Rule is effective within 60 days after publication in the Federal Register, but advisers have 18 months to transition to the new requirements. 

In brief On 23 October 2020, ISDA launched the ISDA 2020 Fallbacks Protocol (the IBOR protocol) and the ISDA Fallbacks Supplement to the 2006 ISDA Definitions (the IBOR Supplement). In this alert we provide a summary of the protocol and supplement, its implications and suggested next steps for firms regarding…