The Securities and Exchange Commission voted on Wednesday to propose amendments to the definition of accredited investor, a step towards allowing more individual investor participation in private funds. Under the newly proposed rule, additional categories of investors may be qualified to participate in private markets beyond the current monochrome standard based on income and net worth.
Cadwalader and consultants Sia Partners recently produced a comprehensive benchmarking study on LIBOR transition efforts. More than 75 organizations participated, including U.S. and foreign GSIBs, foreign banks with a sizeable U.S. presence, regional and super-regional banks, insurance companies, corporate and financial end-users, third parties and trade associations.
Dee Dee Sklar of Wells Fargo this week formally announced her retirement from the bank effective December 31, a major milestone event for our industry.
We have had a couple of very active weeks since the last edition of FFF. With that in mind, Jeremy and I coordinated this week to provide our combined observations as we head into the home stretch.