• Sara Ghadiri, Chapman's Pro Bono Counsel, featured in Of Counsel
    Sara Ghadiri, Chapman's Pro Bono Counsel, featured in Of Counsel
  • Recent SEC Enforcement Actions of Note
    Recent SEC Enforcement Actions of Note

    There have been several recent notable enforcement actions, including continued enforcement by the SEC and CFTC against off-channel communications, as well as an SEC fraud settlement with Macquarie Investment Management Business Trust.

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  • Investment Management Regulatory Update: Q3 2024
    Investment Management Regulatory Update: Q3 2024

    Chapman's quarterly Regulatory Update contains an overview of the latest regulatory actions, market happenings, and litigation and enforcement activity in the investment management space.

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  • CFTC Updates Regulation 4.7 Without Adopting the Proposed Disclosure Requirements
    CFTC Updates Regulation 4.7 Without Adopting the Proposed Disclosure Requirements

    On September 12, 2024, the Commodity Futures Trading Commission (CFTC) adopted amendments to CFTC Regulation 4.7 (Reg. 4.7), a rule that provides exemptions from the broader compliance requirements under Part 4 of the CFTC regulations (Part 4) for registered commodity pool operators (CPOs) with respect to pools (4.7 pools) offered solely to “Qualified Eligible Persons” (QEPs) and registered commodity trading advisors (CTAs) that advise or manage commodity trading accounts of QEPs. The amendments (i) increase the financial thresholds in the “Portfolio Requirement” of the QEP definition and (ii) permit CPOs of fund of fund pools offered solely to QEPs to provide monthly account statements within 45 days of the month-end, rather than providing quarterly account statements within 30 days of the quarter-end. The CFTC chose not to adopt, at this time, the proposed minimum QEP disclosures.

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  • Chapman Welcomes Partner Peter Hong
    Chapman Welcomes Partner Peter Hong

    A recognized securities and commodities regulatory authority, Peter’s practice focuses on the registration and regulation of investment advisers, broker-dealers, commodity trading advisors, commodity pool operators, and introducing brokers, as well as the formation and ongoing compliance obligations of registered and private investment companies.

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  • Social Impact and Sustainability Report 2024
    Social Impact and Sustainability Report 2024

    Chapman's 2024 Social Impact and Sustainability report showcases our commitment to the United Nations Global Compact (UNGC).

  • Financial Regulatory Agencies Propose Rule Mandated by the Financial Data Transparency Act
    Financial Regulatory Agencies Propose Rule Mandated by the Financial Data Transparency Act

    On August 22, 2024, a proposed rule (the “Proposed Joint Rule”) mandated by the Financial Data Transparency Act of 2022 (the “FDTA”) and adopted by nine federal financial regulators, including the U.S. Securities and Exchange Commission (the “SEC” and, together with the other eight regulators, the “Covered Agencies”), was published in the Federal Register. 

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  • Interval and Tender Offer Closed-End Funds: Investment Company Alternatives to Traditional Funds
    Interval and Tender Offer Closed-End Funds: Investment Company Alternatives to Traditional Funds

    Chapman's white paper provides a summary of the interval fund and tender offer fund structures, including their basic legal framework, their investment restrictions, how they are distributed and how they facilitate redemptions. It also provides a comparison of interval funds and tender offer funds, both to each other and to other types of investment companies.

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  • Counsel to Two Spot Ether ETFs Approved by SEC
    Counsel to Two Spot Ether ETFs Approved by SEC

    Chapman acted as counsel on the registration and listing of two of the first eight spot Ethereum (ether) exchange-traded funds (ETFs) to begin trading in the United States, following the U.S. Securities and Exchange Commission (SEC) declaring the registration statements for the ether ETFs effective on July 22, 2024.

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  • Chapman Welcomes Derivatives Partner Curtis Doty
    Chapman Welcomes Derivatives Partner Curtis Doty

    A recognized authority in the commercial law, regulatory, and insolvency aspects of derivatives, Curtis Doty further expands the firm's capacity to advise on complex derivatives issues and transactions across multiple sectors of finance.

  • Supreme Court Rejects Non-Consensual Third-Party Releases for Sacklers in Purdue Pharma Bankruptcy, Reversing Second Circuit
    Supreme Court Rejects Non-Consensual Third-Party Releases for Sacklers in Purdue Pharma Bankruptcy, Reversing Second Circuit

    On June 27, 2024, the United States Supreme Court ruled in favor of the United States Trustee, who had objected to Purdue’s plan of reorganization that granted releases of third party claims to members of the Sackler family in exchange for their contribution of up to $6 billion to the Purdue bankruptcy estate. Justice Neil Gorsuch, writing for the majority, found that the type of relief being granted to the Sacklers (i.e., a blanket shield from all existing or potential liability relating to the opioid crisis) represented the kind of “discharge” only available to debtors who have “placed all their assets on the table.”

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  • First Circuit Rules PREPA Bondholders Have a Secured Claim on Current and Future Net Revenues
    First Circuit Rules PREPA Bondholders Have a Secured Claim on Current and Future Net Revenues

    In a decision that should help restore investors’ faith in the protections afforded municipal bondholders under the United States Bankruptcy Code (the “Bankruptcy Code”), on June 12, 2024, the United States Court of Appeals for the First Circuit (the “First Circuit” or the “Court”) held that the bondholders (the “Bondholders”) of certain Puerto Rico Electric Power Authority (“PREPA”) electric revenue bonds (the “Bonds”) have a non-recourse claim against PREPA’s estate in PREPA’s reorganization proceedings under Title III of the Puerto Rico Oversight, Management, and Economic Stability Act, 48 U.S.C. §§ 2161-78 (“PROMESA”), for the full principal amount of their outstanding Bonds, plus matured interest, of approximately $8.5 billion, and that the Bonds are secured by PREPA’s current and future Net Revenues.

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We have always been focused on finance.

  • 1913
    TS Chapman partners with Henry Cutler to form Chapman and Cutler
  • 1st
    Chapman's first client in 1913 is still a client of the firm today
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    Diverse financial practices serving regional, national, and global clients
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    Offices across the country and in key US financial centers

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