Investors in certain condominium units asked the United States Supreme Court to review a federal appeals court’s conclusion that the sale of the units, when coupled with a separate rental-management agreement, were not securities under state or federal law.  See Salameh v. Tarsadia Hotel, U.S., No. 13-763, 12/24/13.  The plaintiffs believe this was an “investment

The SEC granted filing extensions and other regulatory relief for the entities effected by Hurricane Sandy.

Previously, the SEC extended several deadlines, and allowed certain exemptive forms to be used.  However, one of the more important offers of assistance is the SEC staff is willing to view matters on a case by case basis if additional assistance is necessary. 

Recently, the SEC’s newest commissioner, Commissioner Daniel Gallagher, discussed certain of his beliefs, including, among other things, that the SEC should use its exemptive authority derived from the Investment Advisers Act of 1940, to provide some relief for hedge fund and private equity investment mangers from the registration provisions of said Act. 

Gallagher believes that the full registration regime should not