Investment Company Act Circuit Split Exposes Mutual Funds

By Mark Holland, Mike Isenman and Jamie Fleckner (August 26, 2019, 2:26 PM EDT) -- The Investment Company Act of 1940[1] regulates mutual funds, exchange-traded funds and certain other pooled investment vehicles. Since 2002, federal courts have refused to find that implied private rights of action exist under the act. Earlier this month, however, the U.S. Court of Appeals for the Second Circuit held in Oxford University Bank v. Lansuppe Feeder LLC that private plaintiffs may bring actions under Section 47(b) of the act[2] for rescission of contracts that violate the act....

Law360 is on it, so you are, too.

A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.


A Law360 subscription includes features such as

  • Daily newsletters
  • Expert analysis
  • Mobile app
  • Advanced search
  • Judge information
  • Real-time alerts
  • 450K+ searchable archived articles

And more!

Experience Law360 today with a free 7-day trial.

Start Free Trial

Already a subscriber? Click here to login

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!