Partner Todd Zerega is the co-chair of the Investment Management practice and advises asset managers and other financial institutions in connection with their compliance with federal securities laws, the development and launch of investment products, such as ETFs, and with respect to their trading of portfolio investments, such as derivatives, repurchase agreements and other complex investments. Todd represents fund companies and their independent directors in connection with their responsibilities under the Investment Company Act of 1940 and the Investment Advisers Act of 1940.
Todd’s practice also includes advising asset managers on their M&A activity, including the purchase and sales of registered investment adviser complexes. Todd is also a member of Perkins Coie’s Blockchain Technology & Virtual Currency group and advises clients on the application of blockchain/distributed ledger technology to capital market transactions and security and derivative issues with respect to the launch of virtual currencies or tokens.
Representative matters for which Todd has counseled or is counseling clients include the following:
- Represented client on launch of line of currency and commodity ETFs
- Obtained SEC exemptive relief on behalf of a client for a line of actively managed and smart beta ETFs
- Seeking novel relief for actively managed ETFs that are organized as share classes of existing mutual funds
- Advising on structuring of closed-end interval funds
- Advised client on security law aspects of launch of a virtual currency
- Establishment of repurchase agreement and derivatives trading programs, including both OTC and cleared programs
- Represented $80 billion money market complex in strategic M&A transaction with third-party purchaser
- Advising on SEC and other regulatory examinations, inquiries and information requests
- Reviewing prime brokerage and margin arrangements and related documentation
Todd has represented numerous clients in connection with Tri-Party Repo reforms and served on the Payment Risk Committee of the Federal Reserve Bank of New York as a member of the legal sub-group of the Task Force on Tri-Party Repo Infrastructure.
- Recommended by The Legal 500: Industry Focus: M&A/Corporate and Commercial - M&A: middle market (sub-$500m), 2015
- WesMark Funds, Secretary
- Mt. Lebanon, PA Hospital Authority, Director