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GLOSSARY

ERISA definition

Published by a LexisNexis Pensions expert

What does ERISA mean?

The Employee Retirement Income Security Act (1974). US pension legislation, now sometimes used as a generic term to cover the whole US pension market.

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Understanding the impact of Dodd-Frank on financial derivatives

Background to the Dodd-Frank ActFollowing the financial crisis of the US capital markets in 2008, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) was enacted to increase the regulation of the US financial system. With respect to financial derivatives, Dodd-Frank:•mandates the registration and regulation of 'swap dealers' and 'major swap participants' (both terms are discussed in further detail below)•imposes clearing and trade execution requirements on standardised derivative products•requires recordkeeping and data reporting of swaps, including real-time public reporting, and •enhances federal agencies’ oversight over the swaps industryPursuant to Dodd-Frank, the US Commodity Futures Trading Commission (CFTC), which regulates the futures and option markets, and the US Securities and Exchange Commission (SEC) jointly regulate the derivatives markets. The CFTC regulates 'swaps' under the Commodity Exchange Act (CEA), and the SEC regulates 'security-based swaps' under the Securities Exchange Act of 1934, as amended (the Exchange Act). The CFTC and the SEC jointly share jurisdiction over 'mixed swaps', as defined in Section 721 (7 USCS § 6) of Dodd-Frank....

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Completion checklist/list of documents—buyout

Completion checklist/list of documents—buyout Project [insert name of project] 1 Preliminary 1.1 Heads of Agreement/Equity Term Sheet 1.2 Manager’s Questionnaires for: [insert names] 1.3 Management Business Plan 1.4 [Managers’ Tax Clearances] 2 Investment Documentation 2.1 Investment Agreement 2.2 Articles of Association 2.3 [Manager Charging Shares: 2.3.1 Letter from Manager 2.3.2 Letter from Bank] 2.4 [Management Rights Letter (ERISA funds)] 2.5 [Employee Incentive Scheme Documents] 2.6 [Manager’s new Service Agreements for: [insert names]] 2.7 Managers’ Disclosures: 2.7.1 Letter from Manager 2.7.2 Disclosed Documents 3 Board/Shareholder Documentation 3.1 Newco Board Minutes: 3.1.1 Incorporation 3.1.2 Hand Over 3.1.3 Completion Matters 3.1.4 Post-Completion Matters 3.2 Shareholder Resolutions: 3.2.1 Waiver of Rights 3.2.2 New/Revised Articles of Association 3.2.3 Share Issues 3.2.4 Completion Matters 3.2.5 Post-Completion Matters 4 Miscellaneous 4.1 [Foreign Legal Opinion] 4.2 Statutory Books for Newco (written up to

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