Awards & Recognition
Schulte Announces 2021 Brooks Burdette Fellow
June 2021
Schulte investment management associate Sunghyo Kim has been chosen as the 2021 Brooks Burdette Fellow. As a recipient of the fellowship award, Sunghyo will work full-time at the Asian American Legal Defense and Education Fund (AALDEF) through the end of the year. Founded in 1974, AALDEF is a New York-based national organization that protects and promotes the civil rights of Asian Americans. Combining litigation, advocacy, education and organizing, AALDEF works with Asian American communities across the country to secure human rights for all. AALDEF has been a pro bono client since 2007, and Schulte has provided general counsel in connection with employment, real estate, corporate governance, trust and estates and tax matters, while also partnering with them to work on staffing their election protection hotline and researching immigration issues and the rights of protesters. Sunghyo’s work will range from supporting survivors of Anti-Asian hate crimes and discrimination, to providing assistance on immigration matters, to working with AALDEF’s Democracy Project.
In 2009, Schulte created the Brooks Burdette Fellowship in honor of the late litigation partner who was a long-time chair of the Pro Bono Committee and whose commitment to public interest work while at the firm was exemplary. Brooks was a board member of the Lawyers’ Committee for Civil Rights Under Law and was the first chair of the Board of Democracy Prep, a Harlem charter school.
Practices
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The US Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) have overhauled Form PF and private fund managers have until March 12, 2025, to begin reporting on the new Form. The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1]
Alerts
On March 1, 2024, New York Governor Kathy Hochul signed into law an amended version of the New York LLC Transparency Act (“NYLTA”),[1] requiring certain limited liability companies (“LLCs”) formed or authorized to do business in New York (each, a “NY Reporting Company”) to file a beneficial ownership information (“BOI”) report with the NY Department of State (“NY DOS”). Each NY Reporting Company will be required to disclose on its BOI report identifying information pertaining to each individual who directly or indirectly exercises substantial control or owns or controls 25 percent or more of the ownership interests of a NY Reporting Company (each, a “Beneficial Owner”) and the individuals involved in the NY Reporting Company’s formation or registration to do business in New York (each, an “Applicant”). Information reported to NY DOS will be maintained in a private database not accessible to the public. The NYLTA goes into effect on Jan. 1, 2026 and requires the NY DOS to promulgate regulations implementing the legislation.
Alerts
The US Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) have overhauled Form PF and private fund managers have until March 12, 2025, to begin reporting on the new Form. The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1]
Alerts
On March 1, 2024, New York Governor Kathy Hochul signed into law an amended version of the New York LLC Transparency Act (“NYLTA”),[1] requiring certain limited liability companies (“LLCs”) formed or authorized to do business in New York (each, a “NY Reporting Company”) to file a beneficial ownership information (“BOI”) report with the NY Department of State (“NY DOS”). Each NY Reporting Company will be required to disclose on its BOI report identifying information pertaining to each individual who directly or indirectly exercises substantial control or owns or controls 25 percent or more of the ownership interests of a NY Reporting Company (each, a “Beneficial Owner”) and the individuals involved in the NY Reporting Company’s formation or registration to do business in New York (each, an “Applicant”). Information reported to NY DOS will be maintained in a private database not accessible to the public. The NYLTA goes into effect on Jan. 1, 2026 and requires the NY DOS to promulgate regulations implementing the legislation.
Alerts
The US Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) have overhauled Form PF and private fund managers have until March 12, 2025, to begin reporting on the new Form. The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1]