Expert Analysis

• What Associates Need To Know Before Switching Law Firms

  Excerpt from Practical Guidance

  

  The days of staying at the same firm for the duration of one's career are mostly a thing of the past as lateral moves by lawyers are commonplace, but there are several obstacles that associates should consider before making a move, say attorneys at HWG.

• Amid Recent Wins, SEC Crypto Authority Is Strong — For Now

  

  With a win against LBRY, an upcoming decision in litigation with Ripple Labs and a newly filed case against Bittrex, it's clear the U.S. Securities and Exchange Commission is utilizing the Howey test to go after the crypto industry, but Congress may place regulatory authority in the hands of a body other than the SEC, say Samuel Licker and Liza Kirillova at Michelman & Robinson.

• A Case For Sharing Mediation Statements With Counterparties

  

  In light of a potential growing mediation trend of only submitting statements to the mediator, litigants should think critically about the pros and cons of exchanging statements with opposing parties as it could boost the chances of reaching a settlement, says Arthur Eidelhoch at Eidelhoch Mediation.

• Tackling Long-Tail Legacy Liability Risk: A Defendant's Toolkit

  

  Johnson & Johnson was recently rebuffed in its efforts to employ the "Texas Two-Step," which is likely to affect this increasingly popular method to isolate and spin off large asbestos and talc liabilities, but companies have multiple options to reduce long-tail legacy liability risk, says Stephen Hoke at Hoke LLC.

• Colo. Bankruptcy Ruling Clarifies Debt Collection Rules

  

  The Colorado Supreme Court’s recent ruling in U.S. Bank v. Silvernagel provides necessary clarification on the state's debt collection statute of limitations commencement rules and gives lenders breathing room to pursue foreclosure after their borrowers receive a bankruptcy discharge, say Erin Edwards and Justin Balser at Troutman Pepper.

• Preparing For Legal Scrutiny Of Data Retention Policies

  

  Two recent cases involving Google and Meta should serve as a call to action for companies to ensure their data retention policies are updated and properly implemented to the degree of being able to withstand judicial scrutiny, especially as more data is generated by emerging technologies, say Jack Kallus and Labeed Choudhry at Kaufman Dolowich.

• How Companies Should Prepare For Debt Ceiling Impasse

  

  Given the uncertainty about whether the U.S. government could hit the debt ceiling and how markets would react, companies should take some steps now, including discussing contingency plans with boards of directors, both to address future market dislocations and an actual default, say attorneys at Cleary.

• FTX Proceedings Highlight D&O Issues Amid Bankruptcy

  

  A Delaware bankruptcy judge’s recent refusal of Samuel Bankman-Fried's request to access FTX's directors and officers coverage serves as a reminder of the interplay of bankruptcy law and D&O insurance policies, and some best practices for policyholders when pursuing D&O coverage during bankruptcy, say Geoffrey Fehling and Justin Paget at Hunton.

• Echoes Of '80s Thrift Crisis Are Present In Today's Bank Woes

  

  The current distress in the banking industry bears an uncanny resemblance to the thrift industry crisis of the 1980s, and while that collapse was a worst-case scenario, it provides lessons for understanding the fundamental economic forces at work today, says Alan Frankel at Coherent Economics.

• Opinion

  Attorneys Should Have An Ethical Duty To Advance DEI

  

  National and state bar associations are encouraging attorneys to apply diversity, equity and inclusion practices in the legal profession and beyond, and these associations should take it one step further by formally recognizing ethical duties for attorneys to promote DEI, which could better the legal profession and society, says Elena Mitchell at Moore & Van Allen.

• SVB Collapse Reinvigorates Bank Accounting Debate

  

  Silicon Valley Bank's sudden collapse revives questions over whether fair value or amortized cost accounting is the most appropriate for banks' financial reporting — a controversy that's crucial for understanding what information could have helped market participants better understand SVB's financial condition, say consultants at Analysis Group.

• Data-Driven Insights Are Key To Attracting Today's Clients

  

  As law firm growth slows and competition for clients increases, modern firms must rely on robust data analytics to develop the sector-based expertise and industry insights that clients increasingly prioritize in relationships with counsel, says Lavinia Calvert at Intapp.

• Planning For A Potential Dodd-Frank Revamp Post-SVB

  Excerpt from Practical Guidance

  

  An overhaul of the previous rollback of Dodd-Frank may occur in the near future, meaning banks that could be bumped up to a more restrictive category under the act's enhanced prudential standards should prepare for more frequent supervisory stress tests and stringent liquidity requirements, says Eric Yoon at K&L Gates.

• Ghosting In BigLaw: Why Better Feedback Habits Are Needed

  

  Not giving assignments or constructive criticism to junior associates can significantly affect their performance and hours, potentially leading them to leave the firm, but partners can prevent this by asking the right questions and creating a culture of feedback, says Rachel Patterson at Orrick.

• Tips For Negotiating With A Swap Dealer In Distress

  

  The rights of a party to terminate a qualified financial contract with a collapsing bank can be complicated, but ensuring possession of an executed guarantee and having relationships with more than one swap dealer can absorb some of the economic and operational fallout of dealing with a swap counterparty in distress, says Elanit Snow at Proskauer.