Capital Markets

  • January 20, 2017

    SEC Unlikely To Escape Partisan Chokehold Under Trump

    The U.S. Securities and Exchange Commission became an increasingly political focal point in the eight years of Barack Obama's presidency, buffeted by partisan forces both inside and out that experts say have damaged the SEC’s credibility and are unlikely to abate during the Trump administration.

  • January 20, 2017

    CFTC Names Giancarlo As Acting Chairman

    The U.S. Commodities Futures Trading Commission on Friday named commissioner J. Christopher Giancarlo as acting chairman of the agency, who is taking the reins from the outgoing chairman, Timothy Massad.

  • January 20, 2017

    Morgan Stanley Aims To Trim Calif.’s Great Recession Suit

    Morgan Stanley asked a San Francisco judge Friday to trim California’s suit over hits state public retirement funds took during the Great Recession, arguing that the state’s attorney general brought blanket fraud and securities claims that didn’t apply to all defendants or all mortgage-backed securities named in the complaint.

  • January 20, 2017

    Mnuchin’s Testimony Leaves Many Regulatory Questions

    While there had been hopes Treasury Secretary nominee Steven Mnuchin’s confirmation hearings Thursday would provide more clarity on the Trump administration’s plans for bank regulations, Mnuchin’s responses on a broad range of topics left lawmakers with even more questions to be answered.

  • January 20, 2017

    8 Firms To Steer IPOs Totaling $1.9B As 2017 Gets Cranking

    Eight firms will guide initial public offerings aiming to raise about $1.9 billion the week of Jan. 23, representing a wide range of issuers that could jolt a sluggish IPO market, including the year's first technology "unicorn," several private equity-backed deals, an energy offering and four biotechs.

  • January 20, 2017

    Deals Rumor Mill: ING Life, Fairfax, Cushman & Wakefield

    Private equity-backed ING Life Korea hopes to raise more than $1 billion in a 2017 IPO, Fairfax Financial is in preliminary talks to sell part of its stake in India's top private general insurer and commercial real estate services brokerage Cushman & Wakefield is mulling a public listing.

  • January 20, 2017

    Societe Generale Owes $50M For Lying About $780M In RMBS

    Paris-based bank Societe Generale will pay $50 million to settle claims that it lied to investors about $780 million in residential mortgage-backed securities, the U.S. Department of Justice said Friday.

  • January 20, 2017

    Investors, Banks Trade Shots In Libor Case

    Investors this week continued to spar with the banks they accuse of manipulating the London Interbank Offered Rate over the dismissal of investor claims last year, while the court ordered another plaintiff to resubmit its complaint.

  • January 20, 2017

    PE-Backed Keane Group Raises $508M In Upsized IPO

    Advised by Schulte Roth & Zabel LLP, private-equity-backed energy company Keane Group Inc. on Friday completed the first initial public offering of 2017, with an upsized $508.4 million offering that saw the sale of 26.8 million shares at $19 apiece.

  • January 20, 2017

    SEC Claims Assisted-Living Owners Mixed Bond Accounts

    The Securities and Exchange Commission on Friday told a New Jersey federal court that a pair of assisted living facility operators misappropriated millions of dollars in investor funds to prop up failing facilities for their own benefit, saying one partner went so far as to say he had picked out his prison clothes.

  • January 20, 2017

    Morgan Stanley, UBS Must Provide ISDAfix Gov't Probe Docs

    A New York federal judge on Friday ordered BNP Paribas, ICAP, Morgan Stanley and UBS to hand over documents they provided to government investigators regarding fixing the ISDAfix benchmark rate, which is used to set terms for swaps transactions, to a pension fund bringing a potential class action over the alleged manipulation.

  • January 20, 2017 Trial Date Slips After 'Disappointing' Gov't Tactic

    Prosecutors’ move to file new charges against New Jersey pastor Trevon Gross and operator Yuri Lebedev just over six weeks before their trial date was “disappointing” and “problematic,” a New York federal judge said Friday, but the defendants suspected of facilitating a bitcoin-fueled fraud won little relief as a result.

  • January 20, 2017

    Hong Kong Warns Against Rule-Breaking In Growth Market

    Hong Kong’s securities watchdog and its stock exchange operator issued a joint statement on Friday, taking aim at activity they say is causing volatility in a market made for investment opportunities in higher-risk companies.

  • January 20, 2017

    FinTech Blank Check Co. Prices $100M IPO

    Blank check company FinTech Acquisition Corp. II priced its initial public offering on Friday with guidance from Ledgewood PC, pulling in $153 million it will look to use to acquire businesses operating in the financial technology industry.

  • January 20, 2017

    SEC Inks Cooperation Deal With Hong Kong Regulators

    The U.S. Securities and Exchange Commission said Thursday that it has signed a new cooperation agreement with regulators in Hong Kong, expanding the scope of activity about which the watchdogs will share information.

  • January 19, 2017

    Rolling Back Regulation In The Age Of Trump

    The incoming president’s plans to rein in the power of federal agencies will lead to uncertainty for lawyers and their clients as pending investigations and rulemaking are stopped in their tracks.

  • January 19, 2017

    Most Influential Judges On Trump’s Supreme Court Short List

    A new look at the potential U.S. Supreme Court nominees’ rulings reveals a ranking of judicial influence with some surprises at the top — and at the bottom.

  • January 19, 2017

    The Lawyer Who Will Shape Trump’s Presidency

    Jones Day’s Donald McGahn is stepping into the role of White House counsel, a powerful but little-understood position that has a strong history of impacting the president’s authority.

  • January 19, 2017

    In The Polarized Era Of Trump, BigLaw Searches For Balance

    The alignment of law firms with or against the new administration in legal battles to come could open rifts among attorneys and clients. But the publicity earned for taking on a potentially unpopular case could ultimately be worth any public fallout.

  • January 19, 2017

    Bear Fund Liquidators Again Target S&P, Others Over RMBS

    Liquidators for two Bear Stearns & Co. Inc. feeder funds on Thursday asked a New York state appeals court to revive their fraud suit accusing the big three credit rating agencies of lying about the creditworthiness of debt obligations backed by subprime mortgages, saying it was wrongly dismissed on timeliness and standing grounds.

Expert Analysis

  • How Litigation Funding Is Bringing Champerty Back To Life

    John H. Beisner

    While some courts have declined to apply the common-law doctrine of champerty to invalidate third-party litigation funding agreements, two recent rulings by appellate courts in New York and Pennsylvania have brought renewed attention to champerty principles, casting doubts on the legality of certain forms of third-party litigation funding, say John Beisner and Jordan Schwartz of Skadden Arps Slate Meagher & Flom LLP.

  • Attracting And Retaining The Millennial Lawyer

    Christopher Imperiale

    Instead of trying to change the new workforce to follow a law firm's existing processes and procedures, perhaps it's time for firms to start changing their processes and procedures to better accommodate the mentality of this next generation of lawyers, says Christopher Imperiale, a law firm adviser with Berdon LLP.

  • Expect Continued Aggressive Enforcement Under Bharara

    Nicholas Lewis

    The beginning of 2017 brings with it significant changes to the government as a whole and the U.S. Department of Justice in particular, but one constant in this time of change is the U.S. Attorney’s Office for the Southern District of New York. Recent developments reflect a seal of approval for that office’s aggressive enforcement approach under Preet Bharara, says Nicholas Lewis of McGuireWoods LLP.

  • It’s Time To Change The Law Firm Business Model

    Lucia Chiocchio

    Every year, statistics reveal very little change in the number of women and minorities in the ranks of partnership. So how do law firms change this painfully slow rate of progress? It takes more than adding a diversity policy or a women’s leadership program to the current law firm business model, says Lucia Chiocchio, co-chair of Cuddy & Feder LLP's telecommunications and land use, zoning & development groups.

  • Amended Rule 37(e): 1 Year Later

    Samantha Southall

    After a full year in effect, the amended Federal Rule of Civil Procedure 37(e) has been tested in a variety of district courts. A sampling of these decisions reveals that courts seem to be adhering closely to the amended rule and ordering adverse inference instructions only where there was intent to deprive another party of access to relevant information, say Carrie Amezcua and Samantha Southall of Buchanan Ingersoll & Rooney PC.

  • Avoiding The Hidden Costs Of Bargain-Priced E-Discovery

    Michael Cousino

    Many organizations are interested in finding electronic discovery partners who offer tantalizingly low prices for electronic discovery services. However, unforeseen gaps, lax security practices, ignorance of global practices and delayed deliverables can all add up to a surprisingly large final cost, says Michael Cousino of Epiq Systems.

  • FINRA’s Most Significant 2016 Enforcement Actions

    Jon Eisenberg

    The Financial Industry Regulatory Authority brings about 1,500 enforcement actions a year, but often lost in the volume of actions are the ones that merit particular attention. Jon Eisenberg and Michael Dyson of K&L Gates LLP review the 2016 actions that resulted in fines of $1 million or more.

  • Saving Lawyers 1 Breath At A Time: Mindfulness In The Law

    Jennifer Gibbs

    As critical as lawyers are to society, they are reported to be the most frequently depressed occupational group in the United States. In response to the inherently stressful nature of the practice of law, more and more lawyers are turning to an ancient contemplative practice called “mindfulness,” says Jennifer Gibbs of Zelle LLP.

  • Understanding How Blockchain Could Impact Legal Industry

    R. Douglas Vaughn

    Blockchain is essentially a computerized public ledger that can apply to almost anything that a person might save into a database or spreadsheet. This versatile technology may enhance the legal industry by providing an improved record keeping system, setting up "smart contracts" and tracking intellectual property and land records, say R. Douglas Vaughn and Anna Outzen of Deutsch Kerrigan LLP.

  • Opinion

    The Incoming SEC Chairman As I Know Him

    Kevin J. Lavin

    The natural tendency of Democrats will be to criticize President-elect Donald Trump's nominee for U.S. Securities and Exchange Commission chairman as a “Wall Street insider” who won’t be sensitive to regular working-class Americans. I’m a registered Democrat and would enjoy being able to criticize Trump’s selection, but I’ve known Jay Clayton since 1995 and he is no ideologue, says Kevin Lavin of Arnold & Porter Kaye Scholer LLP.