Capital Markets

  • December 15, 2017

    Trustees Seek Help In Splitting $4.5B JPMorgan RMBS Deal

    Units of Wells Fargo and other banks went back to New York state court Friday to ask for guidance on how they, as trustees for a slew of residential mortgage-backed securities trusts, should distribute the $4.5 billion they expect to receive soon from a settlement between JPMorgan and a group of investors in the trusts.

  • December 15, 2017

    EU Mulling Crackdown On Retail Sales Of Risky Investments

    The European Union’s financial regulator on Friday said it is considering prohibiting the sale to retail investors of risky financial products known as binary options and placing restrictions on sales of another product called rolling spot forex contracts.

  • December 15, 2017

    Fed Vice Chair Recuses Himself From Wells Fargo Matters

    The Federal Reserve said Friday that recently appointed vice chair for supervision Randal Quarles would recuse himself from matters involving Wells Fargo & Co., citing relationships between the bank and his extended family and the desire to avoid the appearance of a conflict.

  • December 15, 2017

    Global Watchdogs To Test Incentives For OTC Central Clearing

    Global financial regulators said Friday they will review the effects of incentives for financial institutions to centrally clear over-the-counter derivatives trades following the implementation of capital rules for the sector.

  • December 15, 2017

    Deals Rumor Mill: Platinum Equity, Toshiba, Aston Martin

    Platinum Equity could pay nearly $4 billion for Husky Injection Molding Systems, Chinese regulators are investigating the multibillion-dollar sale of Toshiba Memory Corp. and British sports car maker Aston Martin is gearing up either for a public listing or a sale.

  • December 15, 2017

    Funds’ Swaps Suit Against Vereit, Schorsch Largely Survives

    Investment funds that sued Vereit Inc., its former CEO Nicholas Schorsch and others over tens of millions of dollars in losses allegedly caused by the defendants’ fraud fended off dismissal for most of their suit Thursday, with a Manhattan federal judge finding the case had legs.

  • December 15, 2017

    Final GOP Tax Bill Settles On 21% Corporate Rate

    Republicans unveiled the final version of their tax cut bill on Friday that would impose a 21 percent flat rate on corporations, set the maximum individual tax rate at 37 percent and largely adopt the Senate’s proposal for pass-through businesses.

  • December 15, 2017

    Chinese Lender Tops 2 Year-End IPOs Set To Raise $220M

    At least two companies, including a Chinese online microlender and a life insurance company, are set to price initial public offerings projected to raise about $220 million combined during the week of Dec. 18, among the last few IPOs before the year-end holidays.

  • December 15, 2017

    UK Examines Further Initial Coin Offering Regulation

    Britain’s Financial Conduct Authority said Friday it will consider whether to impose further regulation on the growing market for initial coin offerings, a new form of investing that involves issuing digital currencies or tokens to finance startups.

  • December 14, 2017

    Texas Jury Partly Clears Ex-Servergy CEO At SEC Trial

    The U.S. Securities and Exchange Commission scored a narrow trial victory this week when a Texas federal jury found a former technology executive liable for a single count of negligence but cleared him of several more serious claims lodged by the Wall Street regulator over the alleged way he promoted investments in his company, Servergy Inc.

  • December 14, 2017

    SEC Gets Extension Of Asset Freeze For Digital Coin Offerer

    A New York federal judge on Thursday signed off on the U.S. Securities and Exchange Commission’s bid to extend an asset freeze against the initial coin offering business allegedly involved in what the agency has claimed was a $15 million scam run by a Quebecois couple.

  • December 14, 2017

    McGuireWoods Grows DC Office With Ex-FINRA Exec

    McGuireWoods LLP said Wednesday that it has added a former Financial Industry Regulatory Authority senior executive to its ranks in Washington, D.C., as a partner in the firm’s commercial litigation practice.

  • December 14, 2017

    Broker, Cable Vendor Downsize IPOs Just Before Pricing

    Two companies — commercial real estate broker Newmark Group Inc. and cable vendor Casa Systems Inc. — significantly downsized their expected initial public offerings on Thursday, shortly before their scheduled pricing.

  • December 14, 2017

    Chinese Consumer Lender Slashes IPO Amid Crackdown

    A Chinese online microlender that initially filed for a $500 million U.S. initial public offering has slashed its fundraising estimate by more than three-quarters, a reduction that coincides with a regulatory crackdown by Chinese authorities on online lenders.

  • December 14, 2017

    Ex-Deutsche Traders' Libor Trial Delayed By Taint Inquiry

    A frustrated Manhattan federal judge on Thursday pushed the criminal trial of two former Deutsche Bank traders from early to mid-2018, making more time to examine whether the London Interbank Offered Rate rigging case was tainted by testimony compelled in the U.K.

  • December 14, 2017

    ESMA Clarifies EMIR Rules On Clearing, Swap Reporting

    The European Securities and Markets Authority on Thursday updated guidance for banks and central counterparties implementing its derivatives rulebook, the European Markets Infrastructure Regulation, addressing uncertainties on reporting obligations for collateral, indirect clearing and contracts with no maturity.

  • December 13, 2017

    Judge Won't Take Tilton's Taxes Off Table In $45M Bank Fight

    A New York state judge shot down efforts by investment manager Lynn Tilton and her company, Patriarch Partners, to keep certain tax and business information private in a $45 million dispute with a German lender at a hearing on Wednesday, decisions her attorneys said they would appeal.

  • December 13, 2017

    Westinghouse Gets 3-Month Extension To File Ch. 11 Plan

    Westinghouse Electric Co. on Wednesday received 90 more days of exclusive time to file a Chapter 11 reorganization plan from a New York bankruptcy court judge, who blasted the company’s unsecured creditors for trying to “throw a bomb” in what has so far been a productive restructuring case.

  • December 13, 2017

    SEC Seeks To Freeze Digital Coin Offerer's Assets

    The U.S. Securities and Exchange Commission urged a New York federal court late Tuesday to freeze the assets of an initial coin offering and two other corporate entities run by a Quebecois couple, who regulators say ripped off investors while raising $15 million.

  • December 13, 2017

    Lucia Case Best Opportunity To Rule On ALJs, Attys Say

    The U.S. Supreme Court should hear former investment adviser Ray Lucia’s case questioning whether the hiring of SEC administrative law judges violates the Constitution, with his attorneys arguing Wednesday that his case presents a “clean opportunity” to decide the matter.

Expert Analysis

  • Alternative Fees: My Experience At Bartlit Beck

    J.B. Heaton

    Bartlit Beck was a wonderful place to work for 18 years, and the lawyers there are not only excellent attorneys but also great people. That said, and stating my biases upfront, it is possible for me to look analytically at the Bartlit Beck fee model and make some observations on the pros and cons of one version of alternative fees, says J.B. Heaton, founder of investment analytics company Conjecture LLC.

  • Opinion

    Jurors Should Have An Active Voice In Trials

    Judge Amos Mazzant III

    We tell jurors how important they are to the successful implementation of our judicial system, but oftentimes we don’t treat them with the reverence they deserve. U.S. District Judge Amos Mazzant III of the Eastern District of Texas, Lisa Blue of Baron and Blue, and Robert Hirschhorn of Cathy E. Bennett & Associates advocate three jury system improvements that will give jurors an active voice and role in our civil and criminal jury trials.

  • SEC's Reversal On ALJs Could Affect Its Forum Choices

    Coates Lear

    In a sudden about-face, the U.S. Securities and Exchange Commission has ratified its administrative law judge appointments, seemingly resolving the constitutional issues surrounding its ALJs. This could mean that the SEC will resume filing litigated actions as administrative proceedings again, say attorneys with Squire Patton Boggs LLP.

  • Why Information Governance Is More Important Than Ever

    Linda Sharp

    It used to be that hiring a good law firm was the single most important thing a company could do when facing litigation. You could now make the case that an organization’s most powerful asset in prosecuting or defending a claim is its information, says Linda Sharp, associate general counsel of ZL Technologies and chair of the ACC Information Governance Committee.

  • Opinion

    BigLaw Is Behind The Automation Curve

    Michael Moradzadeh

    In its new report on the effects of automation in the workplace, McKinsey Global Institute identifies lawyers as less susceptible to the sort of automation that could put one-third of American workers out of a career by 2030. This may seem reassuring, but it doesn't mean automation won't disrupt our bottom line, says Michael Moradzadeh of Rimon PC.

  • The Future Of Bitcoin Futures

    Colin Lloyd

    Trading in bitcoin futures opened this week on the CBOE Futures Exchange, with offerings from the Chicago Mercantile Exchange and the Cantor Exchange to soon follow. In designing their contracts, the exchanges had to make decisions about contract size, tenor, and trading and settlement conventions, with some notable consequences, say Colin Lloyd and James Michael Blakemore of Cleary Gottlieb Steen & Hamilton LLP.

  • International ICOs May Not Be Safe From The SEC

    John Reed Stark.jpeg

    Simply originating an initial coin offering in a foreign jurisdiction may not be sufficient to avoid the long and global reach of the U.S. securities laws — and the current ICO dragnet of the U.S. Securities and Exchange Commission’s new cyber unit, says John Reed Stark, president of John Reed Stark Consulting LLC.

  • Series

    Judging A Book: Cooke Reviews 'Constance Baker Motley'

    Judge Marcia Cooke

    Gary Ford's new book, "Constance Baker Motley: One Woman’s Fight for Civil Rights and Equal Justice Under Law," is more than a biography of the first African-American woman to become a federal judge. It presents in vivid detail how her work altered the legal landscape of the United States, says U.S. District Judge Marcia Cooke of the Southern District of Florida.

  • Keeping Your Law Library Relevant In The Age Of Google

    Donna Terjesen

    Google’s status as a go-to research tool has transformed legal research habits, leading critics to view law libraries as cost centers. Law firms should embrace Google-style research tools and manage costs efficiently in order to position their libraries as valuable assets for years to come, says Donna Terjesen of HBR Consulting.

  • 6 Things You Need To Know About Millennial Jurors

    Zachary Martin

    Millennials are now the largest living generation and comprise one-third of jurors. While it is impossible to generalize a group so large and diverse, trial lawyers should be mindful of certain generational differences, say baby boomer Lee Hollis and millennial Zachary Martin of Lightfoot Franklin & White LLC.