Capital Markets

  • December 12, 2017

    Judge Won't Help Out Convicted Analyst's Firm On Legal Fees

    A New York federal judge has refused a request by MSD Capital LP to change the forfeiture-restitution balance in the case of a convicted insider trader who had been an analyst there, saying Monday he didn’t have jurisdiction since there’s now an appeal, and it wouldn’t have changed things this late in the game regardless.

  • December 12, 2017

    DLA Piper Adds Boston Partner To Transactional Practice

    DLA Piper recently announced it has expanded its corporate practice with the addition of a partner from Nutter McClennen & Fish LLP who will focus on strategic M&A, middle-market M&A, and private equity and venture capital.

  • December 12, 2017

    2nd Circ. Won't Rethink Denying Nomura, RBS Jury Trial

    The Second Circuit on Monday rejected a request by employees and units of Nomura Holdings Inc. and the Royal Bank of Scotland Group PLC to reconsider its decision to deny their demand for a jury trial in an $800 million fight with the Federal Housing Finance Agency.

  • December 12, 2017

    Onetime Fund Manager Stole $10M From Investors, Feds Say

    A sometime TV pundit who held himself out as an investment manager after regulators stripped him of his registrations and the state of Illinois barred him from dealing in securities was charged with defrauding investors out of $10 million, according to an indictment unsealed Monday.

  • December 12, 2017

    NY's OCC Fintech Charter Suit Dismissed As 'Speculative'

    A challenge to a proposed federal charter for financial technology firms was dismissed on Tuesday, with a federal judge ruling that New York's top financial regulator's case was speculative, because the Office of the Comptroller of the Currency has not finalized its plans for the charter.

  • December 12, 2017

    Deals Rumor Mill: FirstCaribbean, Sabeco, Elenia Oy

    The Caribbean business of Canadian Imperial Bank of Commerce will be taken public, Vietnam Beverage has offered to buy a significant stake in Sabeco in a deal that could be worth $2.25 billion or more and Finnish power company Elenia is up for grabs.

  • December 12, 2017

    Kramer Levin, Sidley Steer VICI Properties' $100M IPO Filing

    Kramer Levin Naftalis & Frankel LLP is representing Caesars Entertainment Corp.'s real estate investment trust VICI Properties Inc. in connection with its Tuesday filing for a $100 million initial public offering, a matter Sidley Austin LLP is working on for the underwriters.

  • December 11, 2017

    Has Litigation Finance Shed Its Stigma?

    Once a taboo topic in the halls of BigLaw, litigation finance is winning over converts. And the peer pressure is building for rival law firms to join the bandwagon.

  • December 11, 2017

    Why Investors Are Taking The Leap To 3rd-Party Funding

    They often don’t know exactly what they’re buying, and there’s an ever-present chance they could come up empty in a given case. Here’s why investors are flocking to litigation finance anyway.

  • December 11, 2017

    What Your Colleagues Think Of Litigation Finance

    We asked, and you answered. Here are the results of Law360’s inaugural survey on third-party legal funding.

  • December 11, 2017

    SEC Chair Urges Main Street To Tread Cautiously With ICOs

    U.S. Securities and Exchange Commission Chairman Jay Clayton, acting in response to a surge in public awareness of cryptocurrencies and initial coin offerings, acknowledged the potential value of the innovative technologies on Monday but urged “Main Street” investors to look before they leap.

  • December 11, 2017

    Bitcoin Futures Bring Digital Currencies To Wider Market

    The launch of bitcoin futures trading will likely pave the way for broader market acceptance of cryptocurrencies as investment products, experts said Monday, volatility risks notwithstanding.

  • December 11, 2017

    SEC Sues Conn. Firm And CEO Over 'Mark-Ups,' Fees

    A Connecticut investment advisory firm and its top executive generated roughly $780,000 in undisclosed “mark-ups” and fees by sticking clients with risky securities from the firm’s proprietary brokerage account and costlier share classes of mutual funds, the U.S. Securities and Exchange Commission said in a suit filed Monday.

  • December 11, 2017

    KKR, FS Investments Team Up For $18B Biz Development Co.

    Alternative investment manager FS Investments said Monday it is teaming up with KKR & Co. LP to create an $18 billion business development company, ending a partnership with Blackstone Group LP’s credit investment platform.

  • December 11, 2017

    FDIC Says Judge Should Overlook Citibank Refusal To OK Suit

    The Federal Deposit Insurance Corp. on Friday urged a New York federal judge to let its cases against Citibank, U.S. Bank and Bank of New York Mellon on behalf of a failed Texas bank go ahead even though Citibank has refused to ratify the cases, saying it has fixed the legal issues that resulted in the suits’ dismissal without Citibank’s signature.

  • December 11, 2017

    Ameriprise, 2 Others To Pay $10M In SEC F-Squared Sanctions

    Ameriprise Financial Services Inc. and two other investment advisers have agreed to pay a combined $9.7 million to settle U.S. Securities and Exchange Commission claims stemming from the false advertisements that another company — the now-shuttered F-Squared Investments Inc. — had made to promote its top investment product.

  • December 11, 2017

    SEC Halts Food Review Co.’s $15M ICO For Not Registering

    The U.S. Securities and Exchange Commission on Monday said it had shut down a $15 million initial coin offering for a California-based online food review company because the digital tokens being sold to investors had not been registered with the commission.

  • December 11, 2017

    DOJ Says Forex Traders' Rate-Rigging Was Felt In The US

    The U.S. Department of Justice on Friday urged a New York federal court to deny a bid by three London-based foreign exchange traders to escape charges that they conspired to rig foreign exchange benchmarks, arguing that the activity had a strong enough connection to the U.S. for the case to proceed.

  • December 11, 2017

    Litvak's Appeal Argument Met With Skepticism In 2nd Circ.

    Former Jefferies Group trader Jesse Litvak seemed to face an uphill battle against his lone securities fraud conviction in the Second Circuit on Monday, with two out of three judges suggesting Litvak's lie about the price of a mortgage-backed bond supported the charge.

  • December 11, 2017

    Mizuho Picks Off Lead Plaintiff In Mt. Gox Collapse Suit

    Japanese bank Mizuho Bank Ltd. on Monday won dismissal of claims brought by one of the named plaintiffs in a proposed class action over the collapse of bitcoin exchange Mt. Gox, with an Illinois federal judge agreeing that a recent U.S. Supreme Court ruling bars him from joining the suit.

Expert Analysis

  • The Johnson Conviction And Fallout For Forex Market

    Paul Hinton

    The recent conviction of former HSBC foreign exchange executive Mark Johnson has shocked market participants and could lead to a reduction in liquidity for block trades in the foreign exchange and other over-the-counter markets, say members of The Brattle Group and AGN Advisory.

  • Navigating Whistleblower Protections Across The Atlantic

    Lynne Bernabei

    Both the Dodd-Frank Act in the U.S. and rules under the Financial Conduct Authority in the U.K. provide whistleblower protections for financial industry employees who report fraud and regulatory breaches. Whereas the specific protections in the U.S. and U.K. differ somewhat, many of the protection mechanisms are remarkably similar, say Lynne Bernabei and Kristen Sinisi of Bernabei & Kabat PLLC.

  • Top 10 Whistleblowing And Retaliation Events Of 2017

    Steven Pearlman

    The past year saw an aggressive approach to whistleblowing and retaliation actions by the plaintiffs bar and the U.S. Securities and Exchange Commission alike. Steven Pearlman and Edward Young of Proskauer Rose LLP examine the most impactful developments of 2017.

  • Compliance Failures And The Resulting Risks For Directors

    Steven Haas

    The Delaware Chancery Court's recent decision in Kandell v. Niv illustrates one of the many potential pitfalls of compliance failures. Directors serving companies in heavily regulated industries should be diligent in trying to understand the regulatory environment, even though they are not expected to be experts in the law, says Steven Haas of Hunton & Williams LLP.

  • SEC Enforcement: Past, Present And Future

    Brian Rubin

    In Dan Brown’s latest best-seller "Origin," he explores where we come from and how we will evolve. The U.S. Securities and Exchange Commission's fiscal 2017 enforcement report is no "Origin," "The Da Vinci Code" or even "Inferno," but the SEC has raised "Origin"-like questions, say Brian Rubin and Gregory Amoroso of Eversheds Sutherland.

  • The Billing Evolution: How Far Along Is Your Firm?

    Sharon Quaintance

    In a recent study, 20 out of 25 law firms surveyed have made billing process improvement a top priority for 2018. Firms can foster consistency and increase efficiency at all stages of their billing cycle by focusing on a few specific procedures, say Sharon Quaintance and Christine Indiano at HBR Consulting.

  • 10 Tips For Effective Practice Before The 5th Circ.

    Justin Woodard

    The Fifth Circuit is among the busiest federal circuit courts in the country. What can you do to increase your chances of reaching oral argument? And if given the opportunity, how can you present a persuasive argument? Former Fifth Circuit clerk Justin Woodard, an associate at Jones Walker LLP, shares some advice.

  • Series

    Judging A Book: Saris Reviews 'Locking Up Our Own'

    Judge Patti Saris

    Having just completed a six-year term as chair of the U.S. Sentencing Commission, I read Yale Law School professor James Forman's new book, "Locking Up Our Own: Crime and Punishment in Black America," with particular interest, says Judge Patti Saris, chief judge for the U.S. District Court for the District of Massachusetts.

  • It’s OK, Whistleblowers Will Always Have SOX

    Scott Oswald

    Based on U.S. Supreme Court arguments Tuesday in Digital Realty Trust v. Somers, corporate whistleblowers are headed back to a world in which their main protection against retaliation will be the stalwart Sarbanes-Oxley Act, says Scott Oswald of The Employment Law Group PC.

  • Opinion

    Whistleblower Protections Are At Risk At The High Court

    Stephen Kohn

    The U.S. Supreme Court is poised to hear argument in Digital Realty Trust v. Somers, but if it decides to strip the protections of employees who report violations of law to in-house managers it will constitute the greatest setback for voluntary compliance programs since they were established in the mid-1980s, says Stephen Kohn of Kohn Kohn & Colapinto LLP.