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Capital Markets

  • June 16, 2014

    FINRA Fines Merrill Lynch $8M, Orders $24M In Restitution

    The Financial Industry Regulatory Authority announced Monday that it has fined Merrill Lynch Pierce Fenner & Smith Inc. $8 million and ordered it to pay $24.4 million in restitution for failing to waive mutual fund sales charges for certain eligible charities and retirement accounts.

  • June 16, 2014

    Female Powerbrokers Q&A: Nexsen Pruet's Marguerite Willis

    Asked to get coffee? Check. Mistaken for a court reporter or a secretary? You bet. Grabbed and kissed by a client? Yes, on several occasions. Propositioned by a partner? More than once. Passed over for a plumb legal assignment, which was instead given to a male colleague? Never, ever, without a spitfire of a fight, says Marguerite Willis, co-leader of Nexsen Pruet LLC's antitrust and unfair competition practice.

  • June 16, 2014

    Female Powerbrokers Q&A: Steptoe & Johnson's Flanery

    People sometimes ask me, “How did you manage to succeed in your career?” My response is always the same, “I just have a lot of friends,” says Sharon Flanery, chairwoman of Steptoe & Johnson PLLC's energy and natural resources department.

  • June 13, 2014

    Spain's Merlin Rides REIT Wave With $2B IPO Target

    Spanish real estate investment trust Merlin Properties SA is joining a wave of real estate offerings across the globe, targeting a €1.5 billion ($2.03 billion) initial public offering later this month.

  • June 13, 2014

    Deals Rumor Mill: Siemens, Alibaba, American Securities

    Private equity firm American Securities may roll together three auto-parts makers and take the combined company public at a valuation of $4 billion including debt, while Alibaba is drawing up more detailed regulatory filings to appease investors in advance of its U.S. initial public offering.

  • June 13, 2014

    Female Powerbrokers Q&A: Sterne Kessler's Eldora Ellison

    A number of the young, female attorneys I know are more hesitant than their male counterparts to throw out ideas at meetings or to ask for leadership positions. But some of the biggest confidence boosters come from taking chances and realizing that the world didn’t end as a result, says Eldora Ellison, co-leader of Sterne Kessler Goldstein & Fox PLLC's patent office litigation practice and a member of the firm's executive committee.

  • June 12, 2014

    SEC Commissioner Calls For Updated Broker Capital Rules

    U.S. Securities and Exchange Commissioner Kara M. Stein on Thursday called on the SEC to “revisit and enhance” its net capital requirements for broker-dealers to protect against possible failures of significant firms.

  • June 12, 2014

    UK To Jack Up Market Abuse Sanctions Amid Libor Scandal

    The head of the U.K. Treasury on Thursday announced plans to bolster penalties against financial markets abuse and start regulating a wider array of instruments, in light of the interest-rate rigging scandals that have dogged the British financial sector in recent years.

  • June 12, 2014

    British Retailer B&M Raises £1B In IPO

    Private equity-backed U.K. retailer B&M European Value Retail raised £1.08 billion ($1.8 million) in its initial public offering, where it sold 40 percent of its ordinary shares at 270 pence, the company said Thursday.

  • June 12, 2014

    Deals Rumor Mill: Siemens, Imperial Tobacco, Amaya

    Hitachi wants to join in on Mitsubishi Heavy Industries' and Siemens' planned bid for Alstom's energy business, while Imperial Tobacco is eyeing the assets Reynolds American and Lorillard might shed in a tie-up.

  • June 12, 2014

    SEC Settles With Atty Over Real Estate Offering Fraud

    The U.S. Securities and Exchange Commission said Wednesday that it had settled with an Illinois attorney who founded an investment advisory firm in suburban Chicago, imposing $115,000 in sanctions after charging him for misleading investors who bought securities in a real estate venture.

  • June 12, 2014

    First Swap Dealer Exams Expected To Probe Compliance Chiefs

    The National Futures Association plans to launch its first examinations of swap dealers and major swap participants this summer, and while regulations for these entities are still being hatched, attorneys say the inspections will target how well firms are meeting the rules so far and put pressure on those that have fallen behind.

  • June 12, 2014

    Thompson Hine Nabs Ex-Goodwin Corporate Finance Pro

    Thompson Hine LLP has deepened its commercial and public finance bench in New York by snagging an acquisitions and transactional finance, real estate investment and private equity pro from Goodwin Procter LLP, the firm said Monday.

  • June 12, 2014

    Female Powerbrokers Q&A: Gordon & Rees' Leslie Benitez

    A witness I was cross-examining came down off the witness stand swinging a knife. The federal marshal shot him. Medical personnel carried the bleeding man out of the federal courtroom, and we resumed the hearing. I got some “street cred” for that one, says Leslie Benitez, co-managing partner of Gordon & Rees LLP's Austin, Texas, office.

  • June 12, 2014

    Female Powerbrokers Q&A: Bryan Cave's Chris Cesare

    Senior management typically has a solid understanding of flextime — it’s the lawyers who are working side-by-side with women who seem to either be reluctant to make the arrangement work or have misconceptions about flextime and the level of commitment it entails, says Christine Cesare, leader of Bryan Cave LLP's litigation section and a member of the firm's management committee.

  • June 11, 2014

    SAC's Steinberg Hit With SEC Administrative Proceeding

    The U.S. Securities and Exchange Commission on Wednesday launched an administrative proceeding against former SAC Capital Advisors LP manager Michael Steinberg, several weeks after Steinberg was sentenced to 42 months in prison for insider trading.

  • June 11, 2014

    SEC Gets Earful On Target-Date Fund Risk Disclosures

    The U.S. Securities and Exchange Commission should not add a potentially confusing risk disclosure to a long-delayed update of marketing rules for target-date funds, a type of mutual fund popular with retirement savers, industry officials told the agency this week.

  • June 11, 2014

    Deals Rumor Mill: Siemens, Etihad, IBM

    Siemens is joining forces with Mitsubishi Heavy Industries to consider a joint bid for Alstom's energy business, while Etihad is reportedly ready to invest $1.7 billion in Alitalia.

  • June 11, 2014

    GoPro Looks To Raise Up To $427M In IPO

    Venture-backed action camera maker GoPro Inc. wants to raise up to $427.2 million in its initial public offering, valuing the company at up to $3 billion, the company said Wednesday in a filing with the U.S. Securities and Exchange Commission.

  • June 11, 2014

    Alibaba Unveils US Marketplace, Chinese Mobile Co. Deal

    Deal-hungry Chinese e-commerce giant Alibaba Group Holdings Ltd., which is planning a record-shattering U.S. public float, is now attempting to crack into the U.S. online retail market while also expanding its mobile capabilities at home to reach even more Internet shoppers.