Capital Markets

  • March 7, 2018

    CFTC's Cryptocurrency Authority Backed By Fraud Suit Judge

    A New York federal judge ruled Tuesday that cryptocurrencies can be regulated by the Commodity Futures Trading Commission as commodities, rejecting a fraud defendant's argument that he and his cryptocurrency trading advice company are outside the commodities watchdog’s jurisdiction.

  • March 7, 2018

    Funds Fight To Keep Odebrecht Bond Fraud Suit Alive

    Investment firm DoubleLine Capital LP and its funds have asked a Manhattan federal judge to reject an effort by scandal-wracked Brazilian builder Odebrecht to dismiss their fraud suit, saying they lost millions when Odebrecht’s bribery-centric business strategy came to light.

  • March 7, 2018

    Sirius Capital Partners Spins Off $952M Portfolio To Cibus

    A pair of Sirius Capital Partners funds has spun off a portfolio of 123 grocery-anchored properties in Finland, selling the assets to newly formed Cibus Nordic Real Estate AB for €767 million ($952 million) as the new company prepares to go public later this week, Cibus said Wednesday.

  • March 7, 2018

    Cryptocurrency Real Estate Biz Files $75M ICO With SEC

    Real estate-focused cryptocurrency startup The Praetorian Group filed an anticipated $75 million initial coin offering with the U.S. Securities and Exchange Commission on Tuesday, marking what is believed to be the first company to publicly register its ICO with the agency.

  • March 7, 2018

    Ex-Mercuria Worker Not Entitled To $33M Payout, Judge Says

    A New York federal judge has dismissed a suit by a former employee of global energy company Mercuria Energy Trading seeking a $32.6 million payment for shares he owned in a Mercuria affiliate, saying the employee’s payout was tied to a merger that never happened.

  • March 7, 2018

    NJ Cites Cryptocurrency Co. For Unregistered Securities

    New Jersey has ordered an electronic cash investment vehicle to stop offering allegedly unregistered securities in the state as part of its efforts to crack down on cryptocurrency fraud, the attorney general announced Wednesday.

  • March 7, 2018

    Alston & Bird Adds 3 Finance Partners From Andrews Kurth

    Alston & Bird announced Wednesday that it has expanded its finance capabilities in its New York office, adding three partners and two associates from Andrews Kurth Kenyon LLP with experience helping clients buy and sell loans and securities of distressed or bankrupt companies.

  • March 7, 2018

    SEC Says Couple Can’t Escape Claims Of $22.5M EB-5 Fraud

    The U.S. Securities and Exchange Commission urged a California federal court Tuesday not to dismiss its suit against a husband and wife team it claims fraudulently raised $22.5 million from Chinese investors looking to obtain green cards through the federal EB-5 visa program.

  • March 7, 2018

    Mayer Brown Atty Out After 10 Days Amid Allegations At MoFo

    Mayer Brown LLP confirmed on Wednesday that it has parted ways with a New York-based capital markets partner — 10 days after announcing it had hired him — following allegations that the partner engaged in “inappropriate conduct” at his previous firm.

  • March 7, 2018

    App-Based Atom Bank Nabs £149M More In Funding

    App-based banking startup Atom Bank PLC said Wednesday it has raised £149 million ($206.8 million) to further invest in its technology and business capabilities, with most funding coming from cornerstone investors Toscafund Asset Management LLP and Banco Bilbao Vizcaya Argentaria SA.

  • March 7, 2018

    Wells Fargo Sues Fund For $16M Over Missed Margin Calls

    Wells Fargo Securities LLC leveled a lawsuit at LJM Investment Fund LP in New York federal court on Tuesday, seeking to recover more than $16 million the financial giant says it doled out to cover the commodity pool’s losses in February’s stock market fall.

  • March 7, 2018

    Coinbase Keeps Unclaimed Bitcoin, Calif. Residents Say

    Cryptocurrency exchange Coinbase Inc. has been slapped with a proposed class action in California federal court accusing the company of illegally keeping bitcoins people were sent simply because an email notification had expired. 

  • March 6, 2018

    Puerto Rico Regulator Wants Power In PREPA Restructuring

    Looking to draw jurisdictional boundaries, Puerto Rico's energy regulator has filed an adversary complaint against the island’s electric utility and the federal board shepherding the territory through its historic debt crisis, saying it must authorize any restructuring changes that impact its areas of oversight.

  • March 6, 2018

    Profs Dispute Evidence Of Bias By SEC In-House Judges

    An amicus brief filed by a pair of professors in a U.S. Supreme Court case that will decide whether SEC administrative law judges are constitutional says there is no hard evidence that the judges are biased toward rulings that favor the agency, but other legal experts say the question of bias is beside the point.

  • March 6, 2018

    SEC Considers NYSE Proposal To Ease Blank Check Rules

    The U.S. Securities and Exchange Commission will launch deliberations on a New York Stock Exchange proposal to ease listing rules on blank check companies, which make up a growing subset of the initial public offerings market, according to an order Monday.

  • March 6, 2018

    Investors Fight Banks' Bid To Ax Stock-Loan Antitrust Suit

    A group of investors behind an antitrust suit accusing Goldman Sachs, Morgan Stanley and several other big banks of conspiring to preserve their dominance over the stock loan market told a New York federal court on Friday that these prime broker powerhouses are “dead wrong” to call some of the case’s allegations recycled.

  • March 6, 2018

    NYSE To Pay $14M To Settle SEC Claims Of Rule Violations

    The U.S. Securities and Exchange Commission said Tuesday that the New York Stock Exchange LLC and two affiliated exchanges have agreed to pay a $14 million civil penalty to settle claims of regulatory breakdowns, which stem in part from episodes in 2015 where the exchanges ran into trouble with technical glitches and market volatility.

  • March 6, 2018

    Pension Fund Hits Ocwen With ERISA Suit Over RMBS

    Ocwen Financial Corp. ignored its fiduciary duties under the Employee Retirement Income Security Act while servicing residential mortgage-backed securities and unjustly profited from them during the financial crisis, a benefit plan alleged in New York federal court Monday.

  • March 6, 2018

    RBS To Pay New York $500M For RMBS Misdeeds

    The Royal Bank of Scotland PLC has agreed to pay $500 million to settle claims that it bilked investors in residential mortgage backed securities during the run-up to the financial crisis of 2007 and 2008, the New York attorney general said Tuesday.

  • March 6, 2018

    Cohn Leaves Top White House Economic Post As Tariffs Loom

    President Donald Trump’s chief economic adviser, Gary Cohn, stepped down from his role Tuesday after reportedly opposing the president’s proposed tariffs on steel and aluminum imports.

Expert Analysis

  • Lessons From President Trump's Failed Judicial Nominations

    Arun Rao

    On Tuesday, the Trump administration announced 12 new judicial nominations. We will soon discover whether these candidates learned from the mistakes of the three nominees forced to withdraw in December after bipartisan concerns arose over their qualifications, says Arun Rao, executive VP of Investigative Group International.

  • Series

    My Supreme Court Debut: Just Me And My Flash Cards

    Matthew McGill

    I had not expected to be in the U.S. Supreme Court on March 22, 2016. To me, our opponent's petition seemed quite like a long shot. But clearly I had underestimated the appeal of their argument, says Matthew McGill of Gibson Dunn & Crutcher LLP.

  • The Challenges Of Marijuana Banking Just Got Bigger

    Elizabeth Khalil

    A series of issuances from the U.S. Department of Justice during the Obama era provided the basis for the only federal guidance on banking services for the marijuana sector. With Attorney General Jeff Sessions' recent rescission of these DOJ memos, the future of the banking guidance is now unclear, says Elizabeth Khalil of Dykema Gossett PLLC.

  • How To Control Data As Technology Complicates E-Discovery

    Peter Ostrega

    While technology is making certain aspects of e-discovery faster and easier, it is also creating new challenges as quickly as we can provide solutions. The good news is that there are concrete steps businesses can take to address those challenges, says Peter Ostrega of Consilio LLC.

  • The Rise And Fall Of Statistical Sampling In RMBS Cases

    Amanda Lawrence

    In the early days of the residential mortgage-backed securities and repurchase litigation that followed the 2008 crisis, plaintiffs’ strategy of proving their allegations through statistical sampling was highly successful. However, in recent years, a new trend has emerged, say attorneys with Buckley Sandler LLP.

  • The Challenges Of Bitcoin Financing

    Matthew Frankle

    As the price of bitcoin continues to rise, so does the demand for financing secured by bitcoin. Lenders need to ensure they are complying with existing law — law that did not develop with bitcoin in mind, including the Commodity Exchange Act, say Matthew Frankle and Nora Wong of Greenberg Traurig LLP.

  • America's Shifting Views On Marijuana Post-Cole Memo

    Jonathan Robbins

    Although Attorney General Jeff Sessions' rescission of the Cole memo does not change federal law, negative response to the rescission across the cannabis sector and political landscape was strong, swift and bipartisan, which may lead to congressional action in the future, say Jonathan Robbins and Joshua Mandell of Akerman LLP.

  • NJ’s Evolving Health Care Arena: Trends To Watch In 2018

    John Fanburg

    New Jersey is one of the most competitive and heavily regulated states in terms of health care, making it a good barometer for how the industry is evolving nationally. As physicians and medical groups deal with issues like flat reimbursement from insurance providers and the rapidly rising costs of operating a medical practice, the ways in which doctors deliver health care will continue to change in 2018, says John Fanburg of Brach Eichler LLC.

  • 6 E-Discovery Predictions For 2018

    Erich Potter

    Erich Potter, discovery counsel with Oles Morrison Rinker & Baker LLP, discusses six ways e-discovery will continue to excite and confound in 2018.

  • Reg A-Plus Is Perfect For Initial Coin Offerings

    Aaron Kaplan

    As initial coin offerings are a means to effectuate crowdfunded capital formation, issuers will likely try to meet one of the three securities registration exemptions in the Jobs Act. Aaron Kaplan of Gusrae Kaplan Nusbaum PLLC explains why the exemption under Regulation A-Plus is the most suitable.