Capital Markets

  • July 25, 2017

    Deals Rumor Mill: SoftBank, Toshiba, HNA Group

    SoftBank is looking to make a multibillion-dollar investment in Uber, Toshiba's board will meet to discuss the sale of Toshiba's memory business, and HNA Group has tapped an investment bank for the U.S. IPO of a Beijing-based IT outsourcing firm it owns.

  • July 25, 2017

    Libor Trader Waives Conflict To Keep Paul Hastings Team

    A former Deutsche Bank AG trader accused of rigging the London Interbank Offered Rate told a New York federal judge on Tuesday that he wants to stick with his counsel from Paul Hastings LLP even though there may be a conflict that might limit his attorney’s ability to defend him.

  • July 25, 2017

    Banks Say Top Court Ruling Cuts Against SIBOR-Rigging Suit

    A group of foreign banks accused of rigging the Singapore Interbank Offered Rate and another financial benchmark told a New York federal judge on Monday that a recent U.S. Supreme Court decision on jurisdiction strengthens their argument for dismissal, contrary to what plaintiffs have said.

  • July 25, 2017

    HSBC Wins Unredacted Docs In MBS Dispute

    A federal magistrate judge on Monday ordered an investment fund suing HSBC Holdings PLC over failed mortgage-backed securities to turn over more than 1,000 documents without redacting personal information contained in those messages, despite the fund’s concerns over potential privacy violations.

  • July 25, 2017

    Clearing Firm Pays FINRA Fine Over Supervisory Failures

    Electronic Transaction Clearing Inc. has agreed to pay $250,000 to end the Financial Industry Regulatory Authority's allegations that the high-frequency clearing firm failed to implement anti-money laundering policies and violated multiple customer protection and supervisory rules, according to settlement documents filed Monday.

  • July 24, 2017

    Barclays Forex Rigging Settlement Nets $8.75M In Atty Fees

    Counsel for Axiom Investment Advisors LLC will receive $8.75 million from a $50 million settlement with Barclays Bank LLC in a New York federal court action filed over purported misuse of a foreign exchange trading system to boost bank profits. 

  • July 24, 2017

    LedgerX First To Get CFTC Approval For BitCoin Trading

    New York-based investment startup LedgerX announced Monday that it is the first to get approval to operate a federally regulated exchange and clearinghouse for derivatives contracts that trade in digital currencies like bitcoin.

  • July 24, 2017

    Carfax Owner's Controllers Kept In 'Blowout' Merger Suit

    The family that controls automotive consumer information firm, R.L. Polk & Co. Inc., will remain as defendants in an investor suit challenging the disparate consideration paid to minority shareholders in a self-tender offer in 2011 and a later $1.4. Billion merger after a Delaware judge said the family was acting as a control bloc.

  • July 24, 2017

    SEC Says Broker-Dealer Can't Ditch Suit Over 'Layering'

    The U.S. Securities and Exchange Commission urged a New York federal court Friday not to let broker-dealer Lek Securities Corp. and its CEO off the hook from the agency’s suit that alleges the company aided a Ukrainian former client’s efforts to influence securities prices using techniques like the “layering” of phony trades to mimic market forces.

  • July 24, 2017

    Wells Fargo Fights Investor's Class Cert. Bid In RMBS Suit

    Wells Fargo Bank NA has slammed a bid for class certification from an investor suing the bank over its alleged failures as trustee of two residential mortgage-backed securities trusts, telling a New York federal court on Monday that the proposed class is unworkable.

  • July 24, 2017

    Puerto Rico Bondholders Seek Seat On Creditor Committee

    A group of Puerto Rico bondholders on Friday asked a federal court to allow them on the unsecured creditor’s committee in the commonwealth's bankruptcy, saying they were unfairly excluded.

  • July 24, 2017

    Ex-Barclays Trader Banned From Banking For Unsafe Actions

    The Federal Reserve Board of Governors on Monday banned a former Barclays Bank PLC foreign exchange trader from the banking industry for possible coordination with other investors and the release of confidential information about Barclays and its clients.

  • July 24, 2017

    SEC Orders Exchanges To Rethink Audit Trail Fees

    The U.S. Securities and Exchange Commission on Friday vacated a plan to allocate the fees charged to pay for the Consolidated Audit Trail after industry participants complained the fees would burden smaller exchanges and broker-dealers, saying it would need to formally review any refiled plan.

  • July 24, 2017

    Deals Rumor Mill: Spotify, UPL, Nestle

    Spotify is nearing a royalty deal that's needed before it seeks a U.S. IPO, India's UPL may lob a competing bid for Platform Specialty Products' agrochemical business, and private equity-backed Ferrara Candy is seen as a potential suitor for Nestle's U.S. candy business.

  • July 24, 2017

    Fed Eases Volcker’s Treatment Of ‘Seed’ Investments

    The Federal Reserve on Monday made it simpler for banks to get more time to provide so-called seed funding in investment funds under the Volcker Rule, the second tweak to the Dodd-Frank Act’s ban on proprietary trading announced in less than a week.

  • July 24, 2017

    Pigments Maker Venator Sets Terms For $447M Spinoff IPO

    Pigments manufacturer Venator Materials PLC on Monday said it expects to receive approximately $477 million as a midrange yield for a total of 22.7 million ordinary shares in its initial public offering, as the company heads toward a spinoff from parent Huntsman Corp.

  • July 24, 2017

    Prologis' Japan REIT Issuing $305M In New Units

    Prologis Inc.'s Japan real estate investment trust is issuing 33.9 billion yen ($305.2 million) of new investment units, according to an announcement on Monday from San Francisco-based Prologis.

  • July 21, 2017

    The Best Law Firms For Female Partners

    Although women have made some strides toward gender parity in the lower ranks of law firms, breaking into the equity tier remains elusive. These 20 firms, however, are leaders in advancing equality at the top, earning them the designation of Law360 Ceiling Smasher.

  • July 21, 2017

    The Best Law Firms For Female Attorneys

    While the legal industry continues to struggle with gender parity, this year’s Glass Ceiling Report shows that some firms are ahead of the rest. Here, Law360 reveals its third annual ranking of the best law firms for female attorneys, based on their representation of women at the nonpartner and partner levels.

  • July 21, 2017

    The 2017 Law360 Glass Ceiling Report

    U.S. law firms have long been overwhelmingly dominated by men, particularly at the partnership level, and Law360’s latest Glass Ceiling Report shows that recent progress has been — at best — only incremental.

Expert Analysis

  • 2nd Circ. Libor Ruling Won’t Slow Cross-Border Enforcement

    Jason Linder

    Many commentators predict the Second Circuit's Allen decision last week will substantially chill the government's cross-border law enforcement efforts, but the truth is that the government won't have to make major changes to its increasingly robust coordination with foreign law enforcement to avoid similar problems in the future, say Jason Linder and John Long of Irell & Manella LLP.

  • Pay-To-Play Rules Are Here To Stay

    Thomas Potter

    In recent years, the U.S. Securities and Exchange Commission has expanded the reach of rules aimed at preventing pay-to-play practices by municipal securities dealers to include investment advisers, municipal advisers and broker-dealers. With the Sixth Circuit rejecting the latest constitutional challenge in Tennessee Republican Party v. SEC, the issue has escaped judicial review for now, says Thomas Potter III of Burr & Forman LLP.

  • 5 Questions Firms Should Ask When Evaluating Litigation AFA

    Gregory Lantier

    Law firm management should understand the client’s reasons for requesting an alternative fee arrangement, and whether approving the fee will help grow the relationship with the client, say attorneys with WilmerHale.

  • For Law Firm Offices, Business Savvy Is The New Cool

    Craig Braham

    Having embraced the notion that the right space can reinforce the right firm culture, law firm leaders have been evaluating real estate primarily for its physical properties. However, It's hard to be collegial, even in the coolest of in-house coffee bars, if your cost structure is untenable, says Craig Braham of Advocate Commercial Real Estate Advisors LLC.

  • New IPO Policy Signals Pragmatic Regulatory Approach

    Alexander Cohen

    A new U.S. Securities and Exchange Commission policy that allows all issuers to have their registration statements reviewed on a nonpublic basis for initial public offerings — put in place quickly without rule writing or statutory mandate — demonstrates the SEC’s willingness to make significant changes in long-standing policy to spur capital formation, say attorneys with Latham & Watkins LLP.

  • Planning A Legal Career With A Future Relocation In Mind

    Jacqueline Bokser LeFebvre

    Lawyers move to New York City to work on some of the most sophisticated work the legal market has to offer. This exposure and experience is an amazing asset and many of the skills developed will make associates very marketable in the event they consider relocating to another market. However, this isn’t always the case, says Jacqueline Bokser LeFebvre of Major Lindsey & Africa.

  • 4 Female Perspectives On BigLaw Leadership

    Regina Pisa

    Only a handful of the largest U.S. law firms are led by women. Here, in their own words, are perspectives from Shook Hardy & Bacon Chair Madeleine McDonough, Crowell & Moring Chair Angela Styles, Morgan Lewis & Bockius Chair Jami Wintz McKeon and Goodwin Procter Chair Emeritus Regina Pisa.

  • The Elephant In The Room: Advancing Women To Partnership

    Anusia Gillespie

    Despite more focus and investment, the numbers continue to show little progress in advancing women to the top tiers of firm leadership. Considering the irreversible nature of the transformation of the market for top talent, it is time to start experimenting and innovating from the core, rather than from the periphery, say Anusia Gillespie and Scott Westfahl of Harvard Law School.

  • How Midsize Law Firms Can Minimize Cybersecurity Threats

    K. Stefan Chin

    It can be challenging for midsize law firms to develop an enterprise cybersecurity program that mitigates the eminent threat of data breach and meets the regulatory and compliance requirements of the firm and its clients. This challenge becomes daunting when considering the steady rise in client audits, say K. Stefan Chin of Peckar & Abramson PC and John Sweeney of Logicforce.

  • Lessons From The CoinDash Hack

    Stuart Levi

    The CoinDash initial coin offering was hacked within minutes of its launch, resulting in numerous potential purchasers sending their money to a fraudulent address. The hack has raised many questions about the security and legitimacy of ICOs and of the blockchain more generally, says Stuart Levi of Skadden Arps Slate Meagher & Flom.