Shearman & Sterling advised Banco do Brasil and Banco do Brasil Securities, the U.S. investment banking arm of Banco do Brasil, on its recent successful application to the Financial Industry Regulatory Authority (FINRA) for authorization to operate as an underwriter in the United States. As counsel to Banco do Brasil and Banco do Brasil Securities, Shearman & Sterling has acted as counsel in the 2005 SEC registration and NASD (now FINRA) membership application of Banco do Brasil Securities, and have since acted to expand the business of that broker-dealer several times. The present expansion permits Banco do Brasil Securities to act as underwriter on a firm commitment or best efforts basis, including in U.S. public offerings.

The Shearman & Sterling team included partners Bradley Sabel and Russell Sacks (New York-Financial Institutions Advisory & Financial Regulatory) and associate Steven Blau (New York-Financial Institutions Advisory & Financial Regulatory).