• Salinger Authors Article, “A Carbon Tax Plan Proposal: What Are Its Prospects?”

    22 Feb 2017

    Counsel Jeff Salinger (New York-Environmental) wrote an article for the February 21, 2017 issue of the New York Law Journal titled, “A Carbon Tax Plan Proposal: What Are Its Prospects?” In this article, Salinger discusses the recently proposed concession on climate change policy―a carbon tax, offset by a payout to individuals and families, in exchange for a rollback of other regulations on industry, as well as probable opposition by the Trump administration.  

  • O’Brien and Kurmanova Author Article on the Cleansing Effect of Stockholder Ratification

    21 Feb 2017

    Partner Clare O’Brien and associate Aselle Kurmanova (both New York-M&A) co-authored an article, “Power to the People (And Relief to Directors): New Clarity on the Cleansing Effect of Stockholder Ratification,” that was published in the February 2017 issue of The M&A Lawyer.  The article discusses how the standard of review in M&A transactions has evolved over the past 20 years and examines the impact of several recent decisions of Delaware courts on M&A transactions.

  • Governance & Securities Law Focus: Latin America Edition

    Feb 2017

    This newsletter provides a snapshot of the principal US and selected international governance and securities law developments during the fourth quarter of 2016 that may be of interest to Latin American corporations and financial institutions.

  • CFTC Offers Limited Relief for March 1, 2017 Implementation of Variation Margin on Uncleared Swaps

    15 Feb 2017

    On February 13, 2017, the Commodity Futures Trading Commission’s (“CFTC”) Division of Swap Dealer and Intermediary Oversight (“DSIO”) issued two no-action letters with respect to the March 1, 2017 implementation of variation margin (“VM”) requirements on uncleared swaps.  The first letter provides a limited six-month extension of the deadline to put into place variation margin arrangements for swap dealers (“SDs”) and major swap participants (“MSPs”) that have been unable to complete the necessary documentation or operational implementation.   The second letter clarifies the application of the minimum transfer amount (“MTA”) requirements for separately managed accounts (“SMAs”).

  • CFTC Issues No-Action Relief for Swaps With Eligible Affiliate Counterparties Located in Australia or Mexico

    15 Feb 2017

    On December 15, 2016, the Commodity Futures Trading Commission (CFTC) issued a no-action relief letter for swaps executed between certain US swap market participants and their affiliated counterparties located in Australia or Mexico.

  • CFTC Issues No-Action Relief for DCOs and Entities Submitting Swaps for Clearing With Certain DCOs

    15 Feb 2017
    On December 19, 2016, the Commodity Futures Trading Commission (CFTC) issued time-limited no-action relief to derivatives clearing organizations (DCOs) and reporting entities for certain swaps reporting obligations amended by the amendments to swap data recordkeeping and reporting requirements for cleared swaps that were released on June 27, 2016.
  • Financial Regulatory Developments Focus

    10 Feb 2017

    In this newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates.

  • Company Types in the Kingdom of Saudi Arabia

    Feb 2017

    Knowing which corporate vehicle to use is a key concern in any commercial enterprise. This article will summarise the different types of corporate entity used within the Kingdom of Saudi Arabia and the key differences between them.

  • SEC to Reconsider the Pay Ratio Rule

    9 Feb 2017

    On February 6, 2017, the SEC’s Acting Chairman, Michael S. Piwowar, issued a public statement requesting detailed comments on any “unexpected challenges” faced by issuers preparing to comply with the pay ratio disclosure rule and whether relief is needed. Mr. Piwowar also directed the Commission’s staff to reconsider the implementation of the rule based on any comments submitted and to determine whether additional guidance or relief is appropriate. Comments must be submitted by March 23, 2017.

  • Wicks and Pierce Author Article on Direct Lending

    8 Feb 2017

    Partner Ronan Wicks, head of Shearman & Sterling’s European Finance practice, and associate Addison Pierce of the London Finance Group authored an article on direct lending activity in the mid-market space, titled “Brave New World,” that was published by International Financial Law Review on  December 15, 2016. 

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