Shearman And Sterling

Shearman & Sterling is firmly committed to helping clients achieve their business objectives. With a focus on our clients’ changing needs and goals, we deliver a wide range of materials and services to keep them up to date and informed.

Perspective

Exemption of Prior Notification Under the Amended Foreign Exchange Act of Japan – Chinese Tencent’s Investment in Rakuten

April 20, 2021

Partner Masahisa Ikeda, Asia Regional Managing Partner and Head of Shearman & Sterling’s Tokyo office, commented on the issue with the exemption criteria under the Foreign Exchange Act of Japan in the April 20, 2021 issue of The Nikkei.

Perspective

US Trade Policy in Transition: What You Need to Know

April 16, 2021

President Biden has set out a sweeping trade agenda designed to restore the U.S. economy, U.S. leadership and U.S. partnerships. A legacy of unilateral action and global tariffs, however, will take time to moderate and require due consideration of the global economic reality, as well as a political balancing act. View the Biden Administration’s full trade agenda. This article discusses what you need to consider right now.

Perspective

How Open Banking in the UK is Lighting the Path for Global FinTech

April 13, 2021

In an increasingly virtual world, law and regulation act as a crucial safety net for businesses. The nature of that safety net varies, depending on the particular legal jurisdiction where the businesses are located. Global providers in the FinTech arena can be mobile and nimble and must choose their home country for these purposes carefully.

Perspective

Lyle Roberts Analyzes Recent Securities Fraud Cases in the Ninth Circuit

April 13, 2021

Partner Lyle Roberts (Washington, D.C.-Litigation) has authored an article titled, “The Ninth Circuit’s Recent Decisions on the Pleading of Loss Causation in Securities Fraud Cases,” for The Review of Securities & Commodities Regulation.

Perspective

Shearman Women Webinar: Taking a Company Public: IPO Readiness and Current Trends in SPACs

April 12, 2021

In 2020, the world has seen the highest IPO capital raising activity in a decade with no signs of stopping in the first part of 2021. For a company considering an IPO, careful planning and consideration is required to access the public markets. 

Perspective

Sanctions Round Up: First Quarter 2021

April 12, 2021

The first months of the Biden Administration signaled the new US President’s willingness to remain tough on China in the short term. Meanwhile, the new Administration appeared to pause the US “maximum pressure” policy against Iran as it engages in multi-lateral discussions to explore options for resuming US participation in a nuclear deal.

Perspective

Major Biden Administration Infrastructure and Jobs Plan Released

April 02, 2021

On Wednesday, March 31, the Biden administration released its American Jobs Plan (AJP), a detailed blueprint to spend more than $2 trillion over eight years for a wide range of infrastructure-related initiatives, including both “core” or “traditional” infrastructure programs as well as “non-core” and social welfare proposals. The administration has signaled that the AJP is the first of two large legislative packages it intends to introduce over the coming weeks, with the second to focus on other issues such as health and education.

Perspective

SEC Issues Risk Alert on Suspicious Activity Monitoring and Reporting at Broker-Dealers

March 31, 2021

On March 29, 2021, the SEC’s Division of Examinations issued a Risk Alert emphasizing broker-dealers’ obligations to monitor and report suspicious activity. The alert includes observations from SEC examination staff on the adequacy of firms’ AML compliance programs, particularly the detection and reporting of red flags relating to abrupt increases in volume in low-priced or thinly-traded stocks. While these are not new regulatory concerns, they are the subject of renewed focus by staff following the recent price and volume volatility in certain stocks driven by social media.

Perspective

Shining the Spotlight on Anti-Money Laundering in Asia

March 31, 2021

In this article, first published in Thomson Reuters Regulatory Intelligence on March 23, partner Brian G. Burke (New York & Shanghai-Litigation), senior associate Mathew Orr (London-Litigation) and associate Rishikeesh Wijaya (Singapore-Litigation) consider the latest developments and trends in anti-money laundering (AML) regulation and enforcement across Asia.

Perspective

IRS Issues Final Regulations on Section 45Q Carbon Capture Credits

March 30, 2021

The U.S. Internal Revenue Service (IRS) and the U.S. Treasury Department (“Treasury”) have issued final regulations (T.D. 9944) (the “Final Regulations”) providing additional guidance on several aspects of the income tax credit for the capture of qualified carbon oxide (CO) under section 45Q of the Internal Revenue Code of 1986, as amended (the “Code”). By largely adopting the proposed regulations released on May 28, 2020 (REG -112339-19) (the “Proposed Regulations”), discussed in our client alert dated June 22, 2020, with certain helpful modifications, the Final Regulations aim to alleviate some of the uncertainty previously faced by developers and should attract more widespread attention and investor participation.