On May 2, 2019, the Board of Governors of the Federal Reserve System Board proposed amendments to Regulation EE, which implements the netting provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA). The proposed amendments would expand the definition of “financial institution” for purposes of the netting provisions to more clearly cover certain categories of entities and would clarify how the activities-based test under Regulation EE applies following the consolidation of legal entities.

Partners Joshua Thompson (New York-Finance) and Korey Fevzi (London-Finance) have authored the “Global Trends in the Leveraged Loan Market in 2018” chapter in The International Comparative Legal Guide to: Lending & Secured Finance 2019.

Global Managing Partner Adam Hakki and partner Agnès Dunogué (both Litigation-New York) co-authored an article in Law360 on recent “event-driven” litigation trends and why they shouldn’t signal securities fraud.

Partners Elvira Aliende Rodriguez and Geert Goeteyn (both Brussels-Antitrust) were quoted in a Global Competition Review article titled “Cartelist cannot jump on annulment train, rules EU court” on May 8, following the General Court’s judgment in Lucchini.

On May 3, 2019, the SEC proposed for public comment amendments to its rules related to the financial statements required to be disclosed by SEC reporting companies or in IPOs in connection with an acquisition or disposal of a business.

In this quarter, OFAC lifted sanctions on Rusal and other companies following divestment by Oleg Deripaska.  Meanwhile, as Venezuela descends into economic and political crisis, the US targeted PdVSA and others to hasten regime change.

Partner Jay Baris (New York – Investment Funds) penned a piece in the Financial Times on the cryptocurrency custody conundrum and how the US Securities Exchange Commission should regulate the safekeeping of digital assets, like bitcoin, owned by an investment fund or managed account.

Partner Doreen Lilienfeld (New York-Compensation, Governance & ERISA), Global Head of the Governance & Advisory Group), was quoted by Thomson Reuters’ Legal Executive Institute about recent developments underscoring the importance of D&I in business environments.

Partner Lyle Roberts (Washington, D.C-Litigation) authored the article “The M&A Aftermath of High Court’s Emulex Punt” for Law360. The article describes the impact of the Supreme Court’s decision to dismiss as “improvidently granted” the writ of certiorari in the Emulex v. Varjabedian case.

Partners Ben Gris, David Higbee, Djordje Petkoski and associate Mark Weiss (all Washington, D.C.-Antitrust)  authored the article “The Department of Defense’s Role in Merger Review” for the April edition of Competition Policy International’s Antitrust Chronicle. The article provides an overview of the organization and leadership of the Office of Industrial Policy and discusses its involvement in the antitrust review process.