Closing the year with a renewed focus on the People’s Republic of China, the Biden Administration imposed new export restrictions on US-origin technology to Chinese tech firms to hinder the PRC’s military and security apparatuses, sanctioned several Chinese officials in Hong Kong for purported encroachments on the region’s autonomy, and signed bipartisan legislation aimed at preventing the importation of goods produced by forced labor.  Meanwhile, the State Department sanctioned a construction company for its involvement in the Nord Stream 2 pipeline, as President Biden worked with allies to try to leverage NS2’s operation to deescalate tensions at the Russia-Ukraine border.   Amid a notable rise in cyber-attacks worldwide, OFAC sanctioned a virtual currency exchange for facilitating ransomware transactions and the Department of Commerce blacklisted companies who develop cyber-enabled technology.  Finally, enforcement actions this quarter highlight how human errors can lead to compliance gaps by undermining automated controls.

Shearman & Sterling represented Tereos SCA on its high yield bond offering of €350 million 4.75 percent senior notes due 2027 through its subsidiary Tereos Finance Group I SA.

The 2022 proxy season is just around the corner. This quick reference guide, which is intended to supplement Shearman & Sterling’s 19th Annual Corporate Governance & Executive Compensation Survey, summarizes themes from the 2021 proxy season and developing trends to consider for 2022.

Shearman & Sterling’s Antitrust practice has been recognized by Law360 as a “Practice Group of the Year” in the Competition/Antitrust category. Winning practice groups are selected based on the breadth and significance of the matters highlighted and the complexity of the firm’s work during the past year.

Shearman & Sterling advised FLEX Capital on the financing of the acquisition of AMPAREX GmbH, the market leader in software for hearing care professionals, and IPRO GmbH, the market leader in software for opticians. The Berlin-based investment company FLEX Capital is thus laying the foundation for a software group of companies for "other service providers" in the healthcare sector.

Shearman & Sterling Antitrust partner James Webber has been listed as one of The Lawyer's Hot 100 for 2022. The Lawyer Hot 100 is an annual report identifying the most innovative and creative lawyers in the UK for the past year.