Adam Hakki (New York-Litigation), Global Managing Partner and Head of the Firm’s Litigation Practice and Disputes Unit will be moderating a panel titled, “Securities Class Action and Shareholder Litigation: Key Developments and Trends – Views from the Plaintiff and Defense Sides,” at the Northwestern Pritzker School of Law 49th Annual Securities Regulation Institute on Wednesday, January 26.

Shearman & Sterling represented the Province of Ontario in connection with Ontario’s public offering of $1.5 billion of its 2.125% bonds due January 21, 2032. Application has been made to the Luxembourg Stock Exchange (LSE) for the bonds to be admitted to trading on the Euro MTF Market of the LSE.

On January 21, 2022, the U.S. Federal Trade Commission (FTC) announced the annual changes to the thresholds for the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”). The official publication is expected to be released in the Federal Register on January 24, 2022. The new size of transaction threshold is $101 million. The new HSR Act thresholds will go into effect 30 days after the official publication and will apply to all transactions closing on or after that date.

Three of Shearman & Sterling’s articles published in 2021 have made it into Concurrences’ final shortlist for the Antitrust Writing Awards 2022.

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.