Securities

Slaughter & May: Shareholder Group Litigation On the Rise – But Why?

Slaughter & May: Shareholder Group Litigation On the Rise - But Why? 1

Litigation by shareholders against listed companies appears to be on the rise, with claims against Tesco and Lloyds Bank making the headlines recently. This briefing explores the factors that are contributing to the rise of claims by shareholders against listed companies, why they are likely to increase, and what companies can do to protect themselves. …

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Theresa May Sets Out ‘Five Tests’ To Test Brexit Deal

Theresa May Sets Out 'Five Tests' To Test Brexit Deal 2

Pillsbury – The Prime Minister has given the clearest indication yet of what the UK will seek in the Brexit negotiations. Access to each side’s markets is going to be less than it is today. The UK will leave the single market and things are going to be different in the future, but the UK …

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SEC Announces Self-Reporting Initiative for Rule 12b-1 Fee Disclosures

SEC Announces Self-Reporting Initiative for Rule 12b-1 Fee Disclosures 4

Davis Polk – Enforcement Division “Share Class Selection Disclosure Initiative” offers “favorable” settlement terms to advisers who self-report potential violations concerning Rule 12b-1 fees. Over the past several years, the Commission’s Office of Compliance Inspections and Examinations has placed an enhanced focus on identifying situations in which an adviser does not adequately disclose that it …

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SEC Pays Attention to Cryptocurrencies, Blockchain Technology & ICOs

SEC Pays Attention to Cryptocurrencies, Blockchain Technology & ICOs 6

Eversheds Sutherland –  Cryptocurrencies and initial coin offerings (ICOs) were a recurring area of focus in presentations by multiple divisions of the Securities and Exchange Commission at its annual “The SEC Speaks” conference in Washington, DC on February 23-24, 2018. While the SEC does not seem to have reached consensus yet on how to treat …

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An Australian Court’s Blockchain Breakthrough

An Australian Court's Blockchain Breakthrough 8

Proskauer – Blockchain advocates have been awaiting the final decision by ASX Ltd, the Australian Securities Exchange, as to whether ASX will replace its existing and aged CHESS registry, settlement and clearing system with a blockchain-based system that ASX has been developing and testing for the last two years. Last December, ASX announced that it …

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Rights Offerings Prove Popular with Debtors and Distressed Investors

Rights Offerings Prove Popular with Debtors and Distressed Investors 10

Skadden Arps – The past few years have brought a number of large rights offerings in bankruptcies in the energy, healthcare, and retail sectors. Between January 1, 2015, and December 1, 2017, more than $5.5 billion was raised through rights offerings or private placements in more than two dozen large bankruptcy cases. In 2017 alone, …

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10 Themes for 2018

future law firm success

Skadden Arps –  Tax reform, shifting international dynamics, Trump administration goals and a potentially strong market for transactions all seem likely to impact business activity in 2018. Below are 10 areas to explore in our 10th annual Insights publication. 1. Tax Reform Takes Center Stage The most comprehensive tax reform in the United States since 1986 made …

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What To Learn From the South Korean Cryptocurrency Hack

What To Learn From the South Korean Cryptocurrency Hack 14

Foley Hoag – As part of our Year in Preview series, we’ve recently covered both international cyberwar and the rise of cryptocurrency. Just before the holidays, both of these topics collided in a decidedly unpleasant manner. On December 19, the South Korean cryptocurrency exchange Youbit filed for bankruptcy, disclosing that it had just suffered a …

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The French Blockchain Revolution: Leading the Way With Technology & Unlisted Securities

The French Blockchain Revolution: Leading the Way With Technology & Unlisted Securities 15

Davis Polk – After being one of the first countries to recognize blockchain technology in the field of cash vouchers, or minibons, France has become the first country to authorize the registration and transfer of unlisted securities by using the blockchain technology. With the aim of making France the world’s forerunner in the legal recognition …

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City law firm acting for Cryptocurrency Innovator Byzen Digital as it Ramps Up in Advance of Initial Coin Offering

UK commercial law firm, Al Bawardi Critchlow, today announced that its founder and senior partner, Dr Julian Critchlow, has been appointed as a non-executive director by blockchain and cryptocurrency technology company, Byzen Digital Inc. Dr Critchlow joins the Byzen Digital board in preparation for the firm’s initial coin offering, scheduled for 2018. Al Bawardi Critchlow …

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