Capital Markets

Expert Analysis

• Cloud Computing Clearly The Future For Small Firms

  

  While in-house technology investments on the scale and complexity needed to compete with large firms remain cost prohibitive for small and midsize law firms, cloud-based services offer significant cost savings and productivity gains with little to no capital investment, says Holly Urban of Effortless Legal LLC.

• Leveraging Today's Lateral Associate Market

  

  With the Milbank/Cravath pay scale once again equalizing compensation at many Am Law 100 firms, there is even more pressure for firms to differentiate themselves to top lateral associate candidates. This presents strategic considerations for both law firms and lateral candidates throughout the recruitment process, says Darin Morgan of Major Lindsey & Africa.

• Opinion

  What I Learned As Lehman's Bankruptcy Lawyer

  

  I have spent nearly 10 years fighting in court for the rights of Lehman Brothers’ creditors. This arduous legal journey has yielded insights into weaknesses in our financial system and bankruptcy laws that could allow catastrophic losses to happen again, says Andrew Rossman of Quinn Emanuel Urquhart & Sullivan LLP.

• Zaslavskiy Does Little To Encourage Clear Crypto Guidance

  

  A New York federal judge's decision last week in Zaslavskiy relieves the government of a potentially significant pleading burden when bringing cryptocurrency actions, but does not encourage clarification of clear standards for application of the Howey test, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

• Q&A

  Back To School: Stanford's Jeff Fisher Talks Supreme Court

  

  In this series featuring law school luminaries, Stanford Law School professor Jeffrey Fisher discusses his motivation for teaching, arguing before the U.S. Supreme Court and what the court might look like if Judge Brett Kavanaugh is confirmed.

• The Diminishing Role Of Agency Guidance

  

  An interagency statement issued by several banking agencies last week — that supervisory guidance does not have the force and effect of law — reflects the current administration’s deregulatory agenda. But ultimately, the agencies’ newly stated position may have little practical impact, say attorneys with Arnold & Porter.

• Where Have The SEC Enforcement Actions Gone?

  

  There has been a dip in the number of enforcement actions from the U.S. Securities and Exchange Commission during Chairman Jay Clayton’s tenure, but this decline does not tell the whole story. The commission is still bringing a historically high volume of actions — they just happen to be in slightly different areas, says Kurt Wolfe of Troutman Sanders LLP.

• Calif.'s New Rules For Lawyers Move Closer To ABA Model

  

  The first comprehensive overhaul of California's Rules of Professional Conduct in nearly 30 years becomes operational on Nov. 1. Some of the new rules mirror the model language used by the American Bar Association, but many continue to reflect California’s unique approach to certain ethical questions, says Mark Loeterman of Signature Resolution LLC.

• Know The Limits To Atty Public Statements During A Trial

  

  The balancing act between protecting attorneys’ speech rights and ensuring unbiased adjudications was highlighted recently in two cases — when Michael Cohen applied for a restraining order against Stephanie Clifford's attorney, and when Johnson & Johnson questioned whether a Missouri talc verdict was tainted by public statements from the plaintiffs' counsel, says Matthew Giardina of Manning Gross & Massenburg LLP.

• In Calif., Questions Remain On Law Firm Conflict Waivers

  

  In Sheppard Mullin v. J-M Manufacturing Co., the California Supreme Court ruled last month that a law firm's failure to disclose a known conflict with another current client did not categorically disentitle the firm from recovering fees. But the court didn’t provide hoped-for guidance on how to write an enforceable advance conflict waiver, says Richard Rosensweig of Goulston & Storrs PC.