Capital Markets

Expert Analysis

• FIRREA Remains Potent Civil Fraud Enforcement Tool

  

  Last year, three court decisions addressing the Financial Institutions Reform, Recovery and Enforcement Act's civil monetary penalties provision — two at the final judgment stage and one at the pleadings stage — expanded FIRREA jurisprudence and remind us why this statute cannot be ignored, say attorneys at Morgan Lewis.

• What SEC's Accredited Investor Proposal Means For PE Funds

  

  A recent proposal from the U.S. Securities and Exchange Commission would allow more investors to participate in private offerings, but divisions at the SEC and among investment advocates suggest further debate may be ahead before a finalized rule emerges, say Michael Gold and Nicholas Stewart at Saul Ewing.

• How Associate Life Has Evolved Over The Past Decade

  

  During the last 10 years, the need to embrace change was fundamental for law firms, and that change affected associates in many ways — most, but not all, for the better, says Brad Kaufman, co-president of Greenberg Traurig.

• 8 Executive Pay Considerations For An Economic Downturn

  

  Amid forecasts of economic volatility, employers should address executive compensation and performance awards progressively and with quick adjustments when disruption hits, say Mark Poerio and Dan Brandenburg at The Wagner Law Group.

• Series

  Judging A Book: Dyk Reviews 'Democracy And Equality'

  

  In their new book "Democracy and Equality: The Enduring Constitutional Vision of the Warren Court," Geoffrey Stone and David Strauss provide valuable context for U.S. Supreme Court decisions under Chief Justice Earl Warren that have profoundly affected the country, but their overly protective attitude sometimes obscures reality, says Federal Circuit Judge Timothy Dyk.

• SEC's Audit Proposal May Bolster Compliance, Competition

  

  A newly proposed rule from the U.S. Securities and Exchange Commission on public companies' relationships with their auditors could make the current auditor independence framework easier to comply with, and mitigate competition pressure from issues that should not reasonably threaten an auditor’s objectivity, say Charles Smith and Andrew Fuchs at Skadden.

• The Pitfalls Of SEC's Crypto Regulation By Enforcement

  

  Absent clear rules to govern cryptocurrency, the U.S. Securities and Exchange Commission’s continued regulation by enforcement could result in industry stagnation, increased global competition, problematic messaging and due process issues, say attorneys at Quinn Emanuel.

• 7 Insider Tips For Working With In-House Counsel

  

  For outside firms wondering how to best support busy in-house lawyers, several practices can help navigate critical legal issues and novel business challenges while strengthening the working relationship, says Virginia Hudson, associate general counsel at Capital One.

• 50 Years Later, Interpretive Challenges Remain For RICO

  

  In the 50 years since the Racketeer Influenced and Corrupt Organizations Act was passed, courts' attempts to clarify the statute have had some success, but many interpretive dilemmas remain unresolved, says Randy Gordon of Barnes & Thornburg.

• Ransomware’s Year-End Thank You Note To Bitcoin

  

  Last year's surge in ransomware attacks got a boost from Bitcoin, which helped cybercriminals carry out their extortion schemes with much greater ease, efficiency and speed, says cybersecurity consultant John Reed Stark.

• 7 Ethics Tips For Lawyers' Pretrial Social Media Use

  

  As ethical constraints on pretrial social media use evolve, the American Bar Association's Model Rules and several court opinions provide guidance on avoiding violations when collecting evidence, researching jurors and friending judges, say Hilary Gerzhoy and Mark Davis at Harris Wiltshire.

• Opinion

  States Should Not Follow ABA On Attorney Conduct Rules

  

  Because the American Bar Association's new rule on diversity continues to use the Model Rules of Professional Conduct as a cultural bludgeon, states should create independent codes limited to constitutionally valid purposes of attorney regulation, says Bradley Abramson of Alliance Defending Freedom.

• The Making And Unmaking Of The Volcker Rule

  

  As the late Paul Volcker's efforts to rein in banks after the financial crisis come under attack, now is a good time to revisit how his namesake rulemaking came to pass, and consider the risks of relaxing the limits on bank proprietary trading, say former Michigan Sen. Carl Levin and former Senate counsel Tyler Gellasch.

• What Federal Cannabis Bills Mean For Private Lenders

  

  If approved by Congress, the Marijuana Opportunity Reinvestment and Expungement Act and the Secure and Fair Enforcement Banking Act could provide private lenders with cannabis investment opportunities, increased competition, and a solid entry point into this lucrative market, say Tae Kim and Olivia Durnell at Geraci.

• How Courts And Litigants Can Benefit From Special Masters

  

  As we approach the first anniversary of the American Bar Association's adoption of guidelines for the appointment and use of special masters in civil litigation, retired U.S. District Judge Shira Scheindlin, now at Stroock, explains how special masters can help parties and courts with faster decision-making and subject matter expertise.