We provide advice on all aspects of securities, derivative, futures and commodities trading, including issues involving order handling, trade reporting, short sale rules and stock loan questions. We also advise on potential insider trading matters and information barriers.
Strategic Business Transactions
Our lawyers advise on the formation of new broker-dealers and acquisitions, mergers and related integrations (e.g., systems, technology and accounts) involving broker-dealers, including spearheading the federal, state and SRO filings and approvals required on short timeframes to ensure these transactions meet closing deadlines. We advise on business opportunities in the futures area, including counseling the first commodity pool listed in a national securities exchange and overseas. We also advised a major U.S. financial institution on its first move into Asia, identifying all legal and regulatory issues related to choosing one financial center over another and then obtaining all necessary Asian and U.S. registrations. As appropriate, we assist our clients in obtaining exemptive orders and no-action relief from relevant regulators.
Rulemaking and Examinations
Drawing on our lawyers’ deep knowledge of securities regulation, we regularly advocate on behalf of our clients as regulators consider adopting new rules and regulatory interpretations. Our lawyers regularly comment on proposed SEC, CFTC or SRO rules, and we represent our clients in litigation challenging new rules. Once new rules are adopted, we counsel clients on the systems, policy and practice changes necessary to implement them.
We also assist our clients in responding to requests made by regulators during examinations and inspections. Our lawyers help clients anticipate and address areas of potential concern to regulators, which often allows them to avoid an enforcement investigation.