Sullivan & Cromwell LLP

The U.S. District Court for the Northern District of Texas recently found that Exchange Act Rules 3a5-4 and 3a44-2, which would have required certain liquidity providers to register with the SEC as dealers or government securities dealers, exceeded the SEC’s statutory authority and ordered that they be vacated in their entirety.?Subscribe to our memos: https://lnkd.in/eJ2NJfei Learn more: https://lnkd.in/e-5633ea

Join us for an exclusive evening with Sullivan & Cromwell on Wednesday, December 4, 17:30-20:00! This is your chance to connect with S&C representatives, explore trainee life, and learn about the firm’s culture. Who’s Invited? Law students graduating in 2026 and non-law students graduating in 2025 from KCL, LSE, QMUL, and UCL who haven’t accepted a Training Contract with another firm yet. To Apply: Send your CV (with undergrad grades) and cover letter (tell us why S&C and your practice interests) to [email protected] by November 27.

In this episode of S&C Sidebar, Sharon Nelles, Managing Partner of S&C’s Litigation Group, is joined by Lenny Traps, a partner in S&C’s Litigation Group, to discuss how Lenny’s work on financial crisis litigation at the start of his career shaped his training as a generalist lawyer, and how he fosters a strong and productive relationship with clients as a newer partner. Listen to the episode:?https://lnkd.in/gYjHG6zA

Brendan Cullen, a partner in S&C’s Litigation Group, spoke on the panel “‘MDLs – Is There Another Way?” at the Trial Lawyers of Mass Torts’ Bench & Bar Conference on November 19. The conference brought together top-tier judiciary and bar professionals to discuss contemporary issues in complex litigation, with a focus on class actions and mass torts. Learn more about Brendan’s Practice: https://lnkd.in/exevEq8r

S&C Co-Chair Robert Giuffra spoke with the New York Law Journal on the potential impact of derivative lawsuits against foreign companies being litigated in New York. Read the article: https://lnkd.in/gKvyWumq Learn more: https://lnkd.in/gXKHpcqW

An S&C team including Chris Mann, Alan Fishman, Renata de Góes Mascarenhas and Andrea Gonzalez Morales advised the underwriters in Colombia’s $3.6 billion global bond offering and concurrent cash tender offer. Learn more: https://lnkd.in/gpkKwaZi

On November 13, S&C hosted its 11th Annual European Restructuring Seminar “Restructuring and the Dark Arts of Litigation: No prisoners taken….” at The May Fair Hotel in London. The seminar provides the London distressed M&A investor and restructuring community a forum to discuss trends, challenges and opportunities in the industry. This year’s event was chaired by Chris Howard, Head of S&C’s European Restructuring Practice; and presentations were made by associates Anna Delaud, Laura Hadar and Matthew S. (all General Practice Group); as well as Hattie Middleditch, an associate in S&C’s Litigation Group. The discussion, which focused on liability management exercise (LME) litigation, included key takeaways from LME litigation in the United States; LMEs in Europe; and how to best prepare English restructuring plans for litigation. Presley Warner, Head of the Firm’s European Credit and Leveraged Finance Practice, then provided a summary of the topics discussed before introducing Andy Dietderich, Co-Head of S&C’s Finance & Restructuring Group, who spoke on FTX and its global implications with regard to litigious insolvencies.

Malou Huth, Special Counsel in S&C’s Investment Management and Financial Services Groups, spoke in Strafford’s webinar “Vacation of SEC’s Private Fund Adviser Rules: Navigating the Uncertain Future of Reporting and Compliance Obligations” on November 19. The discussion covered the Fifth Circuit's vacation of the Rules, examined the impact this decision will have on the private funds industry, and provided guidance on advising private fund advisers on their compliance and reporting obligations going forward. Learn more about Malou’s practice:?https://lnkd.in/gBHhrVur

Join us for an exclusive evening with Sullivan & Cromwell on Wednesday, December 4, 17:30-20:00! This is your chance to connect with S&C representatives, explore trainee life, and learn about the firm’s culture. Who’s Invited? Law students graduating in 2026 and non-law students graduating in 2025 from KCL, LSE, QMUL, and UCL who haven’t accepted a Training Contract with another firm yet. To Apply: Send your CV (with undergrad grades) and cover letter (tell us why S&C and your practice interests) to [email protected] by November 27.

In this episode of S&C Sidebar, Jay Clayton, Senior Policy Advisor and Of Counsel to Sullivan & Cromwell, is joined by Nicole Friedlander, Co-Head of S&C’s National Security and Cybersecurity Practices, to discuss how to deal with enforcement authorities who may be overreaching, the SEC’s SolarWinds case and Nicky’s focus as a leader in her practice areas. Listen to the episode:?https://lnkd.in/egDAaunF