Practice Areas & Industries: Sullivan & Cromwell LLP


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Financial services are the backbone of global business, integrating sectors such as banking, asset management, insurance and private equity.

Serving clients around the world through a network of 12 offices, located in leading financial centers in Asia, Australia, Europe and the United States, Sullivan & Cromwell's Financial Services Group represents this sector through a fully integrated team of lawyers. The geographic complexities S&C clients face touch upon regulatory implications, mergers and acquisitions, capital markets, and investigations and litigation, as well as other practice and industry sectors featured on the right side of this page.

The financial services regulatory environment has grown more complex in the aftermath of the financial crisis. To meet this challenge, S&C works with its clients to understand and respond to the latest legislative and regulatory aspects of financial services reform that are fundamental to their core strategies, including extensive briefings, resources and advice on the Dodd-Frank Wall Street Reform and Consumer Protection Act, Basel III and other reform efforts. The Firm’s long-term experience in these complex areas of practice has helped generate trust from its clients in the advice it provides to a large number of financial institutions, large and small, U.S. and non-U.S., as well as from the financial services industry at large.

Articles Authored by Lawyers at this office:

Second Circuit Rejects “Listing” and “Foreign-Squared” Claims Under Morrison v. National Australia Bank
, May 09, 2014
In Morrison v. National Australia Bank, the U.S. Supreme Court opined that U.S. securities laws apply only “in connection with the purchase or sale of a security listed on an American stock exchange, and the purchase or sale of any other security in the United States.” Seizing on that...

Banking Applications: Federal Reserve Provides New Insight Regarding Consideration of Banking Applications and Notices; Announces New Semi-Annual Publication of Banking Application Data
, May 08, 2014
Supervisory Letter No. SR 14-2/CA 14-1 (the “Letter”), issued by the Board of Governors of the Federal Reserve System (the “Federal Reserve”), discusses various issues that may prevent the Federal Reserve from acting favorably on applications and notices submitted by banking...

Basel Large Exposures Framework: Basel Committee Publishes Standards for the Supervisory Framework for Measuring and Controlling Large Exposures
, May 08, 2014
The Basel Committee on Banking Supervision (the “Basel Committee”) recently published final standards for the supervisory framework for measuring and controlling large exposures (“LE Framework”) of internationally active banking organizations. The LE Framework, like...

The ATU Restructuring and the Judgement of the English Courts: Novel Techniques for Restructuring European High Yield
, May 08, 2014
The restructuring of the ATU group as a European high yield issuer (pursuant to which the ownership of the group was transferred to its senior noteholders) provides a useful insight into how the next generation of European high yield issuers could potentially be restructured using English...

Bank Capital: Supplementary Leverage Ratio; Federal Banking Agencies Propose Revisions to the Supplementary Leverage Ratio’s Exposure Measure and Approve Final Rules Implementing an Enhanced Supplementary Leverage Ratio for the Largest U.S. Banking Organizations
, April 23, 2014
Last week, the Federal Deposit Insurance Corporation (the “ FDIC ”), the Board of Governors of the Federal Reserve System (the “ FRB ”) and the Office of the Comptroller of the Currency (the “ OCC ” and, together with the FDIC and F RB, the “ Agencies...

Estate, Gift and Trust Provisions in New York State 2014-15 Budget: New York State 2014-15 Budget Makes Changes to the Taxation of Estates and Gifts and the Income Taxation of Certain Trusts
, April 15, 2014
On March 31, 2014, Governor Andrew Cuomo signed into law the New York State 2014-15 Budget (the “Budget”). This memorandum describes the changes made by the Budget to the taxation of estates and gifts and the income taxation of certain trusts. We will be distributing a separate...

New York’s Highest Court Strengthens Forum Non Conveniens Doctrine in Cases Having Peripheral Connection to New York Banking System: Mashreqbank PSC v. Ahmed Hamad Al Gosaibi & Brothers Company
, April 15, 2014
In an opinion issued on April 8, 2014, the New York Court of Appeals unanimously dismissed on forum non conveniens grounds a case arising from a foreign exchange transaction between a bank in the United Arab Emirates and a general partnership in Saudi Arabia, where the only nexus between the...

Volcker Rule: Federal Reserve Issues Statement of Intent to Extend the Volcker Rule Conformance Period Through July 21, 2017 for CLOs
, April 15, 2014
Late yesterday afternoon, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) released a statement regarding the treatment of collateralized loan obligations (“CLOs”) under Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act...