Mike Rave was quoted in an analysis article, "Reg Rollbacks Seen As Bit Player In $28B BB&T-SunTrust Deal," published by Law360. Despite criticism from Democratic lawmakers, who view the $28 billion merger between SunTrust and BB&T as a potentially dangerous byproduct of recent efforts to loosen post-crisis regulations on big banks, the article reports that financial services attorneys indicate that this deregulation is only a minor player in this latest banking industry consolidation.
As noted in the article, the Fed has called for relaxing certain capital requirements and other prudential standards for banks with between $250 billion and $700 billion in assets as part of its package of "tailoring" proposals unveiled last fall, but there, too, the biggest regulatory rollbacks are aimed at banks a step smaller than the proposed BB&T-SunTrust combination.
Rave told Law360 he is not sold on the idea that this particular merger is the result of these deregulatory efforts. To the extent rule rollbacks do spur transactions, it's going to be on the smaller end of the regional bank spectrum, where tie-ups can be expected to land below the new systemically important threshold, he commented. "You're going to see a lot more deals not necessarily above the $250 billion level, but between the $50 billion and $250 billion levels," Rave said.
On January 27, Michael Rave will be speaking on "Public & Private Capital Raising: How To Fund Your Bank for Growth and/or Change" at Bank Director's annual conference, Acquire or Be Acquired, in Phoenix, AZ.
Brian Fischer spoke on "Defining Success from a Legal Perspective – How to Best Structure the Transaction to Meet the Owner's Objectives while Providing Significant Legal Protection," at an Exit Planning Exchange (XPX) Hartford program.
Michael Rave will be speaking at Acquire or Be Acquired, an annual conference presented by Bank Director magazine being held in Phoenix from January 28 – 30.
On January 19, Michael Rave will be speaking at the Economic Leadership Forum, presented by the New Jersey Bankers Association.
Stephen Ziobrowski and Andrew Wogman authored the article "Challenges of Selling an S Corporation," which was published by Law360.
Day Pitney Press Release
Gary Betensky and Michael Napoleone were featured in a profile, "Day Pitney LLP: Firm Expands to Better Serve South Florida Clients," published in the March issue of The Boca Raton Observer magazine.
Jed Davis was quoted in an article, "Marriott Hack Shows Risks Of Lax Cyber Diligence In Mergers," published by Law360.
On March 14, Dina Kapur Sanna spoke on a panel, "Nuts and Bolts of Domesticating Foreign Trust Structures," at the 15th Annual International Estate Planning Institute, hosted by the New York State Bar Association and chaired by Warren Whitaker.