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Twentieth Annual Institute on Securities Regulation in Europe: Practical Implications of U.S. Law on EU Practice

Speaker(s): Adam Pickard, Akshat Khaitan, Alan Brener, Albert Stieglitz, Alessia C. Trevisan, Alexis Collonge, Alyssa Caples, Andrew J. Bagley, Anita B. Bandy, Anna Meek, Anne Breslin, Ariel White-Tsimikalis, Ben Novick, Betty Moy Huber, Cecil D. Quillen III, Christos Nifadopoulos, Daniel K. Winterfeldt, David M. Ludwick, Deborah A. Smith, Derk Lemstra, Diana Billik, Diane Hart, Eva Bishop, G. Jeffrey Boujoukos, Gabriel Callsen, Ijeoma Okoli, Jake Green, John J. Cannon III, John Vanosdall, John W. White, Julia Smithers Excell, Justin Weitz, Katherine Brody, Lorenzo Corte, Mark Francis, Mark S. Bergman, Martin Parkes, Mary B. Tokar, Michael Coletta, Michael N. Dakin, Nicola Higgs, Paul A. Beswick, Pawel Szaja, Rob Evans, Sachin Davé, Sadia Salam, Sarah E. Lewis, Sebastian R. Sperber, Susan L. Saltzstein, Thomas N. O'Neill III, Vanessa Blackmore
Recorded on: Apr. 21, 2021
PLI Program #: 306256

Ariel White-Tsimikalis is a partner in the firm’s Technology and Life Sciences group and Capital Markets practice. She specializes in advising financial institutions, corporates and private equity funds on equity capital markets transactions (including IPOs and secondary offerings) and general public company advisory matters. She is a member of the firm’s ESG & Impact, Women’s Health & Wellness and Public Company Advisory groups and regularly advises listed companies and regulated entities on their ESG obligations, with a particular focus on governance matters. Ms. White-Tsimikalis has extensive experience advising banks and other financial institutions, having spent time on secondment at global investment banks Goldman Sachs, Jefferies and Citi.

Drawing on her cultural background, Ms. White-Tsimikalis has a particular interest in the emerging markets of Greece and Africa particularly in the Tech sector.

Akshat Khaitan (London) joined KKR 2019 and is a member of the Capital Markets team. Prior to joining KKR, he worked in Deutsche Bank's EMEA leveraged finance group in London. Before that, Mr. Khaitan worked in Deutsche Bank’s financial institutions group in New York. He holds a Bachelor of Science in Commerce from University of Virginia, McIntire School of Commerce in Charlottesville, Virginia.

Alessia Trevisan, Vice President and Assistant General Counsel at J.P. Morgan, is a US qualified lawyer. She is an expert in debt capital markets and leveraged finance. Before joining J.P. Morgan, she practiced in the capital markets group of Latham & Watkins in Milan and London.

Alyssa K. Caples is a partner in Cravath’s Corporate Department, focusing on international corporate finance and mergers and acquisitions. Her capital markets practice encompasses investment grade and high-yield bond offerings and equity financings. Ms. Caples also regularly advises clients with respect to governance, public reporting and general corporate matters. She has been in the London office since 2010.

Ms. Caples’s corporate clients have included British American Tobacco, a global producer and seller of tobacco products, Drax, a vertically-integrated electricity supplier in the United Kingdom, Picard Groupe, a French frozen food retailer, INEOS, one of the world’s largest chemical companies, and its affiliates INOVYN, INEOS Quattro and INEOS Styrolution, and Bacardi Limited. She has also represented the initial purchasers in connection with bond offerings for Infopro Digital, a French business-to-business media and business information company, Lowell, a receivables management company, and Casino Group, a leading major multi-format, multi-banner and multi-channel food retailer.

Ms. Caples has been repeatedly recognized as a leading practitioner in the capital markets arena by Chambers UK, Chambers Global, The Legal 500 UK and IFLR1000.

Ms. Caples is from Ottawa, Canada. She received a B.A. summa cum laude from Columbia University in 1997, where she was elected to Phi Beta Kappa, and a J.D. cum laude from Harvard Law School in 2000, where she was a member of the Board of Student Advisors and a Senior Editor of the Journal of Law and Public Policy.

Ms. Caples joined Cravath in 2000 and was elected a partner in 2008.

Andrew Bagley is EMEA General Counsel of Goldman Sachs and head of the EMEA Legal Department. He serves as counsel to the European Management Committee and the Board of Directors of Goldman Sachs International, co-chair of the firm’s Structured Products Committee and is a member of the regional Conduct Risk, and Inclusion and Diversity committees.

Prior to joining the firm, Andrew qualified as a solicitor at Herbert Smith in London.
Andrew earned a BA in Literae Humaniores from Magdalen College, Oxford, in 1992.

Anita Bandy is an Associate Director in the Securities and Exchange Commission’s Division of Enforcement, where she assists in planning and directing the Commission’s enforcement program.  Anita joined the Commission in 2004 and then served in several positions of increasing responsibility in the Enforcement program.  During her tenure at the Commission, Anita has led multiple enforcement initiatives and has supervised dozens of investigations that resulted in actions spanning a wide range of matters, including financial fraud, offering frauds, market manipulation, the Foreign Corrupt Practices Act, the Jumpstart Our Business Startups Act, and other illegal acts that occur in the mergers & acquisitions, cyber, broker-dealer and investment-adviser space.  Prior to joining the SEC, Anita spent several years in private practice at the law firm of Proskauer LLP, where she focused on white collar and SEC defense work.  She received her J.D. with honors from American University and her undergraduate degree with honors from the University of Michigan.

Anne Breslin is currently the Chief Compliance Officer for EMEA & Asia at Jefferies International Ltd.  Anne has 20 plus years’ experience within the Financial Services industry, having held senior compliance roles at Citigroup and Barclays Capital prior to joining Jefferies in 2011.

Ben Novick is an executive director in the General Counsel’s office at UBS Investment Bank. He specializes in US securities law and ECM and advisory transactions in EMEA. A graduate of the University of Michigan and the University of Oxford, where he was a Marshall Scholar, Ben received his JD from Yale Law School. He has worked in London since 2006, and in his spare time enjoys hiking and commuting between his living room and bedroom offices.

Betty Moy Huber is co-head of the firm's ESG Group as well as co-head of the firm's Environmental Transactional Group. For over two decades, she has provided advice in hundreds of transactions as well as ESG, disclosure and other regulatory advice to various public and private equity companies.

A former member of the SASB’s Advisory Council, she speaks on ESG topics for numerous organizations including ALI, ABA, Bank Policy Institute,, Environmental Law Institute, Lawline, the New York City Bar, Risk Management Association, SIFMA, and the Society for Corporate Governance.

Ms. Huber writes on ESG topics for various publications, including Bloomberg BNA, Financial Times' Agenda,,, Directorship magazine, Financier Worldwide, Harvard Law School Forum on Corporate Governance and

Financial Regulation, Corporate Governance Advisor and Dow Jones Private Equity Analyst.

She is cited as a legal expert in countless publications, including Barron's, Pensions & Investments, Thomson Reuters and The Wall Street Journal.

Ms. Huber guest lectures on ESG matters at various law schools including University of Virginia and University of Florida.

Daniel Winterfeldt is a Managing Director and the General Counsel for EMEA and Asia at Jefferies. He is a senior corporate and securities lawyer with over 22 years of experience in London and New York.

Daniel founded the Forum for US Securities Lawyers in London (  in 2006 to address US securities issues in the London market across law firms, banks and intermediaries. In 2015 the Forum took a leading role in supporting the London Stock Exchange and Euroclear UK & Ireland (CREST) in designing and implementing the system to allow for the electronic trading and settlement of Regulation S, Category 3 securities of US issuers trading on the London Stock Exchange. For this innovation, which makes it easier for US companies to IPO on the London Stock Exchange, the Forum was 'Highly Commended" by the FT Innovative Lawyers Awards in 2016 in the category ‘Innovation in Navigating Regulation’.

In 2008, Daniel founded the InterLaw Diversity Forum (, which seeks to promote meritocracy and inclusion for all diverse and socially disadvantaged groups in the legal sector.  The InterLaw Diversity Forum was ‘Highly Commended’ by the FT Innovative Lawyers Awards in 2016 for ‘Innovation in Human Resources’. The InterLaw Diversity Forum currently has more than 8,500 members and supporters from over 300 law firms and chambers, and over 500 corporates and financial institutions.

He was named the ‘Legal Innovator of the Year’ at the FT Innovative Lawyers Awards in 2012 for his work in capital markets and diversity and inclusion. 

Daniel was admitted to the Bar of the Supreme Court of the United States in 2013.

In 2020 Daniel was appointed as Queen’s Counsel Honoris Causa (Honorary QC) for both his contributions to capital markets in England & Wales through the Forum for US Securities Lawyers in London as well as his contributions to diversity, inclusion and culture in the legal sector through the InterLaw Diversity Forum.

In 2020 Daniel was named an MBE for “Services to Capital Markets, to Equality and to Diversity in the Legal Profession” for his work through the Forum for US Securities Lawyers in London and through the InterLaw Diversity Forum.

Daniel was a member of the Equality & Diversity Committee at the Law Society of England & Wales for six years; he was a member of the Judicial Appointments Commission’s Judicial Diversity Task Force for three years.

Daniel was a member of the Primary Markets Group of the London Stock Exchange for seven years.

David Ludwick is a US partner based in London with more than 25 years’ experience who specializes in capital markets. He has extensive experience on a broad range of equity securities offerings (including IPOs, private placements, depositary receipts, rights issues and block trades) and debt transactions (including high yield, investment grade, convertible debt, hybrid securities and liability management transactions). He has broad global experience advising a wide range of companies seeking to access the US and international capital markets, as well advising investment banks and other financial intermediaries. David’s clients come from various sectors including consumer, financial institutions, biotech and pharmaceuticals, energy and natural resources and real estate.  David has advised on transactions in numerous countries including Australia, Belgium, Cambodia, China, Denmark, France, Germany, India, Indonesia, Israel, Italy, Luxembourg, Malaysia, the Netherlands, Philippines, Russia, Singapore, South Korea, Sweden, Switzerland, Turkey, Ukraine, the United Kingdom and the United States. He is recognized as a leading capital markets lawyer by Chambers, Legal 500 and IFLR1000.

David joined Freshfields in 2015. He previously worked at Linklaters (in London and Hong Kong -- where he headed their US practice in Asia) and Davis Polk & Wardwell (New York). He has practiced for a decade in each of London and Hong Kong, prior to which he spent several years practicing in New York.  David clerked for Judge Francis Altimari on the U.S. Court of Appeals for the Second Circuit in New York. He received his J.D. from Cornell Law School (1993).

Derk Lemstra specializes in capital markets, securities, mergers & acquisitions and corporate governance. He was the managing partner of Stibbe from 2014 through 2019. Before that he was resident partner in the New York and London offices of Stibbe.

Derk acts on behalf of leading domestic and international clients, both listed and privately held. Over the years he has advised many companies on their listings and securities offerings.

He lectures at programs sponsored by various organizations such as the International Bar Association, American Bar Association and several universities.

Derk has a law degree from Leiden University and an LL.M from Columbia University in New York. He is the co-author of books and articles on securities law.

Diana Billik is a partner in the international capital markets department of Allen & Overy LLP, resident in the Paris office. Diana specializes in cross-border debt and equity offerings, involving capital raising in the U.S. market. She has deep experience advising issuers, arrangers and underwriters in relation to a broad range of debt, equity and liability management transactions by foreign private, sovereign and supranational issuers across Europe, the Middle East and Africa, including France, Sweden, Norway, Italy, Turkey, Greece, United Arab Emirates and West Africa. She advises on both SEC-exempt and SEC registered offerings into the United States and compliance with SEC reporting requirements for foreign issuers and security holders. Diana is admitted to practice in the State of New York and is a member of the Paris bar. 

Diana joined Allen & Overy in 1998 and became a partner in 2007.

G. Jeffrey Boujoukos is the leader of Morgan Lewis’s securities enforcement practice. The former regional director of the Philadelphia Regional Office of the US Securities and Exchange Commission (SEC), Jeff defends public companies, financial services clients, and their executives in SEC, self-regulatory organization (SRO), and state enforcement matters. Combining his government and private practice experience, Jeff advises clients in collaboration with Morgan Lewis’s securities, white collar defense, and investment management practices.

As regional director, Jeff supervised the SEC’s examination and enforcement programs in Pennsylvania, Delaware, Maryland, Virginia, West Virginia, and the District of Columbia. He led a staff of approximately 160 enforcement attorneys, accountants, investigators, and compliance examiners who investigated and enforced the federal securities laws and performed compliance inspections in the Philadelphia region with jurisdiction over nearly 1,200 investment advisers and investment companies with more than $10 trillion in assets under management. Further, he closely coordinated with state and federal criminal authorities on a number of parallel investigations.

Jeff also spearheaded the SEC’s outreach efforts to retail investors in the Philadelphia region, meeting with registrants, senior investors, college and high school students, and members of the military to promote financial literacy and help protect against fraud. In 2016, he was recognized by the SEC with the Arthur F. Matthews Award for his "sustained demonstrated creativity in applying federal securities laws for the benefit of investors."

Prior to being named regional director of the Philadelphia office, Jeff served as the office’s associate regional director from 2014 to 2016. In that role, he supervised the region’s enforcement efforts, including the investigation and litigation of matters involving insider trading, financial reporting and accounting fraud, investment advisors, broker-dealers, offering frauds, and Ponzi schemes. He began his tenure at the SEC in 2009 as regional trial counsel for the office, conducting jury trials and emergency hearings, as well as supervising the Trial Unit staff, in actions pending in federal court and administrative proceedings.

In his time as a partner at Morgan Lewis before joining the SEC, Jeff represented broker-dealers, clearing firms, investment advisers, mutual funds, and individuals regarding matters pending with the SEC in Washington, DC, and in its regional and district offices across the United States. Additionally, Jeff represented clients in connection with matters before SROs and state authorities such as the Attorney General offices of New York, New Jersey, and Ohio.

Jeff also has civil litigation experience in class action and other commercial matters. He has represented clients in shareholder and other class actions and complex litigation against corporations, directors, and officers. He has counseled clients in connection with failed transactions, closing balance sheet issues, and breaches of representations and warranties.  These representations have taken him to federal and state trial courts throughout the United States.

Jeff has litigated to award a number of multimillion-dollar arbitrations before Financial Industry Regulatory Authority (FINRA) and American Arbitration Association arbitration panels, including matters involving claims against brokerage firms for breach of fiduciary duty, breach of contract, negligence, and breach of the federal securities laws.

Jeff serves as an adjunct professor at Drexel University’s Thomas R. Kline School of Law.

John Vanosdall is a Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the U.S. Securities and Exchange Commission (the SEC or the Commission). He leads the activities of OCA’s accounting group, which includes understanding investor and other perspectives on accounting matters and consulting with public companies, auditors, and divisions and offices within the SEC on the application of accounting standards and financial disclosure requirements.  John also leads the accounting group in assisting to discharge the Commission’s oversight of the Financial Accounting Standards Board (FASB). 

Before joining the Commission, John was a Partner at PwC from 2014 to 2019, working in the National Office and the Deals practice. His responsibilities included providing clients and engagement teams with advice on complex accounting issues arising from business combinations, segments, disposal transactions, minority investments, fair value measurements, and revenue and compensation arrangements. 

John previously worked as a Professional Accounting Fellow in OCA at the SEC from 2012 to 2014.  During this time, he was responsible for providing views on interpretative matters to SEC registrants, actively monitoring and providing oversight comments to the FASB on current standard setting projects, and working on special projects within OCA. 

John earned an MBA and B.S. in Business Administration from Indiana University in Bloomington, IN.  He is a Certified Public Accountant in California.

Katherine Brody joined Silver Lake in 2014 and is a Director, Legal EMEA. Prior to joining Silver Lake, she was a corporate associate at the law firm Skadden, Arps, Slate, Meagher & Flom LLP in its London office, where she focused on cross-border mergers and acquisitions and other corporate transactions. Ms. Brody serves as a member of the British Private Equity and Venture Capital Association (BVCA)’s Global Capital Committee, and previously served on the board of directors of Global Blue.  Ms. Brody holds a B.S. from Tulane University and a J.D. from Georgetown University Law Center.

Lorenzo Corte has acted on a number of complex and/or contested takeover assignments and trans-Atlantic transactions, including:

  • Intel Corporation’s US$15.3 billion acquisition of Mobileye N.V.;
  • Konecranes’ proposed all-stock merger with Terex Corporation (NYSE) and its subsequent acquisition of a division of Terex;
  • VimpelCom’s (now VEON) US$30 billion exchange offer for OJSC VimpelCom and simultaneous business combination with CJSC Kiyvstar G.S.M.; and
  • Arcelor in the US$22.8 billion unsolicited bid by Mittal Steel Company NV and their subsequent US$33.8 billion merger.

Mr. Corte represents strategic investors in connection with cross-border acquisitions, sales of privately owned companies and assets, and joint ventures in Europe, the Middle East, Africa, the United States and the CIS region. He has completed transactions for, among others, Anheuser-Busch, Cinépolis, Danaher Corporation, Engen/Petronas, ExxonMobil Corporation, Kellogg Company, Moody’s Corporation, Mylan, NTT DoCoMo, Nomura, ST Microelectronics N.V., Valeant Pharmaceuticals International and Validus Holdings.

He regularly acts for financial sponsors on their investments and divestments in Europe, including Investindustrial, Silver Lake Partners, DH Private Equity, Ares Life Sciences (Mr. Bertarelli), Teseo Capital (Mr. Ferrero) and LetterOne, for which he has completed a number of transactions in the technology, energy and retail sectors.

Mr. Corte also heads Skadden’s Italian desk. His experience in M&A transactions representing Italian parties includes acting for Assicurazioni Generali S.p.A., Brembo S.p.A., Fabbrica Italiana Lapis ed Affini S.p.A., Gentium S.p.A., Luxottica Group S.p.A. and the Ministry of Treasury of the Republic of Italy.

Mr. Corte lectures and participates in seminars related to his practice and is an adjunct professor in M&A at Ohio State University School of Law. He is recommended as a leading individual in Chambers Global, Chambers Europe and Chambers UK, which cites sources describing Mr. Corte as “instrumental in devising some incredibly innovative structuring” and stating “I would bet the bank on him.”

Mark Francis is the FCA’s director of Wholesale and Unauthorised Business Investigations. Sitting within the enforcement division, Mark’s directorate conducts forensic investigations into regulatory breaches and criminal offences by firms and individuals operating in the wholesale arena, as well as those carrying on regulated activities without authorisation, in breach of the general prohibition. Typical cases include insider dealing, market manipulation, systems and controls failings, and consumer scams such as boiler rooms.

Mark joined the then FSA, in 2009 focusing on unauthorised business investigations and became Head of the Unauthorised Business Department in 2013. He led some of the department’s largest cases dealing with many types of unauthorised investment schemes. Mark moved to Wholesale Enforcement in 2016 where he worked on a variety of enforcement investigations including insider dealing, market abuse and misconduct in wholesale firms. Mark became director of Wholesale and Unauthorised Business Investigations in 2018. Mark is a qualified accountant and spent 12 years in practice at BDO LLP before joining the regulator. During his career in practice he specialised in forensic financial investigations particularly providing investigative and asset management expertise to a range public and private sector clients.

Martin Parkes, Managing Director, is a member of BlackRock's Global Public Policy Group based in London. Martin is responsible for  engaging  with policy makers and BlackRock's clients on policy and regulation relating to investor protection and distribution, retirement and fund structures in the EU and the UK. He participates in a number of regulatory expert groups: he is currently a member of the AMF’s Consultative Commission on Post Market issues and was previously a  member of ESMA's Investor Protection and Intermediaries Standing Committee's Consultative Working Group. He chairs the Investment Association’s International and European Policy Committee and regularly contributes to the work of other asset management trade bodies such as EFAMA, ICMA, ALFI and Irish Funds and ICI Global.

He is also a committee member of BlackRock's LGBT OUT & Allies network, particularly supporting the network on external events and outreach with other firms and networks.

Martin has worked at BlackRock since 2004 and prior to joining the Public Policy team in 2011 he worked in BlackRock's legal team responsible for BlackRock's European-managed investment funds. Martin  studied European Law at the University of Exeter and at the Universite d'Aix-Marseille III and is a qualified solicitor in England and Wales.

Mary Tokar was appointed to the International Accounting Standards Board (Board) in January 2013 and was reappointed for a second term in July 2017. Prior to joining the Board, Ms Tokar served as the global leader for KPMG’s International Financial Reporting Group, responsible for KPMG’s dialogue with global accounting regulators and standard-setters. 

At KPMG, Ms Tokar worked with engagement teams and clients in developed and emerging economies on their transition to and application of IFRS Standards. She served as a member of the IFRS Interpretations Committee from 2001 to 2007 and was a KPMG global leader for employee benefit and share-based payment accounting.

Previously, Ms Tokar worked at the US Securities and Exchange Commission (SEC) as the international senior associate chief accountant. Ms Tokar was the lead SEC representative for international accounting issues; she also chaired an international committee of securities regulators working on disclosure and accounting issues for the International Organization of Securities Commissions (IOSCO).

Ms Tokar holds an MBA from New York University’s Stern School of Business, US.

Michael Dakin, a high yield specialist, has been a partner at Clifford Chance since 2005 and leads the firm's global high yield practice.  Michael has extensive experience advising private equity sponsors, issuers and underwriters on high yield debt and leveraged finance transactions in Europe, the United States and Asia.

Michael a member of the Board of Director of the AFME High Yield Division and formerly acted as its Vice-Chairman and sat on the group's Executive Committee and was involved in many of the policy and market related initiatives of the AFME High Yield Division. Michael Also sits on the International Advisory Board of Tufts University and is a member of the Board of Directors of Community Dental of Maine, a non-provide oral health organization.

In addition to primary issuance high yield and leveraged finance lending, Michael advises clients in a number of the other areas, including initial public offerings, especially those involving in private equity client portfolio companies, high yield related restructurings and general debt offering.

Prominent transactions on which he has advised in the last 12 months include, among other transactions, advising Cinven and Synlab on a multifaceted refinancing, one of the first significant post-pandemic financings, as well as related transaction, the banks in connection with GetLink refinancing of its green bonds which were issued under an EMTN structure with high yield style covenants and the banks in connection with the issuance of high yield notes by El Corte Ingles, a bell-weather high yield issuance in the Spanish market.

Nicola Higgs is a partner in the London office of Latham & Watkins. Ms. Higgs specializes in financial services regulatory advice and has vast experience advising financial institutions and market infrastructure providers on a wide range of complex domestic and cross-border regulatory issues.

Ms. Higgs advises global investment banks, corporate finance houses, fund managers, insurers, stockbrokers, market infrastructure, and data services providers on a variety of legal and regulatory risk management matters, with particular expertise in the FCA’s Conduct of Business Rules, European regulatory developments, such as MiFID II, PRIIPs KID Regulation, and the EU Benchmark Regulation, and contested enforcement actions.

Ms. Higgs has developed a formidable reputation advising global investment firms on the sale of complex derivative products to professional and retail investors, including cross-border issues.

Ms. Higgs also has a strong track record in advising private banks and wealth managers on their regulatory obligations.

Pawel Szaja is a partner in the Capital Markets practice. He is based in the London office and has a broad area of expertise covering EMEA Capital Markets.

Pawel advises corporates, private equity funds and underwriters in Europe, the Middle East and Africa on complex cross-border equity and debt capital markets, M&A and private equity transactions as well as securities law, corporate governance and ongoing reporting matters. His practice covers several areas of international corporate finance and capital markets transactions, including SEC-registered equity and debt offerings, IPOs, privatisations, debt offerings, public and private M&A transactions and private equity investments, including in emerging markets. Pawel has gained his experience working in the New York, Frankfurt and London offices of premier US and UK law firms.

Pawel is a member of the Fintech Foundry programme at Shearman & Sterling.

Pawel contributed to Global Legal Insights: Initial Public Offerings (2017, 2018, 2019, 2020 and 2021), published by Global Legal Group ltd, London, by authoring the chapter on UK capital markets. The guide covers the key steps, legal issues and market practices involved in the initial public offering process by examining practices in jurisdictions around the world.

Pawel is cited by leading legal directories Chambers UK 2021 and Legal 500 UK 2021 and recognised as a “rising star” by IFLR1000 and “Next Generation Partner” by Legal 500 UK 2021. Pawel has been listed in the 2020 edition of the The Lawyer’s “Hot 100” which lists the most daring, innovative and creative lawyers.

Rob Evans is Co-Chair of Locke Lord’s Capital Markets Group. He has extensive experience representing issuers and underwriters in public and private offerings of securities.

Formerly a partner at Shearman & Sterling LLP for more than two decades in the firm’s capital markets practice, Rob was Chief of the Office of International Corporate Finance in the SEC's Division of Corporation Finance.

A frequent speaker and writer on securities law, compliance and legal ethics, Rob is a member of the American Law Institute and the American Bar Association. He also serves on the Advisory Board of the Johns Hopkins Department of Psychiatry and Behavioral Sciences. Rob is a frequent contributor to the Locke Lord Capital Markets blog:

Representative Experience

  • Advising on interpretation of SEC rules and rulemaking
  • Offerings of convertible securities and high yield debt securities
  • Initial public offerings
  • Development of new corporate finance products
  • Investment grade debt offerings as designated underwriters’ counsel
  • SEC and general corporate advice

Professional Affiliations and Recognitions

  • Member, American Bar Association
  • Member, American Law Institute
  • Member, New York State Bar Association
  • Member of 2021 Law360 Capital Markets Advisory Board

Publications and Presentations

  • Underwriters Do Not Use Green Shoe Options to Profit from IPO Stock Pops - HLS Forum on Corporate Governance, Feb. 26, 2021
  • Taught Ethics for Corporate and Securities Lawyers as an adjunct at the University of Pennsylvania Carey Law School in 2019 and 2020
  • Editor, Ethics Corner Column, Business Law Today (2013-2017)
  • Practising Law Institute – regular panelist on Securities Regulation (2-3 times per year typically)
  • Practising Law Institute and New York State Bar Association seminars on Legal Ethics
  • SIFMA Annual Compliance and Legal Seminar – Panelist on Compliance Issues in Investment Banking
  • American Bar Association – Business Law Section – Annual Meeting September 2015 – Current Issues Impacting Indenture Trustees – Panelist
  • Working Group on Legal Opinions – Led Panel on Opinions in Securities Offerings (twice), taught at Bootcamp for Opinion Committee members


Sadia Salam is an Executive Coach, Inclusion Facilitator and Speaker. Sadia empowers and champions Women and Black and Minority Ethnic leadership. Sadia is passionate about helping women with great careers who are silently battling with their internal negative voice or feeling stuck or unfulfilled. Sadia also helps organisations create an inclusive culture as the key to attracting and retaining diverse talent. Prior to setting up her coaching business, Sadia spent over 20 years as a corporate lawyer, both as a City lawyer and Head of Legal of a global management consultancy. Sadia lives in London with her husband and two children.

Sarah Lewis’ practice focuses on corporate transactions with a particular focus on U.S. securities laws. She regularly works on transactions involving financial and technology services companies and advises clients on regulatory aspects associated with FinTech initiatives, particularly in relation to the treatment of cryptoassets under relevant U.S. and UK securities law.

Sarah is a member of the FMLC FinTech Scoping Forum and a member of the FMLC’s working group on ICOs.

Sarah joined the firm in 2004 and became counsel in 2013. She was resident in the Washington, D.C., office until January 2007.

Vanessa Blackmore is a partner of Sullivan & Cromwell in their London office, having joined in 2006. She has a broad-based international corporate and finance practice, advising clients on a wide range of strategic transactional and advisory matters including on international debt, equity and equity-linked financings, debt advisory and liability management, mergers and acquisitions, joint ventures, corporate reorganisations, financial restructurings as well as on corporate governance and compliance issues. She has considerable experience in complex capital markets matters, cross-border transactions and on working on bespoke and innovative solutions.

Vanessa has over 30 year’s experience in capital markets with extensive debt, equity-linked and equity capital markets experience, advising at all levels of the capital structure and for a variety of clients.

Vanessa has been repeatedly been named as one of IFLR 1000’s Women Leaders - an elite cohort of leading female transactional experts in local markets globally. She is recognised as one of the “50 Most Influential Women in the Law” by Legal Business magazine, as a “leading practitioner in the capital markets field” by Euromoney’s Women in Business Law Expert Guide, and was honored as “Outstanding Practitioner of the Year” by Euromoney, Women in Business Law Awards: Best in Debt, Best in Equity, among other notable guides to the legal profession. She is recommended as a leading lawyer for capital markets in consecutive recent editions of Chambers Global, Chambers Europe, Chambers UK and The Legal 500 United Kingdom, as well as for M&A and capital markets (equity) in IFLR1000. She is a contributing editor to Tolley’s, International Financial Law Review and to Capital Markets Law Journal and is a visiting fellow and an external examiner for the LLM in International Finance at King’s College, University of London.

A former senior federal prosecutor with over a decade of experience at the U.S. Department of Justice and the UK’s Serious Fraud Office and Financial Conduct Authority, Albert (BJ) advises companies and individuals on investigations, litigation, and compliance issues related to the Foreign Corrupt Practices Act, securities fraud and market manipulation, and other complex and cross-border conduct.

Having led and supervised investigations and prosecutions of a wide variety of federal criminal offenses by individuals and corporations – including securities fraud, money laundering, and violations of the Foreign Corrupt Practices Act – Albert (BJ) Stieglitz offers clients a deep understanding of cross-border economic crime and domestic and international corporate criminal enforcement.

As the acting principal deputy chief of the U.S. Department of Justice’s Criminal Fraud Section, BJ oversaw the work of the Fraud Section’s Foreign Corrupt Practices Act, Market Integrity and Major Frauds, and Health Care Fraud units, managed interagency relationships with enforcement partners including the SEC and the FBI, and participated in the implementation of key aspects of DOJ corporate criminal enforcement policy.

BJ has tried multiple federal criminal cases to verdict, and also served as the first-ever DOJ prosecutor detailed to both the UK’s Serious Fraud Office (SFO) and Financial Conduct Authority (FCA), working side by side with SFO and FCA personnel investigating complex fraud, market abuse, and other violations of UK law. He played a leading role in obtaining the SFO’s deferred prosecution agreements with two large UK government contractors.

Before joining the DOJ, BJ was a member of U.S. Senate leadership staff, worked for a global audit, tax, and consulting firm, and clerked for the Hon. John G. Heyburn II of the U.S. District Court for the Western District of Kentucky.

Alan Brener is a Lecturer (Teaching) at University College London’s Laws Faculty and he is also Deputy Director of the Faculty’s Centre for Ethics and Law.

Besides his LLM from UCL and PhD from Queen Mary University London he is also a qualified Chartered Accountant and member of the Institute of Chartered Accountants in England and Wales.

Prior to starting his PhD Alan worked for Santander UK and was responsible, at different times, for the compliance and retail legal departments and regulatory policy.

Before joining Santander in 2005, from 1996, he headed the compliance departments for the retail banking divisions of Natwest and RBS banks. From 1989 to 1996 Alan was a senior prudential and conduct of business regulator for the insurance and collective investments sectors having previously worked on aspects of public policy at the Department of Trade and Industry.

Most recently, prior to starting his PhD, Alan was on secondment from Santander helping to set up the Banking Standards Board with the objective of improving standards of conduct and professionalism within the banking industry.

Alan has recently published his second book on compliance in financial services following on from his earlier book on financial stability and housing policy.

Alexis has been Sustainable Finance Coordinator for Capital Markets EMEA at BNP Paribas CIB since 2018 and has been involved in the structuring of a number of landmark SF transactions in the EMEA region.

He has more than 20 years of experience in banking at BNP Paribas CIB, prior to sustainable finance mostly in leverage and acquisition finance, in management, origination and syndicate positions .

He is a graduate in International Finance from Sciences Po Paris, holds an engineering degree in fluid mechanics and energetics and completed the Bank’s certified training program of the Institute for Sustainability Leadership at University of Cambridge.

Anna is an Executive Director and Senior Legal Director at Goldman Sachs in the EMEA IBD Legal team. Previously she was a lawyer for the Goldman Sachs’ independent research division based in the New York and then most recently in London with a focus on the EMEA and Asia Pacific research businesses. She joined Goldman Sachs in London 12 years ago in the EMEA IBD Legal team.


Christos is Managing Director and Senior Counsel in the Legal Department and heads the Equities Sales and Trading Legal Group in EMEA. He also has legal oversight of Global Investment Research in EMEA. He serves as counsel to the EMEA Securities Division Best Execution Committee and its subcommittees as well as to the EMEA Automated Trading Controls Committee. Christos joined Goldman Sachs in 2009 and became senior counsel in 2011. He was named managing director in 2015.

Prior to joining the firm, Christos was a financial regulation lawyer at Clifford Chance for five years. Before that, he was a junior research fellow at the University of Bristol.

Christos is a member of the Law Society of England and Wales and is a solicitor of the Supreme Court of England and Wales. He is also a trustee of the Foundation Trust of St Martin-in-the-Fields and a council member of the Institute of Classical Studies.

Christos earned a PhD from the University of Cambridge in 2001. He also earned an MPhil from the University of Cambridge in 1998 and a BA, with honors, from Aristotle University of Thessaloniki in 1996. Christos earned a Graduate Diploma in Law and completed a Legal Practice Course at BPP University Law School in 2003 and 2004, respectively.

Deborah is an executive director / senior counsel in the legal department to the Investment Banking Division at Goldman Sachs International. She also serves as co-chair of the firm’s EMEA Pro Bono Committee and is a founder of the In House Pro Bono Group. Deborah joined Goldman Sachs in 2012. Prior to joining the firm, Deborah worked as a US Associate / Counsel at Linklaters, having worked in their Paris, Dubai and London offices. Deborah earned a BA in Political Science from Dartmouth College in 1995 and a JD from New York University School of Law in 2000.

Diane Hart is a legal counsel at the Bank of England. She works in the Financial Stability Division, advising on the Bank's macroprudential, resolution and FMI policy and supervisory functions.

Ms. Hart advises the supervision team which regulates CCPs, payment systems and securities settlement systems on the Bank's powers and responsibilities under UK and on-shored EU legislation and advises on the development of policy in respect of the regulation of FMIs, working closely with government departments and other external bodies.

She also advises on the Financial Policy Committee’s decision-making, exercise of its powers and the development of policy.

Previously, Ms. Hart worked in the Bank’s Enforcement and Litigation Division, which leads on intelligence, investigations, contentious matters and litigation handling.

Dual-qualified and licensed to practise law in England & Wales and Germany, Eva has been a General Counsel in a broad variety of industries around the world and has held senior executive and non-executive positions in global corporations such as Royal Mail, Coca-Cola Enterprises and BP.

Beyond the traditional remit of the General Counsel, Eva has also had leading roles in crisis management, compliance, enterprise risk management, strategy development and ESG.

Most recently, Eva has been involved in a start-up investment company with a particular focus on ESG and has since set up her own consultancy business. Eva currently also serves as a non-executive director on the Board of BP Europa SE and is a Board Trustee of the charity “Power of Zero”, a UNICEF and UNESCO backed global campaign to teach young children the skills and values they need for a connected world.

Eva’s key skill lies in enabling organisations and business people to successfully navigate the vagaries and dynamics of corporate relationships, be they interpersonal, commercial, financial, organisational, or political.

Eva has a law degree from Heidelberg University, an LL.M. in European and International Economic Law from the University of Edinburgh and is an ICF certified executive coach.

She lives outside London with her husband and three grown up children. In her free time, Eva enjoys sailing, hiking and photography.

Gabriel Callsen is a Director within ICMA’s Market Practice and Regulatory Policy department, leading ICMA’s work on FinTech in the international debt capital markets. He acts as secretary to ICMA’s FinTech Advisory Committee and represents ICMA in international forums in relation to distributed ledger technology, focusing on technological innovation in the securities lifecycle. He is also responsible for ICMA’s Common Domain Model (CDM) project for repo and bonds.

Gabriel’s background is in Economics and International Relations, and he has previously worked for the European Commission and Tradeweb.

Ijeoma is a finance, securities and regulatory lawyer with extensive experience advising global banks and corporate clients in the US, Europe, Central Asia and Africa.  

Ijeoma is a co-Director of The Digital Economy Institute, a digital currency think tank, and Limited Partner of Impact X Capital Partners, an ESG focused venture capital fund. Until recently, she was Executive Director and Digital Currency Risk Management Lead at JPMorgan focused on developing the firm’s digital currency risk management framework and advising on crypto related business proposals. She was also the Co-chair of JPMorgan’s EMEA Black Leadership Forum which advised the business on the recruitment, retention and advancement of Black employees, and a member of the Board of Directors of Aldermanbury Investments Limited, a JPMorgan subsidiary. Ijeoma sits on the Global Advisory Board of the Women in Law Empowerment Forum, an organization focused on promoting female lawyers into the most senior leadership positions in global law firms, and has been a judge for the 2019, 2020 and 2021 Power List of Britain’s Most Influential People of African, African Caribbean and African American heritage. She was listed on the 2020 FTSE Board Report’s 100 Women to Watch list, was named Investment Woman of the Year at the 2020 Woman in Investment Awards and won the Outstanding Contribution of the Year Award at the 2021 Women in Finance Awards.

Ijeoma holds a B.A. and M.P.A. from New York University and a J.D. from Cornell University.

Jake is the Financial Regulatory Practice Group Global Co-Head at Ashurst LLP. Jake specialises in financial regulation and regularly advises financial institutions in relation to a wide range of regulatory and compliance issues. He has particular expertise in matters relating to Brexit, MiFID, regulatory governance, buy side regulation, FCA conduct of business requirements and online FX and CFD trading. Jake works with clients in relation to their day-to-day regulatory matters, material regulatory change projects and regulatory investigations (with a focus on market conduct and financial crime, client assets and governance).

Julia is a partner in White & Case’s London office specializing in financial regulation. She has extensive experience advising stakeholders in a number of key banking and markets regulatory areas, including Brexit-related issues, EMIR, derivatives clearing, CCP rulebook, governance and financial market infrastructure matters, recovery and resolution, MiFID II/MiFIR, benchmarks, regulatory capital, sustainable finance, accountability and operational resilience regimes, FinTech, payments and consumer credit.

Julia has also worked in Paris, Zürich and Singapore, in addition to London, as a transactional lawyer. During her career, she has advised on wholesale and retail banking and markets regulatory issues and worked on derivatives, banking, capital markets and structured finance transactions and securitisations at several large US and Swiss investment banks and international law firms. Her in-house regulatory experience encompasses the full range of advocacy, analysis, interpretation and application through to advice on implementation of and compliance with banking and markets regulation.

Bars and Courts

England and Wales


MA, University of Oxford, Classics and Modern Languages






Mark S. Bergman is a London-based partner of Paul, Weiss, Rifkind, Wharton & Garrison LLP.

Mark has extensive experience in corporate finance transactions in which U.S. and non-U.S. issuers access the equity (ECM) and debt (DCM) capital markets. He has handled issuer and underwriter representations since the early 1980s, was instrumental in establishing the Securities and Capital Markets Group at Paul, Weiss in the early 1990s and began focusing on cross-border capital markets transactions in the mid-1990s. He headed the Global Securities and Capital Markets Group until August 2020. 

Mark has handled the full range of ECM mandates, including initial public offerings, rights issues/open offers and other forms of follow-on offerings, exchange offers, privatizations, spin-offs/demergers, accelerated book-builds and the establishment of ADR programs, and the full range of DCM mandates, including EMTN programs, Yankee bond offerings and high yield debt offerings.  Mark has extensive experience representing financial institutions in connection with offerings of perpetual and dated hybrid securities for regulatory capital purposes.  He has significant experience with SEC-registered offerings, and he has handled Rule 144A offerings since the exemption was promulgated in April 1990, having been among the first to convert a public template to a Rule 144A template within weeks of the effectiveness of the exemption. 

Mark advises  on cross-border tender offers, exchange offers and going private transactions involving listed companies in the United States as well as other companies with significant levels of U.S. shareholders.  Mark also advises listed companies and significant shareholders on reporting and other obligations under the securities laws, the establishment of corporate compliance programs, and compliance with corporate governance standards under the securities laws and stock exchange rules.  He has advised companies in connection with SEC and other U.S. regulatory investigations, and stock exchange proceedings.  He also consults frequently on regulatory matters relating to broker-dealer registration, and investment company and investment adviser issues.

Mark is a frequent contributor to professional journals and other publications, and one of the principal authors of the firm’s alerts on securities law topics.  Mark regularly serves as a panelist at conferences and in-house seminars on a range of capital markets, financial reporting, corporate governance, corporate compliance and other securities law topics.  He is one of the firm's two principal points of contact on Brexit and EU/UK regulatory matters, and one of the founding members of the firm’s ESG practice group.

Michael Coletta has been focused on Blockchain technology in the financial market infrastructure space for over 3 years. In late 2017, he joined London Stock Exchange Group’s (LSEG) Emerging Technology team to lead the group’s technology strategy for adopting Blockchain across LSEG’s capital markets and financial market infrastructure businesses.  Michael also represents LSEG in the European Commission’s Expert Group on Regulatory Hurdles to FinTech Innovation.   In his previous role at CME Group, he was involved in cryptocurrency futures and also worked on other Blockchain related PoCs focused on post-trade settlement and collateral management.   Prior focusing efforts on Blockchain, he spent 10 years working on software development and architecture derivatives clearing and building next generation risk management tools for the CME Clearing House.  

Paul has extensive experience fostering high-quality reporting in the capital markets from his various leadership roles both inside and outside of EY.  Paul can leverage his extensive experience as a standard setter and regulator to help clients and engagement teams produce high-quality financial statements for the use of investors in the capital markets.  As the EY Americas IFRS leader, Paul facilitates greater connectivity amongst clients and engagements across the Americas. Previously, Paul spent seven years at the US Securities and Exchange Commission and two years as a fellow of the Financial Accounting Standards Board.

Susan L. Saltzstein is co-deputy of Skadden’s nationwide Securities Litigation Group. Her sophisticated litigation practice focuses on the representation of U.S. and global financial institutions, corporations and individual clients embroiled in complex securities, corporate and commercial litigation in federal and state courts. Ms. Saltzstein’s experience extends to class and derivative actions, investigations and corporate control contests. Bet-the-company litigation is one of the mainstays of her renowned practice.

She has represented, among others: J.P. Morgan Chase in connection with a number of foreign exchange-related purported class action litigations and in its defense of its ERISA plan; Citigroup Inc. as part of the 17-member underwriting syndicate of Santander Consumer USA Holdings Inc.’s IPO in two securities class actions, as well as in connection with litigation related to its student loan business; Anadarko Petroleum Corporation in connection with securities and derivative litigation arising out of its operations; Booz Allen Hamilton, Inc., in securities and derivative litigation arising out of a government investigation; Footlocker Inc. in its successful defense of a securities class action; Nokia Corporation in its defense against securities litigation; Inovalon Holdings, Inc. in connection with securities and derivative litigation arising from its IPO; Covisint Corporation and Compuware Corporation in connection with securities class action litigation involving the spin-off of Covisint Corporation; UniCredit S.p.A. in its defense of multibillion-dollar, precedent-setting Bernie Madoff-related litigations; the former CEO of Bear Stearns Companies, Inc. in connection with the defense of securities class and derivative actions and arbitrations; Cheniere Energy Inc. in its successful defense of challenges to its shareholder vote and related issuance of shares as incentive compensation; and Nortel Networks S.A. in securing a favorable settlement regarding the allocation of $7.3 billion of asset-sale proceeds in the Nortel bankruptcy cases.

Ms. Saltzstein led the Skadden team that was honored, among other firms, for its Nortel- related legal work by The American Lawyer as the Grand Prize Winner for Disputes. Ms. Saltzstein is leading the defense of Netshoes in a matter that produced the first substantive dismissal of a securities class action complaint in a New York state court.

The American Lawyer named Ms. Saltzstein and her partner Marco Schnabl as Litigators of the Week for their work on behalf of UniCredit S.p.A. in connection with Madoff-related matters, which also was named among the top matters in the Litigation & Dispute Resolution category in the Financial Times’ 2013 U.S. Innovative Lawyers report. In January 2014, Ms. Saltzstein was profiled in an article in The American Lawyer, which named the firm as a finalist for 2018 Litigation Department of the Year.

She regularly counsels clients on a wide range of strategic litigation and corporate governance matters, has extensive experience leading internal corporate investigations, actively defends board members in litigation, and represents clients in SEC and Financial Crisis Inquiry Commission matters.

Ms. Saltzstein has extensive experience providing litigation advice to and representing members of public company boards of directors in litigation. She has advised clients on litigation-avoidance strategy and routinely consults clients concerning litigation-related corporate governance and disclosure issues. In this regard, she has participated in the successful representation of clients involved in diverse businesses such as financial services, telecommunications, health care, investment banking, hedge funds, private equity and retail.

In 2011, Ms. Saltzstein was asked by a federal district court judge to serve on the Attorneys’ Advisory Committee of the Southern District of New York, a committee providing assistance to members of the judiciary serving on the Judicial Improvements Committee. In this role, Ms. Saltzstein co-chaired the Motions Committee and helped draft new procedure rules that have been implemented by district court judges in a pilot program directed at complex commercial disputes. Ms. Saltzstein has served as co-chair for numerous American Bar Association organizations and events, including the Section of Litigation Annual Conference (2010), the Litigation Institute for Trial Training (2011) and the ABA’s Expert Committee (2017), as well as having served for three years as co-chair of the Securities Litigation Committee. Ms. Saltzstein is currently the co-chair of the ABA’s Class and Derivative Action Committee.

Ms. Saltzstein was one of only two women securities litigators ranked by Chambers USA 2019 in its top bands and has been featured by Securities Law360 as one of its Outstanding Women lawyers. She also was selected by Lawdragon as one of 500 Leading Lawyers in America and has been named to The Best Lawyers in America.


Tom is a London-based US securities partner and Head of the US Securities Group at Herbert Smith Freehills.

Tom's practice focuses on corporate finance and securities offerings, including the representation of underwriters, issuers, sponsors and other sellers on cross border (SEC registered and Rule 144A) equity and debt offerings. He also provides corporate governance and compliance advice to foreign private issuers with securities registered with the SEC and listed on US stock exchanges. 

Tom has worked across a broad range of capital markets products including in the equity (IPOs, secondary issues, block trades and convertible bonds) and debt (high grade and high yield) capital markets as well as public mergers and acquisitions and M&A financings.

Tom has been based in Paris and London for over 20 years and speaks English and French.

John Cannon is a partner in the Compensation, Governance and ERISA Group and Co-Chair of the firm’s Corporate Governance Advisory Group.  In his practice, he focuses on all aspects of compensation and benefits, including corporate, securities, bankruptcy, employment and tax laws and ERISA.  He has extensive experience in executive compensation and corporate governance matters, Dodd-Frank and Sarbanes-Oxley, and the employee issues raised in the mergers and acquisitions context.  He also has experience advising startup companies in the biotechnology sector regarding corporate and compensation matters.   John joined the firm in 1985 and became a partner in 1994.

John currently serves on the Advisory Committee for the Salzburg Global Forum on Corporate Governance, is an Inaugural Fellow for the American College of Governance Counsel and is an Advisor to the American Law Institute’s Restatement of the Law, Corporate Governance project.  He frequently lectures at law schools, including the University of Arizona, Penn, Harvard and the University of Colorado.

John graduated from Harvard and New York University School of Law.

John W. White is a partner in Cravath, Swaine & Moore LLP's Corporate Department and serves as Chair of its Corporate Governance and Board Advisory practice. From 2006 through 2008, he served as Director of the Division of Corporation Finance at the U.S. Securities and Exchange Commission, which oversees disclosure and reporting by public companies in the United States. During his over 25 years as a partner at Cravath, John has focused his practice on representing public companies on a wide variety of matters including, more recently, public reporting and disclosure obligations, corporate governance matters and restatements, revisions and other financial crises.

John is a member of the Financial Accounting Standards Advisory Council (FASAC), which advises the Financial Accounting Standards Board (FASB). From 2010 to 2018, he served as a member of the Standing Advisory Group (SAG), which advises the Public Company Accounting Oversight Board (PCAOB). John is a member of the Board of Directors of Financial Executives International (FEI) and a member of the Board of Trustees and Chair of the Audit Committee of the Practising Law Institute (PLI). He served three years on the New York Stock Exchange’s Legal Advisory Committee, four years as Chairman of the Securities Regulation Institute, five years as Co-chair of PLI’s Annual Institute on Securities Regulation and six years on the Board of Trustees and Audit Committee of the SEC Historical Society. John was twice selected by the National Association of Corporate Directors (NACD) as one of the 100 “most influential people in the boardroom and corporate governance community.”


Cecil Quillen is a London-based U.S. partner of Linklaters LLP, and is the leader of the Firm’s global U.S. securities practice.  He works on a broad spectrum of securities and finance matters, with a special emphasis on cross-border offerings of debt and equity securities, particularly emerging-markets, investment-grade and high-yield/covenant-intensive debt securities, and is also actively involved in U.S.-related aspects of the Firm’s structured finance practice.  Cecil regularly speaks at a variety of professional conferences, is an officer of the Securities Law Committee of the International Bar Association and chairs its Regulatory Affairs Subcommittee, sits on the Advisory Committee for Securities Regulation in Europe of the Practising Law Institute and served from 2005 until 2016 as a member of the board of directors of the High Yield Division of the Association for Financial Markets in Europe (formerly the European High Yield Association).

Cecil is also a member of the board of directors of Bank of Georgia Group PLC, the London-premium-listed/FTSE-250-constituent holding company for the largest commercial bank in Georgia. He is a trustee of the University of Virginia Law School Foundation and UK Friends of Harvard University.

Cecil became a partner of Linklaters in 1996 and was resident in the Firm’s New York office before transferring to the London office in 2000.  He was educated at Harvard (A.B., 1985) and the University of Virginia (J.D., 1988), clerked for Hon. John D. Butzner, Senior Circuit Judge, U.S. Court of Appeals, Fourth Circuit, and practiced for a number of years at a large New York-based law firm, before joining Linklaters.  He is admitted to practice in New York and the District of Columbia.

Justin Weitz is Principal Assistant Chief in the Market Integrity and Major Frauds Unit of the U.S. Department of Justice’s Criminal Division, Fraud Section, where he works on complex criminal investigations and prosecutions related to financial markets and securities law violations. He previously served as a Trial Attorney in the Public Integrity Section of the Department of Justice. Mr. Weitz began his legal career as a law clerk for the Honorable R. Barclay Surrick on the U.S. District Court for the Eastern District of Pennsylvania. He received his B.A. in History and Government from Cornell University and J.D. from New York University School of Law. 

Sebastian R. Sperber is a partner at Cleary Gottlieb Steen & Hamilton LLP based in the London office. Sebastian’s practice focuses on international capital markets transactions and merger and acquisition transactions. He regularly counsels companies on compliance with U.S. securities law requirements and related corporate governance matters.

Sebastian has devoted a substantial amount of time to working on global equity offerings, including privatization transactions in several countries. Sebastian’s M&A experience includes both public and private transactions in various industries in Europe and Asia. His practice also includes derivative products, and he has assisted a number of clients in structuring OTC and listed instruments.

Sebastian has been recognized by Chambers Global, Chambers UK, The Legal 500 UK and IFLR 1000: The Guide to the World’s Leading Financial Law Firms for his work in the debt and equity capital markets, and by IFLR 1000: The Guide to the World’s Leading Financial Law Firms in the M&A category.

Sebastian is widely published on topics in the capital markets, and frequently speaks on such topics at professional conferences. Publications co-authored by him include the firm’s treatise on U.S. Regulation of the International Securities and Derivatives Markets and The Sarbanes-Oxley Act: Analysis and Practice (2003).

Sebastian received a J.D. in 1988 from Columbia Law School, where he was a Harlan Fiske Stone Scholar and Editor-in-Chief of the Columbia Journal of Transnational Law, and a Bachelor of Arts, cum laude, in 1985 from Columbia College.

Sebastian joined the firm in its New York office in 1988 and became a partner in 1997. From 1990 to 2000 (except for a stint in Hong Kong in 1998), he was resident in the London office. He spent 2001 to early 2004 in Hong Kong and then returned to London. He is a member of the Bar in New York.

Adam is a Managing Director of Morgan Stanley and is Chief Risk Officer of the firm’s Global Capital Markets business in EMEA, based in London. Adam joined Morgan Stanley in 2010, working in Equity Capital Markets. In his current role, among other responsibilities, he chairs Morgan Stanley’s EMEA Equity Underwriting Committee and oversees the Capital Markets Execution and Transaction Management teams across equity and debt products in the region. Adam also represents the firm on Capital Markets boards and committees of industry organisations in EMEA, including the Association for Financial Markets in Europe and the International Capital Markets Association. Before joining Morgan Stanley, Adam was a corporate lawyer at Linklaters LLP in London. Adam holds a Bachelor of Law degree from the University of Exeter.

Sachin (Sach) is a U.S.-qualified partner in the international capital markets department of Allen & Overy in London. Sach specialises in advising foreign governments, issuers and investment banks in connection with international debt and equity offerings, including Rule 144A, Regulation S and other private placement transactions as well as U.S. SEC- registered offerings. Sach is an active member of our EMEA practice and has played a key role in a large number of equity and debt transactions within developed and emerging markets in the region.

Sach has been ranked as a leading individual for emerging markets and a noted lawyer for debt capital markets in the latest edition of Legal 500 as part of A&O’s tier 1 teams in debt capital markets and emerging markets, a highly regarded lawyer in IFLR 1000 and has been ranked by Chambers for his capital markets work in Turkey. Sach worked in New York for eight years before joining Allen & Overy in 2008 and has been a partner since 2011.

Professional qualifications

  • Admitted to the bar, State of New York, USA, 2000
  • Admitted as barrister and solicitor, Ontario, Canada, 2000
  • Registered foreign lawyer, England and Wales, 2011

Academic qualifications
BA, Economics
LLB (Hons), University of Toronto, 1998
MBA, University of Toronto, 1998