Insights
IRS Issues 45Z Tax Credit Notice and DOE Updates 45ZCF-GREET Model
The Growth Rocketship: Brave Capital, Defense Tech, Decisive Technologies
SEC Proposes Modernizing Transfer Agent Infrastructure, Including Framework for Tokenized Securities
Resource
The Latham US IPO Guide
An insider's guide to the IPO process in the United States.
Latham in Focus Video Series
The Book of Jargon Series – Word of the Day®
The Book of Jargon® is a series of practice area and industry-specific glossaries published by Latham & Watkins.
Leaching
a movement of water that removes nutrients from soil. Rainfall or surface water runoff dissolves soluble matter in Landfills, and can contaminate the surrounding environment.
Bullet Maturity
when the entire principal of a Bond or Term Loan is due and payable on the Maturity Date (i.e., there is no Amortization prior to maturity).
Special Purpose Vehicle (SPV)
an entity created for a specific purpose, as opposed to a general operating entity. Can be (but isn’t always) a Bankruptcy Remote Vehicle, used for acquiring specific assets.
Unitranche
a type of debt that combines Senior Debt and Subordinated Debt into one instrument in order to simplify the debt structure and accelerate the acquisition process. The Borrower would typically pay a blended Interest Rate falling between the rates which would have been applicable for Senior Debt and Subordinated Debt.
Obligor
The collective name for Borrowers and Guarantors.
In each episode of Connected With Latham, we discuss ideas, developments, and trends shaping the global economy.
IRS Issues 45Z Tax Credit Notice and DOE Updates 45ZCF-GREET Model
New IRS guidance and updated modeling reshape Section 45Z eligibility, emissions calculations, feedstock rules, and compliance obligations for clean fuel producers.
SEC Proposes Modernizing Transfer Agent Infrastructure, Including Framework for Tokenized Securities
The proposed amendments would strengthen existing transfer agent compliance, risk management, and safeguarding standards; permit the use of distributed ledger technology for recordkeeping; and introduce certain new gatekeeper obligations.
US Banking Regulators Finalize Rule on Material Risks
The joint final rule narrows the basis for enforcement actions and MRAs to practices that pose material financial risk or constitute actual violations of law.
IRS Proposal Would Tie Tax-Exempt Status to Expanded Racial Nondiscrimination Policies in Private Schools
The proposal would expand the conditions for maintaining Section 501(c)(3) status and eliminate existing exceptions for certain race-conscious programs.
SEC Proposes Tailored Exemptions for Cryptoasset Offerings
The Proposal would establish two offering exemptions, a conditional safe harbor for investment contracts and broad preemption of state securities laws registration and qualification requirements.
No Privilege for Funder Diligence: The English Commercial Court Differentiates Between Funding Litigation and Conducting It
The English Commercial Court judgment in White v. Uber London Ltd underlines the distinction between funding litigation and conducting litigation, highlighting the disclosure risks arising from investigatory materials created in connection with prospective litigation.
Cryptoasset Lending in the Gaps: MiCA, ESMA Q&A 2883, and the Regulatory Future of Cryptoasset Lending
Recent developments signal that the regulatory treatment of cryptoasset lending may be shifting.
Crypto Vaults: US Regulatory Considerations
Crypto vaults are drawing regulatory attention, with a recent statement by SEC Commissioner Hester Peirce addressing the application of federal securities laws to these structures.