A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets.
This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength.
Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations.
Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
On December 19, 2016, the US Federal Reserve, the FDIC, the US National Credit Union Administration and the OCC issued FAQs to assist institutions in implementing the new accounting standard for credit losses.
On December 19, 2016, the US Federal Reserve, the FDIC, the US
National Credit Union Administration and the OCC issued FAQs to
assist institutions in implementing the new accounting standard for
credit losses, which was recently issued by the US Financial
Accounting Standards Board. The new standard, "Financial
Instruments—Credit Losses," replaces the existing
incurred loss methodology in US GAAP and establishes the new
current expected credit losses methodology (CECL). The FAQs expand
on the "Joint Statement on the New Accounting Standard on
Financial Instruments—Credit Losses," which the agencies
issued in June 2016. The agencies plan to continue issuing FAQs
regarding the implementation of the CECL methodology.
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