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 5 September 2017, the securities industry successfully implemented an amended rule adopted by the SEC last March that shortens the standard settlement cycle for most broker-dealer securities transactions...
On 5 September 2017, the securities industry successfully
implemented an amended rule adopted by the SEC last March that
shortens the standard settlement cycle for most broker-dealer
securities transactions by one business day, to two business days
following the trade date, thus bringing the U.S. settlement cycle
in line with European markets.
As mentioned in our Q1 2017 Memorandum, the amended rule is
aimed at enhancing efficiency, preventing market and liquidity risk
arising from unsettled securities trades and ensuring a
co-ordinated and expeditious transition by market participants to a
shortened standard settlement cycle.
The SEC's statement on T+2 implementation is available
at:
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