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Financial Markets Capital Markets

Ballard Spahr LLP

Cautious Optimism For Capital Markets

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Life sciences capital markets in 2025 have been a mixed bag—some rays of light peeking through, but still, plenty of clouds for early-stage companies hoping to tap the public markets. After a long IPO drought, 2024 brought a...more

White & Case LLP

Private Eyes: US Public-to-Private PE Deals Flourish

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US take-private transactions have provided a reliable channel for PE capital deployment in a volatile buyout market where early momentum in 2025 cooled in the second quarter....more

A&O Shearman

EC Draft Delegated Regulation on Providing Market Data, What Constitutes a Liquid Market for Equity Instruments, and PTRR...

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The European Commission (EC) has published a draft delegated regulation amending Delegated Regulation 2017/567 as regards the obligation to provide market data on a reasonable commercial basis, the determination of what...more

Cooley LLP

The SEC Offers Shiny Objects (and Data)

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Last week, the SEC announced it has a new statistics and data visualization page that is pretty cool. The information is “interactive,” presented in graphics and also can be downloaded....more

White & Case LLP

Resilient US High Yield Dealmakers Adjust to Market’s “New Normal”

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After a bumpy start to the second quarter, when tariff announcements inhibited issuance, US high yield bond activity rallied strongly, demonstrating the market’s resilience and maturity....more

Fenwick & West LLP

SEC Unveils New Statistics and Data Visualization Page

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Last week, the Securities and Exchange Commission (SEC) launched a new statistics and data visualization page that includes statistics and interactive graphics on key elements of the capital markets, based on the following...more

Herbert Smith Freehills Kramer

UK Public M&A Monthly Activity Update: July 2025

In July 2025, there were five Rule 2.7 announcements made across the UK public M&A market and three further possible offers announced....more

A&O Shearman

ESMA confirms switch toward single volume cap in October

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The European Securities and Markets Authority (ESMA) has published a press release to confirm that, effective from October, the EU will transition from the current double volume cap (DVC) mechanism to a single volume cap...more

A&O Shearman

UK's BoE Financial Market Infrastructure Committee responds to HMT recommendations

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The Bank of England (BoE) has published a letter dated 15 July, responding to the Chancellor of the Exchequer's letter that set out the government's recommendations to the BoE's Financial Market Infrastructure Committee...more

Offit Kurman

Deal Flow Thawing: Is the M&A Market Finally Finding Its Footing?

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After a rocky past six months, there is cautious optimism that merger and acquisition (M&A) activity is beginning to unfreeze. For much of the past year, there have been mismatched expectations around valuations and limited...more

Foley & Lardner LLP

Is an IPO Window Opening for H2 2025?

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The IPO market is showing encouraging signs of recovery in 2025, with 201 companies going public year-to-date compared to 225 for all of 2024. While deal volumes are increasing and aftermarket performance is strong, average...more

A&O Shearman

UK FSMA 2000 (Markets in Financial Instruments) (Amendment) Regulations 2025 laid

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The UK FSMA 2000 (Markets in Financial Instruments) Amendment Regulations 2025 have been laid. The regulations extend the UK Financial Conduct Authority's (FCA) powers of direction to a new category of derivative, referred to...more

White & Case LLP

High yield markets close first half of 2025 on a high

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Although high yield bond markets in the US and Europe recorded small year-on-year declines in issuance in H1, high levels of activity in Q2 bode well for the rest of the year - After a slow start to the year beset by a...more

Troutman Pepper Locke

A New Brand of Uncertainty? — PE Pathways Podcast

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Partner Jeremy Levy hosted the first live recording of PE Pathways at Troutman Pepper Locke's third annual Private Equity Perspectives Summit, held this year in Kohler, WI. Jeremy was joined by Troutman Pepper Locke Partner...more

Mayer Brown Free Writings + Perspectives

Capital Markets Insight: How to Know When You Need a Temporary CUSIP Number for Reopenings

If you are involved in issuing or trading securities, you are familiar with CUSIP numbers, the ninedigit alphanumeric codes that identify specific securities in the United States and Canada. What you may not know is that...more

Jones Day

Reform of the EU Securitisation Framework—Part 2: Proposed Definitions of "Public" and "Private" Securitisations

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On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This...more

A&O Shearman

Mansion House: FCA statement on market reforms and what's to come

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The UK Financial Conduct Authority (FCA) has published a statement on its work to date reforming the UK capital markets, and what lies ahead in terms of consultations and developments expected later this year and in 2026. The...more

A&O Shearman

Mansion House: Financial Services Growth and Competitiveness Strategy

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The UK government has published its Financial Services Growth and Competitiveness Strategy, a ten-year plan to drive growth and competitiveness in the UK financial services sector. The strategy follows a call for evidence...more

Mayer Brown

Faqs – What US Clients Need to Know About PISCES – a New Secondary Private Stock Market in the UK

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WHAT ARE THE KEY DRIVERS FOR REFORM? The UK Treasury ("HMT") noted the following as drivers for reform: A key challenge for private companies is that, at early stages in their growth, there are no standardised ways...more

A&O Shearman

FSB final report on leverage in NBFI and data challenges work plan

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The Financial Stability Board (FSB) has published its final report on leverage in non-bank financial intermediation (NBFI) which highlights the significant role of NBFI leverage in recent financial stress episodes and...more

A&O Shearman

Bank of England's FPC publishes July financial stability report

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The Bank of England's Financial Policy Committee (FPC) has published its July financial stability report alongside the record of its 27 June meeting. After assessing the risks to the UK financial system, the FPC reports that...more

Perkins Coie

Quarterly Investment Update - 2nd Quarter 2025

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Stock Market Commentary - U.S. stocks rallied during the second quarter, with the S&P 500 finishing up 10.9% reaching new all-time highs. The beginning of the quarter, however, was marred by a precipitous drop following...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - July 17, 2025

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On July 16, Commissioner Hester M. Peirce gave a speech at London’s Guildhall with other financial regulators and industry leaders. In her speech, Commissioner Peirce highlighted the historic ties between the U.S. and the...more

Mayer Brown

FAQs – What US Clients Need to Know About PISCES – A New Secondary Private Stock Market in the UK

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WHAT ARE THE KEY DRIVERS FOR REFORM? The UK Treasury ("HMT") noted the following as drivers for reform: A key challenge for private companies is that, at early stages in their growth, there are no standardised ways...more

Ropes & Gray LLP

U.S. Private Equity Market Recap - July 2025

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Read our latest insights into the U.S. private equity market. We cover monthly deal activity and size, fundraising, exits, leveraged loans, and a look ahead. Deal activity: The number of U.S. private equity deals didn’t...more

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