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  • Morrison & Foerster has formed a strategic alliance to provide state and local tax advice with accounting firm KPMG, making it the first law firm to forge a relationship with a big five accounting firm in the US. Chicago-firm Horwood Marcus & Berk Chartered and University of Georgia Professor Walter Hellerstein are also part of the alliance.
  • Big five firm Arthur Andersen has announced that it has hired former Clifford Chance managing partner Tony Williams in an attempt to compete with top international law firms.
  • The CFTC is considering a relaxation of its rules governing foreign brokers’ participation in the US futures market.
  • Uría & Menéndez
  • Latin America
  • Patton Boggs LLP
  • Gleiss Lutz Hootz Hirsch Frankfurt
  • For most of the past century the Glass Steagall Act artificially separated commercial and investment banking, and the Bank Holding Company Act provisions prohibited insurance underwriting.
  • January also saw the biggest ever all-UK corporate deal with the announcement that Glaxo Wellcome and SmithKline Beecham intend to merge.
  • UK firm Osborne Clarke has added French firm Stehlin & Associés to its European alliance and has pledged increased cooperation with existing partners in Germany, Denmark, Holland and Spain.