At nine Florida law firms, equity partners and shareholders took PPP loans separate from their firm's loan. Most acted in accordance with an initial CARES Act regulation instructing them to do so, one that was subsequently reversed—but not before millions were approved for the partners.
Ex-SEC Chairman Clayton, Former Acting Solicitor General Wall Rejoin Sullivan & Cromwell
Before his three-and-a-half-year term as SEC chairman, Clayton was among Wall Street's top-earning corporate partners. He will also take a new role with Apollo Global Management's board of directors.
Former Sullivan & Cromwell partner Jay Clayton is returning to the Wall Street firm following his three-and-a-half-year term as chairman of the U.S. Securities and Exchange Commission, the firm announced Thursday.
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"We're at a critical, unique juncture for the financial services industry itself," said Mark Chorazak, a Shearman partner.
Law firms are bulking up in life sciences, fintech, white-collar and regulatory practices.
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