David Glynn

I really enjoyed developing this piece for the Philadelphia Business Journal on AI Best Practices. AI is not Y2K. It’s transformative like electricity. Every company must assess how it’s operations can be improved by AI, how they can drive more revenue with AI, and how they can mitigate the risks with using AI.

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Don’t miss the latest insights from THE CRED, where we explore wide-ranging topics across the private credit space, from PIK trends (featuring an article I co-authored with Angelina Liang and Edward Newlands), to the ABCs of ABF. You can read more via the link below. #privatecredit #THECRED

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Cooley LLP lawyers Michael Egan and Liza Cotter will explore the intersection of data privacy, cybersecurity and artificial intelligence in a session at the ACC NYC’s 2024 General Counsel Toolkit on June 6. View more details at the link below.

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New York partner, David Olstein, was recently quoted in a Law360 article discussing the finalized regulations of the U.S. Department of Labor, which have expanded the criteria for individuals qualifying as fiduciaries under the Employee Retirement Income Security Act. This change will bring more investment advisers under the purview of federal benefits law. Click here to read the full article. #ERISA #Regulation #Fiduciary #Benefits

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Cleary's latest Private Funds Bulletin looks at how GPs and LPs are leveraging co-investment opportunities and discusses the current trends in this space. See it here: https://bit.ly/3WwcwLo #privateequity #privatefunds #ClearyPFBulletin

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CRV's recent decision to return $275M from its later-stage Select Fund highlights the growing caution around inflated valuations. As capital becomes more selective, this move signals a recalibration, especially for late-stage startups where liquidity is tighter and exits are delayed. While this news centers on a later-stage fund, we may also see new early-stage funds raising less capital going forward. With a more conservative approach across the board, founders at all stages should expect increased scrutiny and a more measured funding environment in the near term. https://lnkd.in/grG7u_KK

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Join us on Tuesday, June 4, at our Boston office for a panel discussion on the potential impact of the upcoming election on the current economy. Our distinguished speaker and panelists will provide valuable insights into the risks facing the U.S. and global economies, as well as the financial markets. Learn more about the event and RSVP below. #Election #Economy #Finance

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Weil Gotshal announced Monday that it has added two attorneys to its New York office, one to bolster its banking and finance practice and the other to strengthen its executive compensation and benefits group. https://lnkd.in/esXWwU59

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Thanks to IFLR for publishing the article I wrote with Moshe Berliner, "Cautious optimism for US middle-market M&A in 2025," exploring key deal term trends and insights. #mergersandacquisitions

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It's hard not be excited about the implications of this Advisory. Some thoughts and questions to ponder: This is encouraging news if one views the Advisory as the CFTC dropping its guard after a long history of contentious turf battles involving commodity-based products listed on securities exchanges. How will commodity exchanges react?   What implications does this have for current and future proposals, including those in the precious metals market? The Advisory generally refers to the “clearing of options on various spot commodity-based exchange traded fund share products” as “Spot Commodity ETFs”. The scope is not limited to cryptocurrency products.     Given the recent price propulsion of BTC, does this mean it's time to revisit position limits for the BTC ETFs and ETPs? The Chapman derivatives team is taking a deep dive on these issues. More to come!

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As nearly half of all commercial real estate loans maturing this year are backed by multifamily assets, the sector is facing some pivotal changes. Are you prepared for what lies ahead? I’m excited to join Shlomo Chopp, Y. David Scharf, and Michael Weiser at the Multi-Family Owners Summit where we’ll dive into the key risks, challenges, and opportunities shaping the multifamily market in 2025. #MFOSummit #Multifamily #Apartments #CapitalMarkets

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When Overreach Meets Accountability: 🗽SEC's Dealer Rule Vacated on the Day Gensler Announces Resignation🫡 🔄In a poetic twist of fate, Gary Gensler's SEC tenure ends as the courts deliver a decisive critique of his regulatory overreach. On November 21, 2024, Judge Reed O'Connor of the Northern District of Texas vacated the SEC's controversial Dealer Rule, a decision that reverberates across crypto and financial industries. On the same day, Gensler announced he would step down as SEC Chair effective January 2025. 🛡The Dealer Rule: A Step Too Far The SEC’s Dealer Rule attempted to redefine “dealer” under the Exchange Act, targeting digital asset markets and traders who provided liquidity. The rule’s broad language threatened to sweep DeFi participants—those using liquidity pools, decentralized exchanges, and smart contracts—into the same category as traditional market dealers. But Judge O'Connor’s ruling was a stark rebuke. The Court noted: 🧐The rule erased a century-old distinction between “traders” and “dealers,” violating the Exchange Act’s intent. The SEC overstepped its statutory authority, with Judge O’Connor emphasizing, “The Rule as it currently stands de facto removes the distinction between ‘trader’ and ‘dealer’ as they have commonly been defined for nearly 100 years.” The Impact on DeFi and Innovation DeFi protocols operate without traditional intermediaries, enabling peer-to-peer liquidity through open-source software and smart contracts. The SEC’s attempt to regulate such automated systems as “dealers” was seen as a direct assault on innovation. 😴A Reflection on Gensler’s Leadership Gary Gensler’s tenure at the SEC has been marked by aggressive enforcement, particularly targeting crypto markets. While his policies aimed to increase investor protections, many argue they stifled innovation and lacked clarity. 🫥👮The SEC’s repeated losses in courts—Ripple, Grayscale, and now the Dealer Rule—underscore the growing judicial pushback against regulatory overreach. Gensler’s resignation opens the door for a leadership shift, with potential candidates like Dan Gallagher and Paul Atkins signaling a more industry-friendly regulatory approach. 🧭What’s Next? This ruling is not just a legal victory; it’s a pivotal moment for how regulation adapts to innovation. With Gensler’s departure, the SEC faces a choice: continue on a path of contentious enforcement or work towards a balanced framework that supports both investor protections and technological growth. 🤞🗿For the blockchain industry, this is a reminder that vigilance and advocacy are essential. The Court’s decision reinforces the importance of adhering to legislative intent, especially as regulators grapple with the challenges of emerging technologies. 📢As one of the plaintiffs stated: "This is just the first domino. Innovation must prevail over overreach." #CryptoRegulation #DeFi #SEC #GaryGensler #Blockchain #Innovation

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In Dante's epic Divine Comedy, the Sixth Circle of Hell is inhabited by those condemned for heresy. Hersey is generally defined as deviation from a dominant practice. With investment advice, clients should seek the dominant practice of financial advisors who have chosen to serve clients under a fiduciary standard, legally requiring the clients best interest ahead of their own. I don't think JP Morgan Chase would name their Six Circles mutual fund family in homage to the Inferno of the Divine Comedy, but every client should read and understand the Six Circles disclosures and particularly JP Morgan's section called IMPORTANT INFORMATION ABOUT YOUR INVESTMENTS AND POTENTIAL CONFLICTS OF INTEREST https://lnkd.in/gmbUrmDY

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Read the full Law360 article here: https://bit.ly/3Kri9Dm

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A cross-border team led by New York partners David Beller and Leah Sauter advised on the sale and in Astorg’s original investment in the global IP solutions provider in 2019, the Pan-European private equity firm’s first US investment. #LathamTECH https://lw.link/Wt3Lg6

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Great info from one of my law partners with lots of detailed specifics what buyers and sellers each prefer in M&A transactions and why. https://lnkd.in/e6k_MtVk

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My apologies for the potential paywall, but this is a really interesting article on partner business generation expectations, particularly at large firms. The article cites $5-7M in origination expectations at certain firms, the widening compensation gap between partners with high and low books of business, and even the creation of "super tiers" for top rainmakers in order to keep top talent.

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Partner Alon Kapen discusses the complexities of the rise in down rounds in 2024 VC deals, introducing strategies to mitigate their impact in his recent New York Venture Hub blog post. Read the full blog post here: https://lnkd.in/e6VN6a2R

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White & Case's New York Securitization Group discusses the evolution of the securitization market to the world of non-traditional or esoteric securitizations with exciting new assets. https://ow.ly/ucKh50SCByv #whitecase

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