Moving Forward and Looking Back

Daniel Spiegel is quoted in a Corporate Counsel article regarding significant changes that occurred in the global marketplace while Paul Dudek was head of the SEC’s Office of International Corporate Finance for 23 years. Spiegel, commenting on “Smaller Companies/Emerging Markets,” says that the growth of emerging markets entering the global economic and trading system has been a major economic change. Corporate lawyers must be very adept when entering these markets, Spiegel says. "They are entering systems without a strong rule of law and with weak regulatory systems.” Beyond corruption and compliance issues, he says, there are a wide range of political and legal issues to consider.

Spiegel also weighs in on the impact of Brexit. “It is the most important development affecting American companies invested in Europe since the formation of the EU" in 1993. He continues, "The British still want as much access as possible to the European market." Spiegel also explains that if it gives the UK too sweet a deal, other nations might want to depart the EU and seek similar agreements.