I have moved down the corridor from my second seat, where I shared an office with my supervisor, to my third, where I share an office with another trainee. After a morning spent moving in and unpacking I have a meeting with my supervisor to discuss ongoing and potential future matters. I spend the rest of the day getting up to speed and doing background reading.
I arrive to find two requests which had come in overnight. One is from our New York office, requesting U.K. and EU law advice on a new matter. It involves researching recent developments in EU financial regulatory law. The second, from our Washington D.C. office, involves coordinating with regulatory authorities in London. My office-mate—who preceded me in my seat—explains what has to happen and by when. I get back in touch with our D.C. colleagues to request the information we need to make the appropriate applications, and update them on timing, which is fairly tight. Once they respond I initiate the process with the regulators.
After a training session on an aspect of the Firm’s practice I take an hour to read through some recent legal updates. My supervisor then asks me to prepare a memo for a client on certain regulatory requirements applicable. This is a job which I can take a couple of days to think about. As I am reading into the background materials, my phone rings. One of the U.S. partners explains that they need an extra hand to help with an ongoing M&A deal. It’s an interesting deal, which I worked on as a tax trainee. This is a good illustration of how trainees are exposed to S&C’s general practice model. Because lawyers are not siloed into a particular department, it’s common to be asked to work across different practice areas. I dial into a call with local counsel that afternoon to get up to speed.
My supervisor asks me to draft a letter to a U.K. regulator. After doing some preliminary research and background reading on the transaction, I call the individual who will be reviewing the application to discuss their expectations before trying to knuckle down with a first draft. The afternoon is taken up with a different deal: I have a meeting with the senior associate to discuss how to manage the due diligence process. In practice, it involves filtering requests from the prospective buyer, then liaising with the management of the target subsidiary to ensure that the appropriate information is disclosed.
I finish the first draft of the letter and send it to my supervisor to review. She asks me to try and find out how a novel point of EU law which cropped up in a recent transaction had been dealt with on other deals. I do some research online and discuss the problem with the law librarian, who finds some additional resources. I will start writing up the memo itself on Monday. A few questions come in from the New York office on certain points of U.K. and EU law. They can be dealt with fairly quickly before sliding off into the weekend.