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In addition to Mark Manner's busy corporate legal practice, he has established himself as a respected and avid astronomer. Read more>

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On December 1, 2016, Parker Hannifin Corporation and CLARCOR Inc. announced that the companies have entered into a definitive agreement under which Parker will acquire CLARCOR for approximately $4.3 billion in cash, including the assumption of net debt. The transaction has been unanimously approved by the board of directors of each company. Upon closing of the transaction, expected to be completed by or during the first quarter of Parker’s fiscal year 2018, CLARCOR will be combined with Parker’s Filtration Group to form a leading and diverse global filtration business. Bass, Berry & Sims has served CLARCOR as primary corporate and securities counsel for 10 years and served as lead counsel on this transaction. Read more here.

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Blueprint for an IPO

Companies go public to raise capital to fuel growth, pay down debt and provide liquidity to shareholders. Although all issuers and offerings are different, the basic process of going public remains relatively constant. Blueprint for an IPO identifies the key players, details the process and identifies the obligations companies will face after going public.

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Thad McBride Provides Insight on Combating Money Laundering, Terrorist Financing and Counterfeiting Act of 2017

Compliance Reporter

Media Mentions

June 30, 2017

Bass, Berry & Sims attorney Thad McBride provided insights for an article in Compliance Reporter discussing the Combating Money Laundering, Terrorist Financing and Counterfeiting Act of 2017 and the heightened compliance measures financial institutions may face if the bill is passed in the Senate. The bill would put forth an increased ability for regulators to crack down on questionable activity occurring beyond U.S. borders by reviewing records of coordinating institutions stateside. 

This would put a greater emphasis for businesses with overseas operations to "know your customer" and "know your customers' customers," especially banks. "There will be added due diligence requirements for financial services companies in terms of really knowing who they are dealing with," said Thad. "There will be added necessity to dig into who your customers are and who is involved in your transactions." 

For compliance professionals, the bill's increased scrutiny may create situations that require review of their business counterparts. It's important for compliance professionals to ensure that they are viewed as a resource, rather than a barrier in doing business. "There likely will be scenarios where it will be necessary to dig into who a client is and, to the extent you can be friendly with business people, it will make it easier to meet those new burdens," Thad added. 

The full article, "Senate AML Bill Would Raise KYC Burdens," was published on June 29, 2017, by Compliance Reporter and is available online (subscription required).


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