We are pleased to provide a collection of commentaries on the critical legal issues facing our clients in 2013.

There is hope that global economic and market conditions will continue to improve despite ongoing challenges. Lingering discord in the wake of the U.S. fiscal cliff negotiations, the mire of Europe's debt crisis and concern over the pace of recovery in Asia all have contributed significantly to the uncertainty felt by businesses globally. Regardless of how these issues are resolved, it has become clear that regulation will remain a major factor in how global business is conducted.

Our commentaries are arranged in seven broad sections that cover the areas in which our clients may find both the greatest challenges and the greatest opportunities:

- Capital Markets. We examine trends and opportunities in various sectors of the financial markets and also discuss certain industry-specific and geographic developments.

- Corporate Restructuring. With an increased focus on global issues, we discuss current developments impacting creditors’ rights, including the greater interplay between U.S. and international restructuring regimes.

- Financial Regulation. The new global regulatory environment continues to evolve, driven by the Dodd-Frank Act and other legislation in the U.S. and various developments in Europe. We highlight selected topics that reflect the increasingly interconnected nature of our global financial system.

- Global Litigation. Dispute resolution continues to globalize and become more complex, particularly in areas such as securities and other types of class actions, antitrust and white collar/government investigations. We discuss recent developments and anticipated decisions in the U.S. Supreme Court and elsewhere — as well as international litigation and arbitration trends — that likely will impact how corporations do business and manage disputes in 2013.

- Global M&A. In 2012, global M&A and other transactional activity continued to be constrained by the financial and economic environments, particularly the European stagnation and Asian slowdowns. Although our outlook for 2013 is cautiously optimistic, a meaningful increase in activity appears to hinge on the continued stabilization of global markets and economic conditions, aided by increased tax and fiscal clarity in the United States.

- Governance. The focus on proper corporate governance may not be news, but directors and management continue to confront a number of important issues regarding executive compensation, changes to governance processes and evolving approaches to engagement with shareholder constituencies.

- Regulatory. With a second term for the Obama administration beginning, we anticipate that the regulatory environment will stay robust. We assess the impact of increased regulation in a variety of governmental arenas; we also discuss notable international regulatory developments.

Whatever happens in 2013, we would like our clients to be well-positioned to anticipate and properly navigate the shifting environment. We will be in touch regarding upcoming Skadden seminars and webinars on these issues. In the meantime, if you have a particular interest in any of these topics, please call your usual Skadden contact.