Information you need from those in the know

Cadwalader regularly publishes materials, including newsletters and news alerts of interest to our clients. Our communications portfolio also includes articles authored by our attorneys, as well as information about events in which our personnel will participate.

Articles & Books

Insider Trading After Martoma: Benefits Without Friends?

Sep 18, 2017

Law360

The authors address United States v. Martoma, which eliminates the need to prove a “close personal relationship” between tippers and tipees who exchange confidential information, and will likely expand the number of criminal insider trading prosecutions by the federal government. It is the latest in a string of important decisions concerning the scope of insider trading liability.


Related Attorney(s): Todd Blanche, Nathan Bull, Kyle DeYoung, J. Robert Duncan, Lex Urban
Related Practice(s): Anti-Money Laundering Investigations and Compliance, Corporate & Financial Services Litigation & Regulation, Corporate Governance, Corporate Governance Litigation and Counseling, Economic Sanctions, FCPA Enforcement and Compliance, Financial Regulation, Global Litigation, Investment Management Litigation, Securities Enforcement and Compliance, White Collar Defense and Investigations
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European Union: Financial Services

Sep 11, 2017

The European, Middle Eastern and African Antitrust Review 2018 | Global Competition Review | Sep 11, 2017

Cadwalader partner Vincent Brophy and special counsel Tom Bainbridge have written a chapter in Global Competition Review's annual Antitrust Review, entitled "European Union: Financial Services". The article provides a summary of EU antitrust developments in the financial services sector, including commentary on the recent proliferation of EU antitrust investigations, the interplay with financial regulatory enforcement and the development of private litigation. Against that background, the article addresses certain practical aspects to be considered when dealing with antitrust cases in this sector.


Related Attorney(s): Tom Bainbridge, Vincent Brophy
Related Practice(s): Antitrust
Related Office(s): Brussels, London
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Using Blockchain to Replace Deposit Account Control Agreements

Sep 11, 2017

Bloomberg Law | BNA's Banking Report

In a secured lending transaction, it is common for a lender to take security over a borrower’s deposit accounts as part of its collateral package. In the United States, such security interest is commonly perfected under the Uniform Commercial Code (UCC) by the entrance of the secured party, the debtor and the thirdparty account bank at which the deposit account is maintained into a deposit account control agreement (a DACA). While effective to perfect a security interest, the process of entering into and maintaining DACAs, and complying with their various terms, can be burdensome on all parties involved. This article takes a closer look at the potential implementation of a blockchain structure on traditional DACAs.


Related Attorney(s): Michael Lynch, Christopher McDermott, Jeffrey Nagle
Related Practice(s): Bank Regulation, Corporate, Corporate & Financial Services Litigation & Regulation
Related Office(s): New York
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Events

American Conference Institute's 14th National Forum on Energy Trading Compliance and Regulatory Enforcement

Nov 1-3, 2017

Cadwalader counsel George D. Billinson will be participating in a workshop primer entitled "Energy Trading Regulation and Compliance Boot Camp: A Guide to Relevant Agencies, Key Regulations, and Compliance Fundamentals", at the ACI's 14th National Forum on Energy Trading Compliance and Regulatory Enforcement.

Related Attorney(s): George Billinson
Related Practice(s): Energy Regulation & Litigation
Related Office(s): Washington
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Investing in Loans Forum

Nov 2-3, 2017

Cadwalader Partner Nick Shiren will be speaking at the Investing in Loans Forum in Lisbon.

Related Attorney(s): Nick Shiren
Related Practice(s): CLOs, Investment Management, Investment Management Regulation & Compliance, Securitization & Asset Based Finance
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Duff & Phelps' 2017 General Counsel Symposium

Nov 2, 2017

Cadwalader Partner Ellen Holloman will be speaking on a the "Post-Acquisition Litigation: What Are We Seeing Now" Panel at Duff & Phelps' 2017 General Counsel Symposium.

Related Attorney(s): Ellen Holloman
Related Practice(s): Class Action Defense, Corporate & Financial Services Litigation & Regulation, Global Litigation, International Dispute Resolution
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Clients & Friends Memos

European Fund Finance Market Update

Oct 19, 2017

On October 11, 2017, the Fund Finance Association (the “FFA”) hosted its 3rd Annual European Fund Finance Symposium (the “Conference”) at the Landmark Hotel in London.  Forty-two market participants sponsored the Conference and 444 people attended, both substantial increases over years past.  There were multiple panel sessions covering topics including private equity fund formation, subscription credit facility transaction structures (“Facilities”), Hybrid and NAV facilities (“NAV Facilities”) and forecasts for future market developments.  This article provides a market update of the European Fund Finance market for those unable to attend the Conference.


Related Attorney(s): Jeremy Cross, Michael Mascia, Wesley Misson
Related Practice(s): Fund Finance
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Court Declines to Vacate Environmental Assessment of Dakota Access Pipeline, Permitting Oil to Flow during Remand

Oct 16, 2017

On October 11, 2017, the United States District Court for the District of Columbia declined to vacate the U.S. Army Corps of Engineers’ Environmental Assessment of the Dakota Access Pipeline while the agency addresses, on remand, certain deficiencies in the EA identified in a prior ruling. The court’s decision—which permits the EA and a related easement granted by the Corps to remain in effect—will allow the pipeline to continue operating during the remand period.


Related Attorney(s): Mark Haskell, Lamiya Rahman
Related Practice(s): Energy Regulation & Litigation
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States Respond to Equifax Cyber Breach with Enforcement Actions and Calls for Enhanced Regulatory Powers

Oct 13, 2017

In the wake of last month’s historic cyber breach of Equifax, which resulted in the theft of sensitive personal information belonging to over 140 million Americans, states have wasted no time in seeking a greater role in regulating cybersecurity risk. Historically, while state consumer agencies and attorneys general have enforced notification requirements for victims of cyberattacks where consumer data was compromised, significant enforcement actions have been the purview of federal agencies such as the Federal Trade Commission, the U.S. Department of Justice, the Securities and Exchange Commission, and the Commodity Futures Trading Commission. However, given the scope of recent breaches and the sensitivity of the information that was stolen, states have recently stepped up and launched their own investigations and enforcement actions, and have imposed new data protection standards on various types of businesses.


Related Attorney(s): Peter Carey, Joseph Facciponti, Joseph Moreno
Related Practice(s): White Collar Defense and Investigations
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Blogs & Newsletters


Recent Blog Postings


Health Care Fraud Focus

Price is Out, But Health Care Fraud and Compliance Enforcement Remain Steady

Oct 03, 2017


Tom Price is out as Secretary of the U.S. Department of Health and Human Services (“HHS”).  Mr. Price announced his resignation on September 29th as he faced more questions and increasing scrutiny over his use of taxpayer-funded private planes.  While Mr. Price’s departure from HHS will impact some aspects of the Trump Administration’s health care... Continue Reading…


FCA Relators Relying on Statistical Sampling Receive More Bad News: DOJ Agrees to $275,000 Settlement in Agape, Just Years After Rejecting $2.5 Million Resolution

Sep 11, 2017


In February 2017, we wrote about how the Fourth Circuit sidestepped the question of whether a relator bringing suit under the False Claims Act (“FCA”) may use statistical sampling and extrapolation to establish FCA liability when it held in United States ex rel. Michaels v. Agape Senior Community, Inc. that an appeal on that point... Continue Reading…


OMIG Compliance Alert For New Value-Based Provider Reimbursement — Strong On Warning, Short On Guidance

Sep 05, 2017


The New York State Office of Medicaid Inspector General (“OMIG”) on August 31, 2017 issued its first Compliance Alert this year: “Mandatory Compliance Programs’ Risk Assessments: Changes in Medicaid Reimbursement Systems.”  While sounding the alarm for providers, the alert is unfortunately a missed opportunity to offer providers more concrete compliance guidance, in that it does... Continue Reading…



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FCPA Advisor

US and UK Regulators Speak Out on Anti-Corruption Enforcement Trends and Priorities

Dec 06, 2016


A number of key trends and priorities in international anti-corruption enforcement emerged last week at the 33rd ACI International Conference on the Foreign Corrupt Practices Act, held November 29 – December 2 outside of Washington, DC. Leading prosecutors and regulators from the US and UK described skyrocketing international law enforcement coordination, announced both “sticks” and “carrots” to encourage self-disclosure and cooperation, and pledged again to hold individuals accountable for anti-corruption violations. Officials from the Department of Justice (DOJ), the Securities and Exchange Commission (SEC), and the UK Serious Fraud Office (SFO) repeatedly emphasized these points in both their prepared remarks and their responses to questions.


Related Attorney(s): J. Robert Duncan, James Treanor
Related Practice(s): FCPA Enforcement and Compliance, White Collar Defense and Investigations
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Paper Tigers: Recent Settlements Show Companies Operating in China Need to Do More to Enforce FCPA Policies

Mar 02, 2016


Amid a recent flurry of Foreign Corrupt Practices Act (“FCPA”) settlements announced by the U.S. Department of Justice (“DOJ”) and U.S. Securities and Exchange Commission (“SEC”) were two settlements relating to the provision of improper gifts, hospitality and travel to Chinese government officials.


Related Attorney(s): James Treanor
Related Practice(s): FCPA Enforcement and Compliance, White Collar Defense and Investigations
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Bank of New York Mellon Settles FCPA Charges Regarding Internships for Relatives of Sovereign Wealth Fund Officials

Aug 20, 2015


On August 18, 2015, the Securities and Exchange Commission (“SEC”) announced that the Bank of New York Mellon Corporation (“BNY Mellon”) had agreed to settle administrative charges that it violated the Foreign Corrupt Practices Act (“FCPA”) by providing internships and work experiences to family members of officials of a Middle Eastern sovereign wealth fund (the “Fund”). The resolution with BNY Mellon continues a trend of aggressive FCPA enforcement by the SEC and marks the first time that the influencing of officials of a sovereign wealth fund has been the basis of an FCPA enforcement action.


Related Attorney(s): Peter Carey, A. Joseph Jay III
Related Practice(s): FCPA Enforcement and Compliance, White Collar Defense and Investigations
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Trade Alert

Trade Alert: September 2017, Issue 45

Sep 29, 2017


Jurisdiction: Luxembourg


Related Attorney(s): Louisa Watt
Related Practice(s): Debt & Claims Trading, Financial Restructuring
Related Office(s): London
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Trade Alert - August 2017, Issue 44

Sep 01, 2017


Jursidiction: USA


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Trade Alert - July 2017, Issue 43

Aug 01, 2017


Jurisdiction: Croatia


Related Attorney(s): Louisa Watt
Related Practice(s): Debt & Claims Trading, Financial Restructuring
Related Office(s): London
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Women in the City Program

Update - February 2017

Feb 14, 2017


What skills do women need to be successful leaders in the Fintech and alternative finance industry?

Can emerging companies offer an opportunity for women to do something different? Can technology revolutionise conventional financial services? These and other questions were debated by a panel of high profile leaders from the European FinTech and alternative finance industry to discuss opportunities and challenges for women in this growing area as part of Cadwalader’s Women in the City Programme, a series of seminars designed to inspire more women to take leadership roles in their organisations by offering open dialogue, useful insights and practical guidance.


Related Attorney(s): Jeremiah Wagner
Related Office(s): London
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Update - October 2016

Oct 14, 2016


How can more women be encouraged into funds?

This question was debated by a panel of women leaders in the investment fund industry at Cadwalader's second Women in the City debate.  The programme of discussions is designed to inspire more women to take leadership roles in their organisations by offering open dialogue, useful insights and practical guidance. Cadwalader hosted a large group of clients and colleagues over breakfast for a very lively panel discussion entitled "Women in Investment Funds: A Fundamental Advantage: Building Female Talent in the Investment Management Sector".


Related Attorney(s): Ingrid Bagby, Karen McMaster
Related Office(s): London
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Update - August 2016

Aug 04, 2016


What skills do women need to be successful leaders?

This question was debated by a panel of high profile female leaders at the recent launch of Cadwalader's Women in the City Programme, a series of seminars designed to inspire more women to take leadership roles in their organisations by offering open dialogue, useful insights and practical guidance.


Related Attorney(s): Gregory Petrick, Louisa Watt
Related Office(s): London
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Videos

Marching for Justice: A Discussion with Women’s March Founders

July 19, 2017

Three founders and organizers of the historic Women’s March - Mrinalini Chakraborty, Emma Collum and Breanne Butler - discussed the history of social activism, the genesis of the Women’s March and future plans.


Related Page(s): Diversity & Inclusion

The Domino Effect: If Abortion Rights Fall, LGBT Rights Are Next

June 20, 2017

Nancy Northup, President & CEO of the Center for Reproductive Rights, and Rachel Tiven, CEO of Lambda Legal, led an open discussion of LGBT rights, reproductive rights and the intersectionality of each group’s civil rights.


Related Page(s): Diversity & Inclusion

"Constance Baker Motley, James Meredith and the University of Mississippi"

Mar 23, 2017

The Cadwalader Center for Diversity & Inclusion hosted our Black History Month program titled "Constance Baker Motley, James Meredith and the University of Mississippi." Cadwalader’s Affinity Networks and special guests Hon. Denny Chin of the United States Circuit Court for the Second Circuit, Hon. William F. Kuntz II and Hon. Margo K. Brodie of the United States District Court for the Eastern District of New York presented a historical reenactment of James Meredith’s legal battle to be admitted to the University of Mississippi in the 1960s.


Related Attorney(s): Cheryl Barnes, Kathy Chin, Osvaldo Garcia, Patrick Quinn, William Robbins
Related Page(s): Diversity & Inclusion

Finance Forum 2017

Cadwalader is proud to host the 2nd Annual Finance Forum in Charlotte on November 8, 2017.

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