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Everybody's Talking
June 23, 2022

Everybody’s talking about the SEC’s climate disclosure rules ... and we mean everybody. As this week’s In Depth article shows, climate has dominated the headlines within the financial services industry broadly, along with the real estate and structured finance industries, and this is reflected in recent comment letters submitted by the Commercial Real Estate Finance Council (“CREFC”), the Bank Policy Institute (“BPI”), the Structured Finance Association (“SFA”) and the American Bankers Association (“ABA”).

Truth is, if industry participants are not talking about climate, then they are likely talking about crypto and that June 2023 LIBOR deadline. We take a closer look at those topics as well. 

As always, we welcome your thoughts on this week’s issue of Cabinet News and Views and other timely topics. Just write to us here.

Daniel Meade and Michael Sholem
Co-Editors, Cabinet News and Views  

Profile photo of contributor Joel Mitnick
Partner | Antitrust

The United States Supreme Court denied a petition for certiorari filed by six foreign banks that argued that U.S. courts lacked personal jurisdiction over them.

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Profile photo of contributor Peter Y. Malyshev
Partner | Financial Regulation

On June 21 and 22, lawyers, compliance professionals and commodity traders convened in Houston to discuss current compliance matters and the state of commodity markets, with the focus on energy commodities as well as carbon and environmental products. A number of themes emerged from the panels with speakers from private industry, consultancies and regulators.

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Profile photo of contributor Daniel Meade
Partner | Financial Regulation

On June 21, the Federal Deposit Insurance Corporation Board voted to amend the Deposit Insurance Fund restoration plan originally adopted in September 2020. As part of that amended restoration plan, the FDIC issued a Notice of Proposed Rulemaking to propose a universal increase in initial base deposit insurance rates of 2 basis points.

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Profile photo of contributor Michael J.  Ruder
Special Counsel | Capital Markets
Profile photo of contributor Melissa Farber
Associate | Capital Markets
Profile photo of contributor Daniel Meade
Partner | Financial Regulation

By the time the comment period closed on June 17, 2022, the SEC had received thousands of comment letters from the public in response to the SEC’s proposed climate disclosure rules, which is perhaps the most ambitious proposed rule-making by the agency in at least two decades. Nestled among countless comment letters written by individual members of the public were comments submitted by trade associations representing the commercial real estate, structured finance and banking industries. This article summarizes notable highlights from letters put forward by some of the trade associations representing parts of the financial services industry.

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Cadwalader’s financial services team hosted the first part of a four-part webinar series on capital relief trades and opened registration for the second installment. 

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Mercedes Kelley Tunstall
Co-Editor, Partner
T. +1 202 862 2266
mercedes.tunstall@cwt.com

Alix Prentice
Co-Editor, Partner
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alix.prentice@cwt.com

Maurine R. Bartlett
Senior Counsel
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maurine.bartlett@cwt.com

Sukhvir Basran
Partner
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sukhvir.basran@cwt.com

Brian Foster
Partner
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brian.foster@cwt.com

James Frazier
Partner
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james.frazier@cwt.com

Mark Howe
Partner
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mark.howe@cwt.com

Gregg Jubin
Partner
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gregg.jubin@cwt.com

Philip S. Khinda
Partner
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philip.khinda@cwt.com

Andrew Karp
Partner
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Ivan Loncar
Partner
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ivan.loncar@cwt.com

Peter Y. Malyshev
Partner
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philip.khinda@cwt.com

Jed Miller
Partner
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Michael Newell
Partner
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michael.newell@cwt.com

Richard M. Schetman
Senior Counsel
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Lary Stromfeld
Partner
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lary.stromfeld@cwt.com

Jonathan M. Wainwright
Senior Counsel
T. +1 212 504 6122
jonathan.wainwright@cwt.com

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