Cadwalader Logo Cabinet News & Views - Informed analysis for the financial services industry
Subscribe
Let's Be Fair
July 20, 2023

What started out as just another (albeit important) speech on the Fair Lending Act soon became another flashpoint on AI.

As my colleague Mercedes Tunstall and I note in this week's issue, AI-related comments from Federal Reserve Board Vice Chair Michael Barr this past Tuesday drew some headlines and furthered the discussion on AI – this time, with a focus on AI's impact on fair lending laws.

I guess we ought to stop being surprised. We can all expect to see AI come up in lots of financial regulatory conversations over the coming weeks, months and years. 

Any thoughts on AI? You can reach me here.

Daniel Meade 
Partner and Editor, Cabinet News and Views

Profile photo of contributor Daniel Meade
Partner | Financial Regulation
Profile photo of contributor Mercedes Kelley Tunstall
Partner | Financial Regulation

Michael Barr, the Federal Reserve Board’s Vice Chair for Supervision, delivered remarks, titled “Furthering the Vision of the Fair Housing Act,“ to the National Fair Housing Alliance 2023 National Conference earlier this week. 

Read More »

Profile photo of contributor Joel Mitnick
Partner | Antitrust

Proposing a radically different conception of government enforcement merger guidelines, the Federal Trade Commission and the Department of Justice jointly issued draft merger guidelines yesterday that would replace current Merger Guidelines, which were revised last in 2010. Stating that the “goal of this update is to better reflect how the agencies determine a merger’s effect on competition in the modern economy,” the structure of the draft merger guidelines replaces the step-by-step economically analytical approach to merger analysis with a manifesto of 13 doctrinaire statements that will instead guide the Agencies’ analysis.  

You can read our analysis here.

Profile photo of contributor Alix Prentice
Partner | Financial Regulation
Profile photo of contributor Assia Damianova
Special Counsel | Capital Markets

The UK and Europe have released a number of updated requirements for securitisations that, while not effecting material changes, are notable in their scope and number.

You can read our brief guide to these changes and their implementation schedules here.

Profile photo of contributor Alix Prentice
Partner | Financial Regulation

Alongside work being done internationally on liquidity management by the Financial Stability Board and IOSCO, the UK’s Financial Conduct Authority has written to the Chief Executives of authorised asset management firms with the key findings of a multi-firm review of liquidity management by Authorised Fund Managers.

Read More »

Profile photo of contributor Duncan Grieve
Special Counsel | White Collar Defense and Investigations

In progress reports to the European Commission published on June 1, 2023, the European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority have articulated a common, high-level definition of greenwashing and outlined greenwashing risks, impacts, proposed mitigation efforts and challenges for their respective industries.

Read More »

Profile photo of contributor Jason M. Halper
Partner | Global Litigation
Profile photo of contributor Sara Bussiere
Special Counsel | Global Litigation

In a report published in June 2023, the Columbia Center on Sustainable Investment claims that many financial institutions’ climate strategies are not currently aligned with global climate goals under the Paris Agreement. The report, titled “Finance For Zero: Redefining Financial-Sector Action to Achieve Global Climate Goals,” also states that the financial sector’s climate commitments are sometimes overstated or misrepresented due to a reliance on misaligned targets or metrics.

Read More »

Maurine R. Bartlett
Senior Counsel
T. +1 212 504 6218
maurine.bartlett@cwt.com

Sukhvir Basran
Partner
T. +44 0 20 7170 8620
sukhvir.basran@cwt.com

Brian Foster
Partner
T. +1 212 504 6736
brian.foster@cwt.com

James Frazier
Partner
T. +1 212 504 6963
james.frazier@cwt.com

Mark Howe
Partner
T. +1 202 862 2236
mark.howe@cwt.com

Gregg Jubin
Partner
T. +1 202 862 2485
gregg.jubin@cwt.com

Philip S. Khinda
Partner
T. +1 202 862 2262
philip.khinda@cwt.com

Ivan Loncar
Partner
T. +1 212 504 6339
ivan.loncar@cwt.com

Peter Y. Malyshev
Partner
T. +1 202 862 2474
peter.malyshev@cwt.com

Jed Miller
Partner
T. +1 212 504 6821
jed.miller@cwt.com

Michael Newell
Partner
T. +44 0 20 7170 8540
michael.newell@cwt.com

Alix Prentice
Partner
T. +44 0 20 7170 8710
alix.prentice@cwt.com

Rachel Rodman
Partner
T. +1 202 862 2210
rachel.rodman@cwt.com

Richard M. Schetman
Senior Counsel
T. +1 212 504 6906
richard.schetman@cwt.com

Lary Stromfeld
Partner
T. +1 212 504 6291
lary.stromfeld@cwt.com

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

© 2024 | Notices | Manage Subscription | Contacts