May 17, 2019
Cadwalader partner Daniel Tobias spoke with Creditflux reporter Hugh Minch about market preparation for the new European Union securitization regulation reporting standards as part of the Creditflux CLO Symposium and Manager Awards in London on May 8.
Tobias addresses the sanctions that may arise from negligence or intentional infringement on behalf of issuers or managers; and specifically, in the case of managers who suffer such sanctions, pushback from investors who do not want deal issuers to be responsible for those fees.
He also comments on how the forthcoming release of new templates will require cooperation among collateral administrators, managers and issuers to agree on standards for their reporting and application.
Tobias, who practices in Cadwalader’s Capital Markets Group, also participated in the event’s panel discussion titled “Dispatches from the CLO Trenches.” He was joined by co-panelist Chris Desmond, Partner, Dechert; and Seth Brumby, Head of Americas, Creditflux, who moderated.
To watch the video interview, please click here.
Tobias specialises in securitisation, with a focus on CLOs, and has represented arrangers, collateral managers and warehouse finance providers in connection with a variety of European CLO 2.0 transactions and loan warehouse facilities. Tobias has been working on CLO transactions since the resurgence of the European CLO market several years ago, during which time he has advised on numerous CLOs, including those with complex originator retention structures.
Howard Hawkins, Mark Ellenberg, Michele Maman, Thomas Curtin, Elizabeth Ruocco
Scott Cammarn, Jonathan Watkins, Mark Chorazak, Aaron Lang
On 7 June 2019, Regulation (EU) 2019/876 (CRR II) was published in the Official Journal of the EU.