February 26, 2014
Cadwalader, Wickersham & Taft LLP, a leading counselor to global corporations and financial institutions, announced that Neil Weidner, a partner in the Capital Markets Group, was featured as a key witness on behalf of the Structured Finance Industry Group at a February 26, 2014, hearing of the U.S. House of Representatives Subcommittee on Capital Markets and Government Sponsored Enterprises, entitled “The Dodd-Frank Act’s Impact on Asset-Backed Securities.”
Weidner joined a panel consisting of professionals from various industry trade organizations, such as the Loan Syndications and Trading Association, the Center for Capital Markets Competitiveness of the U.S. Chamber of Commerce, and the CRE Finance Council, together with a law professor at Georgetown University Law Center. The panel discussed the potential impact the Dodd-Frank Wall Street Reform and Consumer Protection Act and related regulations could have on the asset-backed securitization markets.
Weidner’s testimony focused primarily on the negative effects the Volcker Rule and risk retention under Dodd-Frank could have on the collateralized loan obligation market and, as a result, the commercial loan market that provides a crucial source of affordable funding to companies across many industries in the United States. He provided both examples and proposed solutions to counteract these potential negative effects. His written testimony was prepared with the assistance of David Gingold and Peter Williams, both special counsel in the Capital Markets Group.