Nov 09, 2017
Todd Blanche comments in New York Law Journal about New York's Proposal 2, overwhelmingly approved by voters, which gives judges the power to claw back pension benefits from public officials convicted of feloniously misusing the powers of their offices.
An excerpt from "Clawback Measure's Impact On Corruption Cases Debated," New York Law Journal, November 9, 2017:
But Todd Blanche, a partner at Cadwalader, Wickersham & Taft who works white-collar defense, said he sees the passage of the measure as an "important step" and as a "seal of approval" for prosecutors.
With regard to those who say the new law wouldn't go far enough, Blanche said he thinks it "strikes the right balance."
"At the end of the day, money matters," Blanche said. "That's usually the reason these guys commit the crime."
Blanche said the new law has a greater effect on defense attorneys than prosecutors, and also said that it may result in more attorneys representing public officials-in addition to their efforts to help them avoid jail time-to seek misdemeanor pleas.
"On top of everything you have to advise your client that there's a good chance that they're going to lose their pension," Blanche said.
The Bank of England has initiated a review of its own exposure to LIBOR,
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.