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Information you need from those in the know
Cadwalader regularly publishes materials, including newsletters and news alerts of interest to our clients. Our communications portfolio also includes articles authored by our attorneys, as well as information about events in which our personnel will participate.
Articles & Books
Bye-bye BSBY?
September 14, 2023Earlier this week, Bloomberg Information Services Limited (“BISL”) announced that it is seeking feedback on a proposal to cease the publication of the Bloomberg Short-Term Bank Yield Index (“BSBY”) “following a review of commercial opportunities for BSBY.” BSBY was originally developed by BISL as an alternative to the secured overnight financing rate (“SOFR”), the rate widely endorsed as the replacement for USD LIBOR. Unlike SOFR, BSBY was designed as an index of credit sensitive reference rates that reflects bank credit spreads and a forward term structure.
Related Practice(s): Financial Regulation
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FDIC Issues Bank Failure Post Mortem Report
September 14, 2023Last week, the Federal Deposit Insurance Corporation (“FDIC”) issued a report from its Chief Risk Officer entitled FDIC’s Supervision of First Republic Bank. The FDIC was First Republic Bank’s primary federal banking agency, as First Republic was a state-nonmember bank. The report is basically a post-mortem of the FDIC’s supervision of First Republic leading up until its failure in May.
Related Practice(s): Bank Regulation, Financial Regulation
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The UK Introduces Repayment Concessions for Residential Mortgages
September 14, 2023In June of this year, the UK’s Financial Conduct Authority (“FCA”) introduced rules to allow mortgage lenders to more easily vary contracts in order to allow borrowers to make reduced capital payments or switch to an interest-only loan for a period of up to six months.
Related Practice(s): Financial Regulation, Securitization & Asset Based Finance
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Events
LMA Syndicated Loans Conference 2023
September 26, 2023Cadwalader partners Sukhvir Basran (Financial Services and ESG) and David Quirolo (Capital Markets) will be speaking at the Loan Market Association’s Syndicated Loans Conference 2023.
Related Practice(s): CLOs, Environmental, Social & Governance (ESG), Financial Regulation
Related Office(s): London
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The Crypto Revolution: A dive into the world of cryptocurrencies, blockchains and NFTs
September 28-30, 2023Cadwalader associate Charlotte Glaser will speak at AIJA's "The Crypto Revolution: A dive into the world of cryptocurrencies, blockchains and NFTs" seminar in Vaduz.
Related Practice(s): White Collar Defense and Investigations
Related Office(s): London
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Developments in the Regulation of Financial Products Conference
September 29, 2023Cadwalader partner Peter Malyshev will be a featured speaker at the Developments in the Regulation of Financial Products Conference.
Related Practice(s): Commodities & Futures Regulation, Derivatives & Structured Products
Related Office(s): Washington
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Clients & Friends Memos
SEC Adopts Extensive New Rules for Investment Advisers to “Private Funds,” but Excludes CLOs and Other “Securitized Asset Funds” from Those Rules
August 25, 2023In February 2022, the Securities and Exchange Commission (the “SEC” or the “Commission”) proposed sweeping new regulatory requirements under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) for investment advisers that provide advisory services to “private funds.” At a meeting this past Wednesday, the Commission adopted those rules, with certain key changes, by a three to two vote.
Related Practice(s): Financial Regulation
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Does WeWork’s Going Concern Warning Signal a Potential Bankruptcy Filing?
August 17, 2023Three years have passed since the COVID-19 pandemic reached the United States and its effects are still being felt today. Even though lockdown measures have largely disappeared and many workers have returned to the office, flexible work has become a fixture in the workplace.
Related Practice(s): Financial Restructuring
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Next Steps in the Proposed Replacement of the UK Securitisation Regulation
August 10, 2023Following closely behind the consultation paper from the Prudential Regulation Authority (“PRA”) (for more discussion see our briefing of 1 August), the UK’s Financial Conduct Authority (“FCA”) has published its proposed new rules relating to securitisations in Consultation Paper CP23/17 (the “FCA CP”). As with the PRA’s consultation, the FCA CP sets out the firm-facing provisions of the UK Securitisation Regulation (Securitisation Regulation (EU) 2017/2402 as onshored) (the “UK SR”) currently in force as retained EU law and for which the FCA has supervisory responsibility.
Related Practice(s): Financial Regulation, Securitization & Asset Based Finance
Related Office(s): London
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Newsletters
Brass Tax
BrassTax is a monthly newsletter that provides clear and concise insights on important tax developments.
Related Practice(s): Corporate Taxation, Mergers & Acquisitions Taxation, Restructurings & Bankruptcies Taxation, Securitization & Structured Products Taxation, Tax, Tax Controversy
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Cabinet News & Views
Cabinet News & Views is a weekly newsletter covering news in the financial services industry.
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Cadwalader Climate
Cadwalader Climate is a twice-weekly newsletter that summarizes and provides the legal implications of climate-related developments.
Related Practice(s): Environmental, Social & Governance (ESG)
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Fund Finance Friday
Fund Finance Friday is a weekly market intelligence update for the fund finance market from Cadwalader.
Related Practice(s): Fund Finance
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REF News & Views
REF News & Views is a monthly newsletter comprised of news and commentary around legal matters concerning mortgage finance, mezzanine finance, loan sales and construction finance.
Related Practice(s): Construction Finance, Joint Ventures, Loan Sales, Management & Leasing, Mezzanine Finance, Mortgage Finance, Real Estate, Real Estate Acquisitions & Dispositions, Real Estate Restructuring, Real Estate Workouts & Restructurings
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State Attorney General Insider
State Attorney General Insider is a newsletter on the latest notable cases and updates from within the State Attorneys General community.
Related Practice(s): Global Litigation, State Attorneys General Practice
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Podcasts
Our podcasts delve into the legal trends shaping global business – from financial regulations to fund finance, investigations and more.
Videos
Implementing the LIBOR Act: The Federal Reserve’s Final Rule
January 13, 2023With the pending cessation of panel LIBOR on June 30, 2023, the LSTA’s Tess Virmani and Meredith Coffey recorded a video with Cadwalader partners Lary Stromfeld and Jeff Nagle that discusses the LIBOR transition, synthetic LIBOR, how the LIBOR Act and Final Rule may fit into remediation plans, and how LSTA members might consider analyzing their credit agreements for remediation. You can access the video and slides here.
Related Attorney(s): Lary Stromfeld, Jeffrey Nagle
Related Practice(s): LIBOR Transition Team
LIBOR Before Labor Day (2022 Edition)
August 26, 2022Cadwalader partner Jeff Nagle discusses the latest in LIBOR transition in another installment of FFF: Industry Conversations.
Related Attorney(s): Jeffrey Nagle
Related Practice(s): LIBOR Transition Team
Finance Forum Focus Series: Spotlight on LIBOR Transition
October 20, 2021In this installment of our Finance Forum Focus Series, Cadwalader partners Lary Stromfeld and Jeffrey Nagle discuss the latest LIBOR transition developments.
Related Attorney(s): Lary Stromfeld, Jeffrey Nagle
Related Practice(s): LIBOR Transition Team
