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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.
Earlier 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.
Last 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.
In 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.
Cadwalader associate Charlotte Glaser will speak at AIJA's "The Crypto Revolution: A dive into the world of cryptocurrencies, blockchains and NFTs" seminar in Vaduz.
Cadwalader partner Peter Malyshev will be a featured speaker at the Developments in the Regulation of Financial Products Conference.
In 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.
Three 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.
Following 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.
BrassTax is a monthly newsletter that provides clear and concise insights on important tax developments.
Cabinet News & Views is a weekly newsletter covering news in the financial services industry.
Cadwalader Climate is a twice-weekly newsletter that summarizes and provides the legal implications of climate-related developments.
Fund Finance Friday is a weekly market intelligence update for the fund finance market from Cadwalader.
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.
State Attorney General Insider is a newsletter on the latest notable cases and updates from within the State Attorneys General community.
Our podcasts delve into the legal trends shaping global business – from financial regulations to fund finance, investigations and more.
With 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.
In this installment of our Finance Forum Focus Series, Cadwalader partners Lary Stromfeld and Jeffrey Nagle discuss the latest LIBOR transition developments.