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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
Cadwalader’s Michael Mascia, Wesley Misson Co-Author Chapter in Fund Finance 2019
Mar 15, 2019Fund Finance 2019
Cadwalader Finance Group co-chair Michael Mascia and partner Wesley Misson are co-authors of the “Lending to Separately Managed Accounts” chapter in the recently released Fund Finance 2019, a comprehensive guide to the fund finance market published by Global Legal Insights. Mascia is also a contributing editor of Fund Finance 2019.
Related Practice(s): Fund Finance, Securitization & Asset Based Finance
Related Office(s): Charlotte
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Cadwalader’s Brian Foster, Samantha Hutchinson Co-Author Chapter in Fund Finance 2019
Mar 15, 2019Fund Finance 2019
Cadwalader partners Brian Foster and Samantha Hutchinson are co-authors of “The Rise of Private Equity Secondaries Financings.” a chapter in the recently released Fund Finance 2019, a comprehensive guide to the fund finance market published by Global Legal Insights.
Related Practice(s): Fund Finance, Securitization & Asset Based Finance
Related Office(s): London, New York
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Cadwalader’s Jeremy Cross, Samantha Hutchinson and Mathan Navaratnam Co-Author Chapter in Fund Finance 2019
Mar 15, 2019Fund Finance 2019
Cadwalader partners Jeremy Cross and Samantha Hutchinson, with associate Mathan Navaratnam, are co-authors of the England & Wales chapter in the recently released Fund Finance 2019, a comprehensive guide to the fund finance market published by Global Legal Insights.
Related Practice(s): Fund Finance, Securitization & Asset Based Finance
Related Office(s): London
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Events
SIFMA's C&L Annual Seminar
Mar. 24-27, 2019Cadwalader is proud to sponsor SIFMA’s C&L Annual Seminar.
Related Practice(s): Financial Regulation, Global Litigation
Related Office(s): New York, Washington
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9th Annual Global Fund Finance Symposium
Mar. 24-26, 2019Cadwalader is proud to sponsor the 9th Annual Global Fund Finance Symposium where partner Samantha Hutchinson will be speaking on the "Anatomy of a Subscription Default” panel on Tuesday, March 26th.
Related Practice(s): Fund Finance
Related Office(s): Charlotte, London, New York
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CREFC Europe's After Work Seminar- Loan on Loan Transactions: Financing of CRE Mortgage Debt
Mar. 27, 2019Cadwalader is proud to host CREFC Europe's After Work Seminar on March 27th where partner Nick Shiren will be moderating a panel focusing on the loan on loan financing technique.
Related Practice(s): Securitization & Asset Based Finance
Related Office(s): London
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Clients & Friends Memos
Shareholder Engagement with UK Companies – Proposed Changes to the Stewardship Framework
Mar 11, 2019Two UK regulatory bodies are currently consulting on changes to their shareholder engagement or stewardship rules. The FRC is consulting on a revised version of its Stewardship Code and the FCA is consulting on its proposals implementing the shareholder engagement requirements of the EU’s Revised Shareholder Rights Directive.
Related Practice(s): Corporate
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The Digital Revolution Takes on New Meaning: Among Calls for Heightened U.S. Data Privacy Measures, California is King
Mar 01, 2019California’s ambitious new data privacy law, the California Consumer Privacy Act of 2018 (“CCPA”), will go into effect on January 1, 2020 and promises to bring a new era of digital regulation to America’s shores. Financial institutions that just navigated their way through implementing the European Union’s General Data Protection Regulation (“GDPR”), which became effective in May 2018, may be uneasy about the prospect of complying with yet another new data privacy compliance regime. They will find some comfort in the fact that many of the systems and processes designed for GDPR compliance will serve their needs under the CCPA as well. However, between now and the go-live date of the CCPA, U.S. federal and state laws and regulations are likely to continue to evolve and expand, and financial institutions will need to prepare for CCPA implementation while staying abreast of other fast-moving developments.
Related Practice(s): Cybersecurity and Data Protection, Securitization & Asset Based Finance, White Collar Defense and Investigations
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SEC Adopts Final Rules for Disclosure of Hedging Policies
Feb 27, 2019The U.S. Securities and Exchange Commission (the “SEC”) approved a final rule on December 18, 2018 implementing Section 955 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). The new rule will require a public company to disclose whether, and to what extent, it has adopted practices or policies regarding the ability of employees, officers, and directors to engage in certain hedging transactions with respect to the company’s equity securities.
Related Practice(s): Corporate, Mergers & Acquisitions, Private Equity
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Blogs & Newsletters
Antitrust and Financial Services
European Commission Extends FX Scrutiny to FX Options
Feb 22, 2019
On 19 February 2019, HSBC reported that the European Commission is investigating “potential coordination in [FX] options trading”. The announcement signals an extension of the Commission’s long-running antitrust scrutiny into FX markets.
Related Practice(s): Antitrust, Antitrust & Financial Services
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FCA Issues First Ever Fine Against Individual Based on Antitrust Misconduct
Feb 06, 2019
On 4 February 2019, the UK Financial Conduct Authority (FCA) imposed a £32,000 fine on Paul Stephany, a former fund manager at Newton Investment Management Ltd. (Newton), for attempted bid-rigging in the context of the book-building processes for an IPO (by On The Beach Group plc) and a share placement (by Market Tech Holdings Limited) in 2015.
Related Practice(s): Antitrust, Antitrust & Financial Services, Antitrust Compliance & Counselling, Antitrust Investigations, Antitrust Litigation & Disputes, Global Litigation, Merger Clearance
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Swiss Competition Commission Investigates Mobile Payment Apps
Nov 27, 2018
On 15 November 2018, the Swiss Competition Commission, Comco, announced an investigation into whether various Swiss financial firms agreed to boycott Apple Pay and Samsung Pay, in order to protect rival mobile payments app, TWINT.
Related Practice(s): Antitrust, Global Litigation
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BrassTax
BrassTax
Mar 21, 2019
BrassTax is a monthly market intelligence update providing clear, concise insights on important recent developments that impact our transactional practices coupled with thought-provoking practical implications.
Related Practice(s): Corporate Taxation, Mergers & Acquisitions Taxation, Restructurings & Bankruptcies Taxation, Securitization & Structured Products Taxation, Tax, Tax Controversy
Related Office(s): London, New York, Washington
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FCPA Advisor
US and UK Regulators Speak Out on Anti-Corruption Enforcement Trends and Priorities
Dec 06, 2016
A number of key trends and priorities in international anti-corruption enforcement emerged last week at the 33rd ACI International Conference on the Foreign Corrupt Practices Act, held November 29 – December 2 outside of Washington, DC. Leading prosecutors and regulators from the US and UK described skyrocketing international law enforcement coordination, announced both “sticks” and “carrots” to encourage self-disclosure and cooperation, and pledged again to hold individuals accountable for anti-corruption violations. Officials from the Department of Justice (DOJ), the Securities and Exchange Commission (SEC), and the UK Serious Fraud Office (SFO) repeatedly emphasized these points in both their prepared remarks and their responses to questions.
Related Practice(s): FCPA Enforcement and Compliance, White Collar Defense and Investigations
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Paper Tigers: Recent Settlements Show Companies Operating in China Need to Do More to Enforce FCPA Policies
Mar 02, 2016
Amid a recent flurry of Foreign Corrupt Practices Act (“FCPA”) settlements announced by the U.S. Department of Justice (“DOJ”) and U.S. Securities and Exchange Commission (“SEC”) were two settlements relating to the provision of improper gifts, hospitality and travel to Chinese government officials.
Related Practice(s): FCPA Enforcement and Compliance, White Collar Defense and Investigations
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Eleventh Circuit Defines “Instrumentality” Broadly Under the FCPA
May 19, 2014
On May 16, the Court of Appeals for the Eleventh Circuit became the first federal appellate court to define an important element of the Foreign Corrupt Practices Act (“FCPA”) – what constitutes an “instrumentality” of a foreign government and, thus, who is a foreign official. In United States v. Esquenazi,1 a three-judge panel adopted a broad, fact-based definition of that term. Affirming the criminal convictions of both appellants, the court held that, in order to satisfy the statute, an “instrumentality” had to be an entity that both (1) is controlled by a foreign government and (2) performs a function that the foreign government “treats as its own.” The court provided clear guidance to trial judges and juries by setting out the critical elements to be determined when applying the two-pronged test.
Related Practice(s): FCPA Enforcement and Compliance
Related Office(s): New York
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Fund Finance Friday
Welcome to Miami!
Mar 22, 2019
Gear up for the 9th Annual Global Fund Finance Symposium with this week's issue of Fund Finance Friday.
Related Practice(s): Fund Finance
Related Office(s): Charlotte, London, New York, Washington
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Overcall Limitations and LIBOR Replacement in Fund Finance
Mar 15, 2019
In this week's Fund Finance Friday: Overcall Limitations and LIBOR Replacement in Fund Finance.
Related Practice(s): Fund Finance
Related Office(s): Charlotte, London, New York, Washington
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Fund Finance Promotion Week
Mar 08, 2019
In this week's Fund Finance Friday: Opinions and news on Subscription Facilities plus more Fund Finance events announced for 2019.
Related Practice(s): Fund Finance
Related Office(s): Charlotte, London, New York, Washington
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Women in the City Program
Update - October 2016
Oct 14, 2016
How can more women be encouraged into funds?
This question was debated by a panel of women leaders in the investment fund industry at Cadwalader's second Women in the City debate. The programme of discussions is designed to inspire more women to take leadership roles in their organisations by offering open dialogue, useful insights and practical guidance. Cadwalader hosted a large group of clients and colleagues over breakfast for a very lively panel discussion entitled "Women in Investment Funds: A Fundamental Advantage: Building Female Talent in the Investment Management Sector".
Related Office(s): London
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Update - August 2016
Aug 04, 2016
What skills do women need to be successful leaders?
This question was debated by a panel of high profile female leaders at the recent launch of Cadwalader's Women in the City Programme, a series of seminars designed to inspire more women to take leadership roles in their organisations by offering open dialogue, useful insights and practical guidance.
Related Office(s): London
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Videos
"Life After LIBOR: What Financial Institutions Need to Know and Do"
Feb 26, 2019Lary Stromfeld discusses "Life After LIBOR: What Financial Institutions Need to Know and Do."
Related Attorney(s): Lary Stromfeld
Related Practice(s): Bank Regulation, Derivatives & Structured Products, Financial Regulation, LIBOR Preparedness Team, Securitization & Asset Based Finance
#MeToo #YearTwo
Feb 6, 2019Our 2019 Civil Rights Series opened with guest speakers Carmelyn Malalis, Chair and Commissioner of the New York City Commission on Human Rights, and Suzanne Goldberg, Herbert and Doris Wechsler Clinical Professor of Law at Columbia Law School, joining us for a discussion of the #MeToo Movement.
Related Attorney(s): Patrick Quinn
Related Page(s): Diversity & Inclusion
CBLA Hosts Brooklyn DA Eric Gonzalez as Part of Firm's Hispanic Heritage Month Celebration
Oct 10, 2018Cadwalader's Black and Latino Association (CBLA) hosted Brooklyn District Attorney Eric Gonzalez as part of the firm's Hispanic Heritage Month celebration. Mr. Gonzalez discussed his career as the first elected Latino District Attorney in New York State, criminal justice reform and his groundbreaking initiative, Justice 2020.
Related Page(s): Diversity & Inclusion