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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
Criteria for Identifying STC Short-Term Securitisations
June 15, 2018LexisNexis
Banking and Finance analysis: David Quirolo and Jeremiah M Wagner (partners) and Neil Macleod (special counsel) in Cadwalader’s Capital Markets Group, point out that new criteria aimed at assisting the financial industry in its development of simple, transparent and comparable (STC) short-term securitisations may be too restrictive, and the regulatory benefits may not be sufficiently significant, for the criteria to be widely adopted.
This article was first published on Lexis®PSL Banking and Finance on 6 June 2018.
Related Practice(s): Securitization & Asset Based Finance
Related Office(s): London
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International Arbitration Roundtable
June 13, 2018Financier Worldwide Magazine
International arbitration has been a hive of activity in recent times, with the number and value of disputes referred to arbitration continuing to grow. Concurrently, the arbitration community has observed a number of fresh trends and developments, including demands for greater transparency in how arbitration is administered, support for third-party funding across major arbitration jurisdictions and an uptick in arbitration involving sovereign states. An increasingly important tool for international businesses, arbitration, for many, is evolving into the preferred method for dispute resolution across the globe.
Related Practice(s): International Dispute Resolution
Related Office(s): London
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Yahoo Settlement Changes SEC Expectations on Cyber Disclosure
June 4, 2018Bloomberg Law
Cadwalader's Joseph Moreno, Kyle DeYoung, Keith Gerver, Alexander Hokenson, and Stephen Weiss discuss the Yahoo settlement and changes to SEC expectations on cyber disclosure.
Related Practice(s): White Collar Defense and Investigations
Related Office(s): Washington
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Events
Celebrate Pride 2018 With Us!
June 21, 2018Join the Cadwalader LGBT Network to Celebrate Pride 2018 and all of the progress made in LGBT history. The special event will take place on Thursday, June 21 at 6:00 pm in our New York office.
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Managed Funds Association's Forum 2018 Conference
June 21, 2018Cadwalader is proud to sponsor MFA's Forum Conference 2018. Forum 2018 is a focused networking, education and business development conference featuring the top allocators and managers in the alternative investments industry.
Related Practice(s): Financial Regulation
Related Office(s): New York
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SFIG Legal Counsel Forum 2018
June 27, 2018Partner Neil Weidner will be speaking on the panel, "What are the Limits of the LSTA Risk Retention Case." Partner Scott Cammarn will be speaking on the panel, "What's Going to Happen to the Volcker Rule for Securitization Transactions?"
Related Practice(s): Securitization & Asset Based Finance
Related Office(s): New York
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Clients & Friends Memos
The Basel Committee and IOSCO Issue Criteria to Identify “Simple, Transparent and Comparable” Short-Term Securitisations
Jun 01, 2018On 14 May 2018, the Basel Committee on Banking Supervision (the “Basel Committee”) and the Board of the International Organization of Securities Commissions (“IOSCO”) issued criteria for identifying “simple, transparent and comparable” (“STC”) short-term securitisations (the “Short-Term STC Criteria”).
Related Practice(s): Securitization & Asset Based Finance
Related Office(s): London
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A Look at the Proposal to Simplify the Volcker Rule
May 31, 2018On May 30, the Federal Reserve issued a proposal (the “Proposed Regulations”) to revamp regulations implementing the Volcker Rule, a centerpiece of the Dodd-Frank Act. The 373-page proposal, developed jointly with the other federal banking agencies and the Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) (collectively, the “Agencies”), comes four and a half years after the original regulations were adopted.
Related Practice(s): Financial Regulation
Related Office(s): Charlotte, New York
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Bank Deregulation Bill Becomes Law
May 25, 2018Yesterday, President Trump signed into law the most significant banking legislation since the enactment of the Dodd-Frank Act in 2010. The bill – named the Economic Growth, Regulatory Relief, and Consumer Protection Act – passed its final legislative hurdle earlier this week when it was approved by the U.S. House of Representatives. Identical legislation passed the U.S. Senate last March on a bipartisan basis. The law makes targeted, but not sweeping, changes to several key areas of the Dodd-Frank Act.
Related Practice(s): Bank Regulation, Financial Regulation
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Blogs & Newsletters
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Recent Blog PostingsHealth Care Fraud FocusA Crack in the Armor: Fifth Circuit Court of Appeals Gives Green Light to Enjoining Medicare Recoupments Pending Provider’s Long-Delayed Administrative AppealApr 05, 2018 In an important break with the majority of case precedents, the United States Court of Appeals for the Fifth Circuit, reversing the District Court below, held that a Medicare provider, facing a $7.6 million recoupment for alleged overpayments, can file suit in federal court and seek an injunction against ongoing recoupments, even though the provider... Continue Reading… Health Care Investors Beware: U.S. Attorney Sues Private Equity Firm For Portfolio Company’s Alleged Billing FraudMar 21, 2018 The U.S. Attorney for the Southern District of Florida recently intervened in a whistleblower lawsuit brought under the federal False Claims Act, alleging fraudulent billing by a pharmacy reimbursed by the federal government. (U.S. ex rel. Medrano v. Diabetic Care Rx, LLC, No. 15-cv-62617, S.D. Fla.) What makes this case significant is that the U.S. Attorney... Continue Reading… Judge Assigned to Opioid MDL Determined to “Solve” the Opioid CrisisJan 16, 2018 Northern District of Ohio Judge Dan Polster, boldly asserting that he would attempt to resolve the opioid crisis because federal, state and local governments had failed to do so — presided over a wide-ranging status conference on January 11 in the opioid MDL assigned to him. In November 2017, a panel of federal judges decided... Continue Reading… |
Antitrust and Financial Services
FX: Credit Suisse signals intention to contest the European Commission’s case
May 09, 2018
Manipulation of foreign exchange (FX) benchmarks has been one of the largest and longest-running probes into collusion between banks and related misconduct.
Related Practice(s): Antitrust, Antitrust & Financial Services, Antitrust Compliance & Counselling, Antitrust Investigations, Antitrust Litigation & Disputes, Merger Clearance
Related Office(s): Brussels, London
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UK LIBOR Claim for Antitrust Damages – Banks Apply to Strike Out
Apr 05, 2018
In what is understood to be the first LIBOR-related antitrust case in the UK (FDIC v Barclays and others), defendants have applied in the High Court in London to have the claims against them struck out.
Related Practice(s): Antitrust, Antitrust & Financial Services, Antitrust Compliance & Counselling, Antitrust Investigations, Antitrust Litigation & Disputes, Merger Clearance
Related Office(s): Brussels, London
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U.S. Antitrust Case Alleges Banks Manipulated Mexican Government Bond Market
Apr 03, 2018
On 30 March 2018, two U.S. pension funds filed the first U.S. class action alleging illegal coordinated conduct by and among authorized dealers of Mexican government bonds (MGBs).
Related Practice(s): Antitrust, Antitrust & Financial Services, Antitrust Compliance & Counselling, Antitrust Investigations, Antitrust Litigation & Disputes, Merger Clearance
Related Office(s): 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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Women in the City Program
Update - February 2017
Feb 14, 2017
What skills do women need to be successful leaders in the Fintech and alternative finance industry?
Can emerging companies offer an opportunity for women to do something different? Can technology revolutionise conventional financial services? These and other questions were debated by a panel of high profile leaders from the European FinTech and alternative finance industry to discuss opportunities and challenges for women in this growing area as part 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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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
Moreno Video Summarizes Legal Obligations Associated with Ransomware and Other Cyber Attacks
May 1, 2018Cadwalader partner Joseph Moreno, a member of the firm’s White Collar Defense and Investigations Group and head of the firm’s Cybersecurity and Data Protection practice, talks about what company management, boards and in-house legal departments need to know about the legal obligations associated with ransomware and other cyber attacks.
In Moreno’s view, “Ransomware victims may find that their exposure does not end once the technical aspect of an attack has been resolved. Companies could find themselves scrutinized by the Federal Trade Commission and other regulators based on why the ransomware attacked happened in the first place, whether the company did enough to prevent it and whether the company has an obligation to disclose it to customers and even the investing public.”
Related Attorney(s): Joseph Moreno
Related Practice(s): Cybersecurity and Data Protection, White Collar Defense and Investigations
Closing the Borders
Mar 8, 2018Our Civil Rights Series continued on March 8 with "Closing the Borders." Anthony Romero, Executive Director of the American Civil Liberties Union (ACLU), joined us to discuss DACA, the border wall, due process and citizenship.
Related Page(s): Civil Rights Series, Diversity & Inclusion
Still Marching Into Selma
Jan 31, 2018Our 2018 Civil Rights Series opened with guest speaker Richard Cohen, President of the Southern Poverty Law Center, discussing the organization's plans for 2018.
Related Page(s): Civil Rights Series, Diversity & Inclusion