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, 2018

LexisNexis

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 Attorney(s): David Quirolo, Jeremiah Wagner, Neil Macleod
Related Practice(s): Securitization & Asset Based Finance
Related Office(s): London
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International Arbitration Roundtable

June 13, 2018

Financier 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 Attorney(s): Melis Acuner, Emma Farrow
Related Practice(s): International Dispute Resolution
Related Office(s): London
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Yahoo Settlement Changes SEC Expectations on Cyber Disclosure

June 4, 2018

Bloomberg 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 Attorney(s): Joseph Moreno, Kyle DeYoung, Keith Gerver, Alexander Hokenson, Stephen Weiss
Related Practice(s): White Collar Defense and Investigations
Related Office(s): Washington
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Events

Celebrate Pride 2018 With Us!

June 21, 2018

Join 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.

Related Office(s): New York
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Managed Funds Association's Forum 2018 Conference

June 21, 2018

Cadwalader 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 Attorney(s): Steven Lofchie
Related Practice(s): Financial Regulation
Related Office(s): New York
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SFIG Legal Counsel Forum 2018

June 27, 2018

Partner 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 Attorney(s): Scott Cammarn, Neil Weidner
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, 2018

On 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 Attorney(s): Stephen Day, David Quirolo, Nick Shiren, Jeremiah Wagner, Suzanne Bell, Robert Cannon, Neil Macleod
Related Practice(s): Securitization & Asset Based Finance
Related Office(s): London
read more »

A Look at the Proposal to Simplify the Volcker Rule

May 31, 2018

On 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 Attorney(s): Scott Cammarn, Mark Chorazak
Related Practice(s): Financial Regulation
Related Office(s): Charlotte, New York
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Bank Deregulation Bill Becomes Law

May 25, 2018

Yesterday, 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 Attorney(s): Scott Cammarn, Mark Chorazak
Related Practice(s): Bank Regulation, Financial Regulation
read more »

Blogs & Newsletters


Recent Blog Postings


Health Care Fraud Focus

A Crack in the Armor: Fifth Circuit Court of Appeals Gives Green Light to Enjoining Medicare Recoupments Pending Provider’s Long-Delayed Administrative Appeal

Apr 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 Fraud

Mar 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 Crisis

Jan 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…



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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 Attorney(s): Vincent Brophy, Tom Bainbridge
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 Attorney(s): Vincent Brophy, Tom Bainbridge
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 Attorney(s): Brian Wallach
Related Practice(s): Antitrust, Antitrust & Financial Services, Antitrust Compliance & Counselling, Antitrust Investigations, Antitrust Litigation & Disputes, Merger Clearance
Related Office(s): New York, Washington
read more »

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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 Attorney(s): J. Robert Duncan, James Treanor
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 Attorney(s): James Treanor
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 Attorney(s): Jodi Avergun
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 Attorney(s): Jeremiah Wagner
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 Attorney(s): Ingrid Bagby
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 Attorney(s): Gregory Petrick
Related Office(s): London
read more »

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Videos

Moreno Video Summarizes Legal Obligations Associated with Ransomware and Other Cyber Attacks

May 1, 2018

Cadwalader 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, 2018

Our 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, 2018

Our 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

CadwaladerNews

CadwaladerSpotlight

June 27: SFIG Legal Counsel Forum 2018

Partners Scott Cammarn and Neil Weidner will be speaking at this event in New York City.

Cadwalader's research and intelligence platform provides analysis on changes in U.S. financial regulation. Subscribers receive a daily newsletter interpreting new laws, rules and enforcement actions that impact financial institutions.