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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
How SUPPORT Will Affect Pharma Interactions With DEA
Oct. 29, 2018Law360
This article discusses a few of the more important provisions that are anticipated to affect the pharmaceutical industry in its interactions with the U.S. Drug Enforcement Administration.
Related Practice(s): Pharmaceutical Regulation and Compliance
Related Office(s): Washington
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Frivolous and Bad Faith Claims: Defense Strategies in Employment Litigation
Sep 26, 2018LexisNexis Practice Advisor
The authors provide guidance on defending frivolous and bad faith claims in employment actions. While the article generally covers federal employment law claims, many of the strategies discussed also apply to state employment law claims. (Note: This excerpt from Lexis Practice Advisor®, a comprehensive practical guidance resource providing insight from leading practitioners, is reproduced with the permission of LexisNexis. Reproduction of this material, in any form, is specifically prohibited without written consent from LexisNexis.)
Related Practice(s): Global Litigation
Related Office(s): New York
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The Taxation of CRE-CLOs
Sep 5, 2018Bloomberg Tax
Jason Schwartz, Gary Silverstein, and Daniel Ng discuss the tax considerations applicable to the growing market for commercial real estate collateralized loan obligations (CRE-CLOs). The authors analyze CRE-CLO structures that can be used for securitizing pools of assets that are inappropriate for acquisition by a real estate mortgage investment conduit (REMIC).
Related Practice(s): CLOs, Tax
Related Office(s): New York
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Events
LendIt Fintech Europe 2018
Nov. 19-20, 2018Cadwalader partner Jeremiah Wagner will be moderating the "Securitization and Capital Structures: Trends in the US and Europe" panel at LendIt Fintech Europe 2018. This panel will take place on Tuesday, November 20th as a part of the Investing & Entrepreneurship Track.
Related Practice(s): Commercial Mortgage-Backed Securities, Securitization & Asset Based Finance, Structured Products
Related Office(s): London
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Corporate & Securities Practice Group and Association of Corporate Counsel Networking Social: Cocktails With Cadwalader!
Nov. 27, 2018Join Cadwalader's Corporate team and the Association of Corporate Counsel for an evening of cocktails and hors-d'oeuvres at Cibar on November 27th. We hope you can make it to network with colleagues and meet members of Cadwalader’s Corporate team.
Related Practice(s): Corporate
Related Office(s): New York
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Clients & Friends Memos
Rightsizing Regulation: U.S. Banking Agencies Release “Tailoring” Proposals and Regional Banks Are the Winners
Nov 05, 2018Last week, the federal banking agencies issued two notices of proposed rulemaking designed to lessen regulatory requirements on small and regional banking organizations. Together, these two proposals would establish a revised framework for applying prudential, capital, and liquidity standards to large U.S. banking organizations based on risk, consistent with the mandate imposed by Congress in the Economic Growth, Regulatory Relief, and Consumer Protection Act (the “Relief Act”) enacted earlier this year.
Related Practice(s): Bank Regulation, Corporate, Financial Regulation
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Forward Movement in the Bureau of Consumer Financial Protection’s Student Loan Litigation: What This Means for Securitization
Nov 02, 2018In September 2017, the Bureau of Consumer Financial Protection brought an enforcement action against the National Collegiate Student Loan Trusts for alleged violations of consumer financial protection laws in connection with student loan debt collection practices. The action, titled Consumer Financial Protection Bureau v. The National Collegiate Student Loan Master Trust, was brought in the United States District Court for the District of Delaware.
Related Practice(s): Global Litigation, Securitization & Asset Based Finance
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M&A Update: Delaware Supreme Court Clarifies the “Ab Initio” Requirement for Business Judgment Review of Controlling Stockholder Transactions in Flood v. Synutra
Nov 02, 2018In Flood v. Synutra Int’l Inc., the Delaware Supreme Court clarified its holding in Kahn v. M&F Worldwide Corp. (“MFW”). In MFW, the Court held that the business judgment rule—rather than the entire fairness standard—applies to a controlling stockholder transaction if such transaction is conditioned “ab initio,” or at the beginning, upon approval of both an independent special committee of directors and the informed vote of a majority of the minority stockholders (the “MFW Conditions”). At issue in Flood was whether the Court of Chancery properly applied the business judgment rule to a controlling stockholder acquisition of Synutra International even though the controlling stockholder did not include the MFW Conditions in its initial proposal to acquire Synutra, but instead included such conditions in a follow-up letter sent two weeks later. Chief Justic
Related Practice(s): Corporate, Mergers & Acquisitions
Related Office(s): New York
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Blogs & Newsletters
Antitrust and Financial Services
United States CFTC fines Bank of America for ISDAfix manipulation
Oct 12, 2018
On 20 September 2018, the United States Commodity Futures Trading Commission (CFTC) ordered Bank of America, N.A (Bank of America) to pay a $30 million civil penalty to settle charges of manipulation of the ISDAfix interest rate benchmark.
Related Practice(s): Antitrust, Antitrust & Financial Services, Global Litigation
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London court sentences two former traders for Euribor manipulation
Aug 13, 2018
On 19 July 2018, as a result of a prosecution brought by the Serious Fraud Office (SFO), a London court sentenced two former traders, Phillipe Moryoussef and Christian Bittar, to eight years and five years in prison for conspiracy to defraud by manipulation of the ‘Euribor’ interest rate benchmark. It follows similar convictions in relation to ‘Libor’ manipulation in 2015 and 2016.
Related Practice(s): Antitrust, Antitrust & Financial Services, Global Litigation
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UK Payment Systems Regulator to Review Card-acquiring Services
Aug 07, 2018
On 24 July 2018, the UK Payment Systems Regulator (PSR) announced its intention to conduct a market review into card-acquiring services in the UK. The review could involve significant consequences for UK payment card schemes and acquirers in terms of regulatory changes and antitrust sanctions.
Related Practice(s): Antitrust, Antitrust & Financial Services, Global Litigation
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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
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
One Person, One Vote?
Sep 26, 2018Guest speakers Natasha Merle, Senior Counsel, NAACP Legal Defense and Educational Fund; Deuel Ross, Assistant Counsel, NAACP Legal Defense and Educational Fund; and Wendy Weiser, Director of the Democracy Program at Brennan Center for Justice, NYU School of Law, joined us for a discussion about voting rights, political gerrymandering and voter suppression.
Related Attorney(s): Patrick Quinn
Reports from the Trenches
July 25, 2018The firm's July 25 Civil Rights Series event, "Reports from the Trenches,” featured Vanita Gupta, President and CEO of the Leadership Conference on Civil and Human Rights, and Rachel Tiven, CEO of Lambda Legal. The guest speakers discussed the most pressing civil rights issues of 2018, including immigration, the recent supreme court nomination and voting rights.
Related Attorney(s): Patrick Quinn, Anne Tompkins
Related Page(s): Diversity & Inclusion