Blogs & Newsletters

Antitrust and Financial Services

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 Attorney(s): Vincent Brophy, Tom Bainbridge
Related Practice(s): Antitrust, Global Litigation
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UK CMA Opens Antitrust Investigation Into ‘Bond Trading’

Nov 19, 2018


On 16 November 2018, the UK Competition & Markets Authority (CMA) announced that it had opened an investigation into suspected anti-competitive arrangements in the financial services sector that may infringe Chapter I (CA 1998) or Article 101 (TFEU).


Related Attorney(s): Vincent Brophy, Tom Bainbridge
Related Practice(s): Antitrust, Antitrust & Financial Services, Antitrust Compliance & Counselling, Antitrust Investigations, Antitrust Litigation & Disputes, Global Litigation, Merger Clearance
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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 Attorney(s): Vincent Brophy, Tom Bainbridge
Related Practice(s): Antitrust, Antitrust & Financial Services, Global Litigation
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BrassTax

BrassTax

Dec 12, 2018


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 Attorney(s): Linda Swartz, Jason Schwartz, Mark Howe, Adam Blakemore, Edward Wei, Gary Silverstein
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 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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Fund Finance Friday

Fund Finance Friday

Jan 18, 2019


Fund Finance Friday is a weekly market intelligence update for the fund finance market from Cadwalader.


Related Attorney(s): Michael Mascia, Wesley Misson, Jeremy Cross, Tim Hicks, Kurt Oosterhouse, Samantha Hutchinson
Related Practice(s): Fund Finance
Related Office(s): Charlotte, London, New York, Washington
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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
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CadwaladerSpotlight

February 4 | PLI's CMBS and the Real Estate Lawyer 2019: Lender and Borrower Issues in the Capital Market | New York

Jeffrey Rotblat will discuss "Accumulation/Aggregation/Alternative Exit Strategies" at this event.

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.