More than a year ago the world fell victim to a global pandemic that would change life in ways that could never have been predicted. In the early stages of the pandemic, we published a White Paper directed at financial...more
The Situation: The Commodity Futures Trading Commission ("CFTC") has established a new unit dedicated to addressing climate risk in the financial system, providing yet another example of financial services regulators...more
Consistent with New York's status as a financial services and technology hub, the New York State Department of Financial Services (the "NY DFS") announced on July 23, 2019 a new Research and Innovation Division (the...more
8/16/2019
/ Banking Sector ,
BitLicense ,
Cybersecurity ,
Financial Fraud ,
Financial Services Industry ,
FinTech ,
Market Participants ,
NYDFS ,
Popular ,
Regulatory Oversight ,
Virtual Currency
The Situation: Following its recent joint statement on opportunistic strategies in the credit derivatives market with the U.S Securities and Exchange Commission ("SEC"), the United Kingdom's Financial Conduct Authority...more
7/18/2019
/ CFTC ,
Credit Default Swaps ,
Derivatives ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
IOSCO ,
Market Participants ,
Policies and Procedures ,
Regulatory Authority ,
Securities and Exchange Commission (SEC) ,
Swap Dealers
Recent laws—such as the 2016 Sapin 2 Law and the new EU General Data Protection Regulation—provide for rules that are intended to ensure compliance with the French Blocking Statute, which prohibits any French party from...more
6/18/2019
/ Blocking Statutes ,
Cross-Border ,
Data Protection ,
Discovery ,
Document Productions ,
Evidence ,
Extraterritoriality Rules ,
France ,
General Data Protection Regulation (GDPR) ,
Hague Convention ,
Litigation Strategies ,
Regulatory Standards
ISDA proposes "de facto" category of original issue indebtedness as part of its CDS definitional reforms.
On May 24, 2019, the International Swaps and Derivatives Association ("ISDA") published another credit default swap...more