Paul Forrester quoted on the securitization market. “There are still many questions that need to be analyzed and understood about the role of asset-backed securities in the financial crisis,” he said.
The Financial Services Authority (the “FSA”) yesterday published the “Turner Review Conference Discussion Paper – A regulatory response to the global banking crisis: systemically important banks and assessing the cumulative impact” (the “Discussion Paper”).
The European Commission (the “Commission”) has today published a communication titled “Ensuring efficient, safe and sound derivatives markets: future policy actions”. The communication announced the future policy actions for derivatives planned by the Commission in 2010.
9 October 2009 – The 2010 edition of IFLR1000, a guide to the world’s leading financial law firms, ranked Mayer Brown in 15 practice categories. Four practices were given top-tier rankings: Hong Kong Restructuring & Insolvency; Thailand Restructuring & Insolvency; United States Capital Markets – Structured Finance & Securitization; and Vietnam Banking & Finance. In addition, 26 partners were ranked as leading lawyers. IFLR1000 rankings are based on extensive independent research, and provides analysis of the best financial law firms operating in more than 100 markets worldwide.
We have previously written about legislative and regulatory developments facing the over-the-counter (OTC) derivatives market. These development include
a number of bills introduced in Congress as well as the framework outlined by the Department of the Treasury in the June white paper, “Financial Regulatory Reform: A New Foundation,” for a new regulatory regime for OTC derivatives to be implemented by legislation.
Over-the-counter (OTC) derivatives have drawn a heavy dose of politicians’ ire during the current financial downturn. In a previous update discussing regulatory developments facing the OTC derivatives market, we described a number of Congressional Committee bills and a framework outlined by the Secretary of the U.S. Department of the Treasury, upon which the Obama Administration expects Congress to build a new regulatory regime for OTC derivatives.
12 June 2009 - Mayer Brown LLP, a leading global law firm, announced today that 124 of its attorneys are ranked in the 2009 edition of Chambers USA: America’s Leading Lawyers for Business, including 32 who achieved top-band ranking or higher in 26 national and/or state categories.
June 4, 2009 - Mayer Brown LLP, a leading global law firm, announced today that the 2009 edition of Legal 500 United States ranks the firm’s practices in 24 categories, including top-tier rankings in five categories.
Catastrophes occurring in 2008 caused $26 billion in direct insured losses to property. Catastrophe risk is typically spread through direct insurance coverage provided by primary insurers and then through reinsurance provided by global reinsurers and insurance-linked securities (cat bonds) to investors.
The over-the-counter (OTC) derivatives market is increasingly the focus of the U.S. legislative agenda. While the flurry of bills and pronouncements have done little to add substance to that framework, they have made one thing abundantly clear: OTC derivatives will be subject to a new regulatory landscape. One common thread among all is transparency; however, the road to achieving that is rife with blind corners.
6 October 2008 - We are transmitting to our clients and friends an announcement just posted by the US Treasury Department containing three solicitations for financial agents to provide services that are needed for the effective implementation of the Troubled Asset Relief Program (TARP) authorized under the Emergency Economic Stabilization Act (EESA).
On October 3, 2008, President Bush signed the Emergency Economic Stabilization Act of 2008 (the "EESA" or the "Act") into law. After a failed vote in the US House of Representatives on Monday, the US Senate passed the legislation on Wednesday as amended to increase temporarily deposit insurance overage and to provide numerous tax benefits.
24 September 2008 - In a major departure from prior precedent, New York Governor David A. Paterson announced on September 22, 2008, that the New York State Insurance Department (the “Department”) would start regulating certain types of credit default swaps (CDSs) as insurance.
18 September 2008 - There is a great deal of activity in the derivatives markets, with significant ramifications for managing derivatives exposure. The following presents an overview of the current issues relating to Lehman, Fannie Mae and Freddie Mac, Tembac and AIG.
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