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The next milestone date in the Commodity Futures Trading Commission’s (“CFTC’s”) phase-in of mandatory clearing occurs on June 10, 2013, when so-called “Category 2 entities” must begin clearing swaps subject to the mandate. Securitization vehicles, insurers, investment funds and non-swap dealer financial institutions will generally be Category 2 entities. The effect of the June 10 phase-in on the operations of securitization vehicles, in particular, is unclear.

Mayer Brown, a leading global law firm, received three Tier 1 rankings in the 2013 edition of Managing Intellectual Property magazine’s “World IP Handbook and Survey,” an annual reference guide that provides a state-by-state analysis of the IP market based on extensive research among IP professionals. The firm was top ranked in:

• Patent Contentious – New York and Washington, DC; and
• IP – Illinois.

In this issue: China: China Insurance Regulatory Commission raises cap for domestic investors in insurers; China: Insurers must implement new anti-money laundering rules by 2015; Hong Kong: Effect of new data privacy rules on direct marketing by insurance companies; Hong Kong: Launch of Risk-based Capital Model; Myanmar: Update on Insurance Industry; Singapore: Amendments to the Insurance Act; Singapore: Financial Holding Company Act 2013; UK: Chief Executive of the Prudential Regulation Authority ("PRA") voices concerns over the implementation of the Solvency II directive; UK: Director of Supervision for the FCA delivers speech on the importance of culture as the driving behaviour of firms and how the FCA will assess this; US: NAIC Spring 2013 National Meeting; US: Update on the NAIC Solvency Modernization Initiative (E) Task Force and its Working Groups; US: Reinsurance (E) Task Force and the NAIC List of Qualified Jurisdictions; US: Federal Home Loan Bank Legislation (E) Subgroup; US: Mortgage Guaranty Insurance (E) Working Group; US: President Obama's 2014 Fiscal Year Budget Proposes Deduction for Reinsurance Premiums Paid to Non-US Affiliates; Argentina: Amendments to Argentinean Insurance Laws

Mayer Brown, a leading global law firm, advised Reinhold Industries, Inc., on its definitive agreement to be acquired by HEICO Corporation from certain affiliates of The Jordan Company, L.P., a New York-based investment firm, and Reinhold management. Terms of the transaction were not disclosed.

Securities Litigation & Enforcement partner Richard Rosenfeld (New York) is quoted in an article discussing how US regulators are tightening their scrutiny of accountants.

Litigation & Dispute Resolution partner Hank Bullock and associate Andrew Calica (both New York) are mentioned as representing Schwarz Pharma Inc. in an article reporting that an Iowa appeals court affirmed that a user of generic Reglan can hold neither brand-name nor generic manufacturers of the digestion drug liable for her involuntary movement disorder.

On April 16, 2013, in Morning Mist Holdings Ltd. v. Krys (In re Fairfield Sentry Ltd.),1 the US Court of Appeals for the Second Circuit issued an important decision informing fundamental concepts of cross-border insolvency law as implemented pursuant to Chapter 15 of the Bankruptcy Code.

Mayer Brown, a leading global law firm, secured a victory before the US Court of Appeals for the Federal Circuit on behalf of Glaxo Group Ltd. and GlaxoSmithKline (GSK) in a patent infringement suit brought by Biogen Idec Inc. and Genentech Inc. In the suit, the plaintiffs alleged that GSK’s monoclonal antibody cancer treatment, ARZERRA®, infringed their patent relating to the treatment of chronic lymphocytic leukemia (CLL) through administration of an anti-CD20 antibody. ARZERRA® is the first FDA approved fully human monoclonal antibody for the treatment of CLL and competes with Genentech’s cancer treatment Rituxan®.

Mayer Brown, a leading global law firm, announced today that Michael Martinez has joined the firm in New York as a partner in its Litigation & Dispute Resolution practice and White Collar Defense & Compliance group. Previously, he was the Executive Assistant United States Attorney in the US Attorney’s Office for the District of New Jersey, the office’s third-highest ranking position.

Litigation & Dispute Resolution partner Hank Bullock (New York) is profiled in a Law360 Q&A feature.

A bylined article co-authored by Banking & Finance partners Barbara Goodstein and John Lawlor (both New York) examines three-party subordination and the recent Seventh Circuit case, Caterpillar Financial Services v. Peoples National Bank.

Banking & Finance partner Barbara Goodstein (New York) is quoted on the final version of supervisory guidance on leveraged lending published by federal banking regulators.