Curtis Doty is a Banking & Finance partner in Mayer Brown’s New York office. His practice focuses on the structuring, negotiation, and regulatory and insolvency analysis of OTC derivatives transactions. Curtis has been deeply involved in regulatory matters related to the CFTC’s implementation of the Dodd-Frank Title VII reforms, including as drafting counsel to ISDA on the ISDA Derivatives/FX Prime Brokerage Business Conduct Allocation Protocol, the November 2012 ISDA DF Disclosure, and numerous comment letters and requests for industry no-action relief.
Curtis’ recent transactional experience includes deal-contingent FX hedges related to cross-border private equity acquisitions, currency-indexed loans, hedges of convertible stock positions through total return and conversion ratio swaps, multiparty and other customized give-up agreements related to FX prime brokerage and trading platforms, customized arrangements for collateralizing uncleared derivatives transactions, and balance guaranteed swaps between dealer banks and rated securitization issuers.
In the insolvency area, Curtis advises financial institutions on the insolvency treatment of specialized structures and counterparty types that are beyond the scope of Mayer Brown’s netting and collateral opinions rendered annually to ISDA, including with regard to dealers’ prime services offerings to hedge funds and matters implicating the commodity broker insolvency provisions of the Bankruptcy Code and the CFTC’s Part 190 rules.
- Developing and documenting customized arrangements for collateralizing uncleared derivatives transactions.
- Advice regarding the enforceability of closeout netting in connection with non-standard transaction structures and counterparty types.
- Assisting dealer banks in the drafting, negotiation and ratings agency review of balance guaranteed swaps and other hedging instruments with rated securitization issuers.
- Assisting dealer banks in connection with deal-contingent currency hedging arrangements related to cross-border M&A transactions.
- Developing and documenting multiparty and other customized give-up agreements related to FX prime brokerage.
- Analysis of the characterization of risk transfer arrangements related to reinsurance as Dodd-Frank Title VII swaps.
- Represented a US securities broker-dealer in the structuring and execution of monetization solutions for institutional clients holding sizable portfolios of auction-rate securities.
- Represented several NYSE and NASDAQ listed issuers in connection with own-share equity derivatives, including accelerated share repurchase transactions, convertible note hedging transactions, registered forward sale agreements and issuer stock lending arrangements.
Princeton University, PhD
Harvard University, AB, magna cum laude
Phi Beta Kappa
Stanford Law School, JD