Committee Activity in Review

As published in the NY Business Law Journal:

Summer 2012 NY Business Law Journal
Derivatives and Structured Products Law Committee

The Derivatives and Structured Products Law Committee kept its members informed of the constantly changing Dodd-Frank regulatory proposals to reshape the industry’s structure, eligible participants, trading, clearing and valuation. The committee heard from Securities and Exchange Commission staff members on securities-based swaps and clearing issues and from leading attorneys on netting arrangements on changes overseas and segregation and posting of customer swaps collateral under Dodd-Frank, and the committee provided robust opportunities for members to share ideas amongst themselves. In this more participatory forum, constituent input helped shape the direction of this valuable committee on a variety of other relevant topics, including the proposed 871(m) regulations from the Treasury regarding dividend payments, as well as the Foreign Account Tax Compliance Act.

-- Daniel N. Budofsky, Chair

Winter 2011 NY Business Law Journal
Derivatives and Structured Products Law Committee

The Derivatives and Structured Products Law Committee has held several meetings on the ways in which the Wall Street Reform and Consumer Protection (“Dodd- Frank”) Act and the regulations promulgated under it have affected practice. The most recent meeting of the committee considered recent regulatory developments affecting structured products, fiduciary standards proposed for broker dealers, and the backtesting of data on customer indexes and client communications under FINRA’s recent rule proposals. The committee had a meeting at which members of the Securities and Exchange Commission staff discussed these developments. The meeting prior to that heard from Securities and Exchange Commission staff members on that agency’s considerations under Dodd-Frank. The committee is looking to invite representatives of the Commodity Futures Trading Commission to discuss its regulations and releases.

---Daniel Budofsky, Chair