Committee Activity in Review

As published in the NY Business Law Journal:

summer 2016 NY BUSINESS LAW JOURNAL
DERIVATIVES AND STRUCTURED PRODUCTS LAW COMMITTEE

The Derivatives and Structured Products Law Com-mittee has had an active Winter/Spring season with respect to keeping up with the changing regulatory environment by arranging many opportune meetings for its members.  The Committee has facilitated CLE pro-grams in the areas of Cross-border Derivatives from a 
U.S. Law Perspective (hosted by Morrison & Foerster), the Evolving Professional Responsibility Issues Confronting Derivatives Lawyers (hosted by Sidley & Austin), the EU Rules on Margin for Non-cleared derivatives (hosted by Reed Smith), Security-Based Swaps and Beyond (hosted by Alston & Bird), an Update on Canadian Regulation on Derivatives and Futures (hosted by Stikeman El-
liot)  and  most recently the Development of Blockchain Technology for Derivatives and other Financial Transactions (hosted by Stroock & Stroock & Lavan).  All of these meetings have been well attended by enthusiastic participants.

- Ilene K. Froom, Chair

WINTER 2014 NY BUSINESS LAW JOURNAL
DERIVATIVES AND STRUCTURED PRODUCTS LAW COMMITTEE

The Derivatives and Structured Products Law Committee meets on a monthly basis from September through June of each year. The committee’s members are diverse and include lawyers from law firms, banks and hedge funds. The committee’s monthly meetings are generally hosted by law fi rms. The host firm provides a presentation, which usually includes CLE credit, on an area in derivatives. Past meeting topics include the 2014 Credit Derivatives Definitions, UCC and bankruptcy issues that relate to cleared derivatives, position limits, SEFs and the Volcker rule. In addition to being a source of education for current topics in the derivatives industry, these meetings provide a forum for dialogue on the changing legal landscape of derivatives. As many of those who attend these meetings are experienced derivatives attorneys, participants often raise thought-provoking questions and comments with the panelists. As new rules and regulations pertaining to derivatives continue to be issued, the Derivatives and Structured Products Law Committee continues to be an important resource for its members.

-- Ilene K. Froom, Chair 

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