Practice Areas & Industries: Cadwalader, Wickersham & Taft LLP


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"In areas where both innovation and deep knowledge matter, Cadwalader is proving the firm of choice for international banks. The firm's broker-dealer regulatory group remains one of the best in the U.S." – IFLR Americas

Honored with the 2014 IFLR Americas award for Financial Regulation Team of the Year, Cadwalader's financial regulatory group has experience in virtually all financial law-related statutory and regulatory requirements, including those governing broker-dealers, securities and futures exchanges, clearing corporations, banks, insurance, investment advisers, and funds and pension plans. We provide advice across the full range of transactions and compliance, including prime brokerage, clearing, financing, capital, compliance, examinations and enforcement, registration (both employee and firm), M&A, sales and trading across the spectrum of products, OATs and other trade reporting issues.

In light of this range of proficiency, our Chambers-, Legal 500-, and IFLR-ranked attorneys are increasingly called upon by businesses who need help navigating current and future regulatory challenges stemming from the global financial crisis. We help our clients understand the issues that will affect their industries, entities and transactions, including the impact of regulations and requirements of The Dodd-Frank Wall Street Reform and Consumer Protection Act and a wide variety of European Union Regulatory Reforms targeting investment business and market structures (MiFID II); alternative investment fund managers (AIFMD, the scope of which includes hedge funds, private equity and others operating outside the UCITS); central clearing and exchange-trading of derivatives (EMIR and MiFID II); market abuse and insider dealing (MAD II); capital regimes (CRD IV); and commodity derivatives traders (REMIT, MAD II and MiFID II).

Articles Authored by Lawyers at this office:

The European Central Bank Publishes Draft Guidance on Leveraged Transactions
Stephen Day,Neil Macleod,Claire Suzanne Puddicombe,David Quirolo,Nick Shiren, December 05, 2016
On 23 November 2016, the European Central Bank (the “ECB”) launched a public consultation in relation to draft guidance for Eurozone banks intended to develop clear and consistent definitions, measures and monitoring with regard to leveraged transactions. The draft guidance sets out how...

The Federal Reserve’s Proposed Rollback of Physical Commodities Authority for Financial Holding Companies
Scott A. Cammarn,Jacob Dachs,Athena Yvonne Eastwood,Paul J. Pantano,Vanessa Tanaka, October 06, 2016
On September 23, 2016, the Board of Governors of the Federal Reserve System (the “FRB”) issued a proposed regulation concerning the ability of a financial holding company (“FHC”)1 to engage in physical commodities activities (the “Commodities Proposal”). The...

Selected Risk Retention Questions and Answers for CMBS Securitizations
Michael S. Gambro,Anna H. Glick,Stuart N. Goldstein,Y. Jeffrey Rotblat, September 01, 2016
On October 22, 2014, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, the Federal Housing Finance Agency and the Department of Housing and Urban Development (the...

It’s a Mad, Mad, Madden World
Scott A. Cammarn, August 05, 2016
On Monday, June 27, 2016, the Supreme Court of the United States denied the petition for certiorari in Midland Funding LLC v. Madden, No. 15-610. The Supreme Court’s denial leaves intact the unusual - and troubling - decision by the U.S. Court of Appeals for the Second Circuit, Midland...

Proposed QI Agreement Addresses Cascading Withholding on Dividend Equivalents
Brian Foster,Mark P. Howe,Steven Lofchie,Jason D. Schwartz,Ray Shirazi, August 05, 2016
On July 1, the U.S. Internal Revenue Service issued Notice 2016-42, which proposes changes to the qualified intermediary (QI) agreement to address cascading U.S. withholding tax on dividends and “dividend equivalents” received and paid by qualified derivatives dealers (QDDs) with...

SEC Proposal Would Require Business Continuity and Transition Plans for Investment Advisers
Garret Filler,Dorothy D. Mehta,Joseph V. Moreno, August 05, 2016
Citing the ongoing risk of terrorist and cyber-attacks, the 2008 financial crisis, and Hurricanes Katrina and Sandy, the Securities and Exchange Commission (“SEC”) has issued proposed rules under the Investment Advisers Act of 1940 (“Advisers Act”) that would require...

What does Brexit mean for the European CLO Market?
Adam Blakemore,Alec J. Burnside,Robert Cannon,Neil Macleod,Claire Suzanne Puddicombe, August 05, 2016
In its referendum held on 23 June 2016, the UK voted to leave the European Union (“Brexit”). On the following day, David Cameron announced that he will resign as Prime Minister on the election of a new Conservative Party leader and that such leader should be elected prior to the...

European Parliament Rapporteur Publishes Draft Amendments to the Proposed EU Securitisation Regulation
Robert Cannon,Merryn Craske,Stephen Day,Neil Macleod,Claire Suzanne Puddicombe, July 07, 2016
On 6 June 2016, Paul Tang MEP, the Rapporteur of the Committee on Economic and Monetary Affairs (“ECON”) of the European Parliament, published a “Draft Report”, consisting mainly of draft amendments (the “Proposed Amendments”) to the EU's proposal for a...

CFPB Targets Mandatory Arbitration Clauses to Protect Consumer Class Actions
Scott A. Cammarn,Peter Carey,Joseph V. Moreno, June 13, 2016
On May 5, 2016, the Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule to prohibit providers of certain consumer financial products and services from using arbitration clauses to block consumers from filing or participating in class action lawsuits.1 In addition, the...

FinCEN Issues Final Rules for Customer Due Diligence Requirements
Jodi L. Avergun,Scott A. Cammarn,Colleen D. Kukowski,Dorothy D. Mehta,Joseph V. Moreno, June 08, 2016
On May 11, 2016, the Financial Crimes Enforcement Network (“FinCEN”) issued the final version of its long-awaited “Customer Due Diligence Rules” under the Bank Secrecy Act. 1 The final rules impose a new requirement on “covered financial institutions” - which...

Delaware Bankruptcy Court Rules TCEH First Lien Distributions Are Governed by the Bankruptcy Code, Not by Intercreditor Agreement Waterfall
Thomas J. Curtin,Mark C. Ellenberg,Ellen Halstead,Howard R. Hawkins,Ivan Loncar, May 27, 2016
On March 11, 2016, Judge Christopher Sontchi of the U.S. Bankruptcy Court for the District of Delaware issued an opinion in the Energy Future Holdings bankruptcy that resolved an intercreditor dispute over $90 million in proceeds to be distributed under the plan of reorganization. The Court...

The Southern District of New York’s Norske Skog Decision: What Constitutes A Refinancing May Be In The Eye of The Beholder
Ingrid Bagby,Stuart N. Goldstein,William P. Mills,Yushan Ng,Adam D. Summers, May 26, 2016
The recent decision by the United States District Court for the Southern District of New York in Citibank, N.A. v. Norske Skogindustrier ASA1 could be an important consideration for future drafting and interpretation of debt agreements. While the Court’s decision is in the context of a...

Codere S.A. Surety Bonds - Gambling with Unfunded Commitments
Adam Colman,Tawnee Harker,Louisa Watt, March 08, 2016
Mr Justice Robin Knowles CBE handed down his judgment on 29 January 2016 in GSO Credit - A Partners L.P. (and other GSO funds) v Barclays Bank PLC and HCC International Company PLC [2016] EWHC 146 (Comm) concerning the application of the Loan Market Association (“LMA”) Standard Terms...