Document(s) published by this organization: 94
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|First Criminal Prosecution for Spoofing: High Frequency Trading Firm Owner Indicted in Northern District of Illinois|
Jodi L. Avergun, Isabelle S. Corbett, Jonathan H. Flynn, Anthony M. Mansfield, Gregory George Mocek; Cadwalader, Wickersham & Taft LLP;
October 22, 2014, previously published on October 7, 2014On October 2, 2014, the U.S. Attorney for the Northern District of Illinois announced the indictment of Michael Coscia, the owner of Panther Energy Trading (“Panther”), for six counts of commodities fraud and six counts of spoofing. This indictment represents the first ever criminal...
|Hainan Airlines Delivers a First in Offshore RMB Financing Amidst Record Dim Sum Bond Market Performance|
Eugene Yujie Gu, David E. Neuville, Nancy Yang; Cadwalader, Wickersham & Taft LLP;
October 22, 2014, previously published on October 13, 2014The international market for offshore (ex-mainland China) offerings of debt securities denominated in Renminbi yuan, the currency of the People’s Republic of China, has had a record first half of 2014, with RMB130 billion (approximately US$21.1 billion, at an exchange rate of US$1.00 =...
|Clear Rift Highlighted by Commissioners’ Lack of Action on New England’s Most Recent Forward Capacity Auction Results|
Terence T. Healey, Kenneth W. Irvin, Gregory K. Lawrence, Thomas Reid Millar; Cadwalader, Wickersham & Taft LLP;
October 22, 2014, previously published on September 24, 2014On September 16, 2014, the Federal Energy Regulatory Commission’s four Commissioners issued statements explaining a 2-2 deadlock between Chairman LaFleur and Commissioner Moeller on the one hand and Commissioner Clark and new Commissioner Bay on the other, over whether to accept rates...
|Potential Impact of New SEC Rules on Cell Tower Securitizations|
Michael S. Gambro, Stuart N. Goldstein, Michael A. McCormack, Frank Polverino, Malcolm P. Wattman; Cadwalader, Wickersham & Taft LLP;
October 6, 2014, previously published on September 30, 2014 On August 27, 2014, the Securities and Exchange Commission (the “SEC”) adopted two final rules implementing new regulations affecting asset-backed securities (“ABS”). The first set of rules, referred to in this memorandum as the “Third Party Reports Rules,”...
|On to the Supreme Court? The D.C. Circuit Denies FERC’s Request for Rehearing En Banc of its Decision to Vacate FERC’s Demand Response Rule|
Terence T. Healey, Kenneth W. Irvin, Gregory K. Lawrence, Thomas Millar; Cadwalader, Wickersham & Taft LLP;
October 6, 2014, previously published on September 29, 2014On September 17, 2014, the United States Court of Appeals for the District of Columbia Circuit denied the Federal Energy Regulatory Commission’s request for rehearing en banc of the D.C. Circuit’s decision to vacate FERC’s wholesale demand response compensation rule. The D.C....
|Skandia: Intra-Company Supplies Treated as Taxable Transactions for VAT Purposes by the Court of Justice of the European Union|
Adam Blakemore, Catherine Richardson; Cadwalader, Wickersham & Taft LLP;
September 25, 2014, previously published on September 4, 2014On 17 September 2104, the Court of Justice of the European Union (the “CJEU”) gave its preliminary ruling in the case of Skandia America Corporation USA, Sweden Branch v Skatterverket (C-7/13) (“Skandia”). The decision of the CJEU has been awaited with interest throughout...
|M&A Update: Treasury Announces New Anti-Inversion Rules|
Cadwalader Wickersham Taft LLP;
September 25, 2014, previously published on September 23, 2014On September 22, 2014, the Treasury Department announced its intent to issue new regulations that will reduce the tax benefits available after an inversion and may make it more difficult for some U.S. companies to invert (the “Notice”). The Notice does not require congressional action...
|No Market Interest Rate and No Make Whole: Momentive Performance Court Rejects Lender Arguments Against Confirmation|
Ingrid Bagby, Mark C. Ellenberg, Michael A. Stevens; Cadwalader, Wickersham & Taft LLP;
September 23, 2014, previously published on September 17, 2014On August 26, 2014, Judge Robert D. Drain of the United States Bankruptcy Court for the Southern District of New York ruled that (i) the debtors could satisfy the cramdown requirements of section 1129(b) of the Bankruptcy Code by issuing to certain secured noteholders replacement notes with...
|CFTC Votes to Re-Propose Margin Requirements for Uncleared Swaps|
Steven Lofchie, Nihal S. Patel, Jeffrey L. Robins; Cadwalader, Wickersham & Taft LLP;
September 22, 2014, previously published on September 18, 2014On September 17, 2014, the Commodity Futures Trading Commission (“CFTC”) voted to re-propose rules to impose initial and variation margin requirements on uncleared swaps entered into by swap dealers and major swap participants that are not regulated by a “Prudential...
|Update to New CME Rule on Disruptive Trading Practices Summary Chart|
Sohair A. Aguirre, Neal E. Kumar, Anthony M. Mansfield, Paul J. Pantano; Cadwalader, Wickersham & Taft LLP;
September 18, 2014, previously published on September 15, 2014On August 28, 2014, the Chicago Mercantile Exchange Inc., the Board of Trade of the City of Chicago, the New York Mercantile Exchange, Inc., and the Commodity Exchange, Inc. (collectively, the “CME”) submitted a notice of a rule adoption to the Commodity Futures Trading Commission (the...