Conal L. Hession: Lawyer with Kutak Rock LLP

Conal L. Hession

Omaha,  NE  U.S.A.
Phone(402) 231-8806

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Practice Areas

  • Business and Corporate
  • Corporate and Securities
  • Securities Regulation
  • Private Investment Funds
  • Fund Capital Raising
  • Fund Structuring
  • Fund Taxation
  • Asset Securitization
  • Trustee's Counsel
  • Public Finance
  • Credit Enhancement
  • Derivatives and Investment Products
  • Swaps and Hedges
  • Secondary Markets
  • Securitizations
  • Bank, Credit Enhancer's, Lender's and Purchaser's Counsel
  • Derivative Counsel
University Creighton University, B.A., cum laude, 1989
Law SchoolCreighton University School of Law, J.D., magna cum laude, 1992
Admitted1992, Nebraska
BornOmaha, Nebraska, January 21, 1967

Mr. Hession practices primarily in the areas of synthetic tax-exempt securities, derivatives, structured finance, securities law and general corporate law. He has advised multiple financial institutions and municipalities with respect to complying with the new Dodd-Frank regulations. Mr. Hession represents financial institutions with regard to financial and derivative products such as swaps and tender option bonds, with an emphasis on the repackaging of municipal, asset-backed, and corporate securities. He has represented several high-volume issuers and has developed a reputation for providing practical advice and explaining complex structures in straightforward terms.

In addition, Mr. Hession has represented hedge funds investing in derivatives and municipal securities, as well as various clients entering into swap agreements, such as interest rate, credit default and currency swaps.


April 9, 2013UPDATE: New Developments on Legal Entity Identifier Numbers for Swap Counterparties

As noted in our March 28, 2013 Client Alert, on March 15, 2013 the federal Commodity Futures Trading Commission (CFTC) issued an advisory which stated that all swap participants needed to obtain a Legal Entity Identifier number (also known as an LEI or CICI) prior to April 10, 2013. While the language of the CFTC's advisory was unambiguous, it conflicted with a prior CFTC regulation which provided participants in existing swaps until October 7, 2013 to obtain a CICI (although anyone entering into a new swap on or after April 10 must have a CICI when entering into the new swap). Although some CFTC staff have reportedly orally acknowledged the October 7 date is correct, the CFTC has not yet officially clarified the advisory. Client Alert

March 28, 2013New Developments on Legal Entity Identifier Numbers for Swap Counterparties

As part of the reporting regime under the Dodd-Frank Wall Street Reform and Consumer Protection Act, all parties to swap agreements (Swap Participants), including municipal issuers, need to have Legal Entity Identifier numbers (also known as LEIs or CICIs) that are used when dealers report swaps. Note this requirement even applies with respect to certain swaps that already have been terminated to the extent they were in effect on or after April 25, 2011. Read this client alert for more information about the need to apply for or certify LEIs. Client Alert

March 15, 2013Dodd-Frank and State and Local Government Swaps

In January 2013 the portions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) regulating swaps began to be phased in, including provisions regulating swaps entered into by state and local governments. Swap dealers have begun contacting their governmental and other swap counterparties requesting that they execute various documents in response to DFA. The following is a brief summary of the DFA provisions which directly affect state and local governments' swaps, including new swaps, existing swaps or even, in some cases, terminated swaps. Client Alert


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Office Information

Conal L. Hession

1650 Farnam Street
OmahaNE 68102-2186


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