- Bank Regulation
- Broker-Dealer Regulation
- Commodities & Futures Regulation
- Derivatives & Structured Products
- Financial Regulation
- Swap Regulation
- Investment Management
- Investment Management Litigation
- Investment Management Regulation & Compliance
- OTC Derivatives
- Structured Products
|Contact Info||Telephone: 212 504 6700|
Fax: 212 504 6666
|University ||Sarah Lawrence College, B.A., 1979; Columbia University, M.B.A., 1984|
|Law School||Yale University, J.D., 1989|
|Admitted||1990, New York; U.S. District Court, Southern District of New York|
Steven Lofchie, partner and Co-Chair of the Financial Services Department, concentrates his practice in advising financial institutions on regulatory issues and on derivatives and other financial instruments. He is consistently recognized in the United States by Chambers USA, Legal 500, and IFLR 1000 in the areas of financial services regulation and derivatives (and in fact he is the only lawyer in the United States to be rated in the top band by Chambers in both financial regulation and derivatives). The Best Lawyers in America also selected Steven as one of the nation's leading lawyers in several areas including: Administrative/Regulatory, Derivatives and Futures, Securities/Capital Markets, and Securities Regulation Law. He is the author of Lofchie's Guide to Broker-Dealer Regulation (4th ed. 2011), considered the leading treatise in the field.
Steven counsels funds (private and registered investment companies), broker-dealers, and banks and exchanges regarding regulatory and transactional issues. His regulatory practice addresses virtually all the securities-law related statutory and regulatory requirements applicable to funds and advisers, broker-dealers, other regulated institutions and their affiliates. He advises on registration requirements and exemptions; employee issues; cash market, sales, and trading; the development of compliance and supervisory procedures; satisfaction of margin, capital and record-keeping requirements; the rules of the financial industry self-regulatory organizations; anti-money laundering; privacy; procedures for cross-border transactions; and insider trading issues.
Steven represents many broker-dealers, banks and the largest hedge funds and their investment advisers on trading and derivatives regulation and documentation, as well as other regulatory issues, including those arising under the Advisers Act and the Commodity Exchange Act, as both have been transformed by Dodd-Frank. He represented the Managed Funds Association in the most recent revisions to the ISDA equity definitions.
His transactional practice focuses on over-the-counter derivatives, securities financing, and trading agreements (from prime brokerage to the use of asset-backed structures for the financing of investments in hedge funds), and various types of licensing and membership agreements.
Steven is a frequent writer and speaker on financial regulation and policy. In addition, he has been very active in developing web-based compliance tools, online compliance manuals, research tools and document analysis systems. These tools are available through the Cadwalader Cabinet.
Steven received his M.B.A. from Columbia Business School, where he was a General Motors fellow. He received his J.D. from Yale Law School, where he was a member of the Yale Law Journal.
Documents by this lawyer on Martindale.com
Summary of Prudential Regulators’ Re-Proposed Margin Rules
Steven Lofchie,Nihal S. Patel,Jeffrey L. Robins, September 8, 2014
On September 3, the Board of Governors of the Federal Reserve System (“Board”), the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Farm Credit Administration and the Federal Housing Finance Agency (collectively, the “Prudential...
SEC SBSD Recordkeeping and Reporting Proposal
Steven Lofchie,Nihal S. Patel,Jeffrey L. Robins, April 25, 2014
The SEC has published proposed recordkeeping, reporting and capital deficiency notification requirements that would apply to security-based swap dealers ("SBSDs") and major security-based swap participants ("MSBSPs") as well as to other SEC-registered broker-dealers that enter...
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