• Update On Credit Default Swaps
  • June 24, 2009 | Authors: Daniel W. Krane; Eirik E. Tellefsen
  • Law Firm: Drinker Biddle & Reath LLP - Philadelphia Office
  • Credit default swaps (CDS) have recently been the focus of intense regulatory scrutiny, and have been blamed, rightly or wrongly, for the near collapse of several major financial institutions. This Alert presents an overview of what CDS are, how they work, and various evolving legislative and regulatory initiatives surrounding them. Because of competing federal and state regulatory approaches and the rapidly changing legislative landscape, it is unclear at this time whether ¿ or how ¿ CDS will be regulated.