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Results: 1-10 of 14

Appellate court decides CSX total return swap case

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • August 9 2011

On July 18th, the U.S. Court of Appeals for the Second Circuit (the “Second Circuit”) issued its long-awaited opinion in CSX Corporation v. The Children’s Investment Fund Management (UK) LLP, et. al

Dodd-Frank Act implementation update

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • August 9 2011

Title VII of the Dodd-Frank financial reform, titled the “Wall Street Transparency and Accountability Act of 2010” (the “Dodd-Frank Act”), was enacted on July 21, 2010

UK Supreme Court upholds “flip” clauses

  • Orrick Herrington & Sutcliffe LLP
  • -
  • United Kingdom, USA
  • -
  • August 9 2011

Structured finance transaction documents have typically included subordination provisions in their post-default waterfalls, effectively changing a swap counterparty’s right to get paid from above that of the noteholders to below that of the noteholders

ISDA to create form of amendment to address suspension of payments

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • May 26 2011

The International Swaps and Derivatives Association, Inc. (“ISDA”) is preparing forms of amendment to its boilerplate master agreements in connection with market practice relating to the suspension of payments by a non-defaulting party

OCC proposes rule for retail foreign exchange transactions

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • May 26 2011

On April 22nd, the Office of the Comptroller of the Currency (the “OCC”) proposed a rule (the “Proposed OCC FX Rule”) authorizing national banks to engage in offexchange transactions in foreign currency with retail customers, subject to certain specified conditions

European Commission probes banks over CDS

  • Orrick Herrington & Sutcliffe LLP
  • -
  • European Union, USA
  • -
  • May 26 2011

On April 29th, the European Commission (the “EC”), the executive body of the European Union, announced it had opened two antitrust investigations in connection with the credit default swap (“CDS”) market

IRS issues temporary regulations on transfers of derivative contracts

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • August 9 2011

On July 15th, the Department of the Treasury, Internal Revenue Service (“IRS”), issued temporary and proposed regulations (the “Temporary Regulations”) addressing when a transfer of certain derivative contracts does not result in an “exchange” to the remaining party for purposes of Section 1.1001-1(a) of the Income Tax Regulations (the “Tax Regulations”) of the Internal Revenue Code (the “Code”

Dodd-Frank implementation update

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • May 26 2011

Title VII of the Dodd-Frank Act,1 titled the “Wall Street Transparency and Accountability Act of 2010” (the “Act”), was enacted on July 21, 2010

Financial transaction tax

  • Orrick Herrington & Sutcliffe LLP
  • -
  • European Union, USA
  • -
  • February 15 2012

The application of a financial transaction tax on bond, equity and derivatives transactions in Europe continues to be intensely debated

CFTC issues final rule on CPOCTA registration and compliance regulations

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • February 15 2012

On February 9th, the CFTC approved certain rule changes intended to increase transparency to the CFTC of commodity pool operators (“CPOs”) and commodity trading advisors (“CTAs”) active in the futures and swaps markets