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Results: 1-10 of 60

Derivative product companies: a comparison of new rating agency guidelines

  • Cadwalader Wickersham & Taft LLP
  • -
  • USA
  • -
  • May 10 2013

Derivative product companies ("DPCs") are structured financial entities that act as intermediaries for, or guarantors of, an affiliated entity (the

Financial industry developments

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • May 6 2013

On April 30, the FHFA issued its progress report on the steps being taken to establish a common securitization infrastructure for MBS. The FHFA is

CFTC issues temporary no-action relief for commodity pool operators of securitization vehicles

  • Lowenstein Sandler PC
  • -
  • USA
  • -
  • March 30 2013

On March 29, 2013, the Commodity Futures Trading Commission's ("CFTC") Division of Swap Dealer and Intermediary Oversight (the "Division") issued

CFTC issues interpretive and no-action relief to certain securitization vehicles with respect to commodity pool regulation

  • Lowenstein Sandler PC
  • -
  • USA
  • -
  • January 15 2013

The Commodity Futures Trading Commission (the "CFTC") recently issued certain interpretations and no-action letters relating to commodity pool

Registration relief for certain investors in legacy securitizations

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • January 7 2013

On December 21st, DSIO advised it will not recommend enforcement action against the commodity pool operators of investment pools that invest in

International regulatory update 21 December 2012-4 January 2013

  • Clifford Chance LLP
  • -
  • China, European Union, Germany, Hong Kong, Malaysia, Singapore, Spain, United Kingdom, USA
  • -
  • January 7 2013

Ireland commences EU Council Presidency PRIPS: ECON Committee reports on proposed Regulation on key information documents EMIR: Implementing

Dodd-Frank implementation: navigating the road ahead

  • Morrison & Foerster LLP
  • -
  • USA
  • -
  • December 20 2012

Almost two-and-a-half years after the enactment of the Dodd-Frank Act, the various federal agencies charged with implementation have made measurable

CFTC issues interpretive guidance and registration relief to securitization vehicles, mREITs, and BDCs

  • Debevoise & Plimpton LLP
  • -
  • USA
  • -
  • December 14 2012

In a series of recent letters, the Division of Swap Dealer and Intermediary Oversight (“Division”) of the Commodity Futures Trading Commission (“CFTC”) offers certain guidance and relief to securitization vehicles, mortgage real estate investment trusts (“mREITs”), and business development companies (“BDCs”

CFTC issues broad securitization industry relief on commodity pool regulation

  • Dechert LLP
  • -
  • USA
  • -
  • December 11 2012

On Friday, December 7, 2012, the U.S. Commodity Futures Trading Commission (CFTC), through its Division of Swap Dealer and Intermediary Oversight (Division), issued a letter which provides broad relief for certain segments of the securitization industry (December Relief

Further exclusions from commodity pool regulation for certain securitization vehicles; no-action relief for certain securitization vehicles formed prior to October 12, 2012

  • Allen & Overy LLP
  • -
  • USA
  • -
  • December 10 2012

On December 7, 2012, the Division of Swap Dealer and Intermediary Oversight (the Division) of the Commodity Futures Trading Commission (the CFTC) issued an interpretative and no-action letter (the Release)1 providing that: (a) securitization vehicles that do not satisfy the operating or trading limitations contained in Regulation AB of the Securities Act of 1933 (Regulation AB) or Rule 3a-7 of the Investment Company Act of 1940 (Rule 3a-7) (and are, therefore, unable to rely on previous relief for securitization vehicles provided by the October Letter described below) will be excluded from the definition of “commodity pool,” provided that such securitization vehicles (i) only use swaps in a manner no greater than that contemplated by Regulation AB or Rule 3a-7 and in no way to create an investment exposure, and (ii) limit their activities to holding financial assets; (b) the Division will not recommend enforcement action against the operators of certain legacy transactions meeting the definition of commodity pool that have not and will not issue new securities on or after October 12, 2012, for failure to register as a commodity pool operator (CPO); and (c) the operators of securitization vehicles that are unable to rely upon existing relief will have until March 31, 2013 to register as a CPO

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