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Results: 1-10 of 30

Commentary: five lessons from the municipal derivatives litigation front
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • June 14 2013

Pre-financial crisis, interest rate derivatives were widely recognized as a valuable part of the municipal issuer's financial toolkit. Post-crisis


Dodd-Frank implementation update
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • September 28 2012

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


Standardization of muni CDS
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • May 4 2012

On March 5th, ISDA published the 2012 ISDA U.S. Municipal Reference Entity Supplement to the 2003 ISDA Credit Derivatives Definitions (the “March 2012 Supplement”), which is intended to standardize credit default swaps referencing U.S. municipal issuers or obligations as the reference entity or reference obligation (“muni CDS”) with credit default swaps referencing corporate and sovereign CDS


City of Milan settles with banks in derivatives fraud case
  • Orrick, Herrington & Sutcliffe LLP
  • Italy
  • May 4 2012

The City of Milan, Italy, has reached a settlement relating to a dispute involving fees charged by four foreign banks relating to the sale of derivatives


Greece triggers credit event and raises questions for sovereign CDS
  • Orrick, Herrington & Sutcliffe LLP
  • Global, Greece
  • May 4 2012

On March 9th, the ISDA Determinations Committee for Europe unanimously concluded that The Hellenic Republic (Greece) had triggered a restructuring “credit event” under credit default swap (“CDS”) contracts in connection with the exchange of its debt with private creditors


Investment management industry challenges CPO registration requirement
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • May 4 2012

On February 9th, the CFTC issued a final rule modifying its Rule 4.5 to require the advisers of an investment company registered under the Investment Company Act of 1940, such as a mutual fund or exchange-traded fund, to register as commodity pool operators if, generally, the fund invests a material amount of its assets in speculative commodity futures, options and swaps


Dodd-Frank Act implementation update
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • May 4 2012

Title VII of the Dodd-Frank Act, titled the “Wall Street Transparency and Accountability Act of 2010” (“Title VII”), 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


Greece inches closer to triggering a credit event
  • Orrick, Herrington & Sutcliffe LLP
  • Greece
  • February 15 2012

With an enormous 14.5 billion bond maturing on March 20th, Greece continues to negotiate with its private sector investors on the reduction of approximately 100 billion of its total 350 billion of debt