A Dodd-Frank Derivatives Update

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Morrison & Foerster, Bank of America Merrill Lynch, IFLR
With the recent regulatory guidance on extraterritoriality, the principal pieces of the regulatory framework applicable to derivatives are coming together. This webcast will provide an overview of the status of Title VII rulemaking. The participants will discuss:

- Entity definitions
- Swap dealer registration and compliance issues
- Registration process
- Business conduct standards and policy requirements
- Compliance challenges
- Timing considerations
- Clearing documentation

The speakers will be:
- Danielle Myles, editor, International Financial Law Review (moderator)
- Anna Pinedo, Morrison & Foerster, New York
- David Kaufman, Morrison & Foerster, New York
- Glen Rae, associate general counsel, Bank of America Merrill Lynch
Sep 6 2012
89 mins
A Dodd-Frank Derivatives Update
  • Channel
  • Channel profile
  • Derivatives and cross border issues Recorded: Jun 17 2015 91 mins
    Morrison & Foerster, ING and IFLR
    Seven years after the onset of the financial crisis, and five years after the Dodd-Frank Act was passed, derivatives reform continues to be a hot – and unresolved – topic.

    In this webinar, the speakers will provide an update regarding recent actions by the CFTC and SEC with respect to derivatives, and discuss a number of derivatives and cross border issues. Topics include:

    -Proposed Form TO relief
    - Forwards with embedded volumetric optionality;
    -CFTC no-action relief and guidance for swap execution facilities;
    -Uncleared swaps margin rules;
    -Status of cross border harmonisation; and
    -SEC’s cross border proposal and reporting rules.

    Confirmed speakers include:
    - Julian Hammar, Morrison & Foerster;
    - James Schwartz, Morrison & Foerster;
    - Gary Kalbaugh, ING Financial Markets;
    - Danielle Myles, IFLR (moderator)
  • Competition regulation for financial institutions Recorded: Jun 11 2015 80 mins
    Matthew Readings & James Webber, Shearman & Sterling; Mark Bethell, FCA; Natalie Greenwood, Lloyds; Sharon Horwitz, CMA
    The Financial Conduct Authority's new competition powers and an enforcement focus on wholesale banking are important issues for many financial institutions in the UK. IFLR and Shearman & Sterling presents this discussion on key topics:
    • The enhanced self-reporting obligation in respect of potential competition law infringements;
    • FCA’s ability to switch between its FSMA and competition enforcement powers;
    • Flow of information between the FCA and other regulators (including the EU Commission);
    • Choice of FSMA vs Enterprise Act market studies;
    • FCA’s ability to resolve issues itself vs make a reference to the CMA;
    • Likelihood of FCA Competition Act cases; and
    • Civil litigation implications.
  • Regulating liquidity Recorded: May 21 2015 75 mins
    Oliver Ireland, Morrison & Foerster; Tom Young, IFLR
    The adoption in the US and abroad of new liquidity requirements have had a significant impact on financial institutions. The liquidity coverage ratio and the proposed net stable funding ratio, as well as the emphasis in the US on wholesale funding have caused financial institutions to place increased focus on the maturities of their assets and liabilities.

    Issues addressed will include:

    •Why are regulators concerned about liquidity?;
    •The liquidity coverage ratio rules;
    •Net stable funding proposal;
    •Effect of relying on wholesale funding; and
    •What are institutions doing to address these requirements?
  • IFLR Women in Business Law: Unconscious Bias Recorded: May 18 2015 56 mins
    Harish Bhayani of PRM Diversity Consultants, Danielle Myles of IFLR
    IFLR Women in Business Law Group members are invited to join a webinar on unconscious bias. Topics include:
    *Understanding what unconscious bias is and explore causes and effects
    * Stereotype threat and organisational bias: concepts to understand in the workplace
    * Exploring implications for women working in law
    * Techniques for anticipating and mitigating the risks

    The webinar will be led by Harish Bhayani, founder and senior partner of PRM Diversity Consultants www.prmdiversityconsultants.co.uk. Harish, a former Big Four consultancy Practice Leader, has specialised as a diversity consultant, trainer and researcher since 2001. His expertise is grounded in some 20 years of prior experience working in large corporations, developing leading edge initiatives in unconscious bias. He is a trustee at homelessness charity Crisis a member of the Diversity Working Group at the CIPR and a volunteer business adviser at the charity Young Enterprise.
  • A Guide to Doing Deals in The Middle East Recorded: May 13 2015 51 mins
    Gary Watts and Ahmed Ibrahim - partners at Al Tamimi & Company, Tom Young of IFLR
    The past decade has seen enormous growth in foreign investment within the Middle East. It has been accompanied by great opportunities but also new challenges for businesses in the region.

    With continuing economic instability plaguing traditional markets, The Middle East remains a focus for many businesses and international investors. For newcomers to the market, however, the complexities of setting up and continuing business in the region are a significant barrier to entry.

    In this webinar partners from Al Tamimi & Company, the largest law firm in the Middle East region, will provide listeners with a practical in-depth guide to some of the common issues and pitfalls of dealing with the unfamiliar laws, regulations and differing cultural contexts in the region.

    Our speakers will cover:

    •Investment restrictions
    •Key issues to consider when doing M&A in the Middle East
    •Merger control legislation
    •Legal structures for new businesses
    •Setting up in Free Zones
    •The current investment environment – M&A and capital markets
  • BRRD and Bail-in Recorded: Apr 28 2015 73 mins
    Morrison & Foerster, Unicredit, IFLR
    The Bank Recovery and Resolution Directive (BRRD) has now been adopted in the EU and most of its provisions were required to become effective in member states as from January 1 2015.

    The BRRD harmonises the range of resolution tools available to supervisory authorities in the EU in the event of the failure of major financial institutions. A key cornerstone of the new legislation is the introduction of a new “bail-in” power available to regulatory authorities enabling them to require the write-down or conversion into equity of a wide range of unsecured senior debt as part of the resolution of a failing institution. Uncertainty remains as to the full extent of the bail-in powers and the range of instruments it is likely to apply to and finalised guidance and rulemaking is still awaited on various issues during the course of 2015.

    We will consider the scope of the bail-in power and how it might be applied in practice, as well as discussing how this might affect the structuring of financial instruments issued by banks and the possible attitudes of investors in bank liabilities.

    - Jeremy Jennings-Mares, Morrison & Foerster
    - Isaac Alonso, Unicredit
    - Danielle Myles, IFLR (moderator)
  • Liability Management Recorded: Mar 23 2015 91 mins
    Anna Pinedo, David Lynn and Remmelt Reigersman - partners at Morrison & Foerster, Tom Young of IFLR
    Once again, many issuers are considering liability management alternatives, including open market repurchases, debt-equity swaps, and tender and exchange offers. Recently issued no-action letter relief may provide issuers and their advisers with greater flexibility for tender offers for non-convertible debt securities, including non-investment grade debt securities. We will discuss the conditions for such relief. Also, we will review recent court decisions involving the application of the Trust Indenture Act in the context of liability management transactions.

    Our speakers will cover:
    • Disclosure issues;
    • Concerns regarding material non-public information;
    • The tender offer rules;
    • No-action letter relief for non-convertible debt securities;
    • Recent court decisions
    • Accounting considerations;
    • Tax considerations.
  • Mobile payments and virtual currencies Recorded: Feb 11 2015 91 mins
    Morrison & Foerster, IFLR
    Alternative payment options, including mobile payments and virtual currencies, are gaining traction among consumers. Smartphones and other mobile devices are increasingly used to make payments to businesses and other consumers. Banks and non-bank providers of payment services that seek to innovate in the mobile space are well served by considering the vast regulatory regime that applies to consumer payments.

    Virtual currencies also introduce legal considerations for banks and other entities active in the space. For example, anonymity – viewed as central by some to virtual currency transactions – creates particular challenges, such as the risk of money laundering, for banks and other regulated entities (eg non-bank money transmitters).

    This webinar will provide an overview of the legal issues related to mobile payments and virtual currencies, highlighting trends in the market and related regulatory developments.

    - Obrea Poindexter, Morrison & Foerster
    - Jeremy Mandell, Morrison & Foerster
    - Danielle Myles, IFLR (moderator)
  • What good leadership looks like Recorded: Feb 11 2015 63 mins
    Nicky Moffat CBE; Emma Slatter, Deutsche Bank; Judy Ginsberg, White & Case; Ian Bagshaw, White & Case; Danielle Myles, IFLR
    Attributes that make a good leader
    Leadership styles
    Preparing for a leadership role
    Engaging mentors to aid you in your journey as a leader
    Tracking your progress
  • Dodd Frank: recap and what’s next? Recorded: Jan 6 2015 90 mins
    Morrison & Foerster, IFLR
    Over four years have passed since enactment of the Dodd-Frank Act in the US. Most of the significant regulations required to implement the mandate of the Act have been finalized. But the devil is in the details….

    Implementation of many of the final rules is only just beginning. During this webcast, the speakers will review the principal actions taken by the banking agencies and other US regulators during 2014, with a special focus on those measures having greatest impact on non-US banks doing business in the country.

    We also will focus on the thorniest implementation questions and highlight the regulations that must still be finalized. The speakers will address:

    •The Volcker Rule and related implementation questions,
    •Treatment of covered funds under the Volcker Rule,
    •The final capital rules for US banks and the intermediate holding company framework for foreign banks,
    •The cross-border derivatives rules,
    •The regulation of mortgage loan origination and securitisation, and
    •What’s next.

    Oliver Ireland, Morrison & Foerster
    Kenneth Kohler, Morrison & Foerster
    James Schwartz, Morrison & Foerster
    Gary E Kalbaugh, ING Financial Holdings
    Tom Young, IFLR
  • Green bonds and social impact investing Recorded: Dec 9 2014 88 mins
    IFLR, Mofo
    Many investors are increasingly seeking to align their financial goals with their social objectives. Various legal entity structures have evolved, such as benefit corporations.

    Similarly, certain financial instruments have developed that may be structured in order to align financial and social goals. An example of these trends can be seen in the development of the market for green bonds, which has grown as issuers of debt securities reach a broader investor audience that seeks to promote sustainability and related initiatives.

    The session will provide an overview of the green bond market, the considerations in structuring and offering green bonds, and the disclosure and reporting requirements. In addition, the speakers will provide an overview of the Green Bond Principles.

    The Green Bond Principles are best practices for issuances and outline an approach for designating, disclosing, managing, and reporting on the proceeds of a Green bond.


    Anna Pinedo, Morrison & Foerster
    Susan Mac Cormac, Morrison & Foerster
    Lindsay Beck, NPX
    Danielle Myles, IFLR
  • Moving away from the C-corporation: understanding REITs, MLPs, PTPs, and BDCs Recorded: Nov 11 2014 94 mins
    Morrison & Foerster, IFLR
    Traditionally, most public companies in the US were organised as C-corporations. However, tax developments in recent years have given corporate planners a wide range of new tools to structure a public company. For example, tax pass-through MLP and REIT structures are spreading into new asset classes. Also, traditional double taxed ‘C’ corporations are using tax pass-through entities, including REITs and partnerships, to reduce or eliminate entity-level taxes as well as optimise their internal structures with tax ‘disregarded entities’. These new tools lead to a variety of tax choices in deciding how to structure a public company.

    During this briefing, which is intended for a general audience, the speakers will explain the structures, restrictions and pitfalls in this evolving hybrid world of C-corporations mixed with tax pass-throughs. Specifically, they will discuss:

    - master limited partnerships
    - REITs and alternative assets that may qualify as ‘real estate’
    - using REITs to unlock real estate currently held in corporate form
    - Business development companies
    - Consolidated groups of corporations and disregarded entities
    - Up-C structures

    - Remmelt Reigersman, Morrison & Foerster
    - Tom Humphreys, Morrison & Foerster
    - Tom Young, IFLR (moderator)
  • The Cross-Border Private Placement Market Recorded: Oct 14 2014 90 mins
    IFLR, Morrison & Foerster
    The cross-border private placement market continues to grow, providing non-US issuers with an opportunity to raise capital from US insurance companies, pension funds and other institutional investors, as well as European institutions. The robust market, which is nearing $50 billion in the US alone, has attracted issuers across industries and jurisdictions that seek to diversify their funding or supplement their bank lending and raise longer-term debt. In this webinar, speakers will discuss:

    - the global private placement market and recent trends
    - the market participants
    - documentation requirements
    - traditional covenants and model forms
    - marketing process
    - ratings and the NAIC
    - secondary transfers

    - Scott Ashton, Morrison & Foerster
    - Brian Bates, Morrison & Foerster
    - Danielle Myles, IFLR (moderator)
  • The Future of Housing Finance, the Mortgage Market and Securitisation Recorded: Sep 10 2014 94 mins
    IFLR, Morrison & Foerster
    A number of regulatory developments continue to affect, and bring about significant change in, the US mortgage market. During this webinar, the panellists will provide their perspective on developments affecting the housing finance and mortgage market, including:

    - new final Regulation AB II
    - US housing finance legislation
    - the status of Dodd-Frank securitisation reforms
    - Volcker Rule issues
    - risk retention rules
    - consumer and mortgage lending reforms, and the role of the Consumer Financial Protection Bureau
    - the role of non-banks in the mortgage market
    - regulatory and enforcement matters relating to mortgage market participants.

    - Ken Kohler, Morrison & Foerster
    - Don Lampe, Morrison & Foerster
    - Jerry Marlatt, Morrison & Foerster
    - Larry Rubenstein, Wells Fargo
    - Tom Young, IFLR (moderator)
  • Building your personal brand Recorded: Sep 2 2014 59 mins
    Danielle Myles, IFLR; Monica Burch & Clarissa Coleman, Addleshaw Goddard; Clare Thomas, Britvic; Jo Lyon, Talking Talent
    Join us to discuss the importance of building your personal brand. Our panel of experienced speakers will share their expertise and views with the IFLR Women in Business Law Group members.
  • IFLR Women in Business Law Group: Speaking with Confidence Recorded: Aug 5 2014 59 mins
    Tish Clyde, DHL; Caroline Donald, Goldman Sachs; Sarah Harper, Visa Europe; Marianne O'Connor, Career Savvy Women
    IFLR Women in Business Law Group members are invited to join a webinar on Speaking with Confidence. Topics include:
    • Making an impact
    • Connecting with the audience
    • Body language and non-verbal cues
    • Remaining authentic and credible
    • Developing your own voice an style
    • Planning and preparation - structuring what you want to say
    • Speaking without notes
    • Using visuals to maintain interest
    • Controlling nerves

    Speakers: Tish Clyde, SVP Global Industrial Relations & Employment Counsel, DHL; Caroline Donald, International Chief of Staff, Legal Department, Executive Director & Senior Counsel, Goldman Sachs; Sarah Harper, Vice President, Senior Legal Adviser, Visa Europe; Marianne O'Connor, Associate, Career Savvy Women;
    Gemma Varriale, EMEA Editor, IFLR
  • Foreign banks raising capital in the US Recorded: May 12 2014 90 mins
    MoFo, Citigroup, IFLR
    Foreign banks are increasingly looking to diversify their financing options. With careful planning, they can access US investors without subjecting themselves to the securities registration requirements applicable to public offerings, or the ongoing disclosure and governance requirements applicable to US reporting companies.

    Speakers on this webinar will explain how non-US banks can pursue these funding avenues.

    Topics include:
    - Issuances exempt from registration under rule 144A;
    - Issuances that rely on registration exceptions provided by Securities Act section 3(a)(2) for securities offered or guaranteed by banks;
    - Setting up a rule 144A or bank note programme for straight debt;
    - Issuing covered bonds in reliance on rule 144A or Section 3(a)(2);
    - Yankee CD programmes; and
    - Banking and securities regulatory requirements to consider before setting up an issuance programme.

    - Brad Berman, Morrison & Foerster
    - Jerry Marlatt, Morrison & Foerster
    - Jack McSpadden, Citigroup
    - Laura Drumm, Citigroup
    - Danielle Myles, IFLR (moderator)

    California and New York CLE credit will be offered for this webinar
  • European Developments Affecting Structured Notes & Retail Investment Products Recorded: Apr 7 2014 90 mins
    IFLR, Morrison & Foerster
    This briefing will consider recent developments affecting structured notes and retail investment products in Europe.

    The participants will focus on the progress of the proposed PRIPS regulation in the EU and related regulatory developments including MiFID II and the on-going debate between legislators, regulators and market participants to the suitability of certain complex products for retail investors.


    Peter Green, Mofo
    Jeremy Jennings-Mares, Mofo
    Christopher Taylor, The Investment Bridge
    Tom Young, IFLR (moderator)
  • The Volcker Rule Recorded: Feb 28 2014 90 mins
    IFLR, Morrison & Foerster, Bank of America Merrill Lynch
    On December 10 2013, the five US bank regulators issued the long-awaited final rule construing the Volcker Rule. This rule generally prohibits banking entities – a broad term that includes banks, bank holding companies, foreign banks treated as bank holding companies, and their respective affiliates – from (i) engaging in proprietary trading, and (ii) acquiring or retaining ownership interests in, or acting as sponsors to, certain hedge funds and private equity funds.

    The final rule incorporates significant changes to the proposed rule, published on November 7 2011, which were made in response to the large number of comments received on the original proposal.

    This webcast is will summarise certain impacts of the final rule on banking institutions, including foreign banking organisations. We shall address aspects of the final rule, including:
    • the exemption for proprietary trading
    • limitations on permitted trading and fund activities
    • fund investment and sponsorship
    • impact on foreign banking organisations
    • definition of a covered fund
    • impact on securitisations
    • compliance programmes
    • conformance period

    Speakers are:
    • Henry M Fields, Morrison & Foerster
    • Oliver I Ireland, Morrison & Foerster
    • Kenneth E Kohler, Morrison & Foerster
    • Daniel A Nathan, Morrison & Foerster
    • Gary Rosenblum, Bank of America Merrill Lynch
    • Danielle Myles, IFLR (moderator)

    New York and California CLE credit will be offered for this webinar
  • Dodd-Frank implementation: what to expect in 2014
 Recorded: Jan 30 2014 90 mins
    Morrison & Foerster, Bank of America Merrill Lynch, IFLR
    Three-and-a-half years have passed since the enactment of the Dodd-Frank Act. Join us as we examine the most significant developments from 2013 including finalisation of the US regulatory capital rules, the regulatory framework for the mortgage market, and the Title VII framework for the regulation of derivatives.

    We will also discuss the key rules expected to be finalised in 2014, including:
    • the liquidity coverage ratio requirement, a long-term debt requirement, and measures to address reliance on short-term wholesale funding;
    • enhanced prudential standards;
    • risk retention requirements;
    • the Volcker Rule, derivatives push-out and the remaining pieces of the derivatives regulatory regime under Title VII; and
    • other significant Dodd-Frank milestones.

    • Anna Pinedo, Morrison & Foerster
    • James Schwartz, Morrison & Foerster
    • Kenneth Kohler, Morrison & Foerster
    • Robert Dilworth, Bank of America Merrill Lynch
    • Danielle Myles, IFLR (moderator)

    New York and California CLE credit will be offered for this webinar

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  • Title: A Dodd-Frank Derivatives Update
  • Live at: Sep 6 2012 3:00 pm
  • Presented by: Morrison & Foerster, Bank of America Merrill Lynch, IFLR
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