Nick Shiren

Nick Shiren

Cadwalader, Wickersham & Taft LLP

Contact  |  View Bio  |  RSS

Latest Publications


Amendments to the Basel Securitisation Framework – Alternative Capital Treatment for Simple, Transparent and Comparable...

The Basel Committee on Banking Supervision (the “Basel Committee”) published an updated version of the “Basel III Document – Revisions to the securitisation framework” on 11 July 2016 (the “Amended Securitisation...more

8/4/2016 - Banking Sector Banks Basel Committee Basel III Capital Requirements Capital Requirements Regulation (CRR) EU European Commission Securitization Securitization Market Securitization Standards Transparency UK

What does Brexit mean for the European CLO Market?

In its referendum held on 23 June 2016, the UK voted to leave the European Union (“Brexit”). On the following day, David Cameron announced that he will resign as Prime Minister on the election of a new Conservative Party...more

6/28/2016 - Capital Requirements Regulation (CRR) Collateralized Loan Obligations EEA EU EU Passport Financial Markets Member State MiFID Popular Referendums Risk Retention Securitization Market UK UK Brexit

European Parliament Rapporteur Publishes Draft Amendments to the Proposed EU Securitisation Regulation

On 6 June 2016, Paul Tang MEP, the Rapporteur of the Committee on Economic and Monetary Affairs (“ECON”) of the European Parliament, published a “Draft Report”, consisting mainly of draft amendments (the “Proposed...more

6/13/2016 - Capital Requirements Regulation (CRR) ECON EU European Banking Authority European Securities and Markets Authority (ESMA) Financial Markets Proposed Amendments Risk Retention Securities Securities Regulation Securitization Special Purpose Entities

Update on the EU STS and Risk Retention

On 19 May 2016, the Committee on Economic and Monetary Affairs of the European Parliament (“ECON”) published a working document on the European Commission’s proposal for a regulation (the “Proposed Regulation”) intended to...more

5/26/2016 - Capital Requirements Regulation (CRR) Due Diligence ECON EU European Commission Investors Proposed Regulation Risk Retention Securitization Standards SMEs Transparency

Bank Resolutions – Trust the Regulators, but Keep Your Powder Dry

In times of financial turbulence, politicians, regulators and the media make the case for tighter controls of the markets. However, with new regulatory powers coming in and the resulting extra layer of complexity that their...more

2/18/2016 - Banks BRRD Credit Default Swaps EU Financial Markets Investment Regulatory Oversight

The EBA’s New Remuneration Guidelines: Expanding the Scope of the Bonus Cap

On 21 December 2015 the European Banking Authority (“EBA”) published its final guidelines on sound remuneration policies (the “Guidelines”), together with its opinion on proportionality (the “EBA Opinion”)....more

1/14/2016 - Bonuses CRD IV Directive EU European Banking Authority Final Guidance Investment Firms Remuneration UK

Update on the EU’s Proposed Regulation on Securitisation and its Potential Impact on US Market Participants

We discussed the European Commission’s (the “Commission”) proposal for a regulation (the “Regulation”) intended to harmonise existing EU laws applying to securitisations, including EU risk retention rules, and to create a...more

12/18/2015 - Capital Markets Union Capital Requirements EU Risk Retention Securitization Transparency Directive

Contractual Recognition of Bail-In – Are You Ready?

The aim of the EU Bank Recovery and Resolution Directive (the “BRRD”) is to establish a framework for the recovery and resolution of EU credit institutions and significant investment firms and to equip EU national authorities...more

12/16/2015 - BRRD EBA EU Financial Institutions Recovery Plans RTS

Revisions to the Securitisation Framework: Final Rules published by the Basel Committee

The Basel Committee on Banking Supervision (the “Basel Committee”) has published the revised securitisation framework setting out the standards for regulatory capital requirements for securitisation exposures held in the...more

5/15/2015 - Banking Sector Basel Committee Final Rules Securitization Market

CRA3 – Final Draft Regulatory Technical Standards in relation to Disclosure Requirements for Structured Finance Instruments

On 24 June 2014, ESMA published its Final Report on the draft regulatory technical standards under CRA3. With respect to structured finance instruments, the Final Report sets out draft standards for the information to be...more

9/9/2014 - CRA Disclosure Requirements EU European Securities and Markets Authority (ESMA) Structured Financial Products

Restructuring of Unlisted EU Companies: AIFMD Applies to Non-EU Fund Managers on Acquisitions of Substantial Stakes

The Alternative Investment Fund Managers Directive (“AIFMD”) imposes restrictions on “asset stripping” on managers (“AIFMs”) of alternative investment funds (“AIFs”) that acquire control of EU companies. The rules contain...more

8/27/2014 - AIFM AIFMD Alternative Investment Funds Asset Stripping Corporate Restructuring EU Notice Requirements Restructuring

Finally Certainty About Licensing SPVs Under the FCA Consumer Credit Regime

From 1 April 2014, responsibility for the regulation of consumer credit in the UK was transferred from the Office of Fair Trading (“OFT”) to the Financial Conduct Authority (“FCA”), drawing certain activities relating to...more

8/21/2014 - Financial Conduct Authority (FCA) FSMA Licensing Rules OFT SPVs UK

EMIR Clearing And Margin Consultation Paper Proposes Rules Which Will Impose Substantial Trading Costs On Market Participants

The European Market Infrastructure Regulation (“EMIR”) imposes a number of risk mitigation techniques on counterparties to uncleared swaps. Some of those involve much tighter operational procedures (such as the rules for...more

5/8/2014 - EMIR EU European Securities and Markets Authority (ESMA) Market Participants Trade Policy

Cross-Border RTS Starts Countdown For EMIR Obligations For Non-EU Counterparties

OTC derivative contracts which have a counterparty located outside of the European Union (“EU”) may now be subject to the requirements of the European Market Infrastructure Regulation(“EMIR”). ...more

4/14/2014 - EMIR EU Extraterritoriality Rules Foreign Jurisdictions OTC

Revisions To The Securitisation Framework: Second Consultative Document Published By The Basel Committee

The Basel Committee on Banking Supervision (the “Basel Committee”) has published a second Consultative Document containing revised proposals for the Basel securitisation framework (the “Revised Proposals”). The Revised...more

2/25/2014 - Banks Basel Committee EU Financial Regulatory Reform Securitization

European CLO 2.0 Issuer Jurisdiction Quick Reference Guide

New issuance of collateralised loan obligations (“CLOs”) rose last year to its highest level since the credit crunch. 2013 saw U.S. CLO issuance rise to about US$81 billion, from US$54 billion the year before while European...more

1/27/2014 - AIFMD Audits Collateralized Loan Obligations EU Investment Funds Reporting Requirements Value-Added Tax Withholding Tax

EU Risk Retention Requirement: A Workable Solution For US CLO Collateral Managers?

Background - Article 405 of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU)...more

1/27/2014 - Banks Collateralized Loan Obligations EU European Banking Authority European Commission Foreign Banks Risk Retention

Markets In Financial Instruments Directive: Agreement In Principle On Revised European Rules

Introduction - On 14 January 2014 the European Parliament, the Council and the Commission reached a high-level agreement in principle on updating the rules for the revised Markets in Financial Instruments Directive...more

1/27/2014 - Cross-Border EU European Commission MiFID Trade Policy

European Banking Authority Publishes Final Draft Regulatory Technical Standards On Securitisation Retention Rules – Who Can Now...

I. Introduction - Earlier this week, the EBA published its final draft Regulatory Technical Standards (“Draft RTS”) on securitisation retention rules and related requirements. The RTS are intended to provide greater...more

12/19/2013 - Banks Capital Requirements EU MiFID Risk Retention Securitization Technical Standards

ESMA Authorises Trade Repositories

The European Market Infrastructure Regulation (including any implementing legislation, regulation, technical standards and guidance related thereto, “EMIR”) was adopted on 4 July 2012 and entered into force on 16 August 2012...more

11/8/2013 - Derivatives EMIR European Securities and Markets Authority (ESMA) Trade Repositories

Master Asset Vehicle II: Redemption Unwind Process

On October 2, 2013, after a multi-year implementation process, amendments to the transaction documents of Master Asset Vehicle II (“MAV II”) and related documents (collectively, the “Amendments”) were executed. The Amendments...more

11/8/2013 - Canada ERISA Rule 144A Securities Act of 1933

22 Results
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.