Ring-Fencing

"UK Regulators to be Given Power to Break Up UK Banks"

by Patrick Brandt, Lorenzo Corte, Scott Hopkins, Shaun Lascelles, Allan Murray-Jones, William Sweet, Jr. | Skadden, Arps, Slate, Meagher & Flom LLP on 3/19/2013

The U.K. Government recently published the Financial Services (Banking) Reform Bill (the “Bill”) which implements the key recommendations of the U.K.’s Independent Commission on Banking (the “ICB”). The ICB was established in...more

Uncleared OTC Derivatives and Margin Requirements

by Chris Borg, Joanna Williams | Reed Smith on 2/21/2013

BCBS/IOSCO Second Consultation Paper and its implications for EMIR - Much of EMIR is now coming more clearly into focus. But a major unknown has for a long time been the question of margin requirements for uncleared OTC...more

Orrick's Financial Industry Week In Review - February 11, 2013

by Orrick, Herrington & Sutcliffe LLP on 2/14/2013

In This Issue: *RMBS Litigation - Assured Wins $90 Million in Damages in RMBS Breach of Contract Trial - DOJ Brings Civil Fraud Action Against S&P - S&P Seeks Declaration That Credit Ratings Are Immune From...more

UK’s HM Treasury Unveils Bank Break-Up Legislation, Expects Passage Next Year

by BuckleySandler LLP on 2/13/2013

On February 4, Britain’s HM Treasury introduced legislation—entitled the Banking Reform Bill—that would provide regulators with new authority to break up a bank if its investment activities put deposits at risk. The...more

Legal Uncertainty in Proposed Ring-Fencing Provisions

by Orrick - Structured Finance Group on 2/11/2013

On February 5, the Financial Markets Law Committee published a paper highlighting uncertainties identified in relation to the ring-fencing provisions contained in the draft Financial Services (Banking Reform) Bill 2012 –...more

Segregated Portfolio Companies

by Louise Groom, Sean Scott | Harney Westwood & Riegels on 1/24/2013

Any Cayman Islands exempted company (the most common Cayman corporate vehicle limited by shares), including those to be established as funds, may be registered as a segregated portfolio company (an SPC). Registration as an...more

A Proposed Fundamental Shift in US Foreign Bank Supervision

by Glen R. Cuccinello, Ernest (Ernie) T. Patrikis, Duane D. Wall, Francis Zou | White & Case LLP on 1/11/2013

The Board of Governors of the Federal Reserve System (“Board”) has devoted some time to considering how to address the potential threat to the financial stability of the United States posed by a foreign bank with banking...more

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