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Understanding the SEC’s new security-based swap dealer regulations - What should commercial end users, funds, and other financial...

This client alert addresses three aspects of security-based swap (SBS) regulations recently issued by the Securities Exchange Commission (SEC) that are relevant to commercial end users, funds, and other financial end users:...more

Derivatives: The year ahead for U.S. commercial end users, funds, and other financial end users

With 2020 now behind us, we look forward to the year ahead while noting just one of the many lessons of the past year: the difficulty of prediction. We simplify the task by limiting our focus to five topics in derivatives...more

Final rule: The CFTC clarifies the extraterritorial application of cross-border derivatives regulation – implications for the buy...

On 14 September 2020, the Commodity Futures Trading Commission (CFTC) published a final rule in the Federal Register entitled "Cross Border Application of the Registration Thresholds and Certain Requirements Applicable to...more

"The Net Short": U.S. and European High-Yield Covenant Trends in Response to Net Short Activism

On February 15, 2019, the U.S. District Court for the Southern District of New York issued its ruling in the case of Aurelius Capital Master, Ltd. (“Aurelius”) against Windstream Services, LLC (“Windstream”). The origins of...more

Energy and metals companies and funds beware: Your trading positions may be "limited"

On 30 January 2020 the Commodity Futures Trading Commission (CFTC) approved on a 3-2 vote proposed rules addressing position limits on speculative derivatives (Position Limits Proposal). The Position Limits Proposal has a...more

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