Securitization has been a major focus in the fund finance industry as of late. Due to a confluence of factors, some of which are specific to fund finance, and some of which are features of the broader economic environment, it...more
Leveraging oil and gas assets for capital has become a strategic imperative for independent producers grappling with limited traditional financing options and economic volatility. Asset-backed securities (ABS) in the oil and...more
Earlier last week, the Consumer Financial Protection Bureau (“CFPB”) won an important court ruling in a long-running case against student loan securitization trusts. The case has a long (and for the CFPB, somewhat ignoble)...more
On March 26, 2021, Judge Maryellen Noreika of the U.S. District Court for the District of Delaware dismissed a lawsuit brought by the Consumer Financial Protection Bureau (“CFPB”) in Consumer Financial Protection Bureau v....more
The UK left the EU on 31 January 2020 at 11:00 p.m. UK time. This legal update summarises the application of EU law in the UK after Brexit, with particular reference to the Securitisation Regulation....more
A number of recent structurings of investment-grade rated securitizations of oil and gas wells are sparking conversations in the U.S. upstream oil and gas industry about this relatively new structured finance product....more
In Europe, the market for loan portfolio sales continues to thrive due to post-financial crisis bank deleveraging and a renewed focus on regulatory capital efficiency and return on capital. This "In Practice" article...more
In order to avoid burying the lead, let me tell you where I’m going here. The CRE securitization business is in trouble. We need to throw out what biologists call the punctuated equilibrium, where once a system initially...more
In September 2017, the Bureau of Consumer Financial Protection (the “Bureau”) brought an enforcement action against the National Collegiate Student Loan Trusts for alleged violations of consumer financial protection laws in...more
U.S. Financial Industry Developments - CFTC Proposes Rules to Simplify Process for Foreign Clearing Organizations to Obtain DCO Registration Exemption - On August 8, 2018, the Commodity Futures Trading Commission (CFTC)...more
CFTC Comparability Determination on EU Margin Requirements and a Common Approach on Trading Venues - On October 13, 2017, the U.S. Commodity Futures Trading Commission ("CFTC") announced determinations by the CFTC and the...more
Numerous regulatory developments were enacted or proposed in the United States and the European Union in response to the financial crisis. Although some of the proposed changes are still in the process of being adopted or...more
Il 30 giugno 2017 è stato pubblicato sulla Gazzetta Ufficiale - Serie Generale - n. 151 il provvedimento di Banca d’Italia del 7 giugno 2017, recante “Disposizioni in materia di obblighi informativi e statistici delle società...more
A growing trend is emerging within the insurance sector, where insurers and other users of insurance products are looking to structured finance solutions both from an investment and risk management perspective....more