The U.S. financial regulation group is part of a market-leading financial regulation practice that advises banks, investment banks, exchanges, trading and settlements systems and other players in the financial services sector around the world. The U.S. group advises domestic and international banking organizations on a variety of regulatory matters, particularly in the context of joint ventures, spin-offs and other M&A transactions. The group regularly advises on U.S. regulatory developments, such as the Volcker Rule, and their intersection with UK and EU financial regulatory developments. Increasingly, the group is focused on new approaches to prudential regulation, bank insolvency regimes, and other regulatory responses to "too big to fail." The group also provides regulatory capital advice, including capital-raising and liability management exercises.
The U.S. group regularly represents clients before the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and various state banking regulators.
Recent experience includes advising:
- Piraeus on the sale of Marathon Bank
- the management team of an insurance subsidiary of a major U.S. financial holding company in connection with a partial spin-out to other investors and creation of a joint venture
- the management team of a global bank in connection with the spin-out of a high frequency trading platform
- a major U.S. financial services firm in connection with a swaps joint venture
- a major U.S. asset manager in connection with the Volcker Rule implications of its funds business
- major buy-side participants on the Basel III capital implications to bank counterparties of the netting and set-off provisions of ISDA and other agreements