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Sutherland Legal Alert: Pending Derivatives Legislation Would Create Legal Uncertainty for Existing Contracts—Particular Concerns for End-Users

There never was much doubt that the regulatory reform legislation being considered in the wake of the recent financial meltdown would change the way in which the over-the-counter (OTC) derivatives business is conducted going forward. From the outset, the Obama Administration proposed regulatory changes...

A Tale of Five School Districts and a Trusted Adviser

Where are the market crisis cases is a long standing question. There have been investigations. Some cases have been brought. Some investigations have been closed. Still, the question remains - where are the market crisis cases? The Commission filed a new market crisis case. It may be among the...

International Reform of OTC Derivative Regulation: How Level Is the Playing Field?

by Peter J. Green and Jeremy Jennings-Mares Excerpt: Increased regulation of derivatives has been a key element of international efforts to strengthen the global financial regulatory framework. Following the bailout of AIG, primarily due to its massive exposure under credit default swaps, the initial...

Bank of America to Pay $1.7B to Settle Mortgage-Backed Securities Claims

NEW YORK - (Mealey's) Bank of America Corp. (BoA) will pay nearly $1.7 billion to MBIA Inc. and certain of its subsidiaries to settle claims in New York State court that BoA misrepresented the investment quality of and risk associated with certain mortgage-backed securities (MBS) it sold to MBIA...

A Closer Look at AIG’s $960 Million Credit Crisis-Related Securities Suit Settlement

AIG has agreed to pay $960 million to settle the consolidated securities class action lawsuit that had been filed against the company and certain of its directors and officers in the wake of the company’s near collapse at the peak of the credit crisis. The settlement, which AIG disclosed in its...