Buy-Side Beware: New Limits on Insolvency-Related Remedies in Certain QFCs (Volume 34, Number 4– April 2018)
Author: Philip T. Hinkle.; Robert H. Ledig.; Shayna Gilmore.
Source: Volume 34, Number 04, April 2018 , pp.33-45(13)
Abstract:
Federal banking regulators recently adopted final rules that will restrict insolvency-related contractual remedies of certain buy-side entities transacting in covered QFCs with U.S. and foreign GSIBs, and their affiliates. The authors discuss the ins and outs of these complex rules and report the regulators’ responses to the numerous comments received on the proposed rules.Keywords: Remedies in Certain QFCs Qualified Financial Contracts (“QFCs”); 82 Fed. Reg. 42882 (Sept. 12, 2017) (Board Rules); 82 Fed. Reg. 56630 (Nov. 29, 2017) (OCC Rules); 82 Fed. Reg. 50228 (Oct. 30, 2017) (FDIC Rules)
Affiliations:
1: Dechert LLP; 2: Dechert LLP; 3: Dechert LLP.