Earlier this year the Supreme Court in the US overturned to the Chevron doctrine, which stated that if any laws were ambiguous, the courts should defer the interpretation of those laws to federal agencies such as national regulators, and they should presume that their interpretations are correct. With this doctrine overturned, many in the financial services sectors are questioning what this means for regulators in financial markets.
In this episode of the DerivSource podcast “Living the Trade Lifecycle”, Edward Ivey, Partner at Haynes Boone in Charlotte, North Carolina, explains overturning of the Chevron doctrine might mean for future regulation by the CFTC.
About Edward Ivey:
Edward “Ed” Ivey is a partner in the Finance Practice Group in Haynes Boone’s Charlotte office.
Ed’s practice focuses on regulatory and transactional matters across the swaps, futures, derivatives and digital assets industry, and advising clients on various types of debt and equity capital market activities for financial institutions ranging from Wall Street banks to community banks in North Carolina. He also has experience working for two major Wall Street banks, focusing on OTC and cleared derivatives, structured transactions, structured products, commodities, digital assets, hedge funds and Dodd-Frank regulatory issues related to these areas.
Ed also represents several swap dealers, traders and liquidity providers in the digital and crypto assets markets. In this role, he drafted one of the first suites of Prime Broker Documentation for use in the digital assets space and various total returns swap structures providing bespoke financing solutions to clients and their counterparties.
Ed represents borrowers/debtors and lenders/creditors, in derivatives, bankruptcy and structured products to enhance financing through structuring debt, equity and hedging activities, or present alternative financing arrangements that can lower costs and risks to both parties He also helps clients navigate transactional and regulatory matters for registered and non-registered entities to minimize costs and regulatory burdens, with a particular focus on the Commodity Exchange Act, Investment Company Act and Securities Act.
Ed has worked with clients on developing hedging strategies for their commercial risks by using derivative and exchange-traded transactions such as FX swaps, interest rate swaps, forwards, futures and physical commodity transactions. He has also helped regional and community banks develop and implement their internal swap programs for borrowers, as well as advising larger registered swap dealers on their day-to-day swap negotiations and regulatory needs.
He has also been interviewed or asked to speak at various conferences, including the ABA Annual Futures and Derivatives Law Committee Conference, FIA Law and Compliance Conference, Managed Funds Association New York Conference, and the American Conference Institute’s National Advanced Summit on Swaps and Derivatives Global Market Regulation. He has also been interviewed and quoted in various publications, including Risk.net, OTC Space, Derivsource.com, Lexis Nexus Banking & Finance, International Financial Law Review (IFLR), the American Banker and DerivSource.com.
Related Reading:
Below are some references for additional information covered in the podcast.
Aegis’ SEF registration story – “Our Story” and SEF registration press release
CFTC orders regarding CTA fines related to SEF registration
More regulatory news and content
