In a 30-minute audio podcast, two leading lawyers offer an update on the potential extraterritorial reach of the Dodd-Frank Wall Street Reform & Consumer Protection Act and discuss how different interpretation of provisions by US regulators may impact US and non-US financial institutions and their cross-border activities including trading, clearing and reporting swaps.
Speakers:
Donna M. Parisi is a partner, former Practice Group Leader of Shearman & Sterling’s Asset Management Group, and current member of the firm’s Executive Group and Policy Committee. Ms. Parisi’s practice focuses on derivative, structured product, securitisation, capital market and commodities matters.
David Lucking is a partner at Allen & Overy in New York office, specialising in derivatives and structured finance transactions as well as the regulatory framework that underpins the derivatives market. David advises financial institutions on a wide range of derivatives products and asset classes (including credit, rates, FX, longevity) in both funded and unfunded form.
The panel will discuss the follow points:
• Evolution of extraterritoriality provisions within Dodd-Frank to date
• What cross-border trading activities need to be clarified
- ◦ definition of a US person
- ◦ major swaps dealer registration
- ◦ trading via execution facilities such as SEFs
- ◦ central clearing
- ◦ transaction reporting (SDRs)
• Looking forward – what’s next for this issue?
Please listen to this podcast and send us questions or comments via the comments section at the bottom of this page.
