Articles by author
Minority creditors beware: the LME may not be a restructuring under European corporate CDS
In this Spotlight article, the authors consider whether and when typical liability management exercise structures are likely to trigger a restructuring credit event, and the timing for settlement where a restructuring credit event is triggered, under a European corporate credit default swap.
12 APR 2026A comparison of re-proposed SEC Rule 9j-1 and the UK/EU Market Abuse Regulation
Despite industry criticism of the Rule 9j-1 originally proposed in 2010, the SEC recently re-proposed Rule 9j-1 with even further reach in antifraud, anti-manipulation liabilities for security-based swaps. In particular, the re-proposal lowers the standard of mental state requirement for insider trading liabilities, adds a new prohibition on acts and attempted acts of price manipulation, and seeks to apply similar expanded violations to assets underlying or related to the security-based swap. Compared to the re-proposed Rule 9j-1, the UK/EU Market Abuse Regulation has a different scope and is not specifically designed to apply to swaps and derivatives, but contains prohibitions in the same categories as those under the re-proposed Rule 9j-1.
1 APR 2022
