The U.S. District Court for the Southern District of New York held that certain syndicated loans sold to institutional investors are not "securities" and rejected claims of violations of federal and state securities laws.
News & Insights
Cadwalader attorneys reviewed a recent court filing concerning the ongoing challenge to the "bank origination model" (i.e., when lenders use arrangements with unaffiliated banks to originate their loans).
Several recent rulings illustrate the risks that persist in some states for marketplace lenders utilizing the bank origination model.
The CFTC issued an order excluding institutions in the Farm Credit System from the definition of "commodity trading advisor." The CFTC explained that any trading advice offered by such institutions is "solely incidental to their primary lending business."
ISDA launched a new protocol to help market participants comply with the EU Bank Recovery and Resolution Directive and to make certain acknowledgments of bail-in powers.