In a new staff report, the SEC Division of Economic and Risk Analysis considered the interconnections among six separate U.S. credit markets, and how three distinct types of stresses in each of the markets affected the products and participants during the COVID-19 pandemic.
The DOJ and the SEC charged the manager of a hedge fund with securities fraud, wire fraud, extortion and obstruction of justice related to his "conduct in the offer of certain shares being disposed of as part of the Neiman Marcus Group Ltd. bankruptcy proceedings."
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.
Several congressional members urged Treasury Secretary Steven Mnuchin to address liquidity challenges facing mortgage servicers in order to prevent an "impending crisis" within the mortgage servicing sector.
Cadwalader attorneys reviewed a Colorado case concerning marketplace lending in which certain securitization trusts that had acquired the Defendant's loans were charged for violations of the state's Uniform Consumer Credit Code.
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).