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Nihal Patel
Partner
Fried, Frank, Harris, Shriver & Jacobson LLP

Nihal Patel is a partner in the firm’s Financial Services Group. He counsels both financial institutions and “buy-side” market participants on a variety of regulatory and compliance issues relating to securities and derivatives trading. This includes, inter alia, advice as to numerous aspects of broker-dealer regulation and swap regulatory issues arising under Title VII of the Dodd-Frank Act.

He also has substantial experience in drafting and negotiating prime brokerage, derivatives, and other trading and financing documentation. Recently, he was a member of a team that represented ISDA in the drafting of protocols and other documentation for addressing requirements of CFTC regulations adopted under Dodd-Frank. He has also been a speaker on these and related topics at industry conferences in the United States and abroad.

Nihal is a contributor to the chapters on trading and dealings with customers in Lofchie’s Guide to Broker-Dealer Regulation and the swap definition, margin, and employees chapters of Lofchie’s Guide to CPO/CTA Regulation.

He earned his B.A. from Northwestern University and his J.D. from the Northwestern University School of Law, where he served on the board of the Northwestern University Law Review. Nihal is admitted to practice in the State of New York.

Practice Areas

  • Broker-Dealer Regulation
  • Commodities & Futures Regulation
  • Derivatives & Structured Products
  • Financial Regulation
  • OTC Derivatives
  • Structured Products
  • Swap Regulation

Admissions

  • New York

Education

  • Northwestern University, School of Law J.D., 2010
  • Northwestern University B.A., 2004

Recent Articles & Comments

September 15, 2022

This latest extension of the relief comes more than three years after the CFTC staff issued a strange statement saying it "will not be extending [the then Sept 15, 2020 deadline] at any point." Even this latest extension seems likely to be considered again a year from now, given that the CFTC has yet to propose amendments to the rules.

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September 12, 2022

While the Paper does not provide much in the way of prescriptions, it does a good job of highlighting some of the current issues in clearing services. Namely, how to respond to the fact that governments are continuing to expand clearing requirements at a time when clearing services are increasingly concentrated in a limited number of providers.

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August 30, 2022

The notice provides little interpretive gloss on these notice requirements (e.g., what "additional product type" means or what a "material change" to an assumption means), other than saying that notifications are not required in connection with new releases of ISDA SIMM.

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August 17, 2022

Beyond FINRA, all other entities that have access to SBSDR data are governmental authorities with some express statutory role for overseeing Security-Based Swaps ("SBSs") and/or SBS dealers.

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