Partner
Norton Rose Fulbright US LLP
Steven Lofchie is a Partner based in New York. He advises financial institutions and corporate clients on the securities laws and the Commodity Exchange Act, with particular focus on the regulation of broker-dealers, swap dealers, investment funds and other market intermediaries. Steven's transactional practice focuses on securities credit and derivative transactions.
Recent Articles & Comments
In the letter, the representatives state that "the rulemaking appears designed to force banks to ignore material risks posed by fossil energy companies . . . while providing them access to any banking product or service they want." Should banking regulators affirmatively discourage banks from providing financial services to the U.S. energy industry? Does that seem like an effective way to combat climate change?
Notably, the OCC's proposed rule is also disfavored by the banking…
No parties, but you can still dance.
This is a difficult issue. How can the government prevent holders of very liquid assets from dumping those assets during a market panic - other than by providing a governmental backstop? And if the government does provide a backstop, there is really no difference between a money market fund investing in private assets and a government securities fund, in that investors in both funds can look to the government as the ultimate obligor.
This is an issue that the incoming majority at the…
The early South Wacker line on this is that you have to bet 0 on rejection to win 0 with a spread of 1.5 Commissioners. The over/under for a CFTC decision is 114 calendar days.
Exotic bets are also available, including which happens first: Jets win the AFC or contract approval?