Banking Regulation After the Financial Crisis: In association with Morrison and Foerster LLP
Benefits
After completing all training podcasts in this bundle you will:
- Be aware of the new European legislative proposals that impose strict regulations on over-the-counter derivative transactions
- Understand the key global proposals for change in the banking sector and the reasons behind these changes
- Recognise the role of contingent capital bonds and their increasing popularity
- Grasp the purpose of the main provisions in the Dodd-Frank Act and the effect on the UK of this piece of US legislation
- Appreciate the new global regulatory standards on bank capital adequacy and liquidity set out in Basel III
- Be aware of how some of the recent amendments have been implemented by the Capital Requirements Directive
- Gain an overview of how the most common derivative contracts work
- Become familiar with covered bonds, an increasingly popular funding instrument in the US
- Have a complete overview of the regulatory proposals affecting securitisation and structured finance transactions in the aftermath of the financial crisis
Training Bundle Overview
Banking regulation is once again in the spotlight following the financial crisis. Listen to this fascinating selection of online CPD podcasts with lawyers from international banking law firm Morrsion and Foerster LLP. This bundle will provide you with a critical analyses of the most important UK and international developments.
- CPD Points:
- This bundle can provide up to 9 points details »
- Price:
- £325 (includes unlimited access until the end of 2013!)
- Suitable for:
- In-House Legal Advisers
- Solicitors
- Barristers
- Practice Area:
- Banking and Financial Services
- Contributors:
What is a CPDcast Bundle?
CPDcast training bundles contain a hand-picked selection of our CPDcasts that together will provide you with a discrete in-depth analysis of specific legal developments from scrutiny of the statutes and case law to practical application.
Contents
Banking Regulation After the Financial Crisis contains the following CPDcasts:
- with Jeremy Jennings-Mares from Morrison & Foerster
This podcast aims to give the listener an overview of the Capital Requirements Directive and the reasons it has recently come under scrutiny by EU lawmakers. It looks at the propsed amendments that practitioners should be aware of and the important changes that have already been introduced. In addition, it looks at the revised definition of capital under article 57(a) and the criteria for the categories in the guidelines.
After completing this course you will:
- Understand the composition of the Capital Requirements Directive;
- Know what amendments have been proposed to the Directive;
- Be aware of the important changes that have already been introduced in this area;
- Understand the revised definition of capital under Article 57(a) of the Capital Requirements Directive;
- Be familiar with the criteria for the categories in the CEBS guidelines.
- with Anna Pinedo from Morrison & Foerster
This podcast aims to give the listener a comprehensive overview of the provisions in the Dodd-Frank Act that are relevant to non-US banks. Anna Pinedo, a partner in the New York office of Morrison & Foerster, summarises the key areas of the Dodd-Frank Act and looks at the concept of systemically important financial institutions and the mandated studies currently in progress that may have an effect on banks. In particular, the podcast considers how non-US institutions are likely to be affected by the changes and how practitioners can prepare for this. The podcast also clarifies the different categories of institution and the provisions that apply to them respectively. Ms. Pinedo discusses the Volcker Rule and the concept of a nonbank company and permitted activities under the rule. Finally, the rules relating to derivatives and the Lincoln Provision is discussed, before comparing the EU and US regimes.
After completing this course you will:
- Appreciate the purpose of the Dodd-Frank Act;
- Understand the concept of a SIFI;
- Be aware of the mandated studies currently affecting banks;
- Know the effect the legislation in the US will have on UK institutions;
- Be able to identify the categories into which an institution belongs;
- Have an overview of the Volcker Rule and its effect in the UK;
- Know how UK institutions will be affected by the Lincoln Provision;
- Appreciate the difference between the EU and US regimes.
- with Anna Pinedo from Morrison & Foerster
This podcast aims to give a comprehensive guide to covered bonds, including legislation and investment. It discusses the differences between covered bonds, unsecured bonds and asset-backed securities and looks at the benefits to investors and issuers of covered bonds. It then examines the jurisdictions that have legislation and compares this to jurisdictions without legislation before exploring the legislative proposals in the US. Finally, the podcast discusses foreign investment in the US market.
After completing this course you will:
- Know what covered bonds are;
- Know what asset class covered bonds fall into;
- Understand the differences between covered bonds and other types of investment;
- Be aware of the benefits to issuers and investors of covered bonds;
- Appreciate the differing approaches of countries with and without legislation;
- Be aware of the current legislative proposals being put forward in the US and how this affects foreign markets;
- Understand the nature of the US covered bond market;
- Be aware of the alternatives for foreign issuers;
- Understand Rule 144A and Section 3(a)(2);
- Know the threshold for a Qualified Institutional Buyer.
- with Peter Green from Morrison & Foerster
This podcast aims to give the listener a comprehensive overview of the OTC derivatives EU regulatory proposals. It looks at the role of derivatives in the financial crisis and the impetus behind these recent proposals. The podcast examines these proposals in detail, looking at the aspects of derivatives that the EU intends to regulate and which derivatives contracts and participants will be covered. Finally, this podcast compares the EU proposals to the regulatory initiatives in other jurisdictions.
After completing this course you will:
- Be aware of the regulatory proposals for derivatives in the EU;
- Understand the reasons behind these proposals;
- Recognise the type of derivative contracts which will be covered by the regulations;
- Know who will be affected by the regulations;
- Appreciate the differences and similarities between the EU regulation and other international regulatory proposals.
- with Peter Green from Morrison & Foerster
This podcast aims to provide an overview of the new areas of regulation for banks. It considers the impetus behind these regulatory proposals and looks at how the key issues are being addressed in practice. The concepts of "too big to fail" institutions, "moral hazard" and "living wills" are explored. This podcast examines the EU proposals and compares and contrasts these with the US and UK proposals before commenting on the likely impact on international banks.
After completing this course you will:
- Be aware of the international regulatory proposals affecting banks;
- Understand the reasons these reforms were implemented;
- Know what is meant by a "too big to fail" institution;
- Understand the concept of "moral hazard";
- Know what a living will is and the requirements for a living will;
- Appreciate the impact these regulations will have on the banking industry and the lines of businesses that will be affected by the regulatory proposals.
- with Jeremy Jennings-Mares from Morrison & Foerster
This podcast aims to provide a comprehensive overview of derivatives for legal professionals. It defines a derivative contract and looks at how derivative contracts can be used to accomplish a variety of financial objectives. It then looks at the different types of derivative contracts and their many uses. This podcast also explains the role of ISDA documentation before exploring the role of derivatives as a risk management tool and addressing popular misconceptions about the use of derivatives.
After completing this course you will:
- Understand how a derivative contract works;
- Understand the concept of a swap, a forward and an option;
- Understand the range of reference assets underlying derivative contracts;
- Understand the role of ISDA documentation in derivative contracts and negotiations;
- Know the common misconceptions and publicly held views about derivative contracts.
- with Elana Hahn from Morrison & Foerster
This podcast discusses recent legal developments relating to securitisation and structured finance transactions in response to the financial crisis. In particular it focuses on transparency, due diligence and investor protections; eliminating conflicts of interest; risk retention; and other risk issues. Elana Hahn, a partner at law firm Morrison & Forester gives an overview of the new rules and discusses the impact they will have in practice.
After completing this course you will:
- Be aware of newly adopted and proposed reforms affecting securitisation and structured finance transactions;
- Know the recent developments relating to obligations imposed on investors in structured products;
- Appreciate the role of rating agencies and the new rules applicable to them;
- Understand the new rules relating to loan-level data introduced by the Bank of England;
- Be aware of the OTC derivatives regulatory proposals;
- Have an overview of the proposals in the EU and the US to eliminate conflicts of interest;
- Understand risk retention issues.
- with Jeremy Jennings-Mares from Morrison & Foerster
In this podcast, Jeremy Jennings-Mares, a partner at law firm Morrison & Forester, gives the listener an overview of the Basel III framework. The podcast discusses the regulatory capital aspects, including changes to the quantity and quality of capital to be held by banks and explores the concept of common equity Tier 1 and Tier 2 capital. It also examines the capital buffers and loss absorbency criteria introduced by Basel III. Finally, this podcast discusses leverage and liquidity ratios.
After completing this course you will:
- Recognise the differences between Basel II and Basel III;
- Understand the role of Basel III in changing the quantity and quality of capital to be held by banks;
- Understand the concept of common equity Tier 1 and Tier 2 capital;
- Be aware of the rules introduced by Basel III regarding capital buffers;
- Appreciate the new loss absorbency criteria;
- Know the rules applicable to leverage and liquidity ratios in Basel III.
- with Anna Pinedo and Thomas Humphreys from Morrison & Foerster
In this podcast, Anna Pinedo and Thomas Humphreys discuss contingent capital and the regulatory interest in this financial instrument. The podcast looks at the performance of hybrid instruments during the financial crisis and the regulatory response to this before outlining the types of instruments that would be classified as contingent capital. In particular, the concept of triggers and conversion features is explored. This podcast also features case studies of the contingent capital transactions undertaken by Lloyds, Rabobank and Credit Suisse and includes an analysis of the tax, ratings and other considerations applicable to these financial instruments.
After completing this course you will:
- Understand the concept of contingent capital;
- Appreciate the recent regulatory focus on this area;
- Understand the link between hybrid securities and contingent capital;
- Know what is meant by a conversion or trigger feature and how these work;
- Be aware of what happens in the event the trigger is breached and the complexity inherent in setting appropriate triggers;
- Understand the features of the contingent capital instruments used by Lloyds, Rabobank and Credit Suisse;
- Recognise the relevant tax issues when dealing with contingent capital instruments.
Contributors
Banking Regulation After the Financial Crisis features the following legal experts:
Green, Peter (Morrison & Foerster)
Peter Green has been a partner in the London office of Morrison & Forester, which he joined in 2007 from Freshfields Bruckhaus Deringer. He is a specialist in structured credit and structured products and advises a wide range of clients including investment banks, issuers and investors on both public offerings and private placements. Peter has acted in relation to collateralised debt obligations, securitisations and a variety of matters involving structured derivatives. He is a contributor to the Practising Law Institute's Covered Bonds Handbook and is admitted to the bar in England & Wales and New York.
Hahn, Elana (Morrison & Foerster)
Elana Hahn is a partner in the London office of international law firm Morrison & Forester. She advises a diverse clientele including investment managers and financial institutions on a wide range of international transactions. Elana specialises in securitisation and structured finance deals across a wide range of asset classes and structures (including trade receivables securitisations, real estate and debt fund financings, infrastructure financing and whole-business securitisations and CDOs/CLOs). She is cited as "a market phenomenon." Clients praise her "consistent high quality of work in complex transactions" (Legal 500, 2009). She was cited as a "Leading Individual" in Chambers UK 2008 (under Capital Markets—Structured Finance), which observed that she is "an accessible, extremely hard-working and hands-on partner." Ms. Hahn is admitted to practice in England and Wales and in Ontario, Canada as Barrister and Solicitor. She is fluent in both Russian and French.
Humphreys, Thomas (Morrison & Foerster)
Thomas Humphreys is a partner in the New York office of Morrison & Forester, where he heads the Federal Tax Practice Group and co-chairs the Tax Department. He has particular expertise in handling the tax related aspects of capital markets transactions, financial instruments, real estate investment trusts, mortgage and asset-backed securities, mutual funds, mergers and acquisitions, bankruptcy and reorganization, and international transactions. Mr. Humphreys advises investment banks and issuers on the development of new financial products and the major capital markets developments in the last decade. He is an adjunct professor of law at New York University Law School, where he teaches Taxation of Financial Instruments in the LL.M. program and a member of the faculty of the European Tax College in Brussels, Belgium, where he teaches a seminar on the U.S. Taxation of Financial Instruments.
Jennings-Mares, Jeremy (Morrison & Foerster)
Jeremy Jennings-Mares is currently a partner at law firm Morrison & Forester. He joined the firm in 2007 from Freshfields Bruckhaus Deringer, where he had been a partner since 2001. Jeremy's practice specialises in a wide range of areas within the firm's Capital Markets Group including international capital markets, structured products, derivatives and structured finance.
Pinedo, Anna (Morrison & Foerster)
Anna Pinedo is a partner in the Capital Markets Group of Morrison & Foerster LLP. Ms. Pinedo concentrates on securities and derivatives, representing issuers, investment banks and financial intermediaries in financings, including public and private offerings of equity and debt securities, as well as structured products and innovative financial products. In the derivatives area, she counsels financial institutions acting as dealers and participants in the derivatives markets. Ms. Pinedo advises on structuring issues, as well as on regulatory issues and hedging techniques. She speaks and writes regularly on financial instruments and other securities laws issues. She is also an active participant in various bar and other professional associations.
