US: A brief review of The Interagency Statement on Sound Practices Concerning Elevated Risk Complex Structured Finance Activities
Abstract
A jointly-developed statement to be put in effect by US securities and banking regulators provides for a heightened level of review for complex structured finance transactions (CSFTs). This statement creates a principles-based approach to development by regulated entities of policies and procedures implementing a heightened level of review of prospective CSFTs. It is not anticipated that US branches or agencies of foreign banks will be necessarily expected to develop separate US-oriented policies applicable to CSFTs.This paper was submitted prior to the recent volatility that has appeared in some segments of the structured markets. It will be interesting to see how, if at all, recent circumstances affect implementation of the statement.
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Author's Biography
Josh Cohn is a partner in Allen & Overy LLP. Based in New York, he joined Allen & Overy in 2001 as a partner in the international capital markets practice. He specialises in derivatives, has extensive experience as US Counsel to the International Swaps and Derivatives Association, and represents dealers and end users in a wide range of transactions.
Christian Artmann is a former associate in the International Capital Markets Department of the New York Office of Allen & Overy LLP.
Alisa Ruvinsky is a former associate in the International Capital Markets Department of the New York Office of Allen & Overy LLP.
Citation
Cohn, Josh, Artmann, Christian and Ruvinsky, Alisa (2007, December 1). US: A brief review of The Interagency Statement on Sound Practices Concerning Elevated Risk Complex Structured Finance Activities. In the Journal of Risk Management in Financial Institutions, Volume 1, Issue 1. https://doi.org/10.69554/IQSM9881.
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