Unmanned Aircraft Systems and Cybersecurity Alert: President Obama Issues Presidential Memorandum on Unmanned Aircraft Systems Privacy, Launches Department of Commerce Multi-Stakeholder Privacy Process
Insurance Alert: Financial Body Releases Survey Results on Credit Risk
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Kramer Levin recently created a Financial Institutions practice group consisting of experienced attorneys of the firm's banking, capital markets, claims trading, corporate, corporate restructuring and bankruptcy, derivatives, financial services, insurance, litigation and tax groups. The practice group provides services to a wide variety of financial institutions and market participants and has been actively involved in helping them address legal issues in connection with the current credit crisis and distress in global financial markets.
The alert describes issues to consider when a derivatives dealer counterparty becomes insolvent, such as issues involving termination of a master agreement, close-out netting of underlying trades and collateral.