Cadwalader was named “Team of the Year” in the “Financial Services Regulatory” category, as part of the 2022 IFLR Americas Awards last week in New York. The IFLR noted the role Cadwalader’s Financial Services Regulatory team played in helping to shape the use of crypto currencies in the wealth management industry, as well as its role in LIBOR transition.

In recognition of the team’s market-leading LIBOR transition practice, Cadwalader Financial Services partner Lary Stromfeld was awarded with a prestigious “Outstanding Achievement Award” for his “Contribution to Regulatory Reform.” Stromfeld leads Cadwalader’s LIBOR Preparedness Team, whose work in recent years has included representing the U.S. Federal Reserve’s Alternative Reference Rates Committee (ARRC) and a broad range of financial services clients on moving away from LIBOR.

IFLR says Stromfeld “has played a key role in one of the biggest issues facing the financial sector for most of the last decade: LIBOR transition,” referencing his role in the passage of New York State legislation in 2021 that addressed legacy contracts. IFLR notes: “This marks a crucial step in streamlining and simplifying the transition process for the whole industry,” while also assisting other states in governing their own transitions. IFLR also credits Stromfeld for his role in developing a similar legacy law at the federal level.

In December, Cadwalader won the 2021 Financial Times “North America Innovative Lawyers” award in the highly competitive category of “Creating new standards,” in recognition of the firm’s LIBOR transition practice.

Cadwalader’s Financial Services group, which is co-chaired by James Frazier and Ivan Loncar, is a market-leading team whose attorneys are experienced in virtually all financial law-related statutory and regulatory requirements, including those governing broker-dealers, securities and futures exchanges, clearing corporations, banks, insurance, investment advisers, and funds and pension plans. The group is also focused on supporting clients in developing service areas, such as ESG, crypto and digital assets.