Email from Cadwalader

From

To

Subject

Email
On February 9, 2018, a three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit unanimously ruled in favor of the Loan Syndications and Trading Association (“LSTA”) in its lawsuit against the Securities and Exchange Commission (“SEC”) and the Board of Governors of the Federal Reserve System (“FRB”) over the application of U.S. credit risk retention requirements to managers of open-market collateralized loan obligations (“CLOs”). https://www.cadwalader.com/resources/clients-friends-memos/court-of-appeals-decision--managers-of-open-market-clos-not-subject-to-dodd-frank-risk-retention