Significant Risk Transfers and Capital Relief Trades: Negotiating, Structuring; Legal and Regulatory Considerations

Mr. Hwang has represented issuers, underwriters, placement agents, trustees, and investors in asset-backed financings and securitizations across a wide range of structures and asset classes, including traditional consumer and commercial asset securitizations and esoteric digital infrastructure, renewables, digital assets and aviation financings. He has led a number of market-leading and innovative structures in the U.S. and in the cross-border market. Mr. Hwang has represented numerous clients on the development of innovative structures involving structured finance products. His work also includes advising clients in connection with asset portfolio purchases and dispositions. Mr. Hwang has played a key role in the drafting of comment letters for industry groups regarding various proposed regulations affecting offerings of asset-backed securities.

Mr. Joseph specializes in derivatives and structured finance, with a particular focus on repackaging, credit-linked products and Islamic finance. He has extensive experience advising on a range of complex financing transactions linked to a variety of asset classes, including products (both in conventional format or Shari’a-compliant solutions) linked to debt securities, loans, interest rates, credit, funds, repos and stock loans, as well as on bespoke capital relief structures. As well as advising a number of dealers on their proprietary repackaging programmes and bespoke SPV-based transactions, Mr. Joseph has developed a market-leading specialism on the SPIRE secured note programme, the market leading multi-dealer repackaged note issuance platform. He regularly advises, and is a key contact for, a number of the world’s largest financial institutions on their structured financing needs. Mr. Joseph also has considerable experience advising on synthetic securitizations in all formats. He has acted for supranational institutions, financial institutions and investors across jurisdictions in their respective risk sharing transactions and on an array of structures.

Mr. Lucking advises global financial institutions and private credit funds on a wide range of derivatives products and asset classes (including credit, rates, FX, equity, longevity) in both funded and unfunded form. He has drafted a number of market standard document templates for the ISDA and other derivatives industry bodies, including the 2014 ISDA Credit Derivatives Definitions and documentation for confirming trades referencing the iTraxx and CDX indices. Mr. Lucking is a leader in the credit derivatives market. He is the U.S. adviser to the Credit Derivatives Determinations Committees which determine Credit Events and other matters for the global credit derivatives market. Mr. Lucking also regularly advises on various aspects of the transition of the over-the-counter derivatives market to regulated trading platforms and central clearing houses, as well the registration of swap dealers under the Dodd-Frank Act.