Gibson, Dunn & Crutcher's Derivatives team is led by lawyers with prior government experience at the U.S. Commodity Futures Trading Commission (CFTC), the Securities and Exchange Commission (SEC), the Federal Energy Regulatory Commission (FERC), Capitol Hill and the White House. Team members bring a wealth of knowledge, insight and familiarity with exchange-traded derivatives, over-the-counter derivatives and commodities, their markets and the regulatory oversight regime. We frequently provide regulatory counsel, legislative advice and representation on complex regulatory, compliance and interpretive derivatives issues before the CFTC, SEC and the U.S. federal banking agencies.
In the derivatives space, we have a unique understanding of the agencies' structures, politics, processes and players. Our lawyers have firsthand experience drafting and interpreting Dodd-Frank rules and CFTC no-action relief. We are uniquely equipped to provide cutting-edge legal, business and operational advice on all issues pertaining to derivatives activities, including:
- Cross-border transactions
- International regulation
- Policies and procedures
- Business conduct
Our diverse derivatives-related client base enables us to understand a range of issues from the perspective of various market participants. Our clients include swap dealers, commercial banks, investment banks, hedge funds, private equity funds, real estate funds, sovereign wealth funds, commercial end-users, insurance companies and other financial end-users, clearinghouses, swap execution facilities, futures commission merchants and trade associations. We assist these clients with interpretation and compliance with the Commodity Exchange Act, CFTC and SEC regulations, U.S. banking regulations, the rules of the National Futures Association (NFA), the Dodd-Frank Act, the European Market Infrastructure Regulation (EMIR) and cross-border derivatives issues.
Further informing our market and industry understanding is the fact that our team helped create and run the Coalition for Derivatives End-Users, which represents the views of approximately 300 active companies and business associations that employ derivatives primarily to manage the risks of their businesses. The Coalition works on both legislative and regulatory fronts to help protect interests of end-user companies in the debate over the appropriate regulation of derivatives and has secured significant legislative exemptions and no-action relief for these companies.