Since 2008, a series of extraordinary events has deeply altered the financial industry worldwide. Intertwined with these developments has been a torrent of regulatory responses at all levels, some directed at the financial crisis itself, and others simply indicative of a broader trend towards more regulation. These changes are still in the making. The United States adopted the most significant securities legislation in 75 years with the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, although the implementation of its more than 2,300 pages will take years to accomplish. In the United Kingdom, the Conservative-Liberal coalition government has proposed a restructuring of the primary financial regulator, the Financial Services Authority (FSA), a process which, if implemented, will also take years to complete.
In order to counsel our clients in this dynamic environment, we have formed a Global Financial Markets group consisting of leading lawyers from a wide range of practices, including banking, securities regulation, legislative, litigation, mortgage banking and consumer credit, broker-dealer, derivatives, investment management, hedge fund, government enforcement, and tax and creditors' rights, among others. This group reaches across practice disciplines and national boundaries to address the unprecedented nature of the crisis and its aftermath. All of our lawyers have significant experience representing clients in the financial services and related industries, and many of us have served in senior positions in government and private industry.