Media Mentions
2011
“Practice Spotlight: Andrea S. Kramer”
Thomson Reuters “Business Law Currents,” April 19, 2011
Andrea Kramer outlined post-Dodd-Frank Act trends in the derivatives markets. She singled out “the different clearing systems that are currently being debated with the regulators [which] could give us very different tax results. [T]he tax trends we are seeing now are basically following the ways in which the markets are moving and how they are being regulated. That will shape how the tax rules ultimately apply.” In this and other areas, the “CFTC is moving faster than the speed of sound with proposed regulations and rules, while the SEC is moving with much more caution.” Ms. Kramer noted that most affected by Dodd-Frank will be transactions “that are customized, highly structured and that have a special business purpose.”
Andrea S. Kramer, Derivatives, Structured Finance and Financial Products, Energy Advisory, Tax
“Crunch Time for U.S. Commodity Speculation Crack-Down”
Reuters, March 23, 2011
Andrea Kramer said of the new Commodity Futures Trading Commission (CFTC) proposal requiring companies and dealers making “bona fide hedge” trades to provide evidence they are not speculative that, “It’s going to be a compliance mess.”
Andrea S. Kramer, Derivatives, Structured Finance and Financial Products
“The New Regulatory World in 2011”
Thomson Reuters Special Report, March 18, 2011
Andrea Kramer singled out clearing as a major cost issue in Dodd-Frank Act regulations on OTC derivative trading. “If you don’t have to clear your position … you don’t have to worry about the margin and capital requirements” which historically have not applied to hedge transactions, she said. Ms. Kramer warned that “it’s going to cost a lot of money to become a swap dealer or major swap participant” should clearing of hedge transactions be required. If hedge funds are put into these categories, she concluded, “We’re going to see a significant contraction in the leverage available” because the cost of trading will rise for the funds.
Andrea S. Kramer, Derivatives, Structured Finance and Financial Products
“Northern Trust Helps Institutional Clients Navigate Dodd-Frank Act’s Impact on Derivatives”
Business Wire, February 25, 2011
Andrea Kramer participated in a webinar sponsored by Northern Trust for some 100 participants, and spoke on how the Dodd-Frank Act’s provision for central clearing of derivatives will affect such buy-side institutions as U.S. public and private pension funds and corporate treasury desks.
Andrea S. Kramer, Derivatives, Structured Finance and Financial Products, Energy Advisory, Structured Finance and Derivatives
2007
Andrea Kramer was named among in The National Law Journal 50 Most Influential Women Lawyers in America published on May 28.
Andrea S. Kramer, Derivatives, Structured Finance and Financial Products, Tax
2006
Edwin Laurenson was quoted in August 17 issue of HFM Week in an article that questions the longer lock-in periods that are becoming increasingly acceptable in the hedge fund industry despite the end of SEC rule. Mr. Laurenson provides perspective on still imposing these lock-ins "only managers reasonably sought-after were able to impose a two-year lock-in to get around SEC registration and will be able to keep it. They had market power to do it in the first place. They had to be someone in a considerable degree of demand."
Edwin C. Laurenson, Corporate, Derivatives, Structured Finance and Financial Products, Hedge Funds
