Harvey Miller and Maurice Horwitz have published an article entitled “A Better Solution Is Needed for Failed Financial Giants” in DealBook, the financial news section of The New York Times. In the article, the authors discuss the challenges that arise when resolving a failed global financial institution across national borders. For legislators and regulators looking for a solution to this issue, the authors argue that the key to solving the cross-border conundrum is not legal harmonization, but rather, mandated coordination among regulators, and a shift in fiduciary obligations from individual legal entities or jurisdictions to the group and the global financial system.
To read the article, please follow this link.
To learn more about Weil’s Financial Regulatory Reform Working Group, please follow this link.
More from the Bankruptcy Blog
Copyright © 2019 Weil, Gotshal & Manges LLP, All Rights Reserved. The contents of this website may contain attorney advertising under the laws of various states. Prior results do not guarantee a similar outcome. Weil, Gotshal & Manges LLP is headquartered in New York and has office locations in Beijing, Boston, Dallas, Frankfurt, Hong Kong, Houston, London, Miami, Munich, New York, Paris, Princeton, Shanghai, Silicon Valley, Warsaw, and Washington, D.C.