Beaumont Quoted in Financial Times Article on Derivatives Reform Pact

September 11, 2013

FKSA litigation partner Anne E. Beaumont is quoted in an article in the Financial Times on the just-announced agreement among major banks to amend their derivatives documentation to suspend termination rights in the case of a major bank failure.

The article, "Banks agree to derivatives rules to cope with future crisis," (subscription required) by Philip Stafford and Tracy Alloway, was published on October 11, 2014 and discusses some of the potential limitations of and shortcomings in the banks' agreement. Ms. Beaumont commented on the difficulty of countering the advantage it appears to confer on market participants that are not parties to the agreement, as well as the practical problems that arose in the Lehman bankruptcy that are not necessarily addressed.