CMLJ Express |
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The public responsibility of structured finance lawyers (see p. 6)
| Steven L. Schwarcz Structured finance lawyers increasingly are being scrutinizedwhen companies fail, but there is confusion as to the standardsby which they should be judged. Society benefits where such lawyers are permitted to help facilitatematters in which neither the lawyer's actions nor the underlyingtransaction is, at the time, illegal as a matter of positivelaw. In these matters, the company's managers, not its structuredfinance counsel, should be responsible for ensuring that thecompany's investors are benefited, not harmed. This article focuses on the public responsibility of lawyerswho represent originators of structured finance transactions.It looks critically at the traditional view of such responsibilityand considers what it should be.
Self-referenced credit derivatives are they enforceable under English law? (see p. 21)
| Simon Firth Credit derivatives
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