Worldwide: Securitization & Structured Finance

The CFTC has adopted significant amendments to its margin requirements for uncleared swaps, fundamentally changing how seeded funds are treated and expanding eligible collateral options. These changes eliminate longstanding barriers that forced fund sponsors to structure vehicles offshore and restricted the use of money market fund shares as collateral. The Final Rule brings U.S. regulations into closer alignment with international standards while addressing practical challenges faced by market participants

The U.S. and UK have released groundbreaking recommendations for cross-border digital asset cooperation, while major financial institutions successfully execute tokenized asset trades in production environments. Meanwhile, regulatory bodies worldwide advance frameworks for digital currencies and on-chain derivatives markets, signaling a coordinated push toward mainstream adoption of blockchain-based financial infrastructure.

Eva Davis interviews Aaron Benjamin about his work helping financial institutions navigate complexity through innovative financing structures and cross-border lending solutions.

Credit-linked notes (“CLNs”) have become an established feature of the structured finance landscape, offering investors synthetic exposure to the credit risk of a reference entity...

In recent years, we have seen a proliferation of financial products that link to the securities of unicorns. So, you might ask, now what? How will some of these work in practice?

REVERSEinquiries explores critical questions surrounding index-provider readiness for IPO stocks, OCC and exchange mechanics for late IPO opens, and ETF fund-vehicle exposure considerations.

A civil lawsuit filed by investors against banks who lent to and underwrote securitizations for the collapsed subprime auto finance company Tricolor Holdings alleges that these financial institutions ignored...

The Treasury Department has significantly shifted its approach to corporate and partnership tax regulation in 2025, withdrawing several proposed rules that faced criticism for being overly burdensome and complex. This regulatory rollback, driven by executive orders aimed at reducing compliance costs, has left taxpayers and advisors navigating uncertainty about which transaction structures remain permissible and how the IRS will enforce substantive tax rules without mandatory reporting requirements.

Jones Day is pleased to provide you with a brief update on developments in international capital markets in the United States and the European Union ("EU").