article thumbnail

The Front Office, Middle Office, and Back Office: How Banks Organize Their Dungeons

Brian DeChesare

Yes, if you’re working at a large bank, it’s generally best to be in a “front office” (client-facing) role. First, note that these terms apply only to investment banks and related finance firms (private equity firms, hedge funds, etc.).

Banking 94
article thumbnail

Sullivan & Cromwell Discusses New IRS Ruling Policy on Spin-Off Transactions

Reynolds Holding

On May 1, 2024, the IRS and the Department of the Treasury issued Rev. The prevalent model in the market in recent years, supported by affirmative IRS rulings, was the “direct issuance” model, under which a third party (typically a bank) would loan cash to Parent. 2024-24 (the “New Rev.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Skadden Discusses the Impact of Banking System Turmoil

Reynolds Holding

The runs on Silicon Valley Bank (SVB) and Signature Bank in March 2023 created a “very high” risk of contagion in the U.S. banking system, according to Treasury Department officials. banks and have kept this issue front of mind. banking landscape in a number of ways. banking industry.

Banking 40
article thumbnail

Sullivan & Cromwell Discusses the Implications for Financial Institutions of Proposed SEC Climate Disclosure Rules

Reynolds Holding

However, in response to demands from investors and other stakeholders, many banks, asset managers and insurance companies have voluntarily made climate disclosures in their sustainability or environmental, social and governance (ESG) reports or other public materials. In the insurance sector, the U.S.

Finance 45
article thumbnail

SEC Issues Strategic Plan for Fiscal Years 2022-2026

Reynolds Holding

For example, debt capital markets account for 80 percent of financing for non-financial corporations in the United States. By contrast, outside the United States, nearly 80 percent of lending to such firms comes from banks. The United States cannot take its remarkable capital markets for granted. Department of the Treasury.

article thumbnail

How to Regulate FinTech, Crypto Assets, DeFi, and Other Financial Innovations

Reynolds Holding

The anonymity of decentralized finance (“DeFi”) can obscure the identity of counterparties, thereby preventing them from resolving disagreements and increasing counterparty risk. It also can shift financing away from regulated banks to unregulated funding sources.

Finance 59