On Monday, Federal Reserve System Chairman Ben Bernanke and Securities and Exchange Commission Chairman Christopher Cox announced the signing of a “memorandum of understanding” to increase the flow of information between the two agencies, which should help them better fulfill their regulatory responsibilities.
The Am Law Daily caught up with Cleary Gottlieb Steen & Hamilton capital markets partner David Becker to discuss how the agreement will affect banking lawyers and their corporate clients — be they large financial institutions or investment banks utilizing the Fed’s overnight discount loan window.
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