Blog: Business As Usual? – Financial Services – United States – Mondaq

United States:

Business As Usual?

16 November 2022

Cadwalader, Wickersham & Taft LLP

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In This Issue …

So with all the speculation about a “red wave” and
all of the millions and millions of advertising dollars spent on
the U.S. midterm elections, we appear to have ended up right where
we started: in pretty much a deadlock in the U.S. Senate and the
House of Representatives, albeit with some gavels possibly
switching hands. 

And that, of course, suggests that all the predictions −
including mine − on what a big victory by the Republicans or
a hold-the-ground performance by the Democrats would mean for bank
regulatory and other financial services issues have led us back to
the day-to-day business of financial regulation, including
crypto-assets, ESG, consumer protection and all the usual favorites
on the hit parade.

Perfect case in point: the precarious position of Bahamian-based
crypto exchange FTX. This is a major story, and we take a closer
look at what happened to FTX, the scuttled acquisition discussions
with Binance, insolvency issues and the broader implications around
oversight. Be sure to read our in-depth analysis.

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

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