Wallance, Morriello and Sussman Conducted PLI Briefing, "Subprime Debt and Credit Default Swap-Related Internal Investigations"

Gregory J. Wallance, Partner in the White Collar Litigation and Internal Investigations Group, Henry G. Morriello, Co-Chair of the Structured Finance Group and Chair of the Financial Markets Recovery Group, and Eric H. Sussman, Head of the Regulatory Enforcement and White Collar Litigation Practice in Chicago, conducted a one-hour PLI audio webcast, “Subprime Debt and Credit Default Swap-Related Internal Investigations” on July 22, 2009 at 1:00 pm (ET). As a result of the current credit crisis, many financial institutions are or will be conducting internal investigations of losses and potential liabilities.

This briefing covered the following topics:

• The Origins of a Financial Market Meltdown and Global Economic Crisis
• An Overview of Credit Default Swaps, Auction Rate Securities and Collateralized Debt Obligations
• Update on the Law Enforcement Response from The SEC, The Department of Justice, and The New York State Attorney General
• Special Considerations in Internal Investigations of Subprime Debt Portfolios and Credit Default Swaps.