Ian Cuillerier
Biography
Overview
Partner in White & Case's Global Derivatives Interest Group, as well as the Firm's practice in Canada, Ian offers clients the benefit of his extensive knowledge and hands-on experience.
Investment and commercial banks, private equity and hedge funds look to Ian for his substantial reputation and track record in derivative transactions and structured investments.
Ian is also a noted authority on regulatory matters, and helps clients to navigate the complex legal issues that arise from regulatory change, including challenges presented by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
He is a prolific writer and speaker on global derivatives and regulatory affairs, sharing his experience and knowledge in industry journals as well as at major legal, financial and regulatory events.
Experience
Structured finance transactions and restructurings
Ian has acted as counsel to clients in numerous, complex and large-scale structured finance transactions and their restructurings. He has advised parties on their rights under derivative transactions following restructuring and the bankruptcies of counterparties.
Hedging and credit enhancements
Ian has represented parties in hedging and credit enhancement transactions and risk management structures that involve derivatives. His work in this area has included total return swaps, credit default swaps and forward delivery agreements.
Hedging in commodity transactions
Ian has advised clients on hedging documentation in commodity transactions, including emission allowances, power and fuel.
Alternative risk transfer techniques
Acting as counsel to sponsors involved in synthetic securitizations, catastrophe bonds, credit default swaps and other risk management strategies, Ian has delivered valuable insight and guidance on alternative risk transfer techniques.
Fixed income swaps
Ian has advised swap providers and hedge funds in total return swap and credit default swap transactions in the fixed income market.
Plant and asset finance
Counsel to sponsors, borrowers, equity investors and lenders in the development and financing of manufacturing facilities, energy power project and related assets.
Derivatives training, September 2023, comprehensive lectures in the Republic of Georgia
International Panel, February 3, 2023, ABA Business Law Section Derivatives & Futures Law Committee Winter Meeting, Panel Chair
ESG Panel, July 2023, ABA Business Law Section Derivatives & Futures Law Committee Mid-Year Meeting, Panel Chair
ESG Panel, May 12, 2022: ISDA Annual General Conference, Panelist
"Regulatory VM Requirements for Swaps and Security-Based Swaps", February 23, 2022, ISDA Virtual Conference: Understanding Variation Margin (VM) Regulations and the 2016 ISDA Variation Margin Credit Support Documents, Panelist
ESG Panel, January 26, 2022: ABA Business Law Section Derivatives & Futures Law Committee Winter Meeting, Panelist
"Carbon Trading", September 27, 2021, P.R.I.M.E. Finance, Panelist
"Washington Hot Topics", July 21, 2021, Virtual Derivatives and Futures Law Committee Virtual Mid-Year Program, Moderator
Conference Co-Chair, ABA Business Law Section Derivatives & Futures Law Committee Winter Meeting, Naples Florida, January 28-29, 2021
Conference Co-Chair, ABA Business Law Section Derivatives & Futures Law Committee Winter Meeting, Naples Florida, January 23-25, 2020
"Understanding the 2016 ISDA Credit Support Annex for Variation Margin (VM) (Security Interest – New York Law),” September 19, 2019: Training Course: Understanding Variation Margin (VM) Regulations and the 2016 ISDA Credit Support Annex for VM (Security Interest – New York Law), Speaker
"Negotiating the Schedule to the 2002 ISDA Master Agreement," September 18, 2019: Understanding the ISDA Master Agreements – Including an Overview of the Regulatory Changes to ISDA Documentation, Speaker
"Section I: Introduction to ISDA Documentation – 2002 ISDA Master Agreement," May 15, 2019: Training Course: Fundamentals and Implementation of ISDA Documentation, Speaker
"Exigibility of ISDA Contracts – International Best Practices," May 14, 2019: Initiative for the Development of Financial Markets and Derivatives – Roundtable with Costa Rica Regulators, Speaker
"Understanding the 2016 ISDA Credit Support Annex for Variation Margin (VM) (Security Interest – New York Law)," January 31, 2019: Understanding Variation Margin (VM) Regulations and the 2016 ISDA Credit Support Annex For VM (Security Interest – New York Law), Speaker
"Negotiating the Schedule to the 2002 ISDA Master Agreement," January 30, 2019: Understanding the ISDA Master Agreements – Including an Overview of the Regulatory Changes to ISDA Documentation, Speaker
Day Chair, ABA Business Law Section Derivatives & Futures Law Committee Winter Meeting, Naples Florida, January 24-26, 2019
Introduction to ISDA Documentation” and "Practical Issues for Argentine Entities to Consider When Negotiating Cross-Broder ISDA Agreements," December 5, 2018: Argentina’s Return to the Derivatives Market, Buenos Aires, Speaker
"Negotiating the Schedule to the 2002 ISDA Master Agreement," September 26, 2018: Understanding the ISA Master Agreements – Including an Overview of the Regulatory Changes to ISDA Documentation, International Swaps and Derivatives Association, New York, Speaker
"Understanding the 2016 ISDA Credit Support Annex For Variation Margin (VM) (Security Interest – New York Law)," September 27, 2018: Understanding Variation Margin (VM) Regulations and the 2016 ISDA Credit Support Annex for VM (Security Interest – New York Law), International Swaps and Derivatives Association, New York, Speaker
"ISDA Master Agreement and Credit Support Annex: Negotiation Strategies," April 10, 2018: Negotiating the Schedule to the 2002 ISDA Master Agreement, International Swaps and Derivatives Association, New York, Speaker
"Understanding the ISDA Master Agreements," January 31, 2018: Negotiating the Schedule to the 2002 ISDA Master Agreement, International Swaps and Derivatives Association, New York, Speaker
International Developments Panel, January 19, 2018: ABA Business Law Section Derivatives & Futures Law Committee Winter Meeting, Naples, Florida, Panel Chair
"Understanding the 2016 ISDA Credit Support Annex For Variation Margin (VM) (Security Interest – New York Law)", November 2, 2017: Understanding Variation Margin Regulations and the 2016 ISDA Credit Support Annex For Variation Margin (VM) (Security Interest - New York Law), International Swaps and Derivatives Association, New York, Speaker
"Negotiating the Schedule to the 2002 ISDA Master Agreement", November 1, 2017: Understanding the ISDA Master Agreements, International Swaps and Derivatives Association, New York, Speaker
"Master Agreements for the Negotiation of Derivatives", October 25, 2017: International Swaps and Derivatives Association, BTH Hotel, Lima, Peru, Speaker
International Developments Panel, January 20, 2017: ABA Business Law Section Derivatives & Futures Law Committee Winter Meeting, Naples, Florida, Panel Chair
"Principal Issues for Consideration and Negotiation in Derivatives Documentation – Cleared and Uncleared", October 24, 2016: Fundamentals of Swaps & Other Derivatives 2016, Practicing Law Institute, New York, Speaker
"Commodity Exchange Act Basics for Lawyers," April 27, 2016: The Commodity Futures Trading Commission (CFTC) & Its Jurisdiction, City Bar Center for Continuing Legal Education, New York, Speaker
"It's a Bifurcated World: Defaults, Remedies and Collateral Basics Under ISDA Documentation and US Clearing Regimes", March 1, 2016: Managing Counterparty Risk in 2016 and the Future: Current Issues for Risk Managers and Legal Practitioners, International Swaps and Derivatives Association, New York, Speaker
"Negotiating the Schedule to the 2002 ISDA Master Agreement", ISDA Master Agreement and Credit Support Annex: Negotiation Strategies, November19, 2015: International Swaps and Derivatives Association, New York, Panelist
"Seminar: Operational and Legal Risk Management Aspects for the Public Sector", November 10, 2015: El Banco Centroamericano de Integración Económica, International Swaps and Derivatives Association and Citi, Puerto Rico, Speaker
"Negotiating the Schedule to the 2002 ISDA Master Agreement: Understanding the ISDA Master Agreements Conference", November 3, 2015: International Swaps and Derivatives Association, New York, Panelist
"Principal Issues for Consideration and Negotiation in Derivatives Documentation-Cleared and Uncleared", Advanced Swaps & Other Derivatives 2015, October 20, 2015, Practicing Law Institute, Webcast, New York, Moderator
"Regulatory Update – Dodd Frank – EMIR & Cross Border Transactions", September 16, 2015: 7th Annual Capital Link Global Commodities, Energy & Shipping Forum, New York, Speaker
"Understanding the ISDA Master Agreements Conference, Including an Overview of the Regulatory Changes to ISDA Documentation: Negotiating the Schedule to the 2002 ISDA Master Agreement", June 3, 2015: International Swaps and Derivatives Association, New York, Panelist
"Current Topics for End-Users of Swaps", March 19, 2015: New York City Bar Association, City Bar Center, New York, Panelist
"ISDA Master Agreement and Credit Support Annex: Negotiation Strategies", March 27, 2015: International Swaps and Derivatives Association, New York, Panelist
"Documentation for Uncleared Transactions ― The ISDA Master Agreement", "Documentation for Uncleared Transactions ― The 1994 ISDA Credit Support Annex (Security Interest – New York Law)", and "Uncleared Transactions ― Swap Documentation Post Dodd-Frank", April 30, 2014: International Swaps and Derivatives Association, New York, Panelist
"Derivatives and Futures Law Committee Winter Meeting", February 8, 2014: American Bar Association, Naples, Florida, Panelist
"Understanding the 1994 ISDA Credit Support Amex (Security Interest ― New York Law) and Updates in Collateral Issues Conference" and "Understanding the 1994 ISDA Credit Support Annex (Security Interest ― New York Law)", January 30, 2014: International Swaps and Derivatives Association, New York, Panelist
"A Canadian Perspective on Dodd-Frank Title VII (OTC Derivatives): Key aspects affecting your business and how to prioritize your obligations" and "Deconstructing your Dodd-Frank Implementation Challenges: An Industry Case Study", January 29, 2014: The Canadian Institute's 9th Derivatives Reform, Toronto, Canada, Panelist
"SEFs, CCPs, and SDRs: An Examination and Review for the Buyside", November 21, 2013: International Swaps and Derivatives Association, New York, Panelist
"Dodd-Frank & Derivative Status Update: Cross Border ― What is the status of the cross border Regulation of derivatives and how are the CFTC & SEC harmonizing their approach with other jurisdictions", November 8, 2013: New York City Bar, New York, Speaker
"Understanding the 1994 ISDA Credit Support Annex (Security Interest – New York Law) and Updates in Collateral Issues Conference,” "Understanding the 1994 ISDA Credit Support Annex", September 24, 2013: International Swaps and Derivatives Association, New York, Panelist
"Understanding the ISDA Master Agreements Conference: The 2002 ISDA Master Agreement", September 23, 2013: International Swaps and Derivatives Association, New York, Panelist
Co-author, "The Morrison Framework and the Evolution of its Application in Securities and Commodity Act Claims", Thomson Reuters: Futures & Derivatives Law Report, Volume 43, Issue 5, May 2023
Co-author, "Legal Issues in Carbon Credit Markets and Trading", Futures & Derivatives Law Report, Volume 42, Issue 2, February 2022
Book Review of "The Virtual Currency Regulation Review", Futures & Derivatives Law Report, Volume 39, Issue 2, February 2019, (author)
Author, "Foreign Consolidated Subsidiaries and Swap Deal De Minimis Determinations by Non-US Persons", Futures & Derivatives Law Report, Volume 38, Issue 5, May 2018
Co-author, "US Bankruptcy Court Enforces CDO Transaction Flip Clauses", Futures & Derivatives Law Report, Volume 36, Issue 10, November 2016
Quoted, "Proposed CFTC rule change on intermediary registration exemptions may benefit Asian institutions", Thomson Reuters Regulatory Intelligence, August 2016
Co-author, "The CFTC's Proposed Rules on Crossborder Uncleared Swap Margin Requirements", Thomson Reuters: Futures & Derivatives Law Report, Volume 35, Issue 9, October 2015
Co-author, "Regulatory Reforms Under Title VII Of Dodd Frank – The Need To Weigh The Impact On Liquidity," Thomson Reuters: Futures & Derivatives Law Report, Volume 35, Issue 6, July 2015
Co-author, "The SEC Has Spoken – Offering Proposed Roles on Cross Border Security –Based Swap Activities." Futures & Derivatives Law Report, Volume 33, Issue 7, July/August 2013
Co-author, "CFTC and SEC Publish Rules Defining Entities That Will Be Classified as Dealers, Major Participants in Derivatives Market," Bloomberg BNA: Securities Regulation & Law Report, Volume 44, Number 24, June 11, 2012
Co-author, "Swap Dealers, Major Swap Participants & Eligible Contract Participant," Derivatives Week, Volume XXI, Number 20, May 21, 2012
Co-author, "Lehman Bankruptcy Court Denies Contractual Right to Triangular Setoff," Futures & Derivatives Law Report, Volume 32, Issue 2, February 2012
Co-author, "CSX Corp. v. Children's Investment Fund Management (UK) LLP: Disclosure Requirements in the Context of Total Return Swaps," Futures & Derivatives Law Report, Volume 31, Issue 11, December 2011
Author, "Chartering through unnavigated waters - US considers regulating credit default swaps," complinet.com, December 2008
Author, "Amaranth Advisors and the FERC's regulatory authority," Journal of Derivatives & Hedge Funds, Volume 14, Number Two, August 2008
Author, "US Legal and Regulatory Developments: Prohibition on Energy Market Manipulation," Derivatives Use, Trading & Regulation, Volume 12, Numbers One/Two, May/August 2006
Author, "US Legal and Regulatory Developments: Validity of Commodity Futures Trading Commission's Policy Statement concerning swap transactions reaffirmed; CFTC Reauthorization Act of 2005," Derivatives Use, Trading & Regulation, Volume 11, Number Four, February 2006
Author, "US Legal and Regulatory Developments: Registration under the Investment Advisors Act 1940 of Certain Hedge Fund Advisors," Derivatives Use, Trading & Regulations, Volume 11, Number Three, December 2005
Author, "US Legal and Regulatory Developments: Financial Contract Provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005," Derivatives Use, Trading & Regulation, Volume 11, Number Two, September 2005
Chair of the New York City Bar Futures and Derivatives Committee
Appointed to the Panel of Recognized International Market Experts in Finance of P.R.I.M.E. Finance
Leading Lawyer, Chambers Global and USA 2023, Capital Markets: Securities - Derivatives
Leading Lawyer, Legal 500 2023, Structured Finance: Derivatives and Structured Products
Who's Who Legal, 2023 Capital Markets: Structured Finance
