December 2024
Welcome to the monthly digest from SEDA Experts — your premier source for elite expert witnesses specializing in financial services. Below, you’ll find a message from leadership, exclusive insights from our firm leaders, the latest news on our experts, and introductions to the newest additions to our ever growing roster of accomplished practitioners.
Reflecting on 2024: Gratitude, Growth, and a Look Ahead
As 2024 comes to a close, we would like to thank each of you for your continued support. Whether we’ve had an opportunity to work together or not, your engagement has helped us refine our focus and continue to evolve so that we are positioned to meet the ever-changing demands of the legal landscape.
We are grateful to our clients who trusted us and our expertise this past year. We are also immensely grateful to our experts and staff, who make SEDA Experts possible. They have trusted us to bring their expertise to bear in relevant, impactful cases, and we were up for the challenge. As a result, we were able to handle high-stakes matters across a growing range of areas. As we expand our reach, we have also invested in the depth of our offering by introducing new in-house tools that support matters involving large data sets and continuing to invest in solutions that allow us to deliver high-quality services cost-effectively.
SEDA Experts saw tremendous growth in 2024. In response to client demand, we added several new practices, including Algorithmic and Electronic Trading, Corporate Finance and ESG, Energy and Commodities, and Payment Systems. Behind the scenes, we’re working hard to identify and retain top experts who have served in leadership roles in industry positions or with regulators. In addition to building new practices, we’ve strengthened our blend of experts in areas as diverse as Cryptocurrencies, Capital Markets, and Trade Finance.
Sitting across the industry, we have a unique vantage and are able to witness trends in real-time. In 2024, we observed an increase in disputes involving Anti-Money Laundering (AML) and related Bank Compliance Best Practices, as well as Trade Secrets (in connection with individuals departing financial institutions for new opportunities). We also saw a growing interest in Leveraged Finance transactions. Given the continued controversies related to product innovations, we continue to see a large number of disputes involving Special Purpose Acquisition Companies (SPACs) and related capital-raising events, as well as disputes involving crypto assets. Potential breaches of fiduciary duties by investment advisors also remained a popular theme. Lastly, we saw many disputes across the entire range of energy products.
Looking ahead, with strong financial markets, we anticipate many of these themes will continue into 2025. We are well-positioned to support our clients and will continue to focus on expanding our offering to meet new demands that will no doubt emerge. To that end, we are actively tracking the changes in the regulatory and enforcement space that are likely to follow the change in administration in January 2025. We are looking forward to a busy and rewarding year ahead.
We hope you enjoy this holiday season and wish you all a happy new year!
From the Managing Partners,
Damiano Colnago, Peter Selman and Sergio C. Godinho
INSIGHTS
Addressing AML Deficiencies and Oversight in Banks
Kenneth Simmons of SEDA explores the essential elements of an effective AML program and the potential liabilities banks face when they fall short due to AML deficiencies. He discusses the importance of oversight and monitoring and identifies conflicts that arise when high-revenue generating clients also have a high-risk profile.
EXPERTS IN THE NEWS
Avinash Persaud was a leading voice at the 29th Conference of the Parties to the UN Framework Convention on Climate Change (COP29). Alongside Vera Songwe, Chair and Founder of Liquid Sustainability Facility, he discussed innovative financial instruments that help developing nations reduce emissions with Bloomberg’s John Ainger.
Craig Coben, a regular contributor to the Financial Times, examines MicroStrategy’s comeback and transformation into a bitcoin-based investment vehicle, its use of ATM offerings, and the role of volatility in generating demand.
Jason Cave draws on his experience as an examiner and senior policymaker at the FDIC to identify the elements of effective third-party risk management frameworks as banks and credit unions seek to respond to regulatory focus on third-party risk.
Edward Baker was a panelist at QuantMinds, where he discussed how institutions integrate ESG directives into their quantitative finance investment strategies. He also addressed how the impending change of administrations in the U.S. is likely to impact ESG directives and the corresponding impact on ESG litigation trends.
T.S. Shankar moderated a discussion entitled “Unlocking the Potential of Supply Chain Finance: Accelerating Growth and Enhancing Liquidity” for BAFT in Mumbai hosted by ICICI Bank.
NEW HIRES
SEDA continues to expand with the addition of its Algorithmic and Electronic Trading practice group. We are excited to introduce:
Todd Hohman has over 25 years of experience in financial markets, with a particular focus on algorithmic and systematic trading and execution of exchange traded products including cash equities, options, futures and ETFs. His areas of expertise cover high frequency trading, internalization and dark pools, central risk books, portfolio and operational risk management and related controls.
Dr. Alejandro Duarte is a seasoned professional with a wealth of hands-on expertise in trading, hedging, risk management, and quantitative modelling across diverse asset classes. His career spans the design and development of sophisticated analytics and tools, culminating in his recent focus on algorithmic electronic trading systems.
Jeff Zorek is a capital markets expert with a distinguished career incorporating leadership roles in electronic trading and prime services across the globe. Jeff’s experience includes some of the most important recent nascent themes in finance including the integration of client execution with portfolio leverage and the white labeling of Execution, Financing and Custody services to third party financial providers.
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