Consilience has created a Joint Venture with Steve Lofchie of Cadwalader, Wickersham & Taft LLP to build automated rule adapters for a number of financial regulations including Wash Trades, Regulation SHO, and Spoofing.
This partnership allows Consilience to be the first of its kind to codify legal interpretations and provide clients with a real-time view of compliance.
Steve Lofchie is a highly regarded as a subject matter expert on regulatory issues and financial instruments. His practice areas include: Bank Regulation, Broker-Dealer Regulation, Commodities & Futures Regulation, Derivatives & Structured Products, Financial Regulation, Investment Management Litigation, Regulation & Compliance, OTC Derivatives, Structured Products, and Swap Regulation.
Chambers USA, an organization that ranks the most outstanding law practices, ranked Mr. Lofchie in its first band, for seven years running. He is the only lawyer to be top-ranked in both financial services regulation and derivatives. The 2017 edition of The Best Lawyers in America recognized Mr. Lofchie as Lawyer of the Year for Regulatory Law in New York. He is also the Founder and Manager of Cadwalader Cabinet, a famous legal website endorsed by former Chairpersons of both the SEC and CFTC.
In a first for the industry, Consilience will work with Mr. Lofchie to provide clients with automated rule adopters and opinion letters for a number of regulations. Currently, Mr. Lofchie reviews the logic that goes into a PRISM rule adapter, and Consilience codifies and automates that information. Then, Mr. Lofchie provides Consilience clients with an opinion letter that the logic embedded in PRISM is consistent with the requirements of the relevant rule.