Douglas Landy is a partner in the New York office of Milbank, Tweed, Hadley & McCloy and a member of the firm’s Leveraged Finance Group.
Primary Focus & Experience
Mr. Landy is an expert in US financial services regulation and has been at the forefront of the financial services practice during the recent period of intense regulatory change. He is noted for his experience with many aspects of Dodd-Frank, including the Volcker Rule, new capital requirements (Basel 3), and regulatory and supervisory requirements for systemically important financial and non-financial institutions. He represents many of the leading US and international financial institutions in front of the Federal Reserve, OCC, CFTC, NY DFS and other agencies.
News:Inequitable: Investments in Non-Financial Companies Under the Volcker Rule
Among his many high profile representations are:
- A European bank in preparation of its “third wave” US resolution plan
- Up to two dozen foreign banks in submitting eight comment letters to the federal agencies promulgating the Volcker Rule – our letters were cited over 125 times in the preamble accompanying the final Volcker Rule
- Amalgamated Bank in the sale of $100 million of stock to two private equity firms
- A European bank as largest CDS counterparty to AIG FP in its bailout negotiations with the Federal Reserve
- A European bank in creating a $57 billion “bad bank” for troubled assets
- The Dutch Government in its $35 billion bailout of ING’s US troubled banking and insurance businesses
- A group of dealer banks in the creation of the CLS Aggregation FX service
- Multiple European banks in over $100 billion of structures that were pledged to the Federal Reserve discount window
- DTCC in the creation of New York Portfolio Clearing, the first registered derivatives clearing organization following Dodd-Frank
- ICBC in its acquisition of Prime Dealer Services, the first entry by a Chinese bank into the U.S. securities markets
- HBOS in its merger with Lloyds
- HH Sheik Mansour of Abu Dhabi in his 16% investment in Barclays
- Citibank in its merger with Travelers
Recognition & Accomplishments
Mr. Landy is widely quoted on financial services regulatory matters in publications including: American Banker, Bloomberg, Businessweek, CNN Money, Dow Jones, Financial Post, Fortune, Law360, Reuters, New York Times, The National Law Journal, The Times London and The Wall Street Journal.
He has published many articles on regulatory topics including most recently: “Inequitable: Investments in Non-Financial Companies Following the Volcker Rule,” forthcoming in the Banking Law Journal (2014); “Milbank discusses Title VII and the Volcker Rule: Same swap, different rules,” Columbia Law School's Blog on Corporations and Capital Markets, February 2014; “Volcker Rule Conformance Period for Banking Entities,” Harvard Law School Forum on Corporate Governance and Financial Regulation, July 2013; “US Bank Regulatory Agencies Issue Final Guidance on Leveraged Lending Practices: High-Level Considerations for Financial Institutions,” Journal of International Banking and Financial Law, June 2013; “The Most Dangerous Rule for Foreign Banks," American Banker, June 2013; and “Fortress America: The Federal Reserve’s Proposal to Impose U.S. Territorial Restrictions on Large Foreign Banks," The Banking Law Journal, March 2013.
Mr. Landy is a featured speaker at several industry conferences, including most recently, at the IIB annual seminar on risk management and regulatory examination/compliance issues. He also spoke at LSTA's Leveraged Loan Market: Cross Border Considerations in an Ever Changing World conference where he focused on the extraterritorial reach of US regulation.
Mr. Landy has been ranked as a leading lawyer in financial services regulation by Chambers USA since 2007 and is called ‘a well-regarded bank regulatory’ expert. He was called a ‘star’ in The Lawyer Magazine Transatlantic Elite 2010, is named in 'The International Who’s Who of Banking Lawyers 2014' and is considered, “a point of reference for regulatory matters in the New York banking market.”
Mr. Landy received his Juris Doctorate from Boston College Law School in 1993 where he graduated cum laude. He received his Bachelor of Arts from the University of Pennsylvania in 1989.