Yvette D. Valdez

  • Partner
  • Eyvette.valdez@lw.com
  • 885 Third Avenue
  • New York, NY 10022-4834
  • USA
  • T +1.212.906.1797
  •  
 

Profile

Yvette Valdez is a partner in the New York office of Latham & Watkins. Ms. Valdez is head of the US Derivatives Regulatory practice and a member of the firm’s Financial Institutions and Fintech Industry Groups and Financial Regulatory and Derivatives Practices.

Ms. Valdez advises emerging companies, financial institutions, and investment managers on complex regulatory challenges in the development of bespoke financial crypto-asset and cryptocurrency technologies including token sales, market infrastructure, trading, clearing, and settlement solutions on distributed ledger technology. She also advises clients on domestic and cross-border cutting-edge fintech initiatives in the derivatives markets.

Ms. Valdez also has significant experience representing dealers, intermediaries, and end-users in connection with derivatives (swaps and futures) legal and regulatory matters under the Dodd-Frank Act, the Commodity Exchange Act, as well as related CFTC, SEC, and prudential regulation.

Her regulatory practice consists of assisting foreign and domestic investment banks, futures commission merchants, introducing brokers, broker-dealers, and commodity pool operators and commodity trading advisors with their derivatives regulatory compliance requirements as well as advising buy-side clients in connection with their margining, clearing, and trade execution requirements. Ms. Valdez also counsels clients in market infrastructure, trading, clearing, and settlement in the derivatives markets, including FBOTs, swap execution facilities, and designated contract markets.

Ms. Valdez has extensive experience representing financial institutions in bespoke derivatives transactions, including interest rate and credit derivatives, foreign exchange transactions, total return swaps, commodity transactions, futures, and options.

Ms. Valdez was named to Innovate Finance's 2018 Women in FinTech Powerlist in the Professional & Financial Services category in recognition of her leadership in the industry.

Speaking Engagements
  • CREEL, Fintech in Mexico, Cryptocurrency Regulation Panel, October 2018 (Mexico City)
  • JPMorgan Private Bank, Cryptocurrency and ICO Event, April 2018
  • Blockmatics Event, Blockchain & Law, March 2018
  • Blockmatics Event, Blockchain & Law: Self-governance in an unregulated world, January 2018
  • Cardozo Tech Talk: Structuring Legally Compliant Token Sales, November 2017
  • Financial Revolutionist Conference, ICO Panel, November 2017
  • 2017 Blockchain Technology and Digital Currency National Institute, hosted by American Bar Association, April 2017
  • The Evolving Landscape for Cryptocurrencies and Distributed Ledger Technology, Empire Startups Fintech Conference, April 2017
  • Cryptocurrencies and Blockchain Technology - Truth or Dare, Futures Industry Association Law & Compliance, May 2016

Experience

Ms. Valdez’s experience includes representing:

  • SunTrust Bank, Deutsche Bank, Credit Suisse, Credit Agricole CIB, BNP Paribas, Citibank N.A., and SMBC in connection with fixed-income, foreign exchange, commodity, and total return swap derivatives transactions* 
  • Major investment banks, in connection with the creation of derivative platforms for fixed income derivatives and general representation in relation to such derivative platforms*
  • Private equity firms and funds in connection with fixed income and credit derivatives transactions* 
  • Various energy and gas companies in connection with hedging documentation in commodity transactions including emission allowances, power, and fuel*
  • Foreign financial institutions in connection with clearing and trade execution on-boarding* 
  • Financial institutions in connection with hedging and credit enhancement transactions and risk management structures involving derivatives, including total return swaps, credit default swaps, and forward delivery agreements*
  • Foreign financial institutions in Latin America, in connection with the execution of derivatives transactions with various dealers in respect of the bank's various foreign exchange transactions and currency options and swaps with other dealers* 
  • Commercial and investment banks in connection with termination and settlement as well as collateral obligations of various derivatives transactions in respect of the Lehman Brothers bankruptcy* 
  • Investment managers in connection with commodity pool operator and commodity trading advisor regulatory and compliance obligations*

Thought Leadership

  • Co-author, “Effective October 31, 2018: New NFA Virtual Currency Disclosure Requirements,” Client Alert, October 2018
  • Co-author, “The Yellow Brick Road for Consumer Tokens: The path to SEC and CFTC compliance,” Global Legal Insights, May 2018
  • Co-author, “Global Developments on Best Execution,” Client Alert, May 2018
  • Co-author, “Are Your Employees Trading Bitcoin? Addressing Cryptocurrencies in Compliance Policies,” Bloomberg Law, April 2018
  • Co-author, “Private Equity Fund Managers: Annual Compliance Reminders and New Developments,” Client Alert, March 2018
  • Co-author, “CFTC Proposes Interpretation of “Actual Delivery” for Virtual Currencies,” Client Alert, January 2018
  • Co-author, “CFTC Publishes Long-Awaited Comparability Determination for EU Margin Rules,” Client Alert, November 2017
  • Co-author, “What Do the SEC’s Recent Bitcoin Disapproval Orders Really Mean for Investors?” Client Alert, April 2017
  • Co-author, “Marketing Non-US Private Equity Funds in the United States,” Client Alert, November 2016
  • Co-author, Practical Law, Reference Guide to Practice Note, The Dodd-Frank Act: Margin Posting and Collection Rules for Uncleared Swaps, September 2016
  • Co-author, “Evolution of the CFTC’s Whistleblower Program,” New York University Compliance and Enforcement, September 2016 
  • Co-author, “Dodd-Frank Almost 6 Years Later: Where Are We Now? Energy-Related Derivatives Regulation,” Bloomberg BNA: Securities Regulation and Law Report, March 2016 
  • Co-author, “Final exemptive order regarding cross-border application of swap regulations,” Lexology, August 22, 2013* 
  • Co-author, “CFTC approves final interpretive guidance with respect to the cross-border application of certain swap provision of the Commodity Exchange Act,” Lexology, August 21, 2013*
  • Co-author, “ISDA August 2012 Dodd-Frank Protocol,” Lexology, October 26, 2012*
  • 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 and Eligible Contract Participants,” Derivatives Week: The Learning Curve, Volume XXI, Number 20, May 21, 2012*
  • Co-author, “Lehman Bankruptcy Court Denies Contractual Right to Triangular Setoff,” The Journal on the Law of Investment & Risk Management Products: Futures & Derivatives Law, Volume 32, Issue 2, February 2012*
  • Co-author, “International Swaps & Derivatives Association, Inc.,” ISDA Collateral Committee, Market Review of OTC Bilateral Collateralization Practices, March 2010*

*Completed prior to joining Latham & Watkins

Thought Leadership

  • Regulators Gear Up for LIBOR Transition Testing -  July 31, 2020
  • From Safe Deposit Boxes to Cold Wallets, Bank Custody Evolves -  July 30, 2020
  • What the CFTC Interpretation of “Actual Delivery” Means for Crypto -  July 27, 2020
  • SEC Puts LIBOR Transition Testing in Focus -  June 30, 2020
  • Webcast: Tokenization and Distributed Business Models ― Recent Case Studies and Legal Insights -  June 02, 2020
  • 10 LIBOR Transition Focus Areas -  May 01, 2020
  • FSB Launches Consultation on Global Stablecoins  -  April 29, 2020
  • COVID-19 Update: CFTC Relief for the Derivatives Market -  March 27, 2020
  • COVID-19 and the Derivatives Markets: What NFA Members Need to Know -  March 17, 2020
  • A CFTC Helping Hand: DSIO Offers to Review Digital Asset Products -  March 04, 2020
  • Podcast: Breaking Down Crypto Derivatives -  February 24, 2020
  • Mexico Issues First License Under New FinTech Law -  February 24, 2020
  • CFTC Issues No-Action Relief for Derivatives Market IBOR Transition -  January 24, 2020
  • Financial Firms Beware: Dangers Lurk in the Cloud -  November 26, 2019
  • The CFTC Takes New Steps to Promote Innovation and ‘Explore the Unwritten Future’ -  November 26, 2019
  • Podcast: Macro and Regulatory Developments Impacting Stablecoins  -  November 22, 2019
  • The Yellow Brick Road for Consumer Tokens: The Path to SEC and CFTC Compliance (an Update) -  November 21, 2019
  • The Yellow Brick Road for Consumer Tokens: The Path to SEC and CFTC Compliance - An Update -  November 12, 2019
  • Lexology Getting The Deal Through's Equity Derivatives 2019 -  September 30, 2019
  • US FinTech: Regulating the Future -  September 10, 2019
  • LIBOR Discontinuation and Transition — What Investment Managers Should Know -  August 20, 2019
  • Cryptoasset Trading Platforms: A Regulatory Trip Around the World -  August 19, 2019
  • Crypto-Asset Trading Platforms: A Regulatory Trip around the World -  August 13, 2019
  • US-EU Margin Rules Reference Guide -  July 08, 2019
  • EMIR REFIT: Bringing the EU and the US Closer Together? -  June 28, 2019
  • Token Presale Agreements and the ConsenSys Automated Convertible Note -  May 22, 2019
  • Resources for FinTech Companies in Latin America -  April 15, 2019
  • Are You My Regulator? ABA Surveys US Crypto Regulatory Overlap  -  April 05, 2019
  • NFA to Require Swap Proficiency Examination for Swap Associated Persons -  March 27, 2019
  • CFTC Seeks to Amend Commodity Pool Regulations -  February 01, 2019
  • A Path for Consumer Tokens - the SEC and CFTC Analysis -  November 29, 2018
  • Effective October 31, 2018: New NFA Virtual Currency Disclosure Requirements -  October 16, 2018
  • The Yellow Brick Road for Consumer Tokens: The Path to SEC and CFTC Compliance -  September 18, 2018
  • Global Developments on Best Execution -  May 03, 2018
  • Are Your Employees Trading Bitcoin? Addressing Cryptocurrencies in Compliance Policies -  April 13, 2018
  • Fund Managers: Annual Compliance Reminders and New Developments -  March 26, 2018
  • Derivatives Market – 2017 Year in Review: A Summary -  January 25, 2018
  • CFTC Proposes Interpretation of “Actual Delivery” for Virtual Currencies -  January 19, 2018
  • CFTC Publishes Long-Awaited Comparability Determination for EU Margin Rules  -  November 01, 2017
  • What Do the SEC’s Recent Bitcoin Disapproval Orders Really Mean for Investors? -  August 01, 2017
  • What Do the SEC's Recent Bitcoin Disapproval Orders Really Mean for Investors? -  May 03, 2017
  • What Do the SEC’s Recent Bitcoin Disapproval Orders Really Mean for Investors? -  April 12, 2017
  • 2016 Derivatives Market Year in Review -  December 14, 2016
  • Marketing Non-US Private Equity Funds in the United States -  November 16, 2016
  • CFTC Proposes New Enforcement Authority and Other Amendments in Its Whistleblower Program -  September 08, 2016
  • Cryptocurrency: A Primer -  August 24, 2016
  • CFTC Brings Significant Enforcement Action Against Online Cryptocurrency Exchange -  June 20, 2016
  • FIA L&C Division Webinar: The Other Side of the Coin: Bitcoin, Blockchain, Regulation and Enforcement -  March 24, 2016
  • Cryptocurrency: A Primer -  March 09, 2016
  • Dodd-Frank Almost 6 Years Later: Where Are We Now? Energy-Related Derivatives Regulation  -  March 02, 2016
  • CFTC Extends Trade Option Reporting Deadline to April 1, 2016 -  February 23, 2016
  • CFTC Uncleared Swap Margin Rules to Take Effect in September  -  February 19, 2016
  • SEC Proposes Rules on the Use of Derivatives by Funds  -  February 03, 2016
  • Enforcement Trends in Cryptocurrency -  December 28, 2015
  • Enforcement Trends in Cryptocurrency -  December 09, 2015
  • Derivatives Regulation Five Years After Dodd-Frank -  December 02, 2015
  • Dodd-Frank 5 Years Later: Where Are We Now? Derivatives Regulation for Asset Managers -  November 30, 2015
  • Prudential Regulators Are First to Finalize Uncleared Swap Margin Rules  -  November 20, 2015
  • Regulating Bitcoin and Other Cryptocurrencies  -  October 01, 2015
  • Cryptocurrencies Are Commodities: CFTC’s First Bitcoin Enforcement Action  -  September 20, 2015
  • CFTC Proposes Cross-Border Application of Margin Requirements for Uncleared Swaps  -  August 13, 2015
  • UPDATED: CFTC Clarifies Regulation of Forward Contracts with Embedded Volumetric Optionality  -  June 22, 2015
  • Regulatory Notes on Bitcoin and Other Cryptocurrency Derivatives -  June 01, 2015
  • SEC Proposes Additional Cross-Border Rules for Security-Based Swaps -  May 27, 2015
  • Regulation SBSR: The Compliance Guide to Reporting Security-based Swaps -  March 24, 2015
  • UPDATE: Swap Dealers Will Face Significant Challenges from Reproposed Margin Rules for Uncleared Swaps -  January 26, 2015
  • CFTC Proposes to Clarify Regulation of Forward Contracts with Embedded Volumetric Optionality -  January 13, 2015
  • Swap Dealers Will Face Significant Challenges from Reproposed Margin Rules for Uncleared Swaps -  January 08, 2015
  • The New 2014 ISDA Credit Derivatives Definitions -  September 08, 2014
  • SEC Finalizes Partial Framework for the Cross-Border Application of its Derivatives Regulations -  July 31, 2014
  • SEC Proposed Rules: Recordkeeping and Reporting for SBSDs, MSBSPs and BDs; Capital Rules for Certain SBSDs  -  June 05, 2014

Presentations

  • Derivatives Market – 2015 Year in Review: A Summary -  December 09, 2015
  • Derivatives Market – 2015 Year in Review: Webcast -  December 09, 2015

“Proactive, responsive and knowledgeable, with a particular market expertise in the fintech sector.”

Chambers USA 2020


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Bar Qualification
  • New York
Education
  • J.D., Columbia University School of Law, 2005
    Harlan Fiske Stone Scholar
  • BA, Emory University, 2000
    magna cum laude
Industries
  • Financial Institutions
  • Energy & Infrastructure
Languages
  • English
  • Spanish
Practices
  • Capital Markets
  • Financial Regulatory
  • Derivatives