Ashley Weeks is an associate in the New York office of Latham & Watkins and a member of the firm's Financial Institutions and Fintech Industry Groups and Commodities and Derivatives Regulation and Enforcement, Derivatives, and Financial Regulatory Practices.
Ms. Weeks advises clients on regulatory, compliance, and transactional issues relating to commodities and derivatives products.
Ms. Weeks has experience representing investment banks, corporations, and asset managers in structured investments and derivatives transactions, including interest rate derivatives, foreign exchange (FX) transactions, equity derivatives, and commodity transactions. She also has experience representing clients in structuring finance-linked hedging structures in the project finance industry.
Ms. Weeks maintains a regulatory practice consisting of assisting financial institutions, corporate end-users, intermediaries, trading venues, and other derivatives, commodities, and crypto market participants with US Commodity Futures Trading Commission (CFTC) and US Securities and Exchange Commission (SEC) regulatory compliance matters under the Dodd-Frank Act.
Ms. Weeks currently serves as both a global co-leader and the local New York office leader of Latham’s First Generation Professionals (FGP) lawyers’ affinity group, and has been selected by the International Swaps and Derivatives Association, Inc. (ISDA) as a member of the inaugural cohort of derivatives professionals to participate in the ISDA Future Leaders in Derivatives (IFLD) program.
Ms. Weeks routinely advises buy- and sell-side market participants in connection with over-the-counter (OTC) and exchange-traded derivatives and commodities transactions, including representing:
- Publicly listed Fortune 100 company in respect of the inter-affiliate novation of FX, interest rate, and commodity hedging transactions with 20+ dealer counterparties, including related ISDA documentation and upstream guarantees, in connection with a post-merger corporate restructuring
- Various CFTC-regulated swap dealers in connection with FX, interest rate, commodity, and equity derivatives transactions
- Buy-side market participants in respect of commercial and regulatory onboarding documentation in connection with various US and non-US trading platforms
- Energy companies, joint ventures, and financial institutions in connection with their environmental credit trading programs
- Real estate investment fund in the implementation of its agency mortgage-backed securities (MBS) investment strategy with 15+ dealer counterparties, including related ISDA, Master Securities Forward Transaction Agreement (MSFTA), and Master Repurchase Agreement (MRA) documentation
- Financial institution in developing template transaction and collateral documentation for crypto derivatives trading business
Representative experience also includes acting as derivatives regulatory counsel to:
- FX trading platform on distributed ledger technology (DLT)
- Multibank consortia in development of DLT platform for confirming equity derivatives transactions
- Sponsors and investment managers in connection with commodity pool operator (CPO) and commodity trading advisor (CTA) regulatory and compliance obligations
- Credit risk hedging service for uncleared OTC derivatives, involving a legal structure, algorithm, and operational process to enable banks to use contracts for differences (CFDs) to reduce their potential future exposure and mark-to-market (MTM) exposure
Ms. Weeks is an emerging thought leader in the derivatives industry, co-authoring such publications as:
- Latham & Watkins Discusses IBOR Fallbacks Protocol and Supplement from ISDA, Columbia Law School Blue Sky Blog (Nov. 2020)
- Not in Kansas Anymore: The Current State of Consumer Token Regulation in the United States, Global Legal Insights Blockchain & Cryptocurrency Regulation 2021 (Oct. 2020)
- Latham & Watkins Discusses CFTC No-Action Relief on IBOR Transition, Columbia Law School Blue Sky Blog (Sept. 2020)
- Equity Derivatives 2020: United States, Lexology: Getting the Deal Through (July 2020)
- US vs EU Margin Rules: Comparative Summary, cited in US Derivatives Regulation: Margin Collection and Exchange Requirements for Uncleared Swaps, Thomson Reuters: Practical Law Finance (July 2019)
- A Path for Consumer Tokens – the SEC and CFTC Analysis, Compliance Monitor (Nov. 2018)
- Are Your Employees Trading Bitcoin? Addressing Cryptocurrencies in Compliance Policies, Bloomberg Law (April 2018)
- Whistling a Common Tune: CFTC Finalizes Rule Amendments to Provide Greater Protection and Clarify Incentives for Whistleblowers, Corporate Counsel (June 2017)
- Marketing Non-US Private Equity Funds in the United States: A Roadmap through the Various Regulations and Tax Implications, Journal of Investment Compliance (May 2017)
- Evolution of the CFTC’s Whistleblower Program, New York University Compliance and Enforcement Blog (Sept. 2016)
- Dodd-Frank Almost 6 Years Later: Where Are We Now? Energy-Related Derivatives Regulation, Bloomberg BNA: Securities Regulation and Law Report (March 2016)
Ms. Weeks also has been invited to present on notable regulatory developments, including:
- US Regulatory and Enforcement Developments: Cryptocurrencies and ICOs, NYSBA Securities Regulation Committee Meeting (June 2018)
- Customer Collateral Protection for Listed Derivatives in the US and UK, Financial Industry Association Law & Compliance Division Webinar (June 2017)
- Financial Regulatory Whistleblower Programs, NYSBA Securities Regulation Committee Meeting (Oct. 2016)