Biography

Knox McIlwain’s practice focuses on the regulation, resiliency and resolution of financial institutions, particularly global systemically important banks.

With experience in a broad array of financial company resolution regimes and related regulatory frameworks in the U.S., Europe and elsewhere, Knox helps clients with global business models navigate divergent and at times conflicting local regimes. He advises clients on a wide range of topics, from the structure of TLAC bonds and global resolution strategies to the rights of creditors and evolving regulatory requirements.

Knox frequently works with clients on effective engagement with regulators, including responding to regulatory proposals and advocating for regulatory changes.

Knox joined the firm in 2007 and became counsel in 2017.

Notable Experience

  • The International Swaps and Derivatives Association on all aspects of the ISDA Resolution Stay Protocols.
  • The Institute of International Bankers on its advocacy efforts regarding the Federal Reserve’s total loss-absorbing capacity (TLAC) rules for non-U.S. banks and related tax guidance issued by the Internal Revenue Service.
  • Major banks and buyside entities on the stays on the exercise of contractual early termination rights imposed under various special resolution regimes in the U.S., Europe and elsewhere, including related regulations on the terms of such early termination rights.
  • Dealer and buyside market participants on creditors’ rights and financial company insolvency matters regarding the Orderly Liquidation Authority provisions of the Dodd-Frank Act, the Federal Deposit Insurance Act, the Bankruptcy Code, the New York State “ring fence” and the European Bank Recovery and Resolution Directive.
  • Various major asset managers on creditors’ rights and regulatory compliance issues related to swaps transactions with global dealer banks and investments (eg, purchases of TLAC instruments) in such banks.

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