Mr. Faulkner has represented commercial paper issuers and arrangers, as well as sellers of assets to asset-backed commercial paper programs. He has advised on cross-border issuances into and out of the United States. In addition, he has advised issuers of commodity index linked structured products, including exchange traded funds.
Mr. Faulkner has a broad credit card securitization practice. He helped establish credit card master trusts for many major issuers and has represented issuers and the underwriters of securities backed by VISA and MasterCard receivables and retailer private label credit card receivables. Mr. Faulkner has worked on structural innovations for the public issuance of subordinated classes of credit card receivables-backed securities. He also has represented buyers and seller of portfolios of credit card accounts. Mr. Faulkner has acted as counsel to the issuers or to the underwriters in securitized transactions by Chase, 1st Financial Bank USA, Target Corporation, Bluestem Brands and many other issuers.
Recent transactions have included acquisitions, financings and securitizations of marketplace loans, restructurings of securitization programs, sales of consumer loan portfolios, and advice to purchasers of interests in distressed asset-backed securities transactions. Mr. Faulkner has advised clients on regulatory developments, including the implementation of new Regulation AB and Risk Retention rules and the Volcker Rule.
Mr. Faulkner is a former member of the board of directors of the American Securitization Forum. He represented the American Securitization Forum in efforts to modify and preserve the FDIC’s legal isolation safe harbor for securitization transactions. He also represented SIFMA in connection with the preparation of comment letters on rules proposed to implement the conflicts of interest limitations for securitization participants under the Dodd-Frank Act.
Mr. Faulkner repeatedly has been selected for inclusion in Chambers Global: The World’s Leading Lawyers for Business, Chambers USA: America’s Leading Lawyers for Business and The Best Lawyers in America. He was named Best Lawyers’ 2018 and 2016 New York Securitization and Structured Finance Lawyer of the Year and was named in Expert Guides’ Best of the Best USA in 2017.