Ms. Corcoran has undertaken several selective expert opinion engagements, primarily with respect to international benchmarks and standards relating to listed derivatives and securities market infrastructures (such as trading and clearing platforms). The following are some representative engagements:
Acted as Amicus. Brief of Andrea Corcoran, former director of the CFTC’s Division of Trading and Markets and Office of International Affairs, as Amicus Curiae supporting petitioners. US Supreme Court Docket No. 23-80 relating to the scope of independent agency (specifically the CFTC) enforcement jurisdiction and suggests that the Court request a brief from the CFTC. (filled August 23, 2023)
Acted as Amicus. Brief Amici Curiae
of Andrea Corcoran and Jeff Bandman, two former officials of the US CFTC supporting a Petition for Certiorari in the case of Atlantic Trading, USA v BP et al, US Supreme Court Docket No. 19-1141 pertaining to Prime Int’l Trading Ltd. et al. vs. BP plc, US District Court Doc. 180 (S.D.N.Y. 2016) aff’d., 937 F.3d 94,100 (2d Cir. 2019), cert. denied, 141 S.Ct.113 (2020). The brief addresses treatment of the extra-territorial scope of manipulation enforcement authority of the US CFTC as compared to the SEC. The brief pertains to so-called international commodities (for which the US dollar is typically the reserve currency) on which derivatives contracts traded on US licensed markets are based (submitted April 17, 2020).
Expert for Chicago Mercantile Exchange. Prepared report and provided deposition testimony, as to the structure and regulatory approval process for cleared listed derivatives, in the case of US Futures Exchange and Exchange Holdings vs. Board of Trade of City of Chicago and Chicago Mercantile Exchange, Case No.04C-6756, US District Court, 346 F. Supp. 3d 1230 (N.D. Ill. 2018); aff’d., 953 F. 3d 955 (7th Cir. 2020), granting summary judgment under anti-trust laws to defendants.
Expert for CFTC. Prepared report under seal, deposed in CFTC vs. US Bank, NA 13-CV-2061 (US District Court, Northern District of Iowa) related to interactions affecting customer funds held for Peregrine Financial Group. Settled by Consent Order February 4, 2015.
Consulting, reporting, and testifying expert in the case of multiple claims against the Liquidating Trustee in the case of the bankruptcy of Sentinel Management Group (Sentinel) in respect of the trust imposed on treatment of customer funds. Frederick J Grede, Liquidating Trustee vs FC Stone (2009 et seq.) Case No. 09-00136 in the US District Court Northern District of Illinois, Eastern Division. The 2007 bankruptcy case of Sentinel led to multiple appeals. In a series of cases the Liquidating Trustee attacked the protection of customers as a class, despite the special treatment of customer segregated trust funds in bankruptcy and under the Commodity Exchange Act, notwithstanding failure of the broker to properly segregate, and FC Stone’s ability to trace funds to its investment. The US Court of Appeals found for appellant, FC Stone. See, Grede vs. FC Stone, 867 F. 3d 767 (7th Cir. 2017); Petition for Certiorari, by the Liquidating Trustee denied (April 23, 2018, Supreme Court Docket 17-1086).
Acted initially as a consulting expert and subsequently prepared expert reports for submission, in two matters in Quebec, Canada.
The first report related to international benchmarks relative to the financial accountability of regulatory authorities. That report, dated September 14, 2009, was filed in the matter of Pellemans v. Lacroix, No. 500-06-000302-055, in Canada, Province of Quebec, District of Montreal on behalf of the Autorité des marchés financiers (AMF). It related to the accountability under international standards for good faith actions taken by a regulator related to activities at Norbourg Asset Management that had resulted in severe customer losses. The Court accepted the report, but no expert testimony was necessary as the class action seeking relief from the AMF settled in January 2011.
The second report dealt with international views on regulatory structure. That report, also on behalf of the AMF, dated June 23, 2010, was filed in connection with the reference filed on July 10, 2009, in the Constitutional case brought by the Gouvernement du Québec before the Québec Cours d’Appel, pertaining to the Canadian government's initiative to establish a Canadian securities regulation regime and a federal Canadian securities regulatory authority, “Renvoi compétence du Parlement du Canada en matières de valeurs mobilières. » No testimony was taken in this case, which was heard in April 2011 and was part of multiple measures considered with respect to further consolidating the oversight of securities regulation in Canada.
