The New York City Bar Association has created a Structured Finance committee. Craig Wolson, partner with Duane Morris in New York and the committee's first chairman, is currently recruiting prospective members from within the NYCBA's membership and expects to hold the first meeting in early March. The NYCBA is now the only municipal bar association with a committee focused completely on structured finance, Wolson said.
Committee membership, like membership in the NYCBA, will be on an invitation only basis, and will be made up of 15 to 35 members The group will be divided into subcommittees whose job it will be to draft comment letters and report on issues that are significant in their areas of focus. The breakdown of subcommittees is still uncertain, but Wolson said there will likely be one focused solely on regulatory issues. The committee will ultimately try to affect change where necessary, as other NYCBA committees have done in the past. It was too early to tell what issues will be foremost on the committee's agenda.