Derivatives law firm of the year: Allen & Overy

Richard Tredgett and David Benton

Banks may be canning traders by the thousands as they look to reshape their businesses in the new regulatory environment, but there’s one resource they can’t do without: lawyers. The Dodd-Frank Act alone has spawned thousands of pages of rule-makings and guidance – and it’s the same story elsewhere.

Making sense of these rules in isolation is challenging enough, but working out how the various regulations will interact is even more vital – and industry participants have been turning to external