Mayer Brown’s bank regulatory lawyers have significant experience navigating the complex web of regulatory requirements facing banking institutions throughout the world. Our Bank Regulatory practice has repeatedly succeeded in obtaining positive and timely regulatory responses to proposed activities that raise difficult or first-impression legal and regulatory questions.
We provide regulatory advice to financial services firms and their non-financial counterparties on the regional, national and international application, review and compliance requirements that they face. Our counseling activities extend across the spectrum of financial institutions and business and product lines and involve, among other things: governance and oversight; structural and organizational requirements; domestic and international financial reporting and regulatory capital standards; corporate governance, regulatory applications and conflicts of interest; new product development; lending limits and quantitative activity standards; regulatory examinations and inspections; and insolvency / dissolution matters.
Financial Reform Legislation
We advise clients with respect to the TARP and TALF programs and more recently in connection with the implementation of the Dodd-Frank Act. We have been particularly active in advising clients on the impact of the Dodd-Frank Act on capital requirements, portfolio investment activities (Volcker rule), derivative investments, consumer lending and the implications of regulation as a systemically important financial institution (SIFI).
Regulatory Compliance Counseling
We advise clients on the principal regulatory application and review requirements under federal and state laws, including the Bank Holding Company Act, the National Bank Act, the International Banking Act, the Change in Bank Control Act, the Home Owners’ Loan Act in the US, the Financial Services and Markets Act in the UK, all EU financial services regulations and directives, and the Banking Ordinance, the Securities and Futures Ordinance, and the Insurance Companies Ordinance in Hong Kong. We also advise regarding anti-money laundering polices and procedures under the USA PATRIOT Act, the UK Proceeds of Crime Act, the Hong Kong Drug Trafficking (Recovery of Proceeds) Ordinance, the Organized and Serious Crimes Ordinance and the United Nations (Anti-Terrorism Measures) Ordinance.
We assist in structuring and documenting regulated transactions, and in preparing, submitting and negotiating all necessary regulatory applications and notice filings. We also counsel clients on solving complex management issues associated with corporate transactions, and advise boards and board committees on matters such as corporate governance and oversight, transactions with affiliates, internal review, risk management and management succession.
Working with Regulators
Our Bank Regulatory Practice relies heavily on the breadth and quality of its knowledge, reputation and experience with federal and state financial regulators in the US and country regulators in Europe and Asia. Our lawyers, both firmwide and within the Financial Services Regulatory & Enforcement Practice, have extensive and long-standing relationships with key regulatory bodies. Many have held senior positions at financial regulators including the DoJ, SEC and OFAC in the US and the FCA and HM Treasury in the UK. Through these relationships, we have cultivated an excellent reputation among regulators for our creativity, legal and practical acumen, thoughtfulness, responsiveness and integrity.
Philosophically, our general approach to dealing with regulators is consultative rather than adversarial in nature. We emphatically believe that preserving and enhancing the quality of our clients' regulatory relationships is an essential component of the advice and services we provide to our clients. At the same time, we are fully prepared to represent our clients zealously and effectively in contested or otherwise adversarial regulatory matters.