US Federal Reserve Board Approves Final Rule Significantly Revising Control Rules

The Board of Governors of the Federal Reserve System (Board) has finalized revisions to its approach for determining whether one company has control over another for purposes of the US Bank Holding Company Act of 1956 and the Home Owners’ Loan Act, as amended. While in many respects the revisions incorporate a more transparent and predictable framework for interpreting controlling influence issues into the Board’s regulations, they also introduce new concepts and raise critical questions about how the Board will implement the approach in practice. In our call, we will examine:

• The new, tiered framework of control presumptions
• Other changes in standalone presumptions, key definitions and other concepts in the “controlling influence” test
• Issues related to the implementation and operation of the Board’s new approach

Please join Mayer Brown partners Thomas Delaney and Jeffrey Taft and senior associate Matthew Bisanz to hear about this important development.

Mayer Brown’s Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm’s global resources from multiple practices and offices, the initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.