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Financial Services

Reputation is a treasured asset for financial services organizations—which is why the industry's global institutions, mid-sized and community banks and broker-dealers, and specialty firms bank (and even nonbank) on Arnold & Porter to burnish their businesses. Our widely recognized Financial Services Regulatory team combines renowned regulatory, litigation and transactional capabilities with pragmatic problem-solving and results-driven determination to optimize our clients' options. We develop innovative structures and novel solutions to regulatory issues that allow clients to optimize their business strategy. To date, these efforts have led to favorable changes to agency rules and novel legal interpretations that have enabled our clients to offer new products and services, structure operations and expand the scope of their operations in an efficient manner, consistent with their business objectives.

Recognized Regulatory Excellence: Deep knowledge of all applicable financial services regulatory laws of the US as well as the views of the Basel Committee on Banking Supervision and the Financial Stability Board.

Comprehensive Coverage for Complex Issues: Counseling on structure and charter choices; governance; investigations and enforcement actions; financial products and services; applying agency guidance and statements of policy; obtaining regulatory approvals, registrations and licenses; and securing interpretations of existing statutes/rules.

Interdisciplinary Approach/Integrated Solutions: Decades of industry and sub-sector experience enhanced by insights from our market-leading corporate and finance; litigation; enforcement; public policy and legislative; antitrust/competition; tax, trusts, and estates; real estate, ERISA; employment; and IP practices.

70+: Lawyers providing financial institution clients with comprehensive regulatory, litigation, legislative, and transactional services.
Countless Connections: We have deep experience and familiarity with the views and expectations of the financial regulators.

Experience Highlights

  • Several banks regarding compliance with the New York Department of Financial Services' Part 500 cybersecurity rules.
  • Many banks and broker-dealers regarding sweep deposits and brokered CD programs.
  • Wealth management arms of several prominent banking organizations on strategic issues, acquisitions, employment matters, products and services documentation, customer-facing agreements, negotiation of vendor agreements, and a broad range of bank and securities regulatory compliance issues.
  • Multiple banking organizations in the design, documentation, formation, offering, and operation of private investment funds for institutional and high-net-worth investors.
  • Multiple domestic and foreign banks, securities firms and other financial services firms on AML/BSA compliance, investigations and enforcement matters.
  • Multiple banks on investments in and acquisitions of FinTech companies, finance businesses, broker-dealers, and investment advisers.
  • Multiple US and foreign banks on Volcker Rule and merchant banking rule compliance in structuring joint ventures, investment programs and private fund products.
  • Piermont Bank on all aspects of forming a new state-chartered bank, including advice and processing of all regulatory applications, corporate governance advice and initial capital raise.
  • Multiple banks as lenders on Paycheck Protection Program (PPP) requirements, documentation and processes.
  • Financial services firms and borrowers regarding (1) new financing facilities under the COVID-19 emergency Federal Reserve and CARES Act financing facilities, and (2) the enforcement and litigation considerations associated with these financing programs and regulatory guidance.
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