Bank Affiliate Transactions Under Heightened Scrutiny
Complying With Regulation W's Complex Restrictions on Business Dealings with Affiliate Institutions
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Thursday, January 26, 2012
Recorded event now available
This CLE webinar will provide bank counsel with an analysis of Regulation W governing transactions that banks may conduct with affiliates and insiders, the impact of Dodd-Frank Amendments to the affiliate transaction rules, and best practices to comply with current requirements as well as upcoming Dodd-Frank mandates.
Description
Sections 23A and 23B of the Federal Reserve Act (as implemented by Regulation W) restrict certain transactions between banks and their non-bank affiliates. Considered by regulators to be an essential tool to ensure the safety and soundness of banks, Reg W compliance is even more critical in the current era of heightened scrutiny.
Several provisions in Dodd-Frank will tighten the restrictions on affiliate transactions beginning in July 2012, particularly with respect to derivatives transactions. These amendments expand the scope of “affiliates” and transactions subject to Section 23A and increase collateral requirements for extensions of credit.
While not a technical amendment to Section 23A, the Volker Rule restricts covered banking entities from engaging in certain kinds of transactions with covered funds. The Volker Rule, also effective July 2012, must be carefully considered in analyzing the propriety of relationships with investment funds.
Listen as our authoritative panel of banking attorneys guides you through the complex affiliate transaction rules, discusses impending regulatory changes from Dodd-Frank and offers best practices for compliance.
Outline
- Regulation W Rule 23A
- Quantitative limits
- Qualitative limits
- Collateral requirements
- Safe and sound terms
- Attribution rule
- Regulation W Rule 23B
- Market terms for affiliate transactions
- Attribution rule
- Dodd-Frank amendments
- Investment funds
- Derivative transactions
- Securities lending
- Repo transactions
- Changes in Federal Reserve exemptive authority
- Best practices for compliance
Benefits
The panel will review these and other key questions:
- What are the qualitative and quantitative limits and collateral requirements of Section 23A for covered transactions?
- How does Section 23B ensure that transactions between banks and their affiliates occur on market terms?
- What additional restrictions on affiliate transactions are mandated by Dodd-Frank Amendments to Section 23A and Section 23B?
- What additional restrictions on affiliate transactions are covered under the Volker Rule?
- What steps should banks be taking now to ensure compliance with Dodd-Frank Amendments to Section 23A and Section 23B?
Faculty
William E. Stern,
Partner
Goodwin Procter, New York
He works on a variety of transactional and regulatory matters for the Firm’s financial services clients, with particular emphasis on thrift institutions and their holding companies as well as transactions involving creation of a new bank, thrift charter or charter conversion, including advising clients on choosing and structuring appropriate depository institution charters for their business needs.
Lawrence D. Kaplan,
Of Counsel
Paul Hastings, Washington, D.C.
He advises clients on all aspects of bank regulatory issues, with an emphasis on corporate structuring, control, operations, problem banks, enforcement and the electronic provision of financial services. He also represents traditional and nontraditional financial services holding companies and financial institutions before federal and state bank regulatory agencies on a variety of matters.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
Pre-approved for participatory or non-traditional/alternate format credit in: CA, HI*, NY*, WV*.
Pre-approved for self-study credit in: AK, AZ, ME, MO, MT, TX, VT, WA.
Upon request, also available in: CO, CT*, FL, GA, ID, KY, LA*, NC, ND, NE, NH, NM, NV, OR*, SC, TN, UT, WI, WY. If you are applying for credit in one of these states, make sure to select those states when placing your order.
(*Indicates that Strafford must report attendance.)
Online CLE Audio $297.00
Available 24 hours after the live event
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, HI, ME, MO, MT, NY, TX, VT, WA, WV. Upon request, self-study credit is also available in: CO, FL, GA, ID, KY, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com.
Webinar Download (Slide Presentation with Audio) $297.00
Available three business days after the live event
DVD (Slide Presentation with Audio) $297.00
plus $9.45 S&H
Available ten business days after the live event
MP3 Download (Audio with Slide PDFs) $297.00
Available 24 hours after the live event
CD (Audio with Slide PDFs) $297.00
plus $9.45 S&H
Available ten business days after the live event
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CLE Credit
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Customer Reviews
This program provided a good refresher on 23A/23B requirements.
Jerry Sanchez
Cox Smith Matthews
The seminar did a good job of explaining the basic principles and educating us on upcoming changes.
Damier Xandrine
Wells Fargo Bank
The speakers were very experienced in not only the laws and issues but the Federal Reserve's policies and past practices. This was a timely topic in recognition of recent Dodd Frank changes.
Terrence J. Grasmick
Manatt Phelps & Phillips, LLP
I liked the detailed statistics and case discussions provided by the speakers.
Kathryn C. Ellsworth
Grais & Ellsworth LLP
I liked the speaker's overall information on the industry and how compelling the presentation was. The program was very thought provoking, and covered more than what we expected.
Judy Chen
Chapman and Cutler LLP
Finance Law Advisory Board
Partner
Gibson Dunn & Crutcher
Partner
Nixon Peabody
Partner
Alston & Bird
Counsel
Mayer Brown
Partner
O’Melveny & Myers
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