Attorney-Client Privilege for Financial Institutions in Internal Investigations, Audits and Bank Regulatory Exams
Preserving Confidential Information and Work Product, Navigating the Bank Examination Privilege and Section 1828 Selective Waiver
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will discuss the nature of the attorney-client privilege for banks and financial institutions, who holds and who may invoke the privilege, the scope of the privilege, and how to respond to document requests that seek privileged information. The program will also address the applicability and scope of the attorney-client privilege asserted by a bank in response to a request by a regulatory agency for information on communication between the bank and its legal counsel.
- Bank regulatory agencies and the bank examination privilege
- Regulator requests to compel banks to disclose privileged information; policy positions of OCC, FRB, FDIC, CFPB and state agencies
- Evaluating whether to waive attorney-client privilege in response to a regulatory demand
- Selective waiver and Section 1828
- Regulators selective disclosure of confidential material to other agencies
- ESteps banks can take to strengthen protection of confidentiality of shared privileged information
- Scope of waiver (including Rule 502)
- Types of waiver
- Disclosure of investigative report
- Who has the privilege in internal investigations/audits
- Privilege considerations when interviewing employees
- Privilege within the corporation during the investigation
- Protecting communication among management
- Privilege and former employees
- Audit committees and reporting to the board
- Third parties in investigations
- The Garner doctrine—access to investigatory materials by shareholders and other beneficiaries of fiduciary relationships
We also will discuss:
- The nature of the attorney-client privilege for banks and financial institutions, who holds and who may invoke the privilege, the scope of the privilege, and how to respond to document requests that seek privileged information.
- How can a bank or financial institution maintain the confidentiality of sensitive information when conducting an internal investigation—or during an audit or investigation by third-party investigators?
- What is the applicability and scope of the bank examination privilege for confidential information disclosed to banking regulatory agencies?
- What is the scope of federal protection against the selective waiver doctrine?
- What steps can banks take to strengthen protection of confidentiality of shared privileged information with banking regulators?
Nicole A. Baker
Ms. Baker's practice focuses on government enforcement and litigation matters. She regularly represents individuals... | Read More
Ms. Baker's practice focuses on government enforcement and litigation matters. She regularly represents individuals and entities, including banks, broker-dealers, investment companies and investment advisers, before the SEC, FINRA, DOJ, CFPB, HUD, and other government agencies. She also advises clients with respect to private litigation matters in federal and state courts. She is experienced in conducting internal investigations on behalf of public and privately held companies, financial institutions and non-profit organizations. Representative matters have involved the financial services, consumer finance, education and health care industries.Close
Alex C. Lakatos
Mr. Lakatos practices in complex international litigation, particularly on behalf of non-US financial institutions. He... | Read More
Mr. Lakatos practices in complex international litigation, particularly on behalf of non-US financial institutions. He also counsels financial institutions on banking and securities regulatory, enforcement, legislative, and strategic issues. He is experienced in contesting issues of particular concern to non-US financial institutions, such as financial privacy, data protection, multi-jurisdictional discovery, choice‑of-law conflicts, sanctions compliance and asset forfeiture.Close
Stavroula E. Lambrakopoulos
Ms. Lambrakopoulos concentrates her practice in securities enforcement matters, securities and financial services... | Read More
Ms. Lambrakopoulos concentrates her practice in securities enforcement matters, securities and financial services litigation, internal investigations and broker-dealer regulation. She regularly represents corporate and individual clients in enforcement proceedings before the SEC, the Department of Justice, FINRA, and state securities regulators. She represents financial institutions, corporations, and their officers in complex financial services cases and securities class action litigation.Close