Bank Affiliate Transactions: Navigating Regulation W, Sections 23A and 23B of the Federal Reserve Act
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will provide bank counsel with an analysis of Regulation W, which governs transactions that banks may conduct with affiliates and insiders, and best practices for compliance. The panel will also discuss the impact of Dodd-Frank mandates, including Sections 608 and 619, on the affiliate transaction rules and the anticipated regulatory and enforcement framework under the new administration. They will also address practical problems and solutions.
Outline
- Regulation W Rule 23A
- What constitutes an "affiliate"
- Covered transactions: the seven categories
- Quantitative limitations
- Collateral requirements
- Exemptions
- Regulation W Rule 23B
- Market terms for affiliate transactions
- Attribution rule
- Dodd-Frank Amendments
- Investment funds
- Derivative transactions
- Securities lending
Benefits
The panel will review these and other key issues:
- What are the qualitative and quantitative limits and collateral requirements of Section 23A for covered transactions?
- How does Section 23B ensure that banks' and affiliates' transactions occur on market terms?
- What are the additional restrictions under Regulation W mandated under Dodd-Frank?
- How will the current movement toward financial deregulation impact Regulation W?
- Practical examples and solutions
Faculty
Ralph F. (Chip) MacDonald, III
Of Counsel
Jones Day
Mr. MacDonald is a financial services lawyer who focuses on M&As, public and private securities, governance, and... | Read More
Mr. MacDonald is a financial services lawyer who focuses on M&As, public and private securities, governance, and policy issues for clients engaged in this industry. Since 1979, he has helped domestic and international clients including bank holding companies, banks, investment banks, broker-dealers, investment managers, and fintech companies. He advises senior management and boards of directors. Mr. MacDonald also provides strategic and transaction guidance, including evolving areas such as regulatory relief and financial services policy. A growing area is the fintech industry, particularly its regulation and relationships with state, federal, and foreign regulators and traditional financial services companies. Clients range from global banks such as Citibank and BNP to regional and community banks. He often advises commercial businesses with respect to relationships and services with their financial services providers. Mr. MacDonald advises clients frequently regarding financial services M&As, asset and liability transactions, public and private securities offerings, Volcker Rule, investments and risk management, and bank, trust company, credit card, fintech, and other financial services charters.
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Michael Scarpa
Managing Director
KPMG US
During his tenure at KPMG, Mr. Scarpa has provided legal and regulatory information and analysis to clients and... | Read More
During his tenure at KPMG, Mr. Scarpa has provided legal and regulatory information and analysis to clients and more senior staff at the firm while also working on Basel III/market risk gap testing, Federal Reserve Exam Readiness, Regulation W, Qualified Financial Contract Recordkeeping, and bank obligation drafting/policy mapping engagements. He has also worked extensively with the Project Management Office (PMO) for a global regulatory obligations drafting and policy mapping engagement with a Large US Bank. While working within the PMO, Mr. Scarpa served as a subject matter professional and workstream lead for several business unites within the bank. In his role as workstream lead, he assisted with the successful implementation of a large bank rules management process over a three year period.
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Camden W. Williams
Senior Counsel, Regulatory Affairs
The PNC Financial Services Group
Mr. Williams advises banks and other financial institutions on regulatory, transactional and compliance matters.... | Read More
Mr. Williams advises banks and other financial institutions on regulatory, transactional and compliance matters. He has extensive experience advising domestic and international financial institutions on regulatory reform issues relating to implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, including the Volcker Rule and the enhanced supervision and prudential standards.
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