How to Have Control (or Avoid It): Implementation of the Federal Reserve’s Control Rules
Wednesday, August 12, 2020 | 12:00 pm – 1:00 pm (ET)
PRESENTED BY: Banking Law Committee
Earlier this year, the Federal Reserve finalized revisions to its approach for determining whether one company has control over another for purposes of the Bank Holding Company Act of 1956 and the Home Owners’ Loan Act, as amended. After a brief delay due to the effects of COVID-19, the revisions are about to become effective on September 30, 2020
While in many respects the revisions codify existing requirements and incorporate a more transparent and predictable framework for interpreting controlling influence issues into the Federal Reserve’s regulations, they also introduce new concepts and raise critical questions about how the agency will implement the approach in practice. Further, the revisions generally do not include grandfathering provisions for existing arrangements, and contemplate continued consultations with Federal Reserve staff for certain existing and new arrangements and relationships.
This webinar will provide an overview of the revisions to the control rules and highlight some of the more significant concepts that have changed from existing practice or the 2019 proposal. Among other topics, it will explore how institutions, investors, and investees can navigate the implementation of the revisions and where they may to encounter difficulties.
This event is open to Business Law Section members and non-members. Business Law Section members will also be able to access a recording of the webinar after the event. If you're not an ABA Business Law Section member and would like to join, you can do so here.
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PROGRAM MATERIALS AND PAST PROGRAMS
There are no written materials for this program. All recordings and materials from this program and previous programs are available for free for ABA members and can be found on the ABA Business Law Section website.
ABOUT THE PANELISTS
Jarryd Anderson - (moderator) is Vice President and Senior Counsel at Wells Fargo & Co. Jarryd advises on a wide range of prudential bank regulatory issues, including control, permissible activities, structuring of new products and investments, mergers, acquisitions, and strategic transactions, and regulatory compliance matters. He also advises businesses on Dodd-Frank Act compliance, including recovery and resolution planning. Jarryd was previously with the Federal Reserve Board.
Joe Silvia - is a partner in Howard and Howard’s financial institutions practice. Joe advises financial institutions and corporate clients on general corporate matters, mergers, acquisitions, strategic transactions, private equity and venture capital investments, and banking and financial services regulation. This includes state and federal regulation with respect to licensing, retail banking, consumer credit, cannabis, anti-money laundering and OFAC compliance, payments, vendor management, money transmission, blockchain, and digital currencies.
Matt Bisanz - is a senior associate in Mayer Brown’s financial services regulatory and enforcement practice. Matt advises financial institutions regarding all major aspects of the operations of an insured depository institution, its affiliates, and its partners—including chartering, acquisition, and permissibility analyses; ongoing risk management, governance, and compliance requirements; and insolvency and resolution issues. He also advises clients on Dodd-Frank Act compliance issues, including the Volcker Rule and Title VII compliance.