Dodd-Frank Act and Minimizing the Cost of Compliance
Overview:
Since its introduction, finance institutions have been struggling with implementation and compliance issues surrounding the Dodd-Frank Act. The only way to prevent costly sanctions is to ensure that your policies conform to the anticipated compliance requirements. This Live Webcast will teach you how to comply while minimizing costs. In addition to regulatory updates, our panel of key experts will also offer best practices.
Agenda:
Michael Keeley, Partner,
Hunton & Williams LLP
- Capital implications of Dodd Frank and Basel III
- Avoiding regulatory meltdown
- Fair Lending
- Repeal of Reg Q.
- Remittance Rules
- CFPB
Brian R. Iverson, Attorney,
Brian R. Iverson, Attorney,
Introduction / Overview
-Dodd-Frank is over 2,300 pages and requires hundreds of rules
-Focus on provisions most significant for bank compliance
Whistleblower Provisions
-Overview of text (Sections 748 and 922)
-Overview of regulations
-Discussion of incentives and protections
-Compare to SOX whistleblower provisions
-Discuss Consumer Financial Protection Act whistleblower provisions (Section 1057)
-Comparison of SEC, CFTC and CFPB rules
-Prohibition on waiver and pre-dispute arbitration clauses
-Benefits and risks to financial institutions
-Effective compliance structure (incentives for reporting, investigation of reports, documentation of employment actions)
Living Wills
-Overview of text (Section 165(d))
-Policy considerations
-Federal Reserve Board and FDIC (holding companies and insured depository institutions)
-Deadlines for initial resolution plans
-Annual updates
-Periodic updates to address events with material effect on resolution plan
-Contents of resolution plans
-Regulatory review and scrutiny of resolution plans
Swaps Push-outs
-Overview of text (Section 716)
-Not an explicit ban, but practical ban based on limit to federal assistance
-Exceptions
-Statutory and regulatory definitions
-7/16/13 effective date with at least 2 year compliance period
-Compliance initiatives
Volcker Rule
-Overview of text (Section 619)
-Ban on proprietary trading and hedge and private equity fund ownership
-etailed and specific proposed rule
-Specific compliance program requirements in proposed rules
-Data collection and analysis requirements in proposed rules
-Statute has July 2012 effective date, with 7/21/14 compliance deadline
-Proposed rule is extremely complex and has been pending for months
-Near-term compliance initiatives based on statutory text
-Long-term compliance planning based on proposed rules
-Prepare to adapt based on regulatory developments
Diana Bergherr, Managing Director, Business Development Compliance,
DLA Compliance
- Alternative Arrangements
- Compliance and Ethics training
- Automation
- Reviews and audits
Larry Albin, Principal,
Deloitte Consulting LLP
Addressing specific requirements of Dodd Frank / lessons learned:
- Collateral management and clearing – emerging operating model and technology requirements
- Regulatory reporting – challenges in trade reporting and industry practices
- Living Wills and resolution planning –getting to compliance and recognizing business value
- How to organize and report on progress to regulators across initiatives
Who Should Attend:
- Bank Regulators
- Bank Presidents
- Bank Owner/Executives
- Financial Institutions’ Executives
- Bank Supervisors
- Compliance Officers
- CFOs
- CEOs
- Investors
- Chief Risk Officers
- Banking Regulation Lawyers
- Banking Lawyers & Consultants
- Finance Lawyers
- Senior Management
- And other related professionals
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
124284
Total Credits:
2.0 CLE
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