Banking Law Update 2009: Shaping the Future of the Financial Services System

Overview

Why You Should Attend

One year after the global financial system experienced its greatest crisis since the Great Depression, the U.S. Congress and Administration have begun the process of fundamentally transforming the operations and oversight of the financial system.  The scope of these reforms is larger than any considered in decades, and will affect every segment of the financial services system.  At the same time, federal involvement in the financial system, from TARP funding and compliance rules to FDIC resolution of failing banks, continues to grow.  At the Banking Law Update our expert faculty will provide you with important insight into the transformational changes that have been implemented or are being considered by Congress and the regulators and how these will reshape the financial system as well as a comprehensive update on Federal government involvement in the financial system.

What You Will Learn

• Understand the Federal Government’s plans for industry and regulatory reform
• Review the intricacies of the FDIC’s regulation process and key issues for bidders, including private capital investors
• Survey the changing M&A environment for the financial services industry
• Identify the latest regulatory and prosecutorial enforcement initiatives

Who Should Attend

This program will provide important context for those seeking to understand the financial crisis as well as an update on the fundament regulatory and legislative changes that are reshaping our financial system. Senior executives, legal and compliance staff, investment bankers, outside counsel, others involved with domestic and international financial institutions, and individuals seeking a better understanding of banking law will benefit from this program.

Special Features

Live Webcast - Simultaneous live webcast of the New York session is available for individual viewing. Webcast participants will receive streaming audio and/or video of the program, view and print the Course Handbook, and have the ability to submit questions electronically.

For more information click on the Live Webcast link in the Related Items box.

Special Bonus to all Registrants

All attendees receive a complimentary copy of PLI's comprehensive Course Handbook. This softcover, bound volume was written to augment this program and to stand alone as a permanent reference. PLI's Course Handbooks represent the definitive thinking of the nation's finest legal minds, and are often the standard reference in the field.

Please Note: Webcast attendees will receive a downloadable version of the Handbook one business day prior to the program.

PLI Group Discounts

Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact membership@pli.edu or call (800) 260-4PLI.

PLI Can Arrange Group Viewing to Your Firm

Contact the Groupcasts Department via email at groupcasts@pli.edu for more details.

Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Schedule

Morning Session:  9:00 a.m. - 12:30 p.m.

9:00  Introduction

Lee A. Meyerson, William J. Sweet, Jr.

9:15  Overview of Mergers and Acquisitions in Troubled Times & The Reorganization of Financial Supervisors and Supervision

• Overview of mergers and acquisitions in troubled times
  -Review of the year's transactions
  -Transaction challenges from the perspectives of target and acquiror boards
  -Regulatory challenges
  -Due diligence in a declining credit and volatile liquidity setting
• The reorganization of financial supervisors and supervision
  -The Treasury proposal and White Paper
  -Legislative proposals in the 111th congress
  -Market Risk Supervisor, The Federal Reserve and The Council of Supervisors
  -The Consumer Financial Protection Agency
  -Derivatives regulation
  -SEC and CFTC jurisdiction

H. Rodgin Cohen, Douglas E. Harris, Sara A. Kelsey, John A. Mahoney, Laurie Schaffer

10:45  Networking Break

11:00  Non-Strategic Investors in Banking Organizations

• FDIC policy statement on qualification to purchase banks in receivership
• Issues for investor consortia
• Disclosure and reporting
• Liability considerations

Richard K. Kim, Ellen Patterson, William S. Rubenstein

12:15  Lunch

Afternoon Session: 1:15 p.m. - 5:00 p.m.

1:15  Acquisitions of Insolvent Institutions from the FDIC

• Disposition alternatives available to the receiver
• Eligible bidders and the conduct of auctions
• Assistance options in closed bank transactions
• Considerations for bidders
• Open bank transactions and good bank/bad bank structures
• Corus, IndyMac, BankUnited and Security Bank

John L. Douglas, Joseph A. Jiampietro, Randal K. Quarles, Sharon L. Yore

2:15  Government Approvals Required to Acquire Institutions from the FDIC

• Approval for a "Shelf Charter" for a national bank, federal thrift or state bank
• Preliminary approval for holding company structure
• The future of "Silo" structures
• Minority investments and strategic/financial investor partnerships

Donald Dwyer (invited), Patricia A. Robinson, Christopher J. Spoth, Kristina Whittaker

3:15  Networking Break

3:30  Ethics and the Role of Counsel at a Troubled Institution & Advising Troubled Institutions

• Ethics and the role of counsel at a troubled institution
  -Governance and the role of counsel as intermediary with the government
  -Who is the client: the bank or its creditors and the deposit insurance fund?
  -Dealing with conflicts between the holding company and bank as client
  -Privilege issues in advising institutions that may be seized by the government
• Advising troubled institutions
  -Prompt corrective action
  -Golden parachute regulations
  -Enforcement actions
  -Capital plans
  -Implementing corrective programs 
  -Managing consultants

Richard M. Alexander, Deborah P. Bailey, Thomas C. Baxter, Jr., Anthony E. Davis, Professor Bruce A. Green , Andrew L. Sandler 

5:00  Adjourn

Faculty

Co-Chair(s)

Lee A. Meyerson, Simpson Thacher & Bartlett LLP
William J. Sweet, Jr., Partner, Skadden, Arps, Slate, Meagher & Flom LLP

Speaker(s)

Richard M. Alexander, Arnold & Porter LLP
Deborah P. Bailey, Deloitte & Touche LLP
Thomas C. Baxter, Jr., General Counsel and Executive Vice President, Federal Reserve Bank of New York
H. Rodgin Cohen, Sullivan & Cromwell LLP
Anthony E. Davis, Lawyers for the Profession® practice group, Hinshaw & Culbertson LLP
John L. Douglas, Davis Polk & Wardwell
Bruce A. Green, Louis Stein Professor and Director, Louis Stein Center for Law and Ethics, Fordham Law School
Douglas E. Harris, Managing Director, Promontory Financial Group, L.L.C.
Joseph A. Jiampietro, Senior Advisor to the Chairman for Markets, Federal Deposit Insurance Corporation (FDIC)
Sara A. Kelsey, Wilmer Cutler Pickering Hale & Dorr LLP
Richard K. Kim, Wachtell, Lipton, Rosen & Katz
John A. Mahoney, Managing Director, Goldman Sachs & Co.
Ellen R. Patterson, Simpson Thacher & Bartlett LLP
Randal K. Quarles, Managing Director, The Carlyle Group
Pat A. Robinson, Assistant General Counsel, Legal Division, Board of Governors of the Federal Reserve System
William S. Rubenstein, Skadden, Arps, Slate, Meagher & Flom LLP
Andrew L. Sandler, BuckleySandler LLP
Laurie S. Schaffer, Assistant General Counsel for Banking and Finance, Office of the General Counsel, U.S. Department of the Treasury
Christopher J. Spoth, Senior Deputy Director, Division of Supervision and Consumer, Federal Deposit Insurance Corporation (FDIC)
Kristina Whittaker, Assistant Director, Bank Activities and Structure; Legal Division, Office of the Comptroller of the Currency (OCC)
Sharon L. Yore, Manager of Franchise Marketing, Federal Deposit Insurance Corporation (FDIC)

Program Attorney(s)

Stacey L. Greenblatt, Practising Law Institute

CLE Credit

Travel Information

New York City Seminar Location

PLI New York Center, 810 Seventh Avenue at 53rd Street (21st floor), New York, New York 10019. Message Center, program days only: (212) 824-5733.

New York City Hotel Accommodations

Due to high demand and limited inventory in NYC, we recommend reserving hotel rooms as early as possible.

The New York Hilton & Towers, 1335 Avenue of the Americas, New York, NY 10019. 1 block from PLI Center. Reservations 1-800-HILTONS or, 1-877-NYC-HILT. Please mention that you are booking a room under the Practising Law Institute Corporate rate and the Client File # is N495741. Reservations on line at www.hilton.com and enter the same Client File # in the Corporate ID # field to access Practising Law Institute rates.

The Warwick New York Hotel, 65 West 54th Street New York, NY 10019. 1 block from PLI Center. Reservations 800-223-4099 or, hotel direct 212-247-2700. Please mention that you are booking a room under the Practising Law Institute Corporate rate. Reservations on line at www.warwickhotelny.com Click reservations in menu bar on left. Select desired dates. In 'Special Rates' drop down window select Corporate Rate. In 'Rate Code' enter PLIN. Click search and select desired room type and rate plan. Or, you may email reservation requests to: res.ny@warwickhotels.com