Our practice group brings together a global team of lawyers to advise international banks, broker-dealers, hedge funds and investment advisers, and other diversified financial services companies about their current and prospective activities or investments in the U.S. We have experience working with companies worldwide, including those based in Australia, Canada, China, France, Germany, Italy, India, Ireland, Japan, Korea, the Netherlands, Pakistan, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom.
We offer our international financial services clients a comprehensive range of transactional and advisory services, including representation before U.S. federal and state banking regulators; advice on syndicated lending transactions; capital markets and funding initiatives; joint ventures and mergers and acquisitions in the U.S.; assistance in developing new products and services; guidance in conducting international securities sales, underwriting and asset management activities by banks and bank affiliates; and counsel when faced with threatened and actual enforcement actions in the U.S. We also advise our global clients on the impact of key U.S. banking laws, including the Dodd-Frank Act, USA PATRIOT Act, Gramm-Leach-Bliley Act and Sarbanes-Oxley Act, as well as various EU directives and regulations.
Working across offices and in conjunction with other experienced professionals within the firm, our Banking and Financial Services lawyers have assisted our global financial services clients with the following:
- Evaluating and structuring acquisitions of, or investments in, U.S. banks and nonbanking companies, and the establishment of U.S. banking and nonbanking offices.
- Securing regulatory approvals from, or otherwise negotiating with, the Federal Reserve, the OCC , the FDIC and state banking departments, including the New York State Department of Financial Services.
- Structuring their U.S. activities and investments to achieve institutional goals within applicable U.S. activities and investment limitations.
- Developing new, or expand existing, products and services, including internet-based banking services.
- Creating or improving appropriate policies and procedures, including risk management and anti-money laundering measures.
- Avoiding or resolving agency enforcement actions and instituting remedial measures;
- Establishing global private banking and trust programs, in conjunction with members of Sidley’s Trusts, Estates and Not-for-Profits practice.
- Organizing broker-dealer affiliates of banks.
- Developing funding programs consistent with U.S. regulatory requirements.
- Developing credit derivatives and securities lending strategies.
- Structuring securities offerings, including rule 144A offerings, ADRs/GDRs, trust-preferred securities, CDOs, subordinated debt, covered bonds, synthetic securitizations, medium-term notes and commercial paper programs and conduits.
- Represented large and small European, Asian and Latin American banks in their efforts to establish or acquire U.S. operations, and provided ongoing regulatory and compliance advice relating to those operations.
- Worked with clients to establish the extensive policies and procedures required to commence U.S. business operations through U.S. branch offices.
- Assisted global banking clients in analyzing and responding to supervisory critiques of their operations, including capital and liquidity issues.
- As international counsel, provided regulatory advice to one of the world’s largest banks in its role as placement agent in a U.S. $70 billion offering of common and preferred shares by one of the largest energy companies in the world.
- Assisted major Asian banks in commercial paper offerings in the United States.
- Assisted a major Spanish bank in its offering of customized structured note products to U.S. buyers, including assistance with development of appropriate disclosures, disclaimers and risk factor statements for distribution to potential U.S. qualified institutional buyers.
- Represented banks seeking to access U.S. commercial paper and medium-term note markets.
- Represented agent banks in syndicated lending transactions.
- Assisted international banks in developing lines of business policies and procedures for trade finance, foreign exchange, lending and Treasury operations in the U.S.