Fried, Frank, Harris, Shriver & Jacobson LLP today announced the release of The Bank Holding Company Guide: The New Rules of the Road for Banks and their Investors. The Guide is a concise manual authored by the partners of the Firm's Financial Institutions Transactions practice to assist regulated holding companies, their investors and companies that may be designated as systemically significant organizations better frame and resolve the issues that will arise as the future of federal regulation of the financial services industry is debated.
"Recent shifts in the federal regulation of the financial services sector have been dramatic and ever-evolving. In the last few months alone, we've seen the Congress consider a significant expansion of the applicability of holding company and bank receivership rules, and the FDIC create new guidelines and requirements for private equity investment in failed banks," said Thomas Vartanian, chair of the Firm's Financial Institutions Transactions practice. "An understanding of these new 'rules of the road' is critical to current holding companies, potential holding companies of the future, and their investors, all of whom will need to identify the financial opportunities and risks they will face."
The Guide discusses, among other things, how and when investors become subject to regulation based on "control" of a bank, savings association or holding company; what activities a regulated holding may perform and under what circumstances; what government support is available to a regulated holding company; and what investment structures may be used to avoid control and holding company restrictions.
Fried Frank's Financial Institutions Transactions practice, well known for its work on complex corporate recapitalizations and restructurings, supervisory mergers and acquisitions, FDIC receiverships, and regulatory enforcement matters, regularly advises clients on the day-to-day and complex issues that face financial companies and investment banks and applies creative solutions in complex situations. The practice plays a leading role in the Firm's Financial Services Task Force, which was formed in September 2008, in response to the significant changes in the global economic climate.
To obtain additional copies of the Guide, please visit Fried Frank's website at www.friedfrank.com/subscribe.