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  • 1.

    What are the principal governmental and regulatory policies that govern the banking sector?

  • 2.

    Summarise the primary statutes and regulations that govern the banking industry.

  • 3.

    Which regulatory authorities are primarily responsible for overseeing banks?

  • 4.

    Describe the extent to which deposits are insured by the government. Describe the extent to which the government has taken an ownership interest in the banking sector and intends to maintain, increase or decrease that interest.

  • 5.

    Which legal and regulatory limitations apply to transactions between a bank and its affiliates? What constitutes an ‘affiliate’ for this purpose? Briefly describe the range of permissible and prohibited activities for financial institutions and whether there have been any changes to how those activities are classified.

  • 6.

    What are the principal regulatory challenges facing the banking industry?

  • 7.

    Are banks subject to consumer protection rules?

  • 8.

    In what ways do you anticipate the legal and regulatory policy changing over the next few years?

  • 9.

    How are banks supervised by their regulatory authorities? How often do these examinations occur and how extensive are they?

  • 10.

    How do the regulatory authorities enforce banking laws and regulations?

  • 11.

    What are the most common enforcement issues and how have they been addressed by the regulators and the banks?

  • 12.

    In what circumstances may banks be taken over by the government or regulatory authorities? How frequent is this in practice? How are the interests of the various stakeholders treated?

  • 13.

    What is the role of the bank’s management and directors in the case of a bank failure? Must banks have a resolution plan or similar document?

  • 14.

    Are managers or directors personally liable in the case of a bank failure?

  • 15.

    Describe any resolution planning or similar exercises that banks are required to conduct.

  • 16.

    Describe the legal and regulatory capital adequacy requirements for banks. Must banks make contingent capital arrangements?

  • 17.

    How are the capital adequacy guidelines enforced?

  • 18.

    What happens in the event that a bank becomes undercapitalised?

  • 19.

    What are the legal and regulatory processes in the event that a bank becomes insolvent?

  • 20.

    Have capital adequacy guidelines changed, or are they expected to change in the near future?

  • 21.

    Describe the legal and regulatory limitations regarding the types of entities and individuals that may own a controlling interest in a bank. What constitutes ‘control’ for this purpose?

  • 22.

    Are there any restrictions on foreign ownership of banks?

  • 23.

    What are the legal and regulatory implications for entities that control banks?

  • 24.

    What are the legal and regulatory duties and responsibilities of an entity or individual that controls a bank?

  • 25.

    What are the implications for a controlling entity or individual in the event that a bank becomes insolvent?

  • 26.

    Describe the regulatory approvals needed to acquire control of a bank. How is ‘control’ defined for this purpose?

  • 27.

    Are the regulatory authorities receptive to foreign acquirers? How is the regulatory process different for a foreign acquirer?

  • 28.

    What factors are considered by the relevant regulatory authorities in an acquisition of control of a bank?

  • 29.

    Describe the required filings for an acquisition of control of a bank.

  • 30.

    What is the typical time frame for regulatory approval for both a domestic and a foreign acquirer?

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White & Case is an international law firm that serves companies, governments and financial institutions. We have approximately 2,100 lawyers, including US–, UK– and local–law qualified lawyers, providing legal services in the following areas: Antitrust/Competition, Asset Finance, Banking, Capital Markets, Commercial Litigation, Construction, Data, Privacy & Cybersecurity, Employment, Compensation & Benefits, Environment & Climate Change, Financial Restructuring and Insolvency, Intellectual Property, International Arbitration, International Trade, Islamic Finance, Mergers & Acquisitions, National Security, Project Finance, Regulatory & Compliance, Sourcing & Technology Transactions, Tax and White Collar/Investigations.

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