Sullivan & Cromwell is widely recognized as having the premier Financial Services practice in the United States, advising clients around the world on important compliance matters in the advisory, transactional, litigation and enforcement contexts. We have also developed a leading compliance practice for emerging financial service providers and FinTech companies using blockchain and other technologies.
The Firm handles vital compliance matters outside the financial services field, including for clients facing court-ordered decrees. In addition, we continue to be a thought leader on public policy matters relating to financial services, including through our longstanding representation of the nonpartisan Bank Policy Institute on laws, regulations and legislation.
Our recent achievements and projects in this area include:
- advising Wells Fargo on compliance matters as it negotiated settlements and a deferred prosecution agreement with enforcement officials over its past sales practices;
- steering Volkswagen to the successful conclusion of a three-year independent audit of its compliance with two court-ordered consent decrees arising from its diesel emissions issues;
- advising Betterment, the largest independent digital financial advisor, on its partnerships with banks to provide banking products;
- advising groups of banks in exploring the creation of anti-money laundering and “know your customer” industry utilities to enhance compliance with federal and state regulations; and
- advising financial institutions on the Federal Reserve’s final rule for determining “control” involving banking organizations, including its application to existing and new investments.
Recent Thought Leadership
Litigation partner Brendan Cullen and special counsel Tony Lewis discuss key considerations for companies in building and sustaining an effective compliance program.
To learn more about our compliance practices, contact Mitch Eitel or Sharon Cohen Levin.