Elizabeth T. DavyPartner
Beth Davy is a partner in the Financial Services and Financial Services Litigation and Investigations Groups and is co-head of the AML & Sanctions Enforcement and Compliance Group. Her practice focuses on bank regulation and supervision, regulatory enforcement matters and internal investigations.
Ms. Davy is widely recognized as a leading expert in the areas of anti-money laundering and OFAC sanctions compliance and enforcement. She has represented numerous financial institutions in high profile global investigations involving multiple U.S. government agencies, as well as public and non-public regulatory enforcement matters.
Ms. Davy has worked with trade associations and industry representatives on establishment of industry standards and guidelines in the AML and sanctions compliance area and in the evolution of heightened transparency in the international payments system. She is a frequent speaker on issues relating to AML and sanctions.
Ms. Davy was a senior officer of the Federal Reserve Bank of New York’s Legal Department and Bank Supervision Group involved in regulatory and enforcement matters. While at the Federal Reserve, Ms. Davy served as Secretary to the Financial Markets Lawyers Group.
Ms. Davy also served as Deputy Superintendent and Counsel of the New York State Banking Department from 1991 to 1994.
Recent Speaking Engagements
- On February 14, 2018, Ms. Davy participated in a webinar titled “Practical Matters: FinCEN CDD Rule” presented by Bloomberg for Enterprise.
- On December 6, 2016, Ms. Davy participated in a panel titled “Identifying the Beneficial Owners of an Entity: Applying the 50% Rule and Ownership Nuances Across Sanctions Regimes” as part of American Conference Institute’s 7th Annual New York Forum on Economic Sanctions, held in New York.
- On May 10, 2016, Ms. Davy co-hosted an all-day conference with the Royal United Services Institute titled “The Role of Public/Private Partnerships in Tackling Financial Crime,” addressing collaboration in combating money laundering and fighting other financial crimes.
Rankings and Recognitions
- The Best Lawyers in America – recognized in Banking Law (2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018)
- New York Super Lawyers – recognized as a Top Woman Attorney in New York (2016, 2017) and in Banking Law (2007, 2008, 2011, 2012, 2014, 2015, 2016, 2017)
- The Legal 500 United States – recognized in Financial Services: Regulatory (2012, 2013, 2014, 2016, 2017, 2018)
- ABN AMRO Bank, Barclays, ING Group, Lloyds TSB Bank, Standard Chartered Bank, HSBC Group and BNP Paribas in the resolution of multiagency criminal and regulatory investigations relating to their compliance with economic sanctions and/or anti-money-laundering regulations.
- Citigroup and JP Morgan in resolving regulatory enforcement actions brought by the Federal Reserve and OCC to address BSA/AML compliance program deficiencies.
- Standard Chartered Bank in a regulatory settlement with the New York State Department of Financial Services related to anti-money laundering compliance
- Wachovia Bank in a $110 million deferred prosecution agreement with the Department of Justice, a civil resolution with FinCEN, and a $50 million civil money penalty with the Office of the Comptroller of the Currency, related to anti-money laundering compliance in Wachovia’s correspondent banking business