Be aware of the rules and concepts for the transactions with affiliates requirements.
Many banks engage in transactions with their affiliates. Transactions with affiliates rules under Sections 23A and 23B of the Federal Reserve Act and Regulation W promulgated thereunder provide a framework for types of permissible transactions, applicable requirements and limitations on such transactions, as well as certain transactions that are prohibited altogether. Banks structuring any type of transaction with an affiliate - from a transfer of assets to the receipt of services - must comply with these regulatory requirements. Enforcement actions based on violations of the transactions with affiliates rules are not uncommon. To ensure that bankers and their lawyers are aware of these fundamental rules, this topic reviews the concepts of transactions with affiliates requirements, as well as developments and agency guidance imposed by the Dodd-Frank Wall Street Reform and Consumer Protection Act. Anyone involved on the legal or business side of structuring transactions between banks and their affiliates will benefit from this information.
Who Can Benefit from Affiliate Transaction Training?
The training is designed for anyone in the legal or financial field who wants to learn about affiliate transactions or is involved in creating company compliance processes and policies. You may find section 23b and section 23a training useful if you are:
- A vice president
- An attorney
- A branch manager
- A CFO
- A controller
- A president
- A credit and collection manager
- A loan officer
- An employee in a loan department
- A compliance officer
- An accountant
If you are starting in your career, section 23a and section 23b training can help you stay confident during the application process. If you are growing your career, this training may help you qualify for CLE and CPE credits. It can also help you develop the skills you need for pursuing new opportunities. Training also allows you to stay up-to-date with regulatory changes, so you can stay fully compliant.
If you’d like to know about the current types of covered transactions or the latest regulations regarding treatment of netting arrangements, credit exposure or other issues, section 23a and section 23b training can help. If you’re unsure about the exemptions for section 23a and section 23b or would like to know how to navigate exceptions, training can help you. Training may also be important if you are concerned about compliance or have had violations issues in the past.
If you are involved with affiliate transactions or creating a compliance policy at your organization, affiliate transaction training gives you the tools you need. With strong affiliate transaction training, you can master the regulatory understanding you need to stay compliant and help your organization move forward within the current regulatory framework.
Why Affiliate Transaction Training With Lorman Education Services?
As a busy professional, you may not have time in your schedule to travel to live training events or take part in scheduled online training. Lorman Education Services has developed affiliate transaction training you can access from any computer or mobile device, so you to train on your own time and at your own pace. With OnDemand training and other options available through Lorman Education Services, you can also review the material as needed, allowing you to develop a deeper understanding of affiliate transactions.
Lorman Education Services offers interactive training online, which allows you to learn with others and ask questions. You can contact the trainer and receive text-based materials to help you train. OnDemand and self-paced options are also available if you cannot attend scheduled online events.
By ordering an All-Access Pass, you gain access to all affiliate transaction training as well as related training for one full year. As new training is made available, you will be able to access it. As materials are updated, you can review it. In addition, you can review the training materials as often as you want for a full twelve months.
Training about affiliates is available in different formats, so you can study the way that suits you best. Whether you learn best in an interactive environment or through text or audio materials, Lorman Education Services offers the options you need. If you need in-person training for your whole team or custom solutions, contact Lorman Education Services for custom solutions.
Lorman Education Services works with the best minds in the legal and financial fields to bring you robust affiliate transaction training. As regulatory environments change, training material is updated to reflect the changes, so you stay current. Training is designed to be relevant to your field, so you are given the affiliate transaction information you need.
Since 1987, more than 1.4 million professionals in the legal, financial and other fields have turned to Lorman Education Services for their training needs. Sign up for an All-Access Pass to gain access to the affiliate transaction training and discover why more professionals turn to us.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
What Are Section 23A and Section 23B of the Federal Reserve Act and Regulation W Thereunder?
When Do These Statutes Apply?
Who Is and Who Is Not an Affiliate?
What Transactions Are Covered By, and What Transactions Are Exempt From, Section 23A and Section 23B?
What Are the Limits on Affiliate Transactions?
What Other Requirements Apply to Affiliate Transactions?
Recent Developments With the Transactions With Affiliate Requirements and How Changes Are Being Implemented
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on January 30, 2019.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Will C. Giles
White & Case LLP
- Counsel in the Global Financial Institutions Advisory Practice of White & Case LLP, based in the firm’s Washington, DC office
- Advises on a variety of financial regulatory matters involving the regulation of U.S. and non-U.S. banking organizations
- Extensive prior experience advising the Federal Reserve Board and its senior staff on a wide range of legal matters as a Special Counsel in the Board’s Legal Division, including matters involving the Federal Reserve Act and Regulation W
- Can be contacted at 202-637-6281 or [email protected]
Kevin L. Petrasic
Davis Wright Tremaine
- Partner and head of the Global Financial Institutions Advisory Practice of White & Case LLP, based in the firm’s New York and Washington, D.C., offices
- Advises national and international financial firms, including banks, securities brokerage and insurance firms, and other financial services providers, on a broad range of regulatory, legislative, transactional, and compliance issues under federal and state banking laws, including before the Federal Reserve Board, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation and the Consumer Financial Protection Bureau
- Extensive experience in Dodd-Frank compliance, bank/thrift and holding company regulation, credit card and consumer financial compliance laws, UDAAP issues, data privacy/protection, cybersecurity and data breach issues, compliance laws impacting payments systems, mergers and acquisitions, anti-money laundering issues and OFAC compliance, depository institution charter powers and activities, mortgage markets, and corporate governance
- Broad government experience, including serving as special counsel, managing director of external affairs, director of congressional affairs, legislative counsel, and assistant chief counsel at the U.S. Treasury Department’s Office of Thrift Supervision, as well as counsel to the former House Banking Committee
- Adjunct professor of banking law at the George Washington University Law School in Washington, D.C.
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