1. Allocate the time of the oral presentation so that the
principals can describe the matter, the reasons for action, and the
resulting benefits or harm. The agency knows the attorney can do so
but appreciates hearing from the regulated entity itself, ideally
the principals of the regulated entity.
2. Cutting and Pasting is now a tool used by everyone. However, the
burden is on you to review and double check that the entire
document accurately and completely reflects the transaction and
involved parties before filing with a regulatory agency.
3. Present the agency with a sound legal theory to consider.
Arguments solely along the lines of "Isn't it fair";
"Who does it hurt"; or" You are the Commissioner-you
can do it " are not winning arguments.
4. "If it isn't written down it never happened."
Regulators change, examiners leave, even General Counsels retire
and record retention schedules are adhered to. If it is important,
sets a precedent or is a novel matter-memorialize the facts and
conclusion. That fact pattern or something similar could be raised
again.
5. Regulatory agencies are very busy places. The Division of Banks
has responsibility for, among other things, the examination and
supervision of banks, credit unions, twelve different types of
licensees, Legislative matters and regulations, as well as consumer
assistance cases. Help yourself and the regulatory agency by making
any presentation complete, well documented, supported and detailed
to the issue at hand and your institution and as concise as
possible.
This article is for information purposes only and should not be construed as legal advice on any specific facts or circumstances. Under the rules of the Supreme Judicial Court of Massachusetts, this material may be considered as advertising.
