Cleary Gottlieb Steen & Hamilton is noted for its expertise in advising both US and international banks, handling matters tied to restructuring, asset management, and compliance with Bank Holding Company Act and Volcker Rule provisions, among others. The practice is also frequently sought out by clients facing regulatory and enforcement actions by the SEC and FINRA. It has been particularly active in advising clients on the implementation of Basel III “endgame” regulations, including regulatory advocacy and compliance guidance for major financial institutions and trade associations. Additionally, the team plays a key role in the ongoing overhaul of the US Treasury securities market, representing a wide range of banks and dealers in connection with SEC rule changes. Washington DC-based practice head Derek Bush offers extensive expertise in Dodd-Frank regulations, bank restructuring, and government investigations. In New York, Hugh Conroy focuses on structured finance and derivative transactions in addition to his work on Dodd-Frank, while Lauren Semrad, based in Washington DC, advises US and international financial institutions on US bank and bank holding company regulatory matters. Patrick Fuller, also in New York, handles bank licensing issues in addition to bank M&A.
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Testimonials
Collated independently by Legal 500 research team.
‘I have worked with Jim Burns and Brant Brown extensively. They have great knowledge of the law, great knowledge of the market, great understanding of the regulatory process, and great common sense. They are patient and skilled collaborators. ’
‘I've worked with Jim Burns and Brant Brown on a number of financial services issues in the context of proposed rulemakings. The work is complicated, done on demanding timelines, and the politics -- both within the impacted industry and at the regulatory agency -- are complicated. Especially when crafting trade associations submissions the need to balance diverse opinions in a way that keeps the ultimate goal in sight is challenging. Jim and Brant are exceptional at this. ’
Key clients
- ING
- BNP Paribas
- Citigroup
- Rabobank
- Deutsche Bank
- Goldman Sachs
- Standard Chartered
- Stripe, Inc
- American Express
- Banco Bilbao Vizcaya Argentaria S.A. (BBVA)
Work highlights
Advising several European, Canadian and Asian banks in connection with their submission of “resolution plans,” or “living wills” to the Federal Reserve and the FDIC.
Advising Institute of International Bankers (IIB), in writing comment letters and ongoing related advocacy, including meeting with senior regulatory agency officials, on (i) the Basel III endgame package, (ii) proposed long-term debt requirements, (iii) proposed resolution planning guidance for certain foreign filers and (iv) resolution plan deadlines.
Advising DTCC and its clearing agency subsidiary the Fixed Income Clearing Corporation on regulatory initiatives to reform the U.S. Treasury Market.
Lawyers
Hall of fame
The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.
Leading associates
Leading associates with regular involvement in their team's key work, and recognition from peers or clients as being ones to watch.
Patrick Fuller
Practice head
Derek Bush; James Burns; Brant Brown
Other key lawyers
Lauren Semrad; Patrick Fuller