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In the face of turmoil and uncertainty, the world's major financial institutions continue to choose our team to help them manage their business, litigation and reputational risks and thrive in the new economic and regulatory climate. To our clients we are much more than litigators - we are business partners who have a stake in their success.
Litigation partners Michael Gertzman and Roberto Gonzalez discussed the impact and compliance demands of the New York Department of Financial Services' new Part 504 rule at a CLE program. This rule imposes a series of requirements for covered institutions' sanctions filtering and transaction monitoring programs. Michael and Roberto covered interpretive issues surrounding the rule, practical guidance on complying with the rule's requirements, and options for designing an annual certification process. The event, which was co-hosted by Paul, Weiss and EY, took place on November 1 in New York City.