Cases & Deals

Former Chief Compliance Officer defends allegation he violated Bank Secrecy Act

Clients Former Chief Compliance Officer

Jones Day defended the former Chief Compliance Officer of one of the ten largest banks in the United States for violations of the Bank Secrecy Act. The case was pursued by the SDNY and multiple regulatory agencies, including FinCEN, the OCC, and the Federal Reserve Bank. In addition, Jones Day convinced a Directors' and Officers' insurer to afford coverage for an individual client's $400,000 fine imposed by a financial institution regulator following regulatory proceedings against the bank itself.