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The Volcker Rule 2016: What it Means for Financial Institutions and Markets

 
Author(s): Derek M. Bush, William J. Sweet
Practice Area: Banking, Corporate & Securities
Published: May 2016
ISBN: 9781402426896
PLI Item #: 148794
CHB Spine #: B2252

Derek M. Bush’s practice focuses on advising domestic and international financial institutions and foreign sovereigns regarding U.S. bank regulatory matters and legislation. His advisory practice spans a wide range of matters, including new regulatory requirements imposed under the Dodd-Frank Act, restructurings, corporate governance and investments by and in banking organizations. Mr. Bush’s practice also includes representing financial institutions in connection with corporate transactions, including mergers and acquisitions, asset sales, privatizations, capital markets transactions, joint ventures and strategic alliances. He also advises financial institutions and their boards of directors, employees and shareholders in internal investigations and in enforcement proceedings involving the U.S. federal banking agencies. In his advisory, corporate and enforcement practices, Mr. Bush represents clients before the Federal Reserve Board, Federal Reserve Banks, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the New York Department of Financial Services. 

Mr. Bush is distinguished as one of the leading financial services regulation lawyers by Chambers Global, Chambers USA, The Legal 500 U.S., The Best Lawyers in America and IFLR 1000: The Guide to the World’s Leading Law Firms and recognized in Law Business Research’s The International Who’s Who of Banking Lawyers. In addition, Mr. Bush was selected as Best Lawyers’ 2014 Washington, D.C. Banking and Finance Lawyer of the Year and is listed as one of the Best Lawyers for financial services by Washingtonian magazine.

Mr. Bush is a frequent speaker on regulatory and corporate matters affecting banks and other financial institutions. His recent publications include “U.S. Regulation of International Activities of U.S. Banking Organizations” in Regulation of Foreign Banks (2012), “Resolution Planning and the Volcker Rule” in The Banker’s How to Run a Bank (2012) and ”FSOC Reproposes the Nonbank SIFI Designation Rule” in BNA’s Securities Regulation & Law Report (2011). Mr. Bush is a co-author of the Guide to Bank Underwriting, Dealing & Brokerage Activities (West, 18th ed., 2013).

Mr. Bush joined the firm in 1995 and became a partner in 2003. He received a J.D. degree, with honors, from the University of Chicago, where he was an editor of the Law Review. He received an undergraduate degree, cum laude, from Princeton University in 1989. From 1994 to 1995, Mr. Bush served as law clerk to the Honorable Emilio M. Garza of the U.S. Court of Appeals for the Fifth Circuit.

Mr. Bush is a member of the Bar in the District of Columbia. His native language is English, and he speaks Spanish and Swedish.


William J. Sweet, Jr. is head of Skadden’s Financial Institutions Regulation and Enforcement Group and concentrates in financial institution merger and acquisition, regulatory, and enforcement matters. Before joining the firm, he was a staff attorney with the Federal Reserve Board, where he handled bank holding company regulatory, litigation and enforcement matters. 

Mr. Sweet represents U.S., Asian, European and Latin American banking, securities and other financial institutions and their boards of directors on the strategic, policy and regulatory aspects of mergers and acquisitions, negotiated investments, joint ventures, restructuring transactions, bankruptcies and receiverships. He also advises private equity firms and others seeking to invest in regulated financial institutions.
In addition, Mr. Sweet regularly advises financial institutions on compliance and enforcement issues with respect to a broad range of governance, risk management, money laundering compliance, Office of Foreign Assets Control sanctions, fair lending, consumer, CRA and other matters, including representation before federal and state regulatory and enforcement agencies. 

He represents financial institutions before the Financial Stability Oversight Council, the Federal Reserve Board, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation (FDIC), the U.S. Department of the Treasury and other financial regulatory agencies on a wide range of rulings, interpretations and approvals.

Mr. Sweet was recognized as one of the “Most Influential Lawyers” in finance and capital markets by The National Law Journal in 2011. He has been named as a “star individual” in the Financial Services Regulation — Banking Compliance category and ranked in the top tier in the Financial Services Regulation — Financial Institutions M&A area by Chambers USA. Mr. Sweet also has been ranked as a “star individual” for Banking & Finance: Mainly Regulatory in Chambers Global. According to Chambers USA, “he is considered to be one of the world’s leading banking lawyers and has been instrumental in advising a number of the firm’s leading financial services clients in relation to Dodd-Frank, regulatory compliance and transactions.” 

He also has been listed in The Best Lawyers in America, Euromoney’s Guide to the World’s Leading Banking Lawyers, IFLR1000, The Legal 500 U.S. and The International Who’s Who of Banking Lawyers. Mr. Sweet was named Best Lawyers’ 2015 “Washington, D.C. Banking and Finance Lawyer of the Year” and he was included in Washingtonian Magazine’s 2013 “Best Lawyers” list. He writes on banking issues and appears frequently at seminars on financial institution mergers and acquisitions, regulatory issues and enforcement matters.