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Compliance Companion®
Standard Procedures Manuals (SPM)
 

Managing Financial Institutions December 2023


BCG Standard Procedures Manual #17, Managing Financial Institutions, was updated in conjunction with the 2023 BCG Management and Directors Seminar. The Manual covers a broad range of topics about which all directors and senior management of insured financial institutions should be knowledgeable in order to protect and advance the important interests of their institutions. The text of this Manual is 1,067 pages, plus 73 pages of appendixes.


There are four main parts to this Manual. The main topics discussed in each part are listed below.

  • Part One – Corporate Activities
    • Standards of conduct for directors, including directors’ fiduciaries duties
    • Corporate governance and securities issues, including board diversity issues, Sarbanes-Oxley Act, banking regulations on corporate governance, annual meetings of shareholders, sale of bank securities and disclosure of year-end financial statements
    • Current expected credit losses (CECL) methodology and its impact on financial institutions
    • Business continuity planning
    • Investments and other activities, such as investment powers, derivatives, Volcker Rule, California public bank legislation, political activities, and other permissible bank activities
    • Regulatory capital and liquidity requirements
    • Tying arrangements
  • Part Two – Insider Transactions
    • Restrictions on transactions with affiliates
    • Compensation and indemnification of directors and officers
    • Conflicts of interest
    • Insider trading
    • Loans to executive officers, directors and principal shareholders
  • Part Three – Regulatory Compliance
    • CARES Act and COVID-related relief efforts
    • Compliance responsibilities and liabilities
    • Management commitment to and involvement in the compliance management system
    • Board of directors regulatory checklist
    • Consumer provisions of the Dodd-Frank Reform Act and the 2018 Regulatory Relief Act
    • Charter-based preemption
  • Part Four – Regulatory Enforcement Powers
    • Examination process for the different types of depository institutions, including each agency’s formal appeals procedures
    • Prompt corrective action rules
    • Restrictions on brokered deposits
    • Federal regulatory agencies’ administrative enforcement powers

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Compliance Companion® is a one-stop regulatory compliance resource for financial institutions. This online compilation of 19 industry-leading compliance manuals, including SPM #17, Managing Financial Institutions, takes the legalese out of federal and California laws and regulations, making it easier to understand and keep up with ongoing compliance developments.

Published by Aldrich & Bonnefin, PLC, Compliance Companion® has many useful features including search capabilities, links to internal cross-references and web-based sources, as well as samples of dozens of forms, disclosures and notices.

This compliance resource can also be accessed from your mobile device, making it faster and easier to get the latest information on federal and California laws and regulations governing financial institutions.

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SPM 17
* Janet Bonnefin is retired from the practice of law with the firm.
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