Glen R. Cuccinello
Glen has extensive experience advising non-US banks on the establishment of US banking offices and acquisitions of US bank subsidiaries, along with the impact of US laws and regulations on their direct and indirect activities and investments and cross-border provisions. His practice includes advising on the impact of the Volcker Rule and other Dodd-Frank requirements on the activities of US and non-US banks, in addition to financial holding company activities and non-compliance issues.
Additionally, Glen counsels financial institutions on matters involving securities-related activities by banking institutions, regulatory issues affecting financing transactions, including margin regulations, reserve requirements, anti-money laundering requirements and anti-tying requirements, affiliate transaction restrictions under Sections 23A/23B and Regulation W, fiduciary and custody activities, insolvencies of depository institutions, and account agreements. He also advises on the regulatory aspects of mergers and acquisitions.
Glen has authored numerous insightful publications related to the legislative and regulatory challenges faced by financial institutions. Most notably, he is a key contributor to our Firm’s Coronavirus Financial Regulatory and Legislative Dashboard, which provides periodic updates and insights as the COVID-19 crisis and the response develop.
Select experience includes advising:
- a Chinese bank in acquiring a US subsidiary bank (the first transaction of its kind);
- Chinese and Taiwanese banks in establishing branches and upgrading existing offices in the United States;
- European and Asian banks in connection with their securities-related activities in the United States, including the provision of M&A advisory services on a cross-border basis;
- a private equity fund in connection with proposed acquisitions of equity stakes in US banks;
- a European bank and its domestic bank holding company subsidiary in connection with the US regulatory aspects of bank acquisitions and mergers;
- a European bank in structuring a financing transaction in light of the New York Banking Law's insolvency provisions;
- a domestic bank holding company in issuances of subordinated debt and trust preferred stock;
- an Asian bank in connection with the US regulatory aspects of its merger with another Asian bank, including the establishment of multiple branches in the United States;
- an Asian bank in a US supervisory enforcement matter;
- an Asian bank in connection with the liquidation of its New York trust company subsidiary;
- an Asian bank in connection with the downgrading of its US branch to representative office status; and
- a US investment adviser in establishing a New York trust company subsidiary.
"Regulators' Preemption Scuffle Offers Opportunities for Financial Services," Bloomberg Law, August 2020
"Regulators begin Volcker Rule review, signaling potential for needed clarifications," November 2017
"Valuations in European Real Estate Finance – regulatory compliance in a global environment," June 2017
"US Terminates Burma Sanctions Program, Accompanied by Limited FinCEN Relief," October 2016
"Federal Reserve Board Proposes to Include Legal Entity Identifiers in Certain Banking Organization Reporting," March 2015
"Federal Bank Supervisory Agencies May Change Guidance Without Notice-and-Comment Rulemaking," March 2015
"Clarification of the Marketing Restriction under the Volcker Rule 'SOTUS' Covered Fund Exemption," March 2015
"ICBC's Agreement to Acquire a Controlling Stake in a US Bank Is a Major Development for the US and Chinese Banking Markets," February 2011
"FDIC Adopts Final Policy On Private Equity Investments In Failed Banks," August 2009
"FDIC Proposes Stringent New Rules For Private Equity Investors In Failed Depository Institutions," July 2009
"The Troubled Asset Relief Program: Issues for Financial Institutions and Other Entities Covered by the TARP," October 2008