Debevoise Lawyers Matthew Biben and Meryl Holt Silverman Address Anti-Money Laundering Responsibilities for Bank Boards of Directors in New Guide

9 May 2019

Debevoise & Plimpton lawyers Matthew L. Biben and Meryl Holt Silverman have authored a chapter addressing anti-money laundering responsibilities for bank boards of directors in the newly released International Comparative Legal Guide to: Anti-Money Laundering 2019.

The chapter outlines the duties of directors of financial institutions and offers a roadmap for board members trying to navigate the basic anti-money laundering requirements and related risk indicators. Additionally, the chapter looks at the board’s role in enterprise risk management, including management of strategic and operational risks that implicate a bank’s business model and reputation.

The considerations set forth in the chapter have particular salience in the context of emerging—and potentially higher risk—sectors, such as cryptocurrency and marijuana. Emerging sectors may pose unique oversight and monitoring challenges.

Click here to read the full chapter.

Mr. Biben is a litigation partner, co-leader of the firm’s Banking Industry Group, and member of the firm’s White Collar & Regulatory Defense Group. His practice is focused on the expert negotiations and litigation of complex and diverse regulatory and enforcement matters on behalf of both individuals and organizations, with a concentration on matters related to financial institutions and complex situations involving the government.

Ms. Holt Silverman is a litigation associate and a member of the White Collar & Regulatory Defense Group. Her practice focuses on internal investigations, regulatory inquiries and complex civil litigation. She has briefed and argued cases in the Second Circuit and the Southern District of New York, as well as in the New York State Appellate Division, First Department and the New York State Supreme Court.

Debevoise & Plimpton is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.