Bloomberg BNA Publishes New Director and Officer Liability Deskbook

Bloomberg BNA has published Director and Officer Liability in Financial Institutions: A Deskbook, offering practitioners a guide to defend directors and officers against civil, criminal, and administrative proceedings by either governmental or private parties.

Director and Officer Liability in Financial Institutions: A Deskbook provides an understanding of the liability that may arise in the director and officer liability field, exploring what lawsuits have been filed seeking damages. It also analyzes whether criminal exposure exists, what criminal statutory provisions may be triggered by conduct at issue, and whether administrative agencies are likely to bring charges, triggering yet another area of liability.

The Deskbook explores recent developments that have created today’s climate of increased regulation and enforcement, and analyzes criminal, civil, and administrative cases relating to the existing financial crisis, including the mortgage-backed security litigation. In addition, it discusses areas unrelated to the financial crisis, including how each of the following areas impact directors and officers in the discharge of their duties:

  • The new Consumer Financial Protection Bureau (CFPB) and its role in policing unfair, deceptive, and abusive practices violations
  • The Safeguards Policies issued by the Federal Trade Commission, and likely agency initiatives geared toward directors and officers of financial institutions regarding privacy policies
  • Enforcement related to money laundering, including having appropriate policies in place directed to anti-money laundering activities, and the filing of suspicious activity reports

Director and Officer Liability in Financial Institutions: A Deskbook is a valuable resource for readers hoping to understand not only what the courts have ruled in recent instances of liability, but also the likelihood that agencies will bring a case. The Deskbook provides a particular focus on affirmative defenses and themes that have proven useful in defending against liability charges. This reference offers tips in defending cases and includes useful forms, such as an Indemnification Agreement and a Protective Order, an index and case table, and a table of state laws dealing with duties and responsibilities of directors and officers.

Director and Officer Liability in Financial Institutions: A Deskbook is authored by Samuel Rosenthal, who is chair of the Government Investigations and Litigation practice group at Patton Boggs LLP, and has represented individuals and entities in a range of white collar criminal matters, including matters involving D&O liability. Previously, Mr. Rosenthal served as the chief of the Appellate Section, Criminal Division, with the Department of Justice in Washington, D.C. He has argued cases in every federal circuit court of appeals in the United States. Mr. Rosenthal also has served as an Assistant U.S. Attorney in the District of New Jersey, and Associate Independent Counsel to the U.S. Senate in the Leaks Investigation. This treatise is available for sale directly from Bloomberg BNA and also will be available on the Bloomberg Law legal research system.