In this program, attorney Kathleen Scott, senior counsel at Norton Rose Fulbright, discusses how and why non-U.S. banks establish operations in the United States. Here, she addresses the entry process by which non-U.S. banks enter the United States as well as permissible activities and powers of U.S. offices of non-U.S. banks. Ms. Scott also outlines the variety of administrative enforcement actions such an office might face and discuss the process banks undergo to exit the United States, whether voluntarily or involuntarily. Additionally, Ms. Scott will provide a checklist for attorneys to use when speaking with their non-U.S. clients on operating in the United States.
Kathleen A. Scott is a senior counsel in the New York office representing some of the world's largest international banks and other financial institutions concentrating on a broad range of financial services regulatory, anti-money laundering and privacy matters.
She represents financial institution clients with respect to the bank regulatory aspects of mergers and acquisitions, establishment of new banking organizations and nonbanking affiliates, and other transactions. Kathleen also advises U.S. and non-U.S. banks, bank holding companies and other financial institutions on a broad range of federal and state regulatory issues affecting all their operations and interacts routinely with federal and state banking regulators. She has expertise regarding U.S. federal and state banking laws and regulations regarding banks as well as nonbank financial companies that might require licensing at the state level.
In addition, Kathleen counsels financial institutions facing enforcement or other supervisory actions or investigations by state and federal regulators on their compliance with federal consumer, privacy and anti-money laundering legislation and regulations. More specifically, she handles compliance with the Gramm-Leach-Bliley Act for banks and other financial institutions and related financial privacy and information security matters. She also uses her regulatory expertise to advise financial institutions on a broad range of anti-money laundering compliance and enforcement issues.
She also is a member of the firm's global financial technology practice, advising on the U.S. financial services regulatory aspects of cryptocurrencies, the blockchain and smart contracts
Kathleen began her career as an attorney for the United States Department of Treasury and also served as an assistant counsel for the New York State Banking Department before going into private practice at two other major law firms in New York before joining Norton Rose Fulbright.