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| Roy C. Andersen Areas of Practice Roy Andersen has focused on bank regulatory and compliance matters for his entire career; starting at the Federal Reserve Bank of New York and continuing at major law firms and two international banks where he was General Counsel. His principal focus is on international banks and their branches and agencies in New York. He has formed these offices and drafted, filed, and supported the necessary applications. Upon establishment, he has advised these offices on the application of Federal and New York laws to their activities and operations. For over ten years, Roy was responsible for and worked closely with the large compliance teams at two foreign banks. This period coincided with the adoption in the United States of the USA Patriot Act with its intense focus on anti-money laundering and anti-terrorist financing restrictions. Roy has also drafted and negotiated loan documentation and advised on all manner of issues arising out of financial transactions, including lending limits, tying restrictions, the affiliate transaction rules contained in Sections 23A and B of the Federal Reserve Act, and Regulation W issues. Work for Clients While New York enjoyed a boom in bank licensing, Roy obtained dozens of licenses for international banks. In addition, he helped establish de novo domestic banking institutions, obtaining Federal and State licenses for commercial and thrift institutions. These entities required FDIC insurance and Roy filed for and obtained this coverage for each of his clients. Many of his clients were brokerage firms that were in the vanguard of the changes caused by the repeal of the Glass-Steagall Act and which were moving aggressively into the banking sphere. His advisory work focused on banking and securities products, including derivatives of various types, as well as commodities related products for major institutions. More regularly, however, Roy handled the ongoing legal needs of his clients, including loan agreements, letters of credit, employment contracts, real estate loans, and equipment leases. Most importantly, he was in many cases his clients’ principal regulatory representative and he handled many significant matters, including applications, examinations, investigations, and dispute resolutions. His clients have always relied on his extensive experience and long relationships with the regulatory authorities. Professional Activities Roy was an active member of the Institute of International Bankers' Legal and Regulatory Committee as well as the Compliance Officers' Committee. He has been a member of the Association of the Bar of the City of New York’s Banking Law Committee and the Banking Law Committee of the New York State Bar Association. He has, from time to time, contributed articles on new developments to banking publications, such as the Legal Times. Roy has participated in, and acted as the Chairperson of, programs presented by continuing legal education groups such as the Practicing Law Institute on bank acquisitions and acquisitions of investment advisory firms. Roy was an outside director of a Korean-owned community bank in New York City. Professional Experience Before forming Connell & Andersen, Roy was a partner at Rogers & Wells and Winston & Strawn. More recently, he was General Counsel at Fortis Bank in New York and the Head of Legal, Regulatory, Compliance, and Operational Risk at the Bank of Ireland. Education Boston College, B.A., magna cum laude Boston College Law School, J.D., cum laude |