Banks are reconsidering their compliance policies in light of federal guidance issued this month clarifying how prosecutors should build white-collar crime cases against corporations and their employees, according to sources.
A new policy directing civil and criminal attorneys to collaborate earlier when investigating violations by corporate employees will likely expedite related penalties by the U.S. Treasury Department and other regulators.
A recent regulatory penalty citing a Brown Brothers Harriman executive made a compliance director at Bank of America wonder about his future personal liability, attendees of a business forum heard Tuesday.
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