Top Ten Steps to Fast Tracking Your Bank’s Political Activity Compliance Plan

more+
less-
more+
less-

In today’s political climate, smart banks take a proactive approach to educating officers, employees and board members about political activity compliance. Just as a bank’s code of conduct addresses sexual harassment, privacy of customer information and customer relations, a bank’s code of conduct should address the dos and don’ts of political activity.

Since 1911, New Jersey banks have been subject to the regulated industry ban. The ban prohibits banks and their majority shareholders from making political contributions. Despite this prohibition, invitations for political fundraisers are likely crossing the desks of bank officers, employees and board members on a regular basis. Because these individuals have a First Amendment right to participate in the political process and may not be aware of the nuances of the regulated industry ban and pay-to-play restrictions, banks need to put protocols in place to assist compliance with the law.

Originally published in New Jersey Banker - Spring 2014.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Genova Burns LLC | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×
×