On March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank, Santa Clara, CA (SVB) and appointed the Federal Deposit Insurance Corporation (FDIC) receiver of SVB. To protect depositors, the FDIC transferred all the deposits and substantially all assets of SVB to Silicon Valley Bridge Bank, National Association (SVBB), a full-service bank operated by the FDIC. 

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Tags: banking and financial services, bankruptcy, corporate, financial regulatory and compliance, FRAC, GT Insight, Labor & Employment, private equity, real estate
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Photo of Barbara A. Jones Barbara A. Jones

Barbara A. Jones is Co-Managing Shareholder of the firm’s Los Angeles office and a member of the firm’s Global Corporate practice. Barbara serves as Chair of the firm’s interdisciplinary Blockchain & Digital Assets practice. Barbara maintains a diverse corporate and securities law practice

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Barbara A. Jones is Co-Managing Shareholder of the firm’s Los Angeles office and a member of the firm’s Global Corporate practice. Barbara serves as Chair of the firm’s interdisciplinary Blockchain & Digital Assets practice. Barbara maintains a diverse corporate and securities law practice across industry groups, emphasizing complex international and domestic transactions, including private and public financings, dual listings, mergers and acquisitions, strategic collaborations and joint ventures, and licensing transactions. She serves as a trusted advisor to public and private company boards of directors on governance matters and complex regulatory reporting and compliance issues. Barbara’s clients include financial institutions, private equity and venture capital groups, and public and private companies in emerging technology, life sciences and biotechnology, defense and security, blockchain and digital assets, telecommunications, information technology, energy (traditional and renewable), mining, media, entertainment and sports. Barbara also represents Olympic and professional athletes and sports-related organizations.

Barbara practiced U.S. law in London from 1990 through 1997 with Sullivan & Cromwell, LLP, and headed the international capital markets practice of Kirkland & Ellis LLP from 1999 to 2003 before relocating to Boston. From 1997 to 1999, she served as Vice-President, Assistant General Counsel and Regional Counsel for capital markets with J.P. Morgan Securities Ltd. in Europe, the Middle East and Africa. Since returning to the U.S., she has continued to actively represent public and private companies, private equity groups and investment banks in the European, Scandinavian, African and greater Asian markets, including China.

Barbara is a past chair of the ABA’s Subcommittee on International Securities Matters. She is a frequent speaker at conferences relating to cross-border securities matters, strategic alternatives, and digital asset structures. She serves on the Government of Bermuda’s Global FinTech Advisory Board.

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Photo of Marina Olman-Pal Marina Olman-Pal

Marina Olman-Pal, Co-Chair of the firm’s Financial, Regulatory & Compliance Practice, advises foreign and U.S. financial institutions on a broad range of regulatory matters including licensing, acquisitions, divestitures, compliance with Bank Secrecy Act (BSA)/anti-money laundering (AML) laws and regulations, and compliance with Office…

Marina Olman-Pal, Co-Chair of the firm’s Financial, Regulatory & Compliance Practice, advises foreign and U.S. financial institutions on a broad range of regulatory matters including licensing, acquisitions, divestitures, compliance with Bank Secrecy Act (BSA)/anti-money laundering (AML) laws and regulations, and compliance with Office of Foreign Assets Control (OFAC) sanctions programs. Marina counsels a wide range of companies in the financial services sector including, domestic and foreign banks, gaming companies, money services businesses including money transmitters, cryptocurrency businesses, Fintech companies and digital payment companies. Throughout her career, Marina has represented clients before U.S. regulators such as the Federal Reserve, OCC, FDIC, FinCEN, OFAC, the Florida Office of Financial Regulation and other state supervisory authorities. Marina also regularly develops anti-money laundering programs for a wide range of financial services businesses and non-financial services businesses including, U.S. and foreign companies active in industries such as real estate, hospitality, automotive and artificial intelligence, among many others.

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Photo of Hilary R. Sledge-Sarnor Hilary R. Sledge-Sarnor

Hilary R. Sledge-Sarnor represents businesses and financial institutions in a range of legal matters. Hilary has over 15 years of experience representing financial institutions, corporate borrowers, funds and fund sponsors in a broad range of syndicated cross-border and domestic financings. Hilary is experienced…

Hilary R. Sledge-Sarnor represents businesses and financial institutions in a range of legal matters. Hilary has over 15 years of experience representing financial institutions, corporate borrowers, funds and fund sponsors in a broad range of syndicated cross-border and domestic financings. Hilary is experienced in a wide range of industries, including technology, fund finance retail and entertainment. She regularly provides counsel on secured transactions and UCC Article 9.

Read more about Hilary R. Sledge-SarnorHilary R.'s Linkedin Profile
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Photo of Mark D. Shaffer Mark D. Shaffer

Mark Shaffer advises U.S. and foreign financial institutions, broker-dealers, cryptocurrency businesses, fintech companies, and digital payment companies on a broad range of regulatory and compliance matters relating to SEC regulations, FRB and other banking regulations, FINRA rules, and Bank Secrecy Act (BSA)/anti-money laundering

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Mark Shaffer advises U.S. and foreign financial institutions, broker-dealers, cryptocurrency businesses, fintech companies, and digital payment companies on a broad range of regulatory and compliance matters relating to SEC regulations, FRB and other banking regulations, FINRA rules, and Bank Secrecy Act (BSA)/anti-money laundering (AML) laws and regulations. He frequently helps clients understand how such laws and regulations map onto new technologies and innovative products.

Mark assists financial institutions, their employees, and associated persons to respond to regulatory examinations and inquiries and provides effective representation in a range of enforcement proceedings. Mark has handled enforcement matters involving issues relating to currency and equities market manipulation, collusion, insider trading, money laundering, OFAC sanctions, false statements, and accounting fraud. Throughout his career, Mark has represented clients before the U.S. Department of Justice and regulators such as the SEC, CFTC, Federal Reserve, FinCEN, OFAC, and the New York State Department of Financial Services.

Mark has assisted multiple banking entities in resolving MRAs and MRIAs, and in developing and implementing compliance programs and regulatory remediation plans. Mark also assists companies in staying current on material changes to applicable laws, rules and regulations, and helps to develop or amend their policies, procedures, controls, compliance manuals and related training.

Prior to joining the firm, Mark practiced at two large law firms in Washington, D.C. and served as an in-house counsel and compliance officer at a variety of global financial institutions. Mark clerked for Judge Richard L. Nygaard of the United States Court of Appeals for the Third Circuit.

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Photo of Claudio J. Arruda Claudio J. Arruda

Claudio J. Arruda advises domestic and international financial services firms and institutions, including banks, broker-dealers, Fintech companies, and investment advisory firms on a broad range of regulatory issues, as well as general corporate matters. He represents these institutions on matters related to the…

Claudio J. Arruda advises domestic and international financial services firms and institutions, including banks, broker-dealers, Fintech companies, and investment advisory firms on a broad range of regulatory issues, as well as general corporate matters. He represents these institutions on matters related to the applicability and compliance with state and federal banking, and consumer laws and regulations.

Claudio also advises a wide range of investment advisers on all aspects of securities regulatory compliance, particularly including new and existing SEC rules, and has experience advising clients on corporate governance and general corporate matters.

In addition, Claudio represents public and private corporations in negotiating cross-border financing projects. He also has experience assisting in securities enforcement matters and FCPA-related investigations at the U.S. Securities and Exchange Commission (SEC).

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Photo of Gloria Melunis Gloria Melunis

Gloria R. Melunis focuses her practice on the investment servicing and investment management industries, advising broker-dealers, investment managers, asset servicing providers, and fund complexes on wide-ranging regulatory and transactional matters.

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