Financial Services
With a deep understanding of both the regulatory and employment law landscapes, Littler has a unique ability to help our financial services clients manage complex employment law matters and mitigate employment-related risk.
To advise financial services companies effectively, employment lawyers must be familiar with the special regulatory requirements and challenges that confront financial services clients across the nation and internationally.
Your Strategic Partner
Littler represents a broad array of financial services organizations, including global and national banks (commercial, retail, and investment), broker-dealers, investment funds (including private equity and hedge funds), credit unions, insurance companies, stock and currency exchanges, fintech enterprises, and even self-regulatory organizations in their role as employers. With experience representing financial institutions around the world, we provide practical and strategic advice to C-suite executives and collaborate with our clients’ regulatory counsel to address the full spectrum of employment issues.
Littler understands the highly competitive and unique regulatory environment our financial services clients operate in, and we know that their reputation in the marketplace and with regulators and customers is of paramount importance. We help our clients deliver workplaces with high employee satisfaction and minimized litigation risk—where talented, highly sought after employees are supported in their efforts to deliver for the business.
Key Capabilities
Key Capabilities
Our team is well-positioned to help clients foster an engaged and productive workforce, while also complying with the myriad regulatory obligations employers in the financial services sector must navigate.
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Hiring practices
We advise on the many unique hiring process considerations for financial institutions, such as statutory disqualification screenings, enforcement and drafting of restrictive covenants, drug screenings and Form U-4/U-5 issues.
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Background checks
We routinely assist clients with creating protocols for compliance with complex background check requirements and with assessing individual results and evaluating their risk for the institution.
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Character and fitness protocols
We assist financial services institutions in drafting and reviewing character and fitness protocols that satisfy local and federal regulatory requirements.
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Workforce management
We guide financial institutions on performance management, required trainings, post-merger workforce integrations, and termination events, including exiting C-Suite executives, among other critical employment matters.
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Addressing whistleblower complaints
Our team defends and manages whistleblower lawsuits brought under the Dodd-Frank Wall Street Reform and Consumer Protection Act, Sarbanes-Oxley Act, and state whistleblower laws, including associated discrimination claims.
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Internal investigations
We carry out privileged internal investigations of sensitive claims of discrimination and retaliation, and help clients develop protocols for carrying out these investigations.
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Resolving regulatory matters
We frequently appear on behalf of our financial services clients in agency actions, as well as in state and federal court and Financial Industry Regulatory Authority (FINRA) arbitrations with tens of millions of dollars at stake.
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Audits and policies
We conduct SEC Rule 21F reviews of company confidentiality policies, pay equity audits, and audits for complaint-reporting procedures and hotlines, in addition to drafting Codes of Conduct and employee handbooks.
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Executive compensation
We routinely draft and defend bonus and incentive compensation plans, including equity plans. We also guide clients through domestic and international restrictions on compensation structures, from deferrals to clawbacks.
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Unique regulations for government contractors
Financial services companies increasingly contract with government agencies and face detailed regulatory requirements as a result. Littler has extensive experience in helping contractors comply with those requirements.
Industry Knowledge
Our attorneys closely monitor developments affecting the financial services industry and share timely insights through publications, speaking engagements, and client briefings. Members of our team have leading roles in key financial industry organizations, including the Institute of International Bankers and the American Bankers Association, along with the banking law committees of the American Bar Association, International Bar Association, and state bar associations.
“Financial institutions face significant scrutiny from regulators, lawmakers, and the public, and as such must contend with a diverse array of legal and reputational challenges. To effectively manage risks related to their workforces, organizations need advisors who not only understand the complexities of employment and labor law, but also have deep experience with the industry’s unique requirements.”
– Philip Berkowitz
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Littler’s premier employment and labor offering and robust financial industry knowledge offers an opportunity for clients in this space to maximize the value of their talent, address regulatory issues & stay ahead of compliance challenges.
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