Following the crash of 2008 financial firms have come under increasing scrutiny, risking more significant fines and greater reputational damage for any wrongdoing. As prosecutors and regulators seek to support firms to improve their systems and compliance they have been requiring them to appoint monitors to check on their progress as part of a settlement.

In particular events, such as M&As and system conversions, fees and interest rates can unintentionally vary from those stated in customer agreements and disclosures. We often help financial institutions to identify incorrect management or service fees, or inaccurate interest calculations. When detected, we assist firms in taking corrective action, such as remediation and self-disclosure to regulators and preventative action, such as updating system controls to ensure compliance

For further information please contact Linda Bertolissio or Riina Rintanen.