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Arthur S. Long

Arthur
Long

Partner

CONTACT INFO

along@gibsondunn.com

TEL:+1 212.351.2426

FAX:+1 212.351.6256

New York

200 Park Avenue, New York, NY 10166-0193 USA

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PRACTICE

Financial Institutions Derivatives Global Financial Regulatory Securities Regulation and Corporate Governance

BIOGRAPHY

Arthur S. Long is a partner in the New York office of Gibson, Dunn & Crutcher, where he is a member of Gibson Dunn’s Financial Institutions and Securities Regulation Practice Groups.  Mr. Long focuses his practice on financial institutions regulation, advising on the regulatory aspects of M&A transactions; bank regulatory compliance issues; Dodd-Frank issues, including the regulation of systemically significant financial institutions (SIFIs) and related heightened capital and liquidity requirements; resolution planning; and Volcker Rule issues with respect to bank proprietary trading and private equity and hedge fund operations.

In addition, Mr. Long has significant experience with bank securities offerings and issues particular to foreign banks operating or seeking to operate in the United States.  He also counsels fintech companies on regulatory issues relating to their businesses, and advises on regulatory matters relating to virtual currencies and blockchain technology.

Mr. Long is ranked as a leading lawyer in Banking and Financial Services Regulation by Chambers USA:  America’s Leading Lawyers for Business and IFLR1000.  Chambers describes Mr. Long as “an outside-the-box thinker” and “a relentless worker” who is “careful and creative with difficult issues in both financial services law and corporate law.”

Among Mr. Long’s publications are The Financial Services Regulation Deskbook, the Practising Law Institute treatise on the Dodd-Frank Act, and “The New Autarky?  How U.S. and UK Domestic and Foreign Banking Proposals Threaten Global Growth,” a Policy Analysis of The Cato Institute.

At Gibson Dunn, in addition to counseling both non-U.S. and U.S. financial institutions on financial regulatory compliance issues, Mr. Long has advised on such publicly disclosed transactions as:

  • Wealthfront Corp.’s sale to UBS AG in an all-cash $1.4 billion transaction
  • The acquisition of ONE Finance Inc. by Hazel, the Walmart-Ribbit Capital joint venture
  • The $2 billion merger between Motive Capital Corp. and Forge Global,  Inc.
  • GE Capital’s sale of its retail bank deposit program to Goldman Sachs, the first expansionary transaction by a global systemically important bank (G-SIB) since the Financial Crisis;
  • Grupo Financiero Ficohsa’s purchase of Citigroup’s banking and credit card operations in Honduras and Nicaragua; and
  • Green Dot Corporation’s acquisition of the Santa Barbara Tax Products Group, a provider of tax-related financial products.

Prior to joining Gibson Dunn, Mr. Long practiced with Davis Polk & Wardwell LLP for 16 years.  During the Financial Crisis, he provided advice in connection with:

  • The Federal Reserve Bank of New York’s emergency loan to American International Group, Inc.;
  • Her Majesty’s Treasury’s plan to provide support to the U.K. banking system, including obtaining relief from the U.S. Bank Holding Company Act for the U.K.-government controlled company that was the majority shareholder of The Royal Bank of Scotland Group plc and Lloyds Banking Group plc;
  • Morgan Stanley’s becoming a bank holding company and conforming its global operations to the Bank Holding Company Act; and
  • Citigroup’s proposed rescue of Wachovia Corporation and FDIC assistance.

Mr. Long advised Banco Santander, S.A. in connection with its acquisition of Sovereign Bancorp, Inc., which resulted in protested applications to the Federal Reserve Board, the Office of Thrift Supervision and the New York State Banking Department.  He also advised one of the first-round filing international banks on its resolution plan required by Section 165 of the Dodd-Frank Act.

Mr. Long served as law clerk to U.S. Supreme Court Justice Clarence Thomas from 1997 to 1998, and to Judge J. Michael Luttig of the U.S. Court of Appeals, Fourth Circuit from 1993 to 1994.  In 1993, he graduated magna cum laude from Harvard Law School, where he served as the Supreme Court Editor for the Harvard Law Review.  He received his A.B. magna cum laude from Harvard College in 1989.

EDUCATION

Harvard University - 1993 Juris Doctor

Harvard University - 1989 Bachelor of Arts

ADMISSIONS

New York Bar

RECENT PUBLICATIONS

Client Alert - March 10, 2022 | The Biden Administration’s Digital Assets Executive Order and Its Implications
Article - January 27, 2022 | Virtual Currencies and Innovation in the Dual Banking System
Client Alert - November 4, 2021 | Bank Regulation for Stablecoins – President’s Working Group on Financial Markets Issues Stablecoin Report
Client Alert - October 20, 2021 | Digital Asset Developments: U.S. Commodity Futures Trading Commission Asserts That Tether Is a Commodity
Client Alert - September 27, 2021 | The U.S. Comptroller of the Currency Nominee and Her Writings: What They Mean for Banks and Fintechs
Article - May 28, 2021 | UK independent review of post-financial crisis proprietary trading rules — an opportunity for reform?
Client Alert - May 21, 2021 | Digital Currency Developments: Acting Comptroller Orders Review of Recent Decisions and FDIC Issues Information Request
Client Alert - April 21, 2021 | New York Department of Financial Services Finalizes Confidential Supervisory Information Regulation
Client Alert - April 8, 2021 | New York Adopts LIBOR Legislation
Client Alert - March 9, 2021 | The End Is Near: LIBOR Cessation Dates Formally Announced
Client Alert - March 3, 2021 | Risk, Risk and More Risk: Federal Reserve Finalizes Its Supervisory Guidance on Board of Directors’ Effectiveness
Client Alert - February 24, 2021 | Cryptocurrency Developments: Office of Foreign Assets Control’s Recent Enforcement Cases Against Digital Asset Firms
Client Alert - February 16, 2021 | The Biden Administration: New Priorities in the Banking, Fintech and Derivatives Sectors
Client Alert - January 25, 2021 | Virtual Currency/Fintech Update: OCC Approves Anchorage Trust’s Charter Conversion and Expands the General Fiduciary Powers of National Banks
Article - January 8, 2021 | Financial Policy in the Incoming Biden Administration: What Can We Expect?
Client Alert - January 4, 2021 | Federal Regulators Propose Rule Requiring Banking Institutions and Service Providers to Provide Rapid Notification Following Significant Computer-Security Incidents
Client Alert - December 1, 2020 | Proposal to Publish LIBOR Beyond 2021
Client Alert - November 30, 2020 | Throwing Down the Gauntlet on Politics and Banking: Office of the Comptroller of the Currency Proposes “Fair Access” Rule
Client Alert - October 28, 2020 | The U.S. Dual Banking System on the Eve of the Election: Fintechs, Preemption, Judicial Deference, and National Trust Banks
Article - October 23, 2020 | After a Decade, What is Settled About Dodd-Frank?
Client Alert - October 13, 2020 | California Enacts New Consumer Financial Protection Law, Increasing Authority of Its Financial Regulator
Client Alert - September 29, 2020 | Cryptocurrency Developments: Comptroller of the Currency Affirms That National Banks May Hold Stablecoin Reserves
Client Alert - September 22, 2020 | Developments in the U.S. Banking Regulators’ Treatment of Confidential Supervisory Information
Client Alert - July 7, 2020 | Dodd-Frank 2.0: Agencies Finalize Substantial Revisions to the Covered Funds Provisions of the Volcker Rule
Client Alert - June 9, 2020 | Federal Reserve Modifies Main Street Lending Programs to Expand Eligibility and Attractiveness
Client Alert - June 1, 2020 | Federal Reserve Releases Application Materials and Guidance for the Main Street Lending Programs
Client Alert - May 18, 2020 | FinCEN Again Extends Its Geographic Targeting Order to Address Money Laundering Through Real Estate
Client Alert - May 5, 2020 | Federal Reserve Issues New Guidance on Primary Market Corporate Credit Facility, Including Use of Subsidiary Issuers
Client Alert - May 1, 2020 | Federal Reserve Announces Revisions To And Expansion Of The Main Street Lending Programs
Client Alert - April 27, 2020 | The Federal Financial Institutions Examination Council Issues Revisions to the BSA/AML Examination Manual
Client Alert - April 21, 2020 | The Impact of Coronavirus on the Operations of Financial Institutions: Key Guidance Issued by U.S. Financial Regulators
Client Alert - April 9, 2020 | Emergency Lending: Federal Reserve Expands Primary Market Corporate Credit Facility, Secondary Market Corporate Credit Facility and Term Asset-Backed Lending Facility
Client Alert - March 31, 2020 | Federal Reserve Announces Delay in Effectiveness of New “Control” Framework
Client Alert - March 25, 2020 | New York Department of Financial Services Emergency Regulations — Mandatory Forbearances for Residential Mortgage Loans
Client Alert - March 24, 2020 | Emergency Lending Round 2: Primary Market Corporate Credit Facility, Secondary Market Corporate Credit Facility, Term Asset-Backed Lending Facility and Expansion of Other Programs
Client Alert - March 18, 2020 | The Federal Reserve Returns to Emergency Lending: Creates Commercial Paper Funding Facility and Primary Dealer Credit Facility
Client Alert - February 13, 2020 | The Federal Reserve’s New “Control” Framework: Somewhat Greater Opportunities for Minority Investments
Client Alert - February 6, 2020 | Dodd-Frank 2.0: Agencies Propose Substantial Revisions to the Covered Funds Provisions of the Volcker Rule
Client Alert - November 21, 2019 | U.S. Banking Agencies Finalize Regulation on “High Volatility Commercial Real Estate” Capital Treatment
Publications - November 20, 2019 | Comptroller of the Currency and Federal Deposit Insurance Corporation Propose Rules on Maximum Interest Rate Authority
Publications - November 19, 2019 | Revised Section 13(3) of the Federal Reserve Act
Client Alert - November 11, 2019 | Steps Toward Reforming U.S. Housing Finance
Client Alert - September 9, 2019 | Dodd-Frank 2.0: U.S. Agencies Revise the Volcker Rule on Proprietary Trading
Client Alert - December 7, 2018 | Derivatives End-User’s Guide to the QFC Resolution Stay Requirements
Publications - November 29, 2018 | SEC Imposes Civil Penalties for ICO Registration Violations; Suggests a Path for Future Compliance
Client Alert - November 15, 2018 | SEC Announces First Enforcement Action Against Digital Token Platform as Unregistered Securities Exchange
Client Alert - September 27, 2018 | New York Office of the Attorney General Publishes Report on Virtual Currency Platforms and Their Potential Risks
Client Alert - September 24, 2018 | Dodd Frank 2.0: U.S. Federal Banking Agencies Propose New HVCRE Capital Regulations
Client Alert - August 20, 2018 | Dodd-Frank 2.0: Potential Reform to the Federal Reserve Board’s “Control Rules” — What Is at Stake and Who May Benefit
Client Alert - August 6, 2018 | The U.S. Office of the Comptroller of the Currency Will Permit Special Purpose National Bank Charters for Fintech Firms
Webcasts - June 27, 2018 | Webcast: Developments in Virtual Currency Law and Regulation
Client Alert - June 14, 2018 | Revisions to the FFIEC BSA/AML Manual to Include the New CDD Regulation
Client Alert - May 24, 2018 | Dodd Frank 2.0: Reforming U.S. HVCRE Capital Treatment
Client Alert - April 19, 2018 | The Federal Reserve’s New Take on Bank Capital: Two Modest, but Thoughtful, Proposals
Client Alert - November 14, 2017 | U.S. Treasury’s Capital Markets Report Gives Market Regulators Green Light to Streamline Derivatives Regulations
Client Alert - October 5, 2017 | Proposed Revised Capital Treatment for “High Volatility Commercial Real Estate”: More Loans Likely to Be Covered
Webcasts - September 19, 2017 | Webcast: Reforming Regulatory Reform: What to Expect from the New Leaders at the Financial Regulatory Agencies
Client Alert - July 5, 2017 | Office of Comptroller of Currency Provides More Guidance on Third-Party Business Relationships, Including Fintech Firms
Client Alert - May 10, 2017 | House Financial Services Committee Financial Choice Act 2.0: Key Banking, Derivatives and Rulemaking Reforms
Client Alert - April 28, 2017 | The Commodities Activities of Banks: Comments on the Federal Reserve’s Notice of Proposed Rulemaking Reveal Key Concerns and Divides
Client Alert - February 6, 2017 | President Trump Issues Executive Order on Financial Regulation, and Memorandum on Department of Labor Fiduciary Rule
Client Alert - December 16, 2016 | The Comptroller’s Special Purpose Charter Proposal for Fintech: A Way Forward?
Article - December 2, 2016 | Dodd-Frank’s future in doubt
Client Alert - November 15, 2016 | The Trump Presidency: Selected Initial Observations and Considerations
Client Alert - November 14, 2016 | Financial Regulatory Reform Under a Trump Presidency: What We Know and What to Expect
Client Alert - October 24, 2016 | Federal Banking Regulators Announce New Proposed Cybersecurity Standards
Client Alert - October 3, 2016 | ESMA Proposal Sets the Stage for Mandatory Trade Execution Requirements in Europe
Client Alert - September 29, 2016 | The Federal Reserve’s Commodities Proposal: Safety and Soundness Regulation, or an Indirect Prohibition?
Client Alert - September 14, 2016 | The U.S. Bank Regulators’ Section 620 Study: The Federal Reserve De-Risks Merchant Banking and Commodities Activities
Article - September 7, 2016 | Developments and Trends in CFTC Enforcement
Client Alert - August 1, 2016 | FinCEN Expands Temporary Reporting Requirements on Title Insurance Companies for All Cash Luxury Real Estate Transactions to Six Major U.S. Areas
Client Alert - July 6, 2016 | Beneficial Ownership and Customer Due Diligence:  Perspectives on the Increased Compliance Risk Associated with the Implementation of FinCEN’s Final Rule
Client Alert - June 29, 2016 | BREXIT Update – Finance and Derivatives Markets Focus
Webcasts - April 21, 2016 | Webcast: CFPB Trends in Enforcement and Investigations
Client Alert - April 13, 2016 | Recent Developments in CFTC Enforcement
Client Alert - March 10, 2016 | Enforcement by the U.S. Consumer Financial Protection Bureau
Client Alert - February 17, 2016 | Good News on International Harmonization: CFTC and European Commission Strike Agreement on Equivalence for CCPs
Client Alert - February 9, 2016 | The Final Margin Framework for Uncleared Swap Transactions
Client Alert - December 7, 2015 | Personal Liability for Senior Compliance Officers Under New York’s Proposed Anti-Money Laundering and Anti-Terrorism Regulation
Client Alert - November 18, 2015 | Resolution Triumphs: Proposed U.S. TLAC and Long-Term Debt Requirements for G-SIBs
Webcasts - November 17, 2015 | Webcast: Blockchain Technology
Client Alert - October 22, 2015 | Dodd-Frank 2.0: The Clinton Program for Financial Regulation
Client Alert - August 19, 2015 | Mandatory Clearing Makes Its Way to Europe: European Commission Adopts New Rules Requiring Clearing for OTC Interest Rate Derivatives
Article - June 4, 2015 | BitLicense Regulations Create Groundbreaking Hurdles
Client Alert - May 27, 2015 | Virtual Currency Regulation and Enforcement: Granting of First NY Charter and FinCEN Fine Demonstrate Continued Evolution for Virtual Currency Sector
Client Alert - April 22, 2015 | The U.S. Consumer Financial Protection Bureau and the Payday Lending Industry
Client Alert - April 17, 2015 | “High Volatility Commercial Real Estate”: U.S. Federal Banking Agencies Release Answers to Frequently Asked Questions
Client Alert - April 8, 2015 | U.S. SEC Implements Dodd-Frank Act Title VII: Reporting and Public Dissemination Rules for Security-Based Swaps
Article - March 31, 2015 | Blockchain Technology and Legal Implications of ‘Crypto 2.0’
Article - March 30, 2015 | New Corporate Governance Rules for Foreign Banks
Webcasts - March 10, 2015 | Webcast: Virtual Currencies
Client Alert - February 11, 2015 | BitLicense 2.0: New York Moves Closer to Comprehensive Virtual Currency Regulation
Article - January 30, 2015 | Bitcoin Basics: a Primer on Virtual Currencies
Client Alert - January 5, 2015 | Developments in Virtual Currency: Regulation and Enforcement Actions Gain Momentum
Client Alert - December 15, 2014 | Deception Concerns Loom Large At CFPB Over Prepaid Cards
Client Alert - October 27, 2014 | New York and Federal Regulators Increasingly Focus Attention on Cybersecurity in the Financial Sector
Client Alert - September 10, 2014 | The New Standard in Bitcoin Regulation?  New York’s Proposed BitLicense Would Create a Highly Regulated Virtual Currency Industry
Client Alert - April 28, 2014 | The Commodities Activities of Banks: Comments on the Federal Reserve’s Advance Notice of Proposed Rulemaking
Client Alert - February 24, 2014 | Farewell to National Treatment: The Federal Reserve’s Section 165 Rule for Foreign Banks
Client Alert - February 12, 2014 | U.S. Developments in Virtual Currencies: FinCEN Administrative Rulings and New York Department of Financial Services Hearings
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