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Attorney Spotlight

Learn about Richard Arnholt's diverse government contracts practice and why he chose to pursue a career in the legal field. Read more>

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In June 2017, Pinnacle Financial Partners, Inc. (NASDAQ: PNFP) closed a $1.9 billion merger with BNC Bancorp (NASDAQ: BNCN) pursuant to which BNC merged with and into Pinnacle. With the completion of the transaction, Pinnacle becomes a Top 50 U.S. Bank. The merger will create a four state footprint concentrated in 12 of the largest urban markets in the Southeast. 

Bass, Berry & Sims has served Pinnacle as primary corporate and securities counsel for more than 15 years and served as counsel on the transaction. Our attorneys were involved in all aspects related to the agreement, including tax, employee benefits and litigation. 

Read more details about the transaction here.

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Regulation A+

It seems that lately there has been a noticeable uptick in Regulation A+ activity, including several recent Reg A+ securities offerings where the stock now successfully trades on national exchanges. In light of this activity, we have published a set of FAQs about Regulation A+ securities offerings to help companies better understand this "mini-IPO" offering process, as well as pros and cons compared to a traditional underwritten IPO.

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Thad McBride Provides Insight on Combating Money Laundering, Terrorist Financing and Counterfeiting Act of 2017

Compliance Reporter

Media Mentions

June 30, 2017

Bass, Berry & Sims attorney Thad McBride provided insights for an article in Compliance Reporter discussing the Combating Money Laundering, Terrorist Financing and Counterfeiting Act of 2017 and the heightened compliance measures financial institutions may face if the bill is passed in the Senate. The bill would put forth an increased ability for regulators to crack down on questionable activity occurring beyond U.S. borders by reviewing records of coordinating institutions stateside. 

This would put a greater emphasis for businesses with overseas operations to "know your customer" and "know your customers' customers," especially banks. "There will be added due diligence requirements for financial services companies in terms of really knowing who they are dealing with," said Thad. "There will be added necessity to dig into who your customers are and who is involved in your transactions." 

For compliance professionals, the bill's increased scrutiny may create situations that require review of their business counterparts. It's important for compliance professionals to ensure that they are viewed as a resource, rather than a barrier in doing business. "There likely will be scenarios where it will be necessary to dig into who a client is and, to the extent you can be friendly with business people, it will make it easier to meet those new burdens," Thad added. 

The full article, "Senate AML Bill Would Raise KYC Burdens," was published on June 29, 2017, by Compliance Reporter and is available online (subscription required).


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