AER Advisors v. Fidelity Brokerage Services

Court:

U.S. Court of Appeals

(First Circuit)

Amicus Issue:

Whether the safe harbor provision of the Bank Secrecy Act provides unqualified protection to a financial institution and its employees from civil liability for filing a Suspicious Activity Report (SAR), or whether a financial institution and its employees must have a good faith belief that a possible violation of law occurred before filing a SAR.

Counsel of Record:

Skadden, Arps, Slate, Meagher & Flom LLP

Colleen P. Mahoney

James R. Carroll

Alisha Q. Nanda

Immanuel R. Foster

Other Amici:

None