Davis Polk is advising Sheltered Harbor LLC, an industry-led not-for-profit organization operated under the auspices of the Financial Services Information Sharing and Analysis Center (FS-ISAC), on its formation and related transactions.
Sheltered Harbor is a proactive initiative undertaken by the financial services sector and is designed to enhance resiliency and provide enhanced protections for financial institutions’ customer accounts and data. Multiple industry associations and their members collaborated closely in order to develop and deliver Sheltered Harbor, including the American Bankers Association, the Credit Union National Association, the Independent Community Bankers of America, the Financial Services Forum, FS-ISAC, the Financial Services Roundtable, the National Association of Federal Credit Unions, The Securities Industry and Financial Markets Association and The Clearing House. Current Sheltered Harbor membership covers approximately 60% of U.S. retail bank and brokerage accounts.
The Davis Polk corporate team includes partner Joseph Rinaldi, counsel Ajay B. Lele and associate Nicholas J. Marricco. Partner Luigi L. De Ghenghi is providing financial regulatory advice. Partner Mary Conway is providing tax advice. All members of the Davis Polk team are based in the New York office.