When courts and government agencies look for corporate oversight — such as a monitor, skilled person, receiver, trustee, or independent consultant — they seek integrity, experience, independence, and credibility. Exiger’s professionals have proven over decades that they have these crucial qualifications.

Monitorships & Receiverships Image

Unmatched Monitorship Experience

Exiger currently leads the monitorship of HSBC – the largest, most comprehensive monitorship to date. We work with regulators in the US, UK and around the world to evaluate the effectiveness of HSBC’s money-laundering and sanctions compliance controls across approximately 6,000 offices operating in nearly 70 countries around the world. This experience is unmatched.

Exiger’s professionals have been trusted and appointed by the US Department of Justice, the UK Financial Conduct Authority, the Federal Reserve, the Commodity Futures Trading Commission, the New York City Department of Investigation, the New York City Department of Housing Preservation and Development, and private companies.

The Exiger Monitorship

Exiger brings its unparalleled expertise in government-appointed compliance and integrity monitoring to new integrity and compliance monitorships, voluntary monitorships and third-party vendor monitorship assignments across a range of company types, including:

  • Banks and other financial institutions
  • Corporations addressing anti-bribery and corruption issues
  • Entities in the construction industry
  • Gaming companies
  • Local government agencies

Monitorships require expertise in corporate governance, financial crime, compliance, and project management to produce effective, sustainable results. Exiger’s key aspects of a successful monitorship include:

  • Subject-matter expertise
  • Strong focus on sustainability of systems implemented so they will last into the future
  • Insightful and independent reporting that is valuable to the monitored entity and the government agency
  • Project management
  • Cost-effective procedures and systems
  • Appropriate and cost-effective staffing
  • Regular communication with appointing authority
  • Regular communication with monitored entity

Equitable Receiverships

When conducting receiverships or trusteeships arising out of regulatory enforcement, Exiger brings to bear expertise in the securities and commodities industries, particularly related to fraudulent schemes against investors. Exiger’s professionals have deep experience in securities- and commodities-related matters, including as the court-appointed receiver of a fraudulent investment company, arising out of an action by the CFTC. Exiger’s approach to a successful receivership is:

  • Immediately take control of the entity and locate all books and records
  • Implement a procedure to search for and preserve assets of the receivership estate wherever they might be located
  • Investigate the underlying facts, both to assist in identifying assets and to formulate the most equitable way to return funds to investors and other creditors of the estate
  • Communicate regularly with the appointing court and the relevant entity
  • Communicate regularly with investors and other creditors, and implement an efficient claims process
  • If allowable under applicable law, consider filing legal action to recover assets in the hands of third-parties
  • Work closely with government agencies to maximize the assets of the receivership estate
  • Conduct careful accounting analysis to devise an equitable distribution plan

Representative Experience

  • Currently leading the five-year monitorship of HSBC Bank USA, N.A., and HSBC Holdings plc
  • Currently leading the four-year monitorship of a $3 billion construction project in the City of New York
  • Currently leading the monitorship of the University of Cincinnati Police
  • Currently executing the monitorship of the New York City Department of Corrections
  • Led the monitorship of the Los Angeles Police Department (LAPD)
  • Led the CFTC Receivership of IATrading.com
  • Led the monitorship of the International Brotherhood of Teamsters