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For
immediate
The Federal
of an Order
and
March
release
Reserve
of Prohibition
institution-affiliated
Midland
Bank,
Mr.
consented
Cope,
without
of books
trading
A copy
AttachTen:
London,
to the issuance
falsification
derivatives
plc,
and
Board
against
party
today
Damian
announced
Cope,
the issuance
a former
of the New York
3, 1997
Branch
trader
of the
England.
admitting
of the Order
records
to any allegations,
due
relating
activities.
of the Order
is attached.
to his
to his
alleged
interest
rate
UNITED
BEFORE
THE
BOARD
STATES
OF GOVERNORS
OF AMERICA
OF THE FEDERAL
WASHINGTON,
In the Matter
DAMIAN
Docket
An Institution-Af&iliated
i
party of
the New York Branch of
Midland Bank, plc
London, England
Deposit
(12 U.S.C.
Federal
Reserve
consent
Order
("Cope"),
defined
a
Insurance
former
Bank,
London,
falsification
rate
96-037-E-I
trader
issues
against
institution-affiliated
and 8(b) (4) of the FDI Act
England,
a foreign
of books
derivatives
of Governors
of Governors")
(the "Order")
and
(i) (3) of the
(the "FDI Act")
1818(b) (4)), of the New York
and
interest
as amended
(the "Board
3(u)
8(e) and
(i) (3)), the Board
of Prohibition
55 1813(u)
Cope's
to sections
Act,
and
System
in sections
plc,
pursuant
55 1818(e)
No.
Order of Prohibition
Issued Upon Consent
Pursuant to the
Federal Deposit
Insurance
Act, as Amended
COPE
Federal
SYSTZM
D.C.
of
WHEREAS,
RESERVE
bank,
and records
trading
branch
activities;
this
Damian
Cope
party,
as
(12 U.S.C.
of the Midlan,
in connection
relating
of the
to his
with
2
WHEREAS,
forgery
on August
in connection
records;
with
his
Cope pled
guilty
falsification
of books
his signature
hereunder,
to
and
and
WHEREAS,
consented
by affixing
to the issuance
and has waived
pursuant
any
hearing
issuance
implied
or set
review
of this
Order
or contest
effectiveness
intent
oft taking
forth
by the Board
he might
12 C.F.R.
of a notice
matter
provision
rights
5 1818,
for the purpose
challenge
of this Order
and all
to 12 U.S.C.
(a) to the
terms,
20, 1996,
Part
ifi this Order;
in any manner
with
of Governors
have
(b) to a
respect
to any
ic) to obtain
hereof;
the basis,
or enforceability
has
263, or otherwise
to prohibit;
evidence
or any provision
otherwise
Cope
and
judicial
(d! to
issuance,
of this Order
validity,
or any
hereof.
NOW,
adjudication
THEREFORE,
prior
of or finding
set forth
in this
Order,
admission
of any allegation
Governors
in connection
to the taking
on any issue
and without
with
made
of any testimony
of fact or law
this Order
or implied
this proceeding,
or
implied
constituting
by the Board
and solely
or
an
of
for the
3
purpose
of settlement
extended
of this
without
protracted
or
proceedings:
IT Is HEREBY
(i)(3),
matter
and
(j) of the
ORDERED,
pursuant
FDI Act
(12 U.S.C.
to sections
8(e),
§§ 1818(e),
(ij (31, and
Cj)), that:
1.
Board
without
Cope,
of Governors,
the prior
where
and,
necessary
section
8(e) (7) (B) of the
FDI Act
another
Federal
institution
hereby
financial
and henceforth
(a)
From
section
8(e) (7) (A) of the
bank
or savings
agency
(b)
attempting
of any
of the
to
§ 1818(e) (7) (B) 1,
regulatory
agency,
limited
in any manner
institution
FDI Act
association
of a foreign
pursuant
(12 U.S.C.
participating
of the affairs
but not
approval
is
prohibited:
conduct
including,
written
or agency
(12 U.S.C.
company
specified
institution,
or any branch
or any
or
bank;
from
to transfer,
soliciting,
voting
procuring,
or attempting
in
§ 1818(e) (7) (A)),
to, any depository
holding
in the
transferring,
to vote'any
proxy,
I
4
or authorization
consent,
any
institution
described
(cl
previously
approved
in section
section
by any
banking
Federal
in
agreement
agency;
for a director,
party,
institution
or
or serving
such
or
as an officer,
described
in
E(e) (7) (A) of the FDI Act.
Cope
section
3.
and shall
stayed,
in any
rights
8(e) (7) (A) of the FDI Act;
any voting
or employee,
2.
subject
to any voting
from violating
as an institution-affiliated
director
under
respect
from voting
(d)
acting
with
Any
of this
to appropriate
criminal
8 of the FDI Act
This
remain
modified,
of Governors.
violation
Order,
fully
terminated
shall
or civil
(12 U.S.C.
and each
effective
Order
penalties
or both
5 1818).
and every
provision
and enforceable
or suspended
separately
hereof,
until
in writing
is
expressly
by the Board
5
4.
All
addressed
ccmmunications
regarding
this Order
shall
be
to:
5.
(a)
Mr. Donald T. Vangel
Senior Vice President
Federal Reserve Bank of New York
33 Liberty Street
New York, New York
10045
(b)
Mr. Damian Cope
30 West 70th Street
New York, New York
The provisions
or otherwise
prevent
State
or department
agency
of this
the Board
from
10023
Order
of Governors,
taking
shall
not bar,
estop,
or any Federal
any other
action
affecting
Cope.
By order
26
ti
of the Board
day ofb&dv:,
of Governors
effective
this
, 1997.
BOARD OF GOVERNORS OF THE
FEDERAL RESERVE SYSTEM
.JoAL~.
Damian
Cope
or
William W. Wiles
Secretary of the Board