Fed Order Against Fla.’s Eagle
The Federal Reserve Board issued a cease-and-desist order Thursday against Eagle National Holding Co. of Doral, Fla., concerning insider transactions.
The order bans the parent of Eagle National Bank of Miami from entering into any transactions with or on behalf of chairman Jaime Gilinski.
In addition, Eagle may not engage in any transaction with current or former executive officers, directors, or principal shareholders, or members of their immediate families, the Fed said.
The agency ordered the $280 million-asset company to improve its risk management policies and procedures and to conduct a review of transactions since 2001 to make sure any suspicious activities were properly identified.
Three months ago the Office of the Comptroller of the Currency issued a similar order against Eagle National Bank. That action outlined the bank’s deficiencies in complying with the Bank Secrecy Act and highlighted its dealing with “senior foreign political figures.”
