The Wall Street Journal identified a lack of checks and balances as “the most glaring red flag in the Madoff scandal” and recommended that investors pay close attention to the levels of internal and regulatory oversight their financial advisors receive.

AMG National Trust Bank is subject to stringent regulation and examination by the Office of the Comptroller of the Currency, a bureau of the U.S. Department of the Treasury. In addition, AMG routinely submits to rigorous financial audits and operational reviews by experienced, knowledgeable and reputable accounting firms. AMG has a full-time compliance officer on staff who reports to an audit committee consisting of independent members of AMG’s board of directors. AMG is well capitalized and has Federal Deposit Insurance Corporation insurance on bank deposits.

Annual audits and reviews independently verify a number of safeguards critical to the security of assets held at AMG; specifically:

• The separation of client assets held in securities accounts from corporate assets and independent confirmation of client-owned securities held at third-party custodians,
• Appropriate accounting for client assets and reporting of the assets to the client,
• The existence of, and adherence to, policies and procedures, including dual control over client assets,
• Detailed due diligence on recommended outside investment managers, brokers, and custodians,
• The scrupulous protection of client privacy.

Member FDIC

Investment products: Not FDIC insured • No bank guarantee • May lose value