The Division of Corporation Finance (Division) of the Securities and Exchange Commission (SEC) recently issued two statements regarding whether certain tokens, or arrangements involving tokens, constitute “investment...more
Several recent enforcement actions from the U.S. Securities and Exchange Commission (SEC or Commission) reaffirm that “finders” involved in soliciting investors on behalf of private companies are, in the SEC’s view, required...more
In this latest issue of The Entrepreneurs Report, we’ve compiled a range of data on venture, convertible note, and SAFE financing transactions in which the firm was involved during 2024, with the objective of identifying...more
The lead of the U.S. Securities and Exchange Commission’s (SEC’s) new Crypto Task Force (Task Force), Commissioner Hester Peirce, recently laid out principles for how the Task Force will approach regulation and provided a...more
In this issue of Wilson Sonsini's Focus on Fintech, our attorneys discuss updates and developments from federal regulators, including those related to artificial intelligence in financial markets, regulated securities...more
In this issue of Wilson Sonsini's Focus on Fintech, our attorneys discuss updates and developments from federal regulators, including those related to bank-fintech partnerships, cryptocurrency and virtual currency updates,...more
12/17/2024
/ Banking Sector ,
Banks ,
Blockchain ,
CFTC ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Digital Assets ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
FinTech ,
Popular ,
Securities and Exchange Commission (SEC)
Recently adopted rules applicable to private fund advisers will not come into effect after all. These changes, which were adopted by the U.S. Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940...more
On September 4, 2024, the U.S Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published a final rule that expands the definition of “financial institution” to include Registered Investment Advisers...more
10/4/2024
/ AML/CFT ,
Anti-Money Laundering ,
Financial Adviser ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Investment Adviser ,
Money Laundering ,
Popular ,
Registered Investment Advisors ,
Unregistered Brokers
In the latest edition, our attorneys discuss updates and developments from federal regulators, including those related to cryptocurrencies, cybersecurity in financial markets, and the intersection of fintech and AI. They also...more
The firm is pleased to distribute the Q2 2024 edition of All Eyes on AI: Regulatory, Litigation, and Transactional Developments, which closely follows the evolving regulatory landscape for artificial intelligence (AI) in the...more
9/25/2024
/ Algorithms ,
Artificial Intelligence ,
Copyright Office ,
EU ,
FCC ,
Federal Trade Commission (FTC) ,
Innovative Technology ,
Machine Learning ,
NIST ,
Securities and Exchange Commission (SEC) ,
Technology Sector ,
USPTO
The U.S. Securities and Exchange Commission (SEC) has announced two settled charges involving alleged violations of Rule 206(4)-2 under the Investment Advisers Act of 1940 (Advisers Act), known as the “Custody Rule.” These...more
Companies in the growing “wealthtech” space often face novel regulatory and legal issues under the federal securities laws. Wealthtech companies blend traditional asset management and brokerage services with new technologies:...more
In a decision with far-ranging implications for federal administrative law, the United States Supreme Court issued its long-awaited ruling in Loper Bright Enterprises v. Raimondo (Loper Bright).1 The Supreme Court’s...more
On May 16, 2024, the U.S. Securities and Exchange Commission (SEC) announced that it had adopted final amendments to its Regulation S-P (the Rule or Amended Rule), which governs “covered financial institutions’” treatment of...more
In this latest edition, our attorneys discuss updates and developments from federal regulators, including those related to the intersection of fintech and artificial intelligence, cryptocurrency and virtual currency updates,...more
The firm is pleased to distribute the Q1 2024 edition of All Eyes on AI: Regulatory, Litigation, and Transactional Developments, which closely follows the evolving regulatory landscape for artificial intelligence (AI) in the...more
5/24/2024
/ Antitrust Division ,
Artificial Intelligence ,
Biden Administration ,
Canada ,
EU ,
Executive Orders ,
FCC ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
New Legislation ,
Securities and Exchange Commission (SEC) ,
Technology Sector ,
U.S. Treasury ,
USPTO
Two settlement orders involving claims by investment advisers regarding their use of artificial intelligence (AI), both announced on the same day, underscore the continued focus on advisers' use of AI by the U.S. Securities...more
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has proposed a sweeping expansion of the Bank Secrecy Act’s (BSA) affirmative anti-money laundering (AML) and countering the financing of...more
2/27/2024
/ AML/CFT ,
Anti-Money Laundering ,
Banking Sector ,
Compliance ,
Financial Adviser ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Investment Adviser ,
Money Laundering ,
Terrorist Financing
In this issue, we discuss updates and developments from federal regulators, including those related to the intersection of fintech and artificial intelligence, crypto-asset and central bank digital currencies, and consumer...more
Creative, attention-grabbing marketing is an art mastered by many fintech companies. However, federal financial and consumer protection regulators are ramping up scrutiny of marketing materials related to financial services,...more
Where will the fintech industry head in 2024? Our fintech and financial services partners make a few predictions below....more
1/16/2024
/ Artificial Intelligence ,
Banking Sector ,
CFTC ,
Cryptoassets ,
Cryptocurrency ,
Financial Institutions ,
Financial Services Industry ,
Financial Transactions ,
FinTech ,
Machine Learning ,
Popular ,
Securities and Exchange Commission (SEC)
On December 4, 2023, the Commodity Futures Trading Commission (CFTC) issued proposed guidance relevant to “designated contract markets” (DCMs) and “swap execution facilities” (SEFs) as they develop standardized derivative...more
In this most recent issue, we discuss a number of updates and developments from federal regulators, including those related to novel banking arrangements, misrepresentations in advertisements and marketing, the intersection...more
On October 23, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released a Notice of Proposed Rulemaking (proposed rule) addressing “mixing transactions” that involve convertible...more
The firm is pleased to distribute the Q3 2023 edition of All Eyes on AI: Regulatory, Litigation, and Transactional Developments, which closely follows the evolving regulatory landscape for artificial intelligence (AI) in the...more
10/26/2023
/ Algorithms ,
Artificial Intelligence ,
Automation Systems ,
Biden Administration ,
Copyright ,
Cybersecurity ,
Department of Homeland Security (DHS) ,
Equal Employment Opportunity Commission (EEOC) ,
EU ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Innovative Technology ,
Legislative Agendas ,
Machine Learning ,
Microsoft ,
Patent Infringement ,
Privacy Laws ,
UK