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Financial Institutions Registration Requirement

Walkers

Global Legal Insights Fintech 2024: Jersey chapter

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Financial technology is already well established in Jersey, and firms are embedding technological solutions which enhance their products and services, increase efficiencies, and provide greater transparency. Originally...more

Ballard Spahr LLP

House Republican introduces resolution to nullify CFPB non-bank registry rule

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Rep. Andy Ogles, R-Tenn., on August 30, 2024 introduced in the House of Representatives a resolution under the Congressional Review Act (CRA) that would nullify the CFPB’s final nonbank registry rule....more

Foodman CPAs & Advisors

Aviso FinCEN a Clientes

“FinCEN alienta a las instituciones financieras a compartir esta guía de referencia con los clientes a los que se les pueda solicitar que reporten información sobre dueños beneficiarios” es el mensaje que FinCEN publicó el 26...more

Foodman CPAs & Advisors

FinCEN Notice to Customers

“FinCEN encourages financial institutions to share this reference guide with customers that may be required to report beneficial ownership information” is the message that FinCEN released on 7/26/24. The FinCEN Notice to...more

Troutman Pepper

California Privacy Protection Agency Announces Proposed Regulations for Data Broker Registration

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On July 5, the California Privacy Protection Agency (CPPA) published a Notice of Proposed Rulemaking regarding Data Broker Registration pursuant to Senate Bill 362 (the Delete Act). The Delete Act requires the CPPA to...more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - July 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

White & Case LLP

eWpG – Bilingual version (GER – EN)

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In an effort to further facilitate your navigation through the complex landscape of digital securities, we have taken the initiative to translate an essential piece of German legislation – the Act on the Introduction of...more

White & Case LLP

eWpRV – Bilingual version (GER – EN)

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In an effort to further facilitate your navigation through the complex landscape of digital securities, we have taken the initiative to translate an essential piece of German legislation – the Regulation on Requirements for...more

Ballard Spahr LLP

CFPB Forms Repeat Offender Unit

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As we recently reported, the CFPB issued its final rule, titled the Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule on June 3, 2024. The CFPB touts the registry as something that will...more

Ballard Spahr LLP

CFPB Addresses Repeat Offender Unit

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As we recently reported, the CFPB issued its final rule, titled the Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule on June 3, 2024. The CFPB touts the registry as something that will...more

Manatt, Phelps & Phillips, LLP

California Commercial Financing Registration Requirement Passes Senate

Increased regulation of commercial financing shows no signs of stopping. California SB 1482, which would require commercial financing providers and brokers to register with the California Department of Financial Protection...more

Troutman Pepper

CFPB Issues Final Rule on Nonbank Registration of Enforcement Orders

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On June 3, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its final rule requiring covered nonbanks to register enforcement orders, and it is a doozy. Not only will covered nonbanks be required to register...more

Hudson Cook, LLP

Florida Regulator Clarifies Money Transmitter Licensing Exemptions (or lack thereof)

Hudson Cook, LLP on

Among the many state licenses that can impact financial services companies, money transmitter licensing can be among the harder to figure out. In addition to uncertainties about digital currency and developing technologies,...more

Goodwin

FinCEN and the U.S. Department of Commerce’s BIS Issues Supplemental Alert Urging Continued Vigilance for Potential Russian Export...

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On May 19, FinCEN and BIS issued an alert urging financial institutions to watch for attempts to evade export controls imposed on Russia. The alert focuses on ongoing federal initiatives to limit Russian access to technology...more

BCLP

A Time of Transition for the CFTC

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Over the past year, the Commodity Futures Trading Commission continued moving its focus away from practices like spoofing, instead bringing high-profile actions in the crypto space and reaching significant settlements with...more

Hinshaw & Culbertson - Consumer Crossroads

Don't Be Fooled – April 1st Application Deadline for New Louisiana Virtual Currency License

April 1, 2023 marks the deadline to submit an application for the Louisiana Virtual Currency Business Activity License or Virtual Currency Limited Activity Registration in order to receive timely approval from the Louisiana...more

Husch Blackwell LLP

Commercial Financing Disclosure and Broker Registration Bill Introduced in Missouri

Husch Blackwell LLP on

On January 5, 2023, a bill was introduced in the Missouri legislature that would require non-depository financial institutions to provide disclosures at or before consummation of certain commercial financing products....more

McDermott Will & Emery

The Clock Is Ticking: File Now to “Complete” the Louisiana Virtual Currency Business Activity Application by the Statutory...

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As the first state to follow New York’s lead in issuing a crypto-specific license, Louisiana began accepting Louisiana Virtual Currency Business Activity (VCBA) license applications as of January 1, 2023. All entities engaged...more

Dechert LLP

Economic Crime (Transparency and Enforcement) Act 2022 (the "Act") – Answering Your Questions

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This note summarizes those provisions of the Act applicable to England and Wales that deal with the new register of overseas entities ("ROE") that has been established at Companies House in the UK. It seeks to identify and,...more

Troutman Pepper

Registration Begins Under Utah’s Commercial Financing Registration Act

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As we previously posted here, in March, Utah enacted its Commercial Financing Registration and Disclosure Act (CFRDA), requiring commercial financing providers to register with the Utah Department of Financial Institutions...more

McGlinchey Stafford

The Wait is Over: Louisiana Proposes Virtual Currency Business Rules

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The Louisiana Virtual Currency Business Act (Act), which requires virtual currency businesses to hold a license became effective on August 1, 2020. At that time the Louisiana Office of Financial Institutions (OFI) was tasked...more

Katten Muchin Rosenman LLP

SEC Deals New Proposal to Expand Reach of Dealer Registration Requirements

Key Points - - New proposed SEC rules would expand who may be considered a dealer or a government securities dealer under the Securities Exchange Act of 1934. - If the proposed new rules are adopted, a large group of...more

Mayer Brown Free Writings + Perspectives

What’s the Deal? article on Section 3(a)(2) bank note programs

Here’s the deal:  Section 3(a)(2) bank note programs are medium-term note programs with a “bank” as the issuer  The issuer must be a “bank,” as defined in Section 3(a)(2) of the Securities Act  Bank note...more

White & Case LLP

Mexican Government issues registration requirements to those who exchange and custody virtual assets

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On November 30, 2020, the Mexican Ministry of Finance ("SHCP") issued the list of requirements for registration of the persons and entities that offer, on a professional basis, the exchange and custody of virtual assets with...more

Ballard Spahr LLP

CFTC and DOJ Charge BitMEX and Executives With Illegally Trading in Digital Assets and Ignoring BSA/AML Requirements

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Incorporating in the Seychelles but Allegedly Operating in the U.S. Spells Trouble for Company and its Founders - The Bitcoin Mercantile Exchange, or BitMEX, is a large and well-known online trading platform dealing in...more

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