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Skadden, Arps, Slate, Meagher & Flom LLP

UK Government Introduces Bill To Clarify the Legal Status of Digital Assets

On 11 September 2024, the UK government introduced the Property (Digital Assets etc) Bill, which provides that digital assets can be considered to be personal property under the laws of England and Wales, and could therefore...more

A&O Shearman

Just a few months left before DORA enforcement: Time to Take Action

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The Digital Operational Resilience Act EU 2022/2554 (DORA) constitutes a groundbreaking EU regulation designed to establish a unified framework for bolstering cybersecurity and operational resilience within the financial...more

A&O Shearman

On the existence of a pan-European reverse solicitation regime under MIFID II, and importance on a 'Hard' BREXIT

A&O Shearman on

This client memorandum concerns a highly technical point of considerable practical importance. It challenges aspects of the received wisdom that, for post-Brexit cross-border investment business conducted from the U.K....more

A&O Shearman

Package of EU Anti-Money Laundering Legislation Published

A&O Shearman on

A package of anti-money laundering legislation has been published in the Official Journal of the European Union, which includes: the Regulation on the prevention of the use of the financial system for the purposes of...more

Skadden, Arps, Slate, Meagher & Flom LLP

The London Space Law Symposium

On 9 May 2024, Skadden held the inaugural London Space Law Symposium, where six panels of Skadden representatives and industry experts discussed legal aspects of the new space economy. The event was held in the Naim Dangoor...more

Sheppard Mullin Richter & Hampton LLP

Florida Expands its “De-Banking” Law

Florida is one of several states that has enacted “de-banking” legislation that requires financial institutions to provide consumers with fair access to financial products and services. On May 3, Governor DeSantis signed into...more

White & Case LLP

2024 Financial Institutions Outlook & Trends

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This article, updated quarterly, looks ahead to the areas expected to be prioritized by financial services regulators across the globe; we look at the key regulatory trends emerging from the past year which inform our...more

Conyers

Regulatory & Risk Advisory Review: Cayman Islands – January to March 2024

Conyers on

Welcome to the first instalment of 2024 of our Cayman Islands Regulatory & Risk Advisory Review. As we cover in this issue, there have been a number of updates in the first quarter of the year. Perhaps most notably is the...more

Conyers

Regulatory & Risk Advisory Outlook 2024: Cayman Islands

Conyers on

2023 was an active year for the Cayman Islands regulatory industry. While we have endeavoured to keep you updated throughout the year with our Regulatory & Risk Advisory Reviews, our team has highlighted below the key changes...more

Ballard Spahr LLP

Wisconsin Senate Proposes New Bill to Revise Money Transmission, Consumer Lenders, Collection Agency, and Other Financial Services...

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In November 2023, S.B. 668 was introduced in the Wisconsin Senate. S.B. 668 would make sweeping changes to the state laws governing financial service providers. The bill creates a pathway for the Wisconsin Department of...more

White & Case LLP

Tying deposit insurance reform to reform of the tying of deposits

White & Case LLP on

On March 10, 2023 the California Department of Financial Protection and Innovation ("CDFPI") closed Silicon Valley Bank ("SVB"), a California chartered, non-member bank. The CDFPI placed SVB into receivership and appointed...more

Sheppard Mullin Richter & Hampton LLP

New York Settles with Crypto Company, Proposes Crypto Legislation

On May 1, NYDFS settled with a cryptocurrency trading platform over the company’s cybersecurity deficiencies, resulting in a consent order and $1.2 million fine for the crypto company. NYDFS alleged “multiple deficiencies in...more

Spilman Thomas & Battle, PLLC

Another Banking Crisis and Financial Regulation – Where Do Things Stand

An old adage is that history will repeat itself. In other words, all of this has happened before, and it will all happen again. Another banking crisis is upon us following the familiar cycle of financial deregulation. The...more

Nelson Mullins Riley & Scarborough LLP

[Webinar] FinTech University: The View from Washington - December 6th, 2:00 pm - 3:00 pm EST

Join us for the next edition of FinTech University to discuss FinTech-based legislation and executive actions. This program will examine the 2022 midterm election and what it means for FinTech. Experienced Nelson Mullins...more

Barnea Jaffa Lande & Co.

Will NFTs Push Regulators to Regulate the Metaverse?

A few years ago, NFTs were the subject of interest only for tech geeks and the cryptocurrency community. It seems, however, that nowadays, NFTs are almost everywhere. For those who don’t yet know, NFTs (non-fungible tokens)...more

Skadden, Arps, Slate, Meagher & Flom LLP

Insights Special Edition: Biden’s First 100 Days

While combatting the COVID-19 pandemic, the Biden administration also shifted the direction of policy in a number of legal and regulatory areas during its first 100 days. We examine the initiatives, executive orders, nominees...more

Hogan Lovells

Financial institutions general regulatory news, April 2021 # 3

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Recent regulatory developments of interest to most financial institutions, including updates from the UK government, PRA, FCA, JMLG and the European Commission. See also our sector specific updates in the Related Materials...more

Morgan Lewis

US Lawmakers Propose Stablecoin Regulation

Morgan Lewis on

Members of the US Congress announced on December 2 the proposal of a new consumer protection bill to increase the oversight and regulation of existing stablecoin issuers, potential stablecoin issuers, and stablecoin-related...more

Carlton Fields

Credit Unions Ask Senate Banking Committee to Make Cannabis Banking Safe

Carlton Fields on

In the latest chapter of the ongoing saga of the U.S. Senate’s consideration and hopeful passage of the Secure and Fair Enforcement (SAFE) Banking Act, on February 7, 2020, the Credit Union National Association (CUNA) sent a...more

Hogan Lovells

The good, the bad and the ugly

Hogan Lovells on

One year on from Australia's Royal Commission on Banking - The report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (the Report), was published one year ago....more

Carlton Fields

House Members Strongly Urge Senate Banking Committee to Make “Legal” Cannabis SAFE for Banking

Carlton Fields on

On January 21, 2020, the four lead bipartisan sponsors of H.R. 1595, the SAFE Banking Act, U.S. Reps. Ed Perlmutter, D-Colo., Steve Stivers, R-Ohio, Denny Heck, D-Wash., and Warren Davidson, R-Ohio, sent a letter to Senate...more

Carlton Fields

Are Bank Regulators "Mellowing Out" on Cannabis?

Carlton Fields on

Federal bank regulators no longer require banks to submit suspicious activity reports (SARs) for legally authorized hemp business transactions, absent another required circumstance....more

Carlton Fields

Is Cannabis Banking Safe Yet? It’s a Definite, Maybe

Carlton Fields on

The distribution and sale of cannabis continues its charge from taboo to mainstream. Cannabis-related commerce will reach billions of dollars annually in the next few years. Everything from medicinal and recreational...more

The Volkov Law Group

House of Representatives Passes Bill Aimed at Marijuana Industry Financial Reforms

The Volkov Law Group on

A new bill that would make it easier for financial institutions to provide services to “marijuana-related businesses” has passed the U.S. House of Representatives 321-103 with strong bipartisan support....more

Ballard Spahr LLP

Congressional Funding Bill Pursues Approval of Financial Services for Marijuana Industry Through the (Temporary) Backdoor

Ballard Spahr LLP on

As we have blogged, there is perplexing, significant and ongoing uncertainty regarding just how federal criminal and Bank Secrecy Act laws will be – or will not be – enforced against financial institutions providing banking...more

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