ÃÛÌÒÊÓÆµ

Fintech

  • May 21, 2025

    CFTC Member Says Enforcement Needs More Transparency

    The U.S. Commodity Futures Trading Commission's Christy Goldsmith Romero on Wednesday called on the agency to be more transparent about its enforcement decisions, while laying out the factors she weighs in crediting firms for self-reporting and cooperation.

  • May 21, 2025

    House Panel Advances Bills Easing Securities, Banking Regs

    The U.S. House of Representatives Financial Services Committee this week approved 25 bills largely aimed at reducing capital markets and banking regulations, moving the deregulatory proposals forward for consideration by the full House.

  • May 21, 2025

    Squires Talks Fortress, PTAB Invalidations In Senate Hearing

    The Trump administration's nominee for U.S. Patent and Trademark Office director had his moment before the Senate Judiciary Committee on Wednesday, where he downplayed his controversial connections to litigation finance giant Fortress Investment Group and raised concerns that too many bad patents were being issued.

  • May 21, 2025

    Chancery Orders Nominating Do-Over For Ionic Board Vote

    Citing overwhelming trial evidence, a Delaware vice chancellor on Wednesday told bankrupt Celsius Network's Ionic Digital successor to reopen a board nomination window after finding that the company wrongly eliminated one of two director seats ahead of an election in a defensive move targeting dissident candidates.

  • May 21, 2025

    Crypto Influencer's SPAC Leads 2 Offerings Totaling $420M

    A special purpose acquisition company led by crypto influencer Anthony Pompliano and advised by Reed Smith LLP raised $220 million as it went public on Wednesday, while another fintech-focused blank check company advised by DLA Piper raised $200 million in its own offering.

  • May 21, 2025

    SafeMoon CEO Convicted Of Looting Crypto Company

    A Brooklyn federal jury on Wednesday quickly found the former CEO of SafeMoon guilty of conspiring to loot over $40 million from the cryptocurrency firm, making him the second former top leader of the once-hot company to be convicted while its founder remains a fugitive.

  • May 21, 2025

    CFTC Faces Leadership Void As 3rd Commissioner Plans Exit

    U.S. Commodity Futures Trading Commission member Kristin Johnson has become the third agency member to announce her upcoming departure within the space of a week, potentially leaving the market regulator with a single voting member as it awaits the appointment of a new chair.

  • May 20, 2025

    SEC Says Unicoin Made $100M Via 'Massive' Offering Fraud

    The U.S. Securities and Exchange Commission on Tuesday accused Unicoin of promoting a "massive securities offering fraud" through which the cryptocurrency company raised more than $100 million from unknowing investors, according to a complaint filed in New York federal court.

  • May 20, 2025

    Crypto Co. Genesis Sues Parent Co. Over $1.2B In Transfers

    Genesis Global Capital, a crypto lender that filed for bankruptcy in 2023, is now suing its parent company in bankruptcy court, seeking to recover more than $1.2 billion that the lender says was transferred to insiders while the company was insolvent and headed for Chapter 11.

  • May 20, 2025

    FDIC Nixes Biden-Era Merger Rules As House Passes OCC Bill

    The Federal Deposit Insurance Corp. on Tuesday finalized the repeal of stricter bank merger guidelines adopted last year, pulling them back the same day as the U.S. House moved to nullify the Office of the Comptroller of the Currency's Biden-era merger policy rewrite.

  • May 20, 2025

    Crypto Co. Says Uniswap Uses Its Patented DeFi Tech

    The developer of decentralized exchange Bancor on Tuesday accused the entities behind its competitor Uniswap of wrongfully using patented smart contract technology that went on to underpin much of the decentralized finance ecosystem.

  • May 20, 2025

    SEC Chair Says Staff Exits Have Left Holes In Agency

    U.S. Securities and Exchange Commission Chair Paul Atkins told Congress Tuesday that the agency has lost hundreds of employees in recent months due to voluntary buyouts and early retirement incentives, and that some now-missing expertise will need to be replaced. 

  • May 20, 2025

    BofA Class In Out-Of-Network ATM Fee Fight Narrowed

    A California federal judge tweaked the definition of a class of account holders suing Bank of America over out-of-network fees for balance inquiries at certain ATMs, agreeing to exclude certain members from the class but largely rejecting the bank's qualms with the class certification.

  • May 20, 2025

    SafeMoon CEO's Crypto Talk 'Riddled With Lies,' Jury Told

    A Brooklyn federal jury was set to deliberate charges accusing a U.S. Army veteran from Utah of conspiring to loot crypto company SafeMoon, after federal prosecutors on Tuesday walked jurors through what they called powerful evidence of the former CEO's guilt.

  • May 20, 2025

    ÃÛÌÒÊÓÆµ's Guidance Purge May Have Limited Impact For Industry

    The Trump administration's recent culling of Consumer Financial Protection Bureau guidance may help advance the agency's pivot to lighter-touch regulation, but consumer advocates and even some financial services attorneys say the rescinded policies could still shape litigation and leave companies guessing about the agency's current views.

  • May 19, 2025

    Goldstein Assails 'Radical' DOJ Case, Probe Of 'Sexual Habits'

    In his most forceful attack on tax evasion charges that have roiled the U.S. Supreme Court bar, indicted appellate icon Thomas C. Goldstein is accusing the U.S. Department of Justice of embracing "breathtaking" legal theories and revealing prurient information about him "to bias the grand jury."

  • May 19, 2025

    Senate Advances Stablecoin Bill After Dem Backers Return

    The U.S. Senate's proposal to regulate stablecoins is headed to the floor after lawmakers voted to close debate on the bill Monday evening, clearing a procedural hurdle after first stumbling earlier this month when Democrats pulled support to pursue further negotiations.

  • May 19, 2025

    Real Estate CEO Gets 87 Months For $63M Crowdfund Fraud

    The former CEO of a real estate investment firm who copped to ripping off investors in a crowdfunded $63 million development scheme was hit with a seven-plus-year prison sentence Monday from a Georgia federal judge who said the financier's "addiction to optimism" had been his ruin.

  • May 19, 2025

    Binance Calls FTX Ch. 11 Clawback Suit 'Legally Deficient'

    Binance has asked a Delaware bankruptcy judge to dismiss FTX's lawsuit seeking to recover $1.76 billion that was transferred to Binance, accusing the estate of FTX of trying to "shift the blame" for that company's November 2022 collapse.

  • May 19, 2025

    SEC's 'New Day' Could Cause Financial Crisis, Member Warns

    U.S. Securities and Exchange Commission Chair Paul Atkins on Monday promised a "new day" for the agency that could bring a host of changes around private fund investments, cryptocurrency and the collection of market data, but the commission's sole Democrat warned that new leadership was playing a "dangerous game" that could lead to a 2008-style financial crisis.

  • May 19, 2025

    MicroStrategy Faces Investor Suit Over Bitcoin Strategy

    Analytics software company MicroStrategy was hit with a proposed shareholder class action alleging that it downplayed the risk of major financial losses that would follow an update to its crypto accounting methodology.

  • May 19, 2025

    Binance Argues All Class Members Must Arbitrate Claims

    Crypto exchange Binance has urged a New York federal judge to require arbitration for all plaintiffs in a proposed class action accusing the crypto exchange of improperly selling securities, saying its terms of use include a class action waiver.

  • May 19, 2025

    'Tornado Cash' Founder Says Feds Withheld Key Evidence

    Tornado Cash founder Roman Storm is demanding federal prosecutors conduct a "thorough" review for additional evidence in his case after the government disclosed in a separate crypto mixer prosecution that Treasury employees had a contrary view of the Justice Department's unlicensed money transmission theory.

  • May 19, 2025

    CFTC Should Pay $3M Atty Fees After Sanctions, Firm Says

    A foreign exchange firm that won dismissal of a U.S. Commodity Futures Exchange Commission case after a New Jersey federal judge sanctioned the agency for bad faith behavior now says the CFTC should have to pay nearly $3 million for failing to own up to its mistake sooner.

  • May 16, 2025

    DC Circ. Judges Skeptical Of Blockade On ÃÛÌÒÊÓÆµ Mass Layoffs

    A D.C. Circuit panel majority Friday sounded inclined to lift lower court restrictions on what the Trump administration contends is its lawful push to "radically downsize" the Consumer Financial Protection Bureau, potentially clearing the way for mass layoffs of its staff.

Expert Analysis

  • 10 Soft Skills Every GC Should Master

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    As businesses face shifting regulatory and technological uncertainty, general counsel will need to strengthen certain soft skills to succeed, from admitting when they make a mistake to maintaining a healthy dose of dispassion, says Douglas Brown at Manatt.

  • An Unrestrained, Bright-Eyed View Of Legal AI's Future

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    Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.

  • Ban On Reputation Risk May Help Bank Enforcement Defense

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    The Comptroller of the Currency and Federal Deposit Insurance Corp.’s recent commitment to stop examining banks for reputation risk could help defendants in enforcement actions challenge unfavorable assessments and support defendants' arguments for lower civil money penalties, says Brendan Clegg at Luse Gorman.

  • Tracking The Evolution In Litigation Finance

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    Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.

  • How Calif., NY Could Fill Consumer Finance Regulatory Void

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    California and New York have historically taken the lead in consumer financial protection, and both show signs of becoming even more active in this area during the second Trump administration amid an enforcement pullback at the federal level, say attorneys at Sidley.

  • Series

    Volunteer Firefighting Makes Me A Better Lawyer

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    While practicing corporate law and firefighting may appear incongruous, the latter benefits my legal career by reminding me of the importance of humility, perspective and education, says Nicholas Passaro at Ford.

  • Limit On SEC Enforcement Authority May Mean Fewer Actions

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    Following a recent U.S. Securities and Exchange Commission final rule revoking the Enforcement Division director's long-standing authority to issue formal investigation orders, it's clear the division is headed for a new era of limited autonomy, marked by a significantly slower pace of SEC investigations, say attorneys at Ballard Spahr.

  • How Lenders Should Prepare For Crypto As Collateral

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    Amid the administration's desire to position the U.S. as a digital banking leader, lenders should prepare for customers seeking to use cryptocurrency as collateral for financing, consider which rules govern these transactions, and assess their ability to obtain or maintain control of the virtual funds, say attorneys at Frost Brown.

  • As SEC, CFTC Retreat, Who Will Police The Crypto Markets?

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    As the U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission pull back from policing the crypto markets, the Federal Trade Commission and Consumer Financial Protection Bureau have the authority to pick up the slack — although recent events raise doubts that they will do so, say attorneys at Skadden.

  • 5 Ways Banking Has Changed In 5 Years Since COVID

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    Since the start of the pandemic five years ago, technology, convenience and shifting expectations have transformed compliance for the financial services industry in several key ways, from the shrinking role of the traditional bank branch to the rise of fintech and mobile payments, says Christopher Pippett at Fox Rothschild.

  • E-Discovery Quarterly: The Perils Of Digital Data Protocols

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    Though stipulated protocols governing the treatment of electronically stored information in litigation are meant to streamline discovery, recent disputes demonstrate that certain missteps in the process can lead to significant inefficiencies, say attorneys at Sidley.

  • Making Sense Of Small Biz Fair Lending Compliance

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    Despite the uncertainty brought on by the Consumer Financial Protection Bureau's recent efforts to revise fair lending data collection requirements under Section 1071 of the Dodd-Frank Act, the compliance dates have not yet been stayed, so covered institutions should still start to monitor any disparities now, say attorneys at Frost Brown Todd.

  • Opinion

    Ripple Settlement Offers Hope For Better Regulatory Future

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    The recent settlement between the U.S. Securities and Exchange Commission and Ripple — in which the agency agreed to return $75 million of a $125 million fine — vindicates criticisms of the SEC and highlights the urgent need for a complete overhaul of its crypto regulation, says J.W. Verret at George Mason University.

  • Series

    Law School's Missed Lessons: Preparing For Corporate Work

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    Law school often doesn't cover the business strategy, financial fluency and negotiation skills needed for a successful corporate or transactional law practice, but there are practical ways to gain relevant experience and achieve the mindset shifts critical to a thriving career in this space, says Dakota Forsyth at Olshan Frome.

  • OCC Patriot Bank Order Spotlights AML Issues For Managers

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    The Office of the Comptroller of the Currency's focus on payments and prepaid card program managers in its recent consent order with Patriot Bank is noteworthy and shows regulators are unlikely to back down on enforcement related to Bank Secrecy Act/anti-money laundering, say attorneys at Troutman Pepper.

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