Two days of grueling Capitol Hill hearings on Facebook’s digital currency Libra left observers certain the existing regulatory framework for financial services cannot provide the tools necessary to address mounting concerns raised by experts, highlighting the need for congressional action.
China’s new technology-focused startup market surged in its debut on Monday, boding well for the Chinese government’s latest effort to bolster capital markets by making it easier for early-stage technology companies to list at home rather than abroad.
PayCargo, the creator of a web-based payment and settlement platform for the shipping industry, has alleged in Georgia federal court that a rival attempted to steal PayCargo's trade secrets and monopolize the payment sector.
Digital securities trading platform Robinhood on Monday said investors poured in $323 million during its latest funding round, as the company looks to build on a successful run over the past year.
Financial technology company Ideanomics was slapped with a proposed securities class action Friday in New York federal court, accusing the company of failing to disclose issues impacting its fiscal year performance that sent its stock plummeting once revealed.
AT&T has largely escaped a $224 million suit brought by a prominent cryptocurrency investor after a California federal judge dismissed several of the man's claims accusing the company of failing to provide proper data security.
Norm Ashkenas helped guide Fidelity's brokerage and retirement products through the 2008 financial crisis and is one of its top compliance executives at a time when standards for financial professionals are in flux.
Four public advocacy groups on Thursday urged the Libra Association's more than two dozen partners to withdraw from the Facebook-led cryptocurrency project, a day after skeptical lawmakers grilled the social media giant.
The Financial Industry Regulatory Authority has asked U.S. broker-dealers to proactively alert it if they plan to work with digital assets, adding another 12 months to a request for voluntary disclosures that FINRA launched one year ago.
Initial exchange offerings, a fast-rising global phenomenon where cryptocurrency exchanges administer token sales on behalf of blockchain startups, stand little chance of taking off in the U.S. because of legal risks tied to this novel form of capital raising, lawyers say.
Some lawyers take the rare step of simultaneously holding roles at law firms and corporate legal departments. It can mean balancing time commitments and watching out for conflicts, but also richer portfolios of experience for those lawyers — and cost-effective options for companies.
The last week has seen the owner of a Manchester skyscraper that needed repair sue several underwriters at Lloyd's, a prominent cryptocurrency trader drag a U.K. digital currency exchange into court and an executive for Honeywell sue HSBC Bank PLC. Here, Law360 looks at those and other new claims in the U.K.
London-based legal mammoth Linklaters LLP has hired a noted blockchain lawyer to lead its financial technology work in the United States, the firm announced Thursday on the heels of heated U.S. congressional hearings on Facebook Inc.'s potential foray into cryptocurrency.
National regulatory authorities in the European Union are employing inconsistent frameworks with respect to the authorization and monitoring of financial technology companies, and more in-depth study is needed to determine an appropriate course of action, Europe's banking watchdog said Thursday.
New Jersey's attorney general slapped an online rental marketplace and its president with a state court suit Wednesday accusing them of selling more than $400,000 worth of unregistered securities to more than 200 investors in a so-called initial token offering.
After seeking additional information last April, the U.S. Department of Justice has cleared financial services companies Fiserv Inc. and First Data Inc. to push on with their proposed $22 billion tie-up.
Five companies’ shares began trading on U.S. exchanges Thursday after the companies, led by a Danish biotechnology firm, priced initial public offerings that together raised nearly $1.1 billion.
Mobile banking platform N26 on Thursday said a renewed fundraising effort brought the company's latest funding round to $470 million, as the German technology unicorn sets its sights on expansion and increased product offerings across Europe, the U.S. and Brazil.
Florida's chief financial officer pressed the state cabinet Wednesday to take action against the state's top financial regulator, who has been accused of sexual harassment, saying that to do nothing at the July 25 meeting is "not an option."
Former clerks and attorneys remember Justice John Paul Stevens, who died Tuesday night at the age of 99, for his trenchant mind and his unending civility. Does his passing mark an end to an era of collegiality on the bench?
Justice John Paul Stevens' landmark decision in Chevron USA Inc. v. NRDC shaped the course of administrative law, and his legacy, for decades. But a recent wave of criticism shared by members of the current court threatens to erase a doctrine that has long bolstered federal regulators' sway over corporate America.
A day after retired U.S. Supreme Court Justice John Paul Stevens died at the age of 99, his colleagues paid tribute to the third-longest-serving member of the high court, cherishing his devotion to public service, his kindness and his unwavering commitment to justice.
Justice John Paul Stevens had a legendary reputation as one of the most humble and caring members of the court. His clerks related some tales that show why.
Justice John Paul Stevens was known for being collegial and kind, but he also wasn’t one to mince words. Listen to a few of the justice’s most memorable words from the bench, in majority opinions, sharply worded dissents and at oral argument.
In this data deep-dive, Law360 examines retired Justice John Paul Stevens’ long tenure, his relatively breezy confirmation, his evolution from Republican appointee to liberal mainstay, and the legacy that lives on in his clerks.
As electronic data demands on federal courts continue to increase, it may be time to consider whether the courts should establish an office that could be staffed with technical experts familiar with electronic discovery issues, says Douglas Smith of Kirkland.
The long-anticipated joint statement issued earlier this month by the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority reminds entities effecting transactions in digital asset securities of broker-dealer compliance requirements with regard to custody, but falls short of providing actionable guidance, say attorneys at Morgan Lewis.
Rothschild Barry's John Coffey, who joined Justice John Paul Stevens' law firm in 1965, shares what it was like to watch Justice Stevens practice law, mentor younger lawyers and land a malfunctioning plane.
In Cohen v. Capital One Funding in New York federal court, the plaintiffs' argument — that special purpose trusts charged and collected interest rates in excess of New York's usury limits — relies on a flawed understanding of the Second Circuit's decision in Madden v. Midland Funding, which was itself erroneous and harmful to credit markets, says Walter Zalenski of Buckley.
While there is discussion in some quarters about new regulations on commercial legal finance, the hands-off approach taken by the majority of courts and legislatures is an implicit recognition that it is already sufficiently regulated, says Danielle Cutrona of Burford Capital.
The administrative record is very important to federal agency litigation — as showcased in last month's U.S. Supreme Court decision concerning the addition of a citizenship question to the 2020 census — yet there is no set of consistent principles to guide agencies in compiling these official records, say attorneys at WilmerHale.
Since 32 of the 67 decisions issued by the U.S. Supreme Court during its October term cite dictionaries, it’s worth reviewing the opinions to learn which dictionaries the justices consulted and how they used them, say Bruce Wessel and Brian Weissenberg of Irell & Manella.
Although the rate of employment for law school graduates — which had been falling steadily — saw a small increase over the last year, other factors, such as fewer graduates overall and potential future job growth stagnation, temper the good news for those pursuing law degrees, say Tiffane Cochran and Tyler Grimm of AccessLex Institute.
Leveraging the collective strengths of a diverse workforce is not only the right thing to do, it’s a strategic imperative for any successful firm or business, says Louise Pentland, executive vice president and chief business affairs and legal officer of PayPal.
Because artificial intelligence tools are becoming ubiquitous in the financial services ecosystem, financial companies will need to be ready for the unique discovery challenges that AI-related litigation will bring, and for plaintiffs attorneys' attempts to exploit such challenges for strategic advantages, say attorneys at Mayer Brown.
Cryptocurrency assets can be hard to value, and none of the valuation methods proposed thus far have been significantly tested in court. To head off possible litigation, companies and investment managers holding crypto assets should be transparent about the valuation methods they use, say Justin Steffen and Michael Perich of Ice Miller.
When a lawyer complains about some workflow inefficiency they are having, the knee-jerk reaction of many firms is to look for a technology-based workaround. This overlooks the importance of human psychology and behavior, which may be the root of the problem, says Ryan Steadman of Zero.
A recent data breach involving Redtail’s client relationship management tool, widely used by financial advisers, highlights the challenges and risks faced by firms in monitoring their advisers' regulatory compliance, say attorneys at McGuireWoods.
Legal writing often falls flat not because it’s unorganized, but because it’s technically unsound and riddled with gaffes that cheapen and degrade it. Avoiding the most common mistakes will keep judges interested and, most importantly, make them trust you, says Daniel Karon of Karon LLC.
The U.S. Securities and Exchange Commission's recently released “Framework for ‘Investment Contract’ Analysis of Digital Assets” centers around the traditional Howey test, signaling that the SEC will continue to treat cryptocurrencies as securities. A new approach that recognizes the unique economic nature of crypto assets is needed, says Boris Richard of FTI Consulting.