Fintech

  • July 22, 2019

    Facebook's Libra Raising Unique Questions For Lawmakers

    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.

  • July 22, 2019

    Strong Debut Augurs Well For China's New Startup Market

    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.

  • July 22, 2019

    PayCargo Accuses Competitor Of Stealing Trade Secrets

    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.

  • July 22, 2019

    Trading Firm Robinhood Nabs $323M In Latest Funding Round

    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.

  • July 22, 2019

    Investor Sues Fintech Co. Ideanomics Over Stock Drop

    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.

  • July 22, 2019

    AT&T Sees Most Claims Cut From $224M Data Breach Suit

    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.  

  • July 19, 2019

    Chatting With The CCO: Fidelity's Norm Ashkenas

    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.

  • July 19, 2019

    Groups Urge Libra Partners To Stand Up To Facebook

    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.

  • July 19, 2019

    FINRA Presses Brokers For Voluntary Notice On Digital Assets

    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.

  • July 19, 2019

    Crypto 'IEOs' Grow Globally Despite US Legal Obstacles

    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.

  • July 19, 2019

    Why Some Straddle The Line Between Law Firm And GC Gigs

    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.

  • July 19, 2019

    UK Litigation Roundup: Here's What You Missed In London

    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.

  • July 18, 2019

    Linklaters Hires Blockchain Wonk As 1st US Fintech Leader

    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.

  • July 18, 2019

    EU Banking Watchdog Urges Care With Fintech Regs

    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.

  • July 18, 2019

    NJ AG Says Online Rental Co., CEO Sold Unregistered Tokens

    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.

  • July 18, 2019

    DOJ Clears Fiserv's $22B Acquisition Of First Data

    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.

  • July 18, 2019

    5 Cos. Price IPOs Totaling $1.1B, Led By Danish Biotech Firm

    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.

  • July 18, 2019

    Mobile Banking Co.'s Late Push Brings Fundraise To $470M

    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.

  • July 17, 2019

    Fla. CFO Urges Cabinet To Act Against Financial Regulator

    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."

  • July 17, 2019

    'May I Just Ask': Era Of Civility Passes With Justice Stevens

    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?

  • July 17, 2019

    Justice Stevens' Chevron Legacy Under Attack

    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.

  • July 17, 2019

    'Kindness, Humility, Wisdom': Justices Remember Stevens

    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.

  • July 17, 2019

    The Stories They Tell About Justice Stevens

    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.

  • July 17, 2019

    Hear Justice Stevens In 5 Memorable Moments On The Bench

    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.

  • July 17, 2019

    Justice Stevens' High Court Legacy In 4 Charts

    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.

Expert Analysis

  • E-Discovery Experts Could Increase Fed. Court Efficiency

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    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.

  • Digital Asset Securities Statement May Be Missed Opportunity

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    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.

  • Remembering Justice Stevens As A Law Firm Leader

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    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.

  • Opinion

    NY Credit Card Securitization Class Action Misuses Madden

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    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.

  • Answers To Key Legal Finance Ethics Questions

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    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.

  • Federal Agencies Need A Uniform Record-Keeping Process

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    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.

  • The Role Of Dictionaries In Last Term's High Court Decisions

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    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.

  • How To Evaluate The Rise In Legal Employment

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    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.

  • Opinion

    The Business Case For Championing Diverse Legal Teams

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    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.

  • Getting AI Tools Litigation-Ready Is Crucial For Finance Cos.

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    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.

  • The Curious Case Of Crypto Valuations

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    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.

  • Rethinking The Tech-First Approach To Law Firm Solutions

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    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.

  • When Firms Can't Access Their Financial Advisers' Tech Tools

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    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.

  • Top 10 Techniques For Crafting A Dazzling Brief

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    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.

  • What The Howey Test Misses About Crypto Assets

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    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.