Fintech

  • January 24, 2020

    BakerHostetler Nabs Philly Atty For New Digital Asset Group

    BakerHostetler announced the addition of an ex-Lewis Brisbois Bisgaard & Smith LLP partner in Philadelphia as part of the firm's new cross-disciplinary digital assets and data management practice group.

  • January 24, 2020

    4 Firms Shape Wex's $1.7B Play For Pair Of Payments Cos.

    Payments and technology company Wex has agreed to buy privately held peers eNett and Optal for a total of roughly $1.7 billion, the companies said Friday, in an agreement shaped by Clifford Chance, WilmerHale, Wachtell Lipton and Herbert Smith.

  • January 23, 2020

    Chase Card Interest Case In Peril After Dismissal Endorsed

    A New York federal judge has given his thumbs-down to a Chase credit card holder's proposed class action that banking industry groups have warned could upend trillions of dollars in asset-backed securitizations, concluding that the state-law usury claims at issue in the case are preempted.

  • January 23, 2020

    Dems Criticize 'Dark Money' In CFPB High Court Case

    A trio of Senate Democrats took aim at what they say are "plainly inadequate" transparency rules for amicus briefs at the U.S. Supreme Court, saying a wave of recent court filings opposing the Consumer Financial Protection Bureau are the result of "a small and powerful cabal of self-interested entities."

  • January 23, 2020

    Ex-Trader Seeks Time Served in Chicago Spoofing Case

    Federal prosecutors and a former trader who pled guilty to spoofing on the Chicago Mercantile Exchange have asked an Illinois federal court for a prison sentence that would send him home soon and credit him with time already served in American and Australian custody.

  • January 23, 2020

    AT&T Says $1.8M Crypto Theft Claims Have 'Critical Holes'

    AT&T is defending its motion to dismiss claims that it failed to prevent the theft of $1.8 million in cryptocurrency, telling a California federal court that a technology consultant's arguments contain "critical holes" that sink his complaint.

  • January 23, 2020

    Class Fights To Keep Cert. In Crypto 'Miners' Ponzi Case

    A class of purported victims of a cryptocurrency mining Ponzi scheme asked a Connecticut federal judge not to take away its certification at the behest of a crypto investor facing secondary liability claims over the scheme.

  • January 23, 2020

    Deals Rumor Mill: Univision, Eurazeo, Tegna

    Suitors are lining up to bid on Spanish-language media company Univision, which has a market value of $12.4 billion, Eurazeo is readying a sale of its €2 billion payments business, and multiple Tegna investors want the U.S. broadcasting company to pursue a merger or sale. Here, Law360 breaks down these and other deals rumors from the past week that you need to be aware of.

  • January 23, 2020

    Paul Hastings, Kirkland Lead Moody's $700M Deal For RDC

    Moody’s Corp. said Thursday it plans to buy Regulatory DataCorp., which provides risk and compliance intelligence, data and software, from Vista Equity Partners for $700 million, in a deal led by Paul Hastings and Kirkland. 

  • January 22, 2020

    Telegram Calls SEC's $1.7B Suit 'Fundamentally Flawed'

    The U.S. Securities and Exchange Commission and Telegram took aim at each other's arguments in their blockbuster $1.7 billion face-off, with the messaging company saying there are "glaring" flaws in the agency's argument that the company engaged in an unregistered securities offering of its Gram tokens.

  • January 22, 2020

    Congress Weighs In On SEC Disgorgement Power Challenge

    Two dozen members of Congress told the U.S. Supreme Court on Wednesday that stripping the U.S. Securities and Exchange Commission's power to seek disgorgement in civil cases would upend decades of legislation and buck sound precedent undergirding the nation's securities laws.

  • January 22, 2020

    21 States Urge OCC To Withdraw Proposed Madden Fix

    Twenty-one state attorneys general told the U.S. Office of the Comptroller of the Currency on Tuesday that its proposed rule addressing the fallout from the Second Circuit's Madden decision would enable predatory lending and goes beyond its statutory authority.

  • January 22, 2020

    Comptroller Balks At Calls For Extra Time On Lending Rules

    The head of the Office of the Comptroller of the Currency said Wednesday that he is not inclined to give more time for the public to weigh in on a proposed overhaul of regulations requiring banks to lend in underserved communities, despite objections from Democratic lawmakers and advocacy groups that the rules changes are being rushed through.

  • January 22, 2020

    Trading Firm To Pay $1M To End Spoofing Probe

    An Australian trading firm will pay a total of $1 million to resolve spoofing claims and avoid criminal prosecution over an alleged yearslong market manipulation scheme by one of its former traders, the U.S. Department of Justice and the Commodity Futures Trading Commission said Tuesday.

  • January 22, 2020

    Kik Ordered To Tell SEC About Recent Business Endeavors

    A Manhattan federal judge on Wednesday directed Kik Interactive Inc., a mobile messaging concern transitioning into cryptocurrency management, to provide the U.S. Securities and Exchange Commission with details about how its business has changed since 2018.

  • January 22, 2020

    Default Judgment In Cryptocurrency Scam Case Reversed

    A California federal judge on Tuesday reversed default judgment against two companies, saying that they should be considered alongside their purported principal in an action alleging they defrauded an elderly couple with promises of two- and threefold returns on cryptocurrency investments.

  • January 22, 2020

    Former Eversheds Litigator Shaping IRS Enforcement Efforts

    As the IRS ramps up its enforcement on syndicated conservation easements, cryptocurrency transactions and microcaptive insurance arrangements, the efforts will be guided by a veteran Eversheds Sutherland litigator who once squared off against the agency over tax shelter transactions.

  • January 21, 2020

    Grayscale 1st Crypto Investor To Get SEC Reporting Co. Label

    Grayscale Bitcoin Trust has become the first "digital currency investment vehicle" to successfully reach the status of an SEC reporting company after its registration Form 10 with the U.S. Securities and Exchange Commission was deemed effective, Grayscale Investments said Tuesday.

  • January 21, 2020

    Vodafone Quits Facebook-Led Libra Association

    British telecom conglomerate Vodafone Group PLC has become the first member company to quit the Libra Association since the Facebook-led digital currency project's official formation in October, the company confirmed to Law360 on Tuesday.

  • January 21, 2020

    Blockchain Groups Ask To Weigh In On $1.7B Telegram Case

    Two amicus briefs were filed Tuesday in the U.S. Securities and Exchange Commission's case against messaging app Telegram by industry groups focused on blockchain and digital assets, urging a New York federal judge not to rule with too broad a brush on the question of whether the company's digital tokens are securities.

  • January 21, 2020

    Crypto Co. Can't Have More Time To Serve Foreign Firms

    A magistrate judge on Tuesday denied Florida cryptocurrency company United American Corp.’s request for another extension of its deadline to serve its antitrust suit on foreign crypto firms, saying the company has dragged its feet and does not deserve additional time.

  • January 21, 2020

    PennyMac Says 'Monopolist' Software Co. Must Face Lawsuit

    PennyMac Loan Services is pushing back on Black Knight Inc.’s bid to dismiss antitrust claims in a recent dispute between the two companies, calling the mortgage servicing software provider “the very definition of a 'monopolist.’”

  • January 21, 2020

    Central Banks Team Up To Study Use For Digital Currencies

    The Bank of England said Tuesday it is working with five central banks from across the globe to explore the merits of creating digital currencies, as Facebook prepares to launch its own virtual money.

  • January 17, 2020

    Gemini Rolls Out $200M Insurance Policy For Crypto Clients

    Cameron and Tyler Winklevoss’ cryptocurrency exchange Gemini Trust Company LLC has launched its own insurance carrier to shield customers against the loss of their holdings on the company’s offline servers, with coverage of up to $200 million.

  • January 17, 2020

    Bloomberg Beats AI Company’s Trade Secret Theft Suit

    A New York federal judge handed a victory to Bloomberg by dismissing the remainder of artificial intelligence firm iSentium’s suit accusing the financial and media company of misappropriating its trade secrets and breaking contract terms.

Expert Analysis

  • ABA Rules For Departing Attys Set Unprecedented Limits

    Author Photo

    Groundbreaking rules from the American Bar Association impose new standards on how law firms can govern departing lawyers’ contact with clients, placing major restrictions on this ubiquitous practice, say Amy Richardson and Hilary Gerzhoy at Harris Wiltshire.

  • Nissan Ex-CEO Illustrates Do's And Don'ts Of Image Repair

    Author Photo

    Lawyers can draw a number of useful lessons about reputation management from the efforts of former Nissan executive Carlos Ghosn — who recently escaped house arrest in Tokyo — to restore his sullied reputation, says Elizabeth Ortega at ECO Strategic Communications.

  • How Associate Life Has Evolved Over The Past Decade

    Author Photo

    During the last 10 years, the need to embrace change was fundamental for law firms, and that change affected associates in many ways — most, but not all, for the better, says Brad Kaufman, co-president of Greenberg Traurig.

  • Series

    Judging A Book: Dyk Reviews 'Democracy And Equality'

    Author Photo

    In their new book "Democracy and Equality: The Enduring Constitutional Vision of the Warren Court," Geoffrey Stone and David Strauss provide valuable context for U.S. Supreme Court decisions under Chief Justice Earl Warren that have profoundly affected the country, but their overly protective attitude sometimes obscures reality, says Federal Circuit Judge Timothy Dyk.

  • SEC's Audit Proposal May Bolster Compliance, Competition

    Author Photo

    A newly proposed rule from the U.S. Securities and Exchange Commission on public companies' relationships with their auditors could make the current auditor independence framework easier to comply with, and mitigate competition pressure from issues that should not reasonably threaten an auditor’s objectivity, say Charles Smith and Andrew Fuchs at Skadden.

  • The Pitfalls Of SEC's Crypto Regulation By Enforcement

    Author Photo

    Absent clear rules to govern cryptocurrency, the U.S. Securities and Exchange Commission’s continued regulation by enforcement could result in industry stagnation, increased global competition, problematic messaging and due process issues, say attorneys at Quinn Emanuel.

  • 7 Insider Tips For Working With In-House Counsel

    Author Photo

    For outside firms wondering how to best support busy in-house lawyers, several practices can help navigate critical legal issues and novel business challenges while strengthening the working relationship, says Virginia Hudson, associate general counsel at Capital One.

  • 50 Years Later, Interpretive Challenges Remain For RICO

    Author Photo

    In the 50 years since the Racketeer Influenced and Corrupt Organizations Act was passed, courts' attempts to clarify the statute have had some success, but many interpretive dilemmas remain unresolved, says Randy Gordon of Barnes & Thornburg.

  • Ransomware’s Year-End Thank You Note To Bitcoin

    Author Photo

    Last year's surge in ransomware attacks got a boost from Bitcoin, which helped cybercriminals carry out their extortion schemes with much greater ease, efficiency and speed, says cybersecurity consultant John Reed Stark.

  • Opinion

    States Should Not Follow ABA On Attorney Conduct Rules

    Author Photo

    Because the American Bar Association's new rule on diversity continues to use the Model Rules of Professional Conduct as a cultural bludgeon, states should create independent codes limited to constitutionally valid purposes of attorney regulation, says Bradley Abramson of Alliance Defending Freedom.

  • How Courts And Litigants Can Benefit From Special Masters

    Author Photo

    As we approach the first anniversary of the American Bar Association's adoption of guidelines for the appointment and use of special masters in civil litigation, retired U.S. District Judge Shira Scheindlin, now at Stroock, explains how special masters can help parties and courts with faster decision-making and subject matter expertise.

  • Uber Policy Calls For Refresher On ABA Confidentiality Rules

    Author Photo

    Uber's recent policy update allowing drivers to audio-record passenger rides is a reminder for lawyers to observe the highest standard of care in protecting client information under the American Bar Association's confidentiality model rule, says Paul Boehm at Williams & Connolly.

  • FDIC Proposal Offers Welcome Clarity On Brokered Deposits

    Author Photo

    While the Federal Deposit Insurance Corp.'s proposed rule addressing whether deposits qualify as brokered deposits provides much-needed clarity on the status of certain funding arrangements and establishes new administrative processes, some changes raise more questions than they answer, say attorneys at Arnold & Porter.

  • Rethinking Corporate Crisis And Litigation Communications

    Author Photo

    While conventional wisdom among attorneys may be that no response is the safest response during a corporate crisis, recent examples demonstrate the consequences of failing to share timely and relevant information with key audiences, says Aidan Ryan of Goldberg Segalla.

  • Regulatory, Legal Trends In The Blockchain Space For 2020

    Author Photo

    As the number of organizations providing services to the blockchain ecosystem increases, the alignment of blockchain technologies with data protection regulation and the types of contractual relationships in private blockchains are two areas to keep an eye on this year, says Jonathan Emmanuel of Bird & Bird.