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Fintech
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March 23, 2026
Bankman-Fried Must Reveal Any Legal Help In Pro Se Motion
A federal judge in Manhattan on Monday ordered incarcerated FTX founder Sam Bankman-Fried to reveal how much, if any, attorney help he had in drafting his motion for a new trial, saying criminal defendants don't have the right to both represent themselves and be represented by counsel.
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March 23, 2026
Polymarket Bars Insider Trading In Latest Rule Book Update
Polymarket announced Monday that it's updating its rule book to address insider trading in event contracts, explicitly barring trades on stolen confidential information, illegal tips or by those who can "influence the outcome" of a prediction market.
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March 23, 2026
FINRA Fines Stash Capital For AML, Identity Theft Controls
The Financial Industry Regulatory Authority fined digital investing platform operator Stash Capital $450,000 for allegedly failing to properly review applications and detect suspicious account activity during a period of sharp customer growth.
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March 23, 2026
Tenn. Regulators To Challenge Kalshi Win At 6th Circ.
Tennessee regulators are asking the Sixth Circuit to review an order barring them from taking action against Kalshi's sports contracts, marking the latest event contract dispute to reach an appeals court.
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March 23, 2026
SEC's Atkins Promises Changes To Adviser Pay-To-Play Rule
U.S. Securities and Exchange Commission Chairman Paul Atkins indicated Monday that his agency plans to loosen the rules around political contributions made by investment advisers, saying that current regulations present a "trap for the unwary."
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March 23, 2026
Senators Push Bill To Ban Sports Bets On Prediction Markets
A bipartisan pair of senators are looking to shutter sports contracts on prediction market platforms such as Kalshi and Polymarket, introducing a bill Monday to clarify that these types of offerings are under the jurisdiction of state gambling laws, not the Commodity Futures Trading Commission.
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March 20, 2026
Ala. Co. Says $2M Bitcoin Mining Suit Must Be Arbitrated
An Alabama company targeted in a $2 million fraud lawsuit by a Singaporean firm that creates cryptocurrency via Bitcoin mining has told a federal judge that the disagreement should be arbitrated, saying the case is fundamentally a dispute over a contract that contains a mandatory arbitration clause.
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March 20, 2026
UBS Gets Final OCC Nod For US Arm To Be National Bank
The Office of the Comptroller of the Currency has granted final approval for UBS Group AG to convert its U.S. depository subsidiary into a national bank, a move the Swiss banking giant is touting as a boon for its stateside growth ambitions.
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March 20, 2026
BofA Hit With 2nd Class Suit Over Alleged $328M Crypto Scam
Bank of America and a New Jersey IRA‑LLC facilitator are facing a growing wave of litigation over their alleged roles in enabling the $328 million Goliath Ventures cryptocurrency scam, with two new federal class actions filed this week accusing them of helping steer retirement and investment funds into what prosecutors say was a massive Ponzi scheme.
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March 20, 2026
CFTC Gives Update On Crypto Collateral Expectations
The U.S. Commodity Futures Trading Commission gave registrants more information about its expectations around the use of crypto collateral in a Friday notice, which reminded futures commission merchants they must notify the agency's Market Participants Division if they plan to take advantage of a pilot program launched last year.
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March 20, 2026
5th Circ. Won't Rehear FDIC Enforcement Challenge
The Fifth Circuit said Friday that it won't revisit a constitutional challenge to the Federal Deposit Insurance Corp.'s use of in-house enforcement proceedings, turning down a petition that had drawn support from the U.S. Chamber of Commerce and civil liberties groups.
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March 20, 2026
Top SEC Enforcer Signals Continuity After Ryan Departure
The U.S. Securities and Exchange Commission's acting enforcement chief said Friday that the agency will continue to "focus on quality over quantity" when it comes to the cases it brings, projecting continuity with his predecessor's approach after her abrupt departure from the agency earlier this week.
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March 20, 2026
OCC Leaves Itself Flexibility On Stablecoin Yield Question
The Office of the Comptroller of the Currency made clear in its recent stablecoin rule proposal that it plans to bar issuers from paying yields to holders in some instances, but legal experts say the regulator appears to be leaving itself considerable room to decide which arrangements cross a line.
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March 20, 2026
Echo Payment Systems Files Ch. 7 Bankruptcy In Delaware
Echo Payment Systems Inc. has filed for Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware, seeking to liquidate its assets and wind down operations, and the company will not attempt to reorganize but instead pursue an orderly liquidation under court supervision.
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March 20, 2026
State Judge Temporarily Bars Kalshi Wagers In Nevada
A Nevada state judge temporarily blocked prediction market operator Kalshi from offering sports, election and entertainment related event contracts in the Silver State, finding regulators reasonably likely to prevail in an action alleging its event-based contracts violate gaming laws.
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March 20, 2026
White House Pushes Congress To Override State AI Laws
The White House directed Congress to preempt "burdensome" state laws on artificial intelligence in a legislative framework released Friday.
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March 20, 2026
Taxation With Representation: Clifford Chance, Davis Polk
In this Week's Taxation With Representation, Public Storage acquires National Storage Affiliates Trust, 3M teams up with Bain Capital to buy Madison Fire & Rescue, and Mastercard acquires stablecoin infrastructure firm BVNK.
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March 20, 2026
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen an ex-professional footballer revive a dispute with Charles Russell Speechlys, Virgin Media face a group data protection claim after hundreds of thousands of customers' personal details were exposed online for months, and Mishcon de Reya sued by a real estate private equity firm founded by a former Morgan Stanley executive.
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March 19, 2026
Mich. AG Wants Kalshi Enforcement Case Back In State Court
Michigan's attorney general has asked a federal judge to send an enforcement action against prediction market KalshiEX LLC back to state court, saying that the company was just trying to "buy time and make money" with its arguments for federal jurisdiction.
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March 19, 2026
AMG Bank Denies Duty In Synapse Fintech Collapse Case
AMG National Trust Bank on Thursday urged a Colorado federal judge to grant it a win in a suit attempting to hold it liable for monetary losses related to the collapse of fintech middleman Synapse Brokerage, saying it has no obligations to non-customers and it has cooperated with instructions to return nearly all the $110 million Synapse held in AMG accounts.
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March 19, 2026
Gemini Investor Sues Over Crypto Co.'s Post-IPO Biz Shift
Crypto exchange operator Gemini Space Station Inc. and its founders Tyler and Cameron Winklevoss were hit with a proposed shareholder class action accusing them of not disclosing before the firm's initial public offering its plans to shift focus to the prediction market, pull back on global operations and replace certain members of its leadership.
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March 19, 2026
MLB Deals With Polymarket, CFTC For Sports Market 'Integrity'
Major League Baseball said Thursday that it has struck an exclusive licensing deal with Polymarket to bolster the brand and promote the "integrity" of the baseball-focused prediction markets on the platform, and separately reached a first-of-its-kind information-sharing agreement with the U.S. Commodity Futures Trading Commission.
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March 19, 2026
Fed. Circ. Rejects Last Challenge To Squires' Discretion
The Federal Circuit on Thursday shot down Volkswagen's mandamus petition claiming that the U.S. Patent and Trademark Office director shouldn't have "unfettered discretion" to deny Patent Trial and Appeal Board challenges, closing the last of 14 related appeals.
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March 19, 2026
Fintech Co. Says It Caught Rival Stealing Code 'Red-Handed'
Financial technology company MyCard Inc. has filed a suit against rival Atomic FI Inc. in Delaware federal court alleging MyCard has uncovered direct evidence that the competitor copied proprietary software after planting a hidden "honeypot" string in MyCard's code.
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March 19, 2026
SEC Looks To Beef Up Rulemaking Staff For Reg S-K Reforms
The U.S. Securities and Exchange Commission is in the process of hiring additional staff to review the corporate disclosure process as it considers taking a bite out of the amount of information publicly traded companies have to disclose in their annual financial reports and ending quarterly reporting requirements, officials said Thursday.
Expert Analysis
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Drafting Tech Patents After USPTO's Eligibility Memos
Two recent U.S. Patent and Trademark Office memos on subject matter eligibility declarations provide an evidentiary playbook for artificial intelligence and software patent applications, highlighting how targeted, stand‑alone SMEDs that present objective, claim‑anchored facts can improve patent application outcomes, say attorneys at Reed Smith.
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How Lenders Can Be Ready For Disparate Impact Variabilities
Amid state attorneys general's and regulators' mixed messaging around disparate impact liability, financial institutions can take several steps to minimize risk, including ensuring compliance management aligns with current law and avoiding decisions that impede growth in business and service, says Elena Babinecz at Baker Donelson.
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Series
Judges On AI: Practical Use Cases In Chambers
U.S. Magistrate Judge Allison Goddard in the Southern District of California discusses how she uses generative artificial intelligence tools in chambers to make work more efficient and effective — from editing jury instructions for clarity to summarizing key documents.
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A Closer Look At California Financial Regulator's 2026 Agenda
California Department of Financial Protection and Innovation Commissioner KC Mohseni in recent remarks demonstrated the regulator's growing importance amid the Consumer Financial Protection Bureau's retreat by debuting expansive goals for 2026, including finalizing rulemaking for the state's digital asset law and expanding enforcement authority around consumer complaints, says John Kimble at Hinshaw.
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Series
Trail Running Makes Me A Better Lawyer
Navigating the muddy, root-filled path of trail marathons and ultramarathons provides fertile training ground for my high-stakes fractional general counsel work, teaching me to slow down my mind when the terrain shifts, sharpen my focus and trust my training, says Eric Proos at Next Era Legal.
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How Securities Class Action Deals Fare After Prelim Approval
An analysis of Institutional Shareholder Services data from the last 10 years shows that preliminarily approved class action settlements are unlikely to be denied in the final-approval stage, while procedural delays are more common than withdrawal or termination, says Rahul Chhabra at Charles River Associates.
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What Applicants Can Expect From Calif. Crypto License Law
With the July effective date for California's Digital Financial Assets Law fast approaching, now is a critical time for companies to prepare for licensure, application and coverage compliance ahead of this significant regulatory milestone that will reshape how digital asset businesses operate in California, say attorneys at MoFo.
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Malpractice Claim Assignability Continues To Divide Courts
Recent decisions from courts across the country demonstrate how different jurisdictions balance competing policy interests in determining whether legal malpractice claims can be assigned, providing a framework to identify when and how to challenge any attempted assignment, says Christopher Blazejewski at Sherin & Lodgen.
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What Clarity Act Delay Reveals About US Crypto Regulation
The Senate Banking Committee's decision to delay markup of the Clarity Act, which would establish a comprehensive federal framework for digital assets, illuminates the political and structural obstacles that shape U.S. crypto regulation, despite years of bipartisan calls for regulatory clarity, says David Zaslowsky at Baker McKenzie.
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How Latest Nasdaq Proposals Stand To Raise Listings Quality
Nasdaq's recent proposals stand to heighten both quantitative and qualitative standards for issuers, which, if approved, may bring investors stronger market integrity and access but also raise the listings bar, say attorneys at Norton Rose.
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Opinion
CFIUS Must Adapt To Current Foreign Investment Realities
To continue protecting the U.S.’ long-term strategic and economic interests, the Committee on Foreign Investment in the United States should implement practical enhancements that leverage technology, expertise and clear communication, and enable it to keep pace with evolving demands, says attorney Sohan Dasgupta.
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Weathering FINRA's Scrutiny Of Foreign Small-Cap Issuers
To prepare for the Financial Industry Regulatory Authority's recently announced targeted examinations, broker-dealers and firms that assist with IPOs abroad should consult years of FINRA guidance on managing the money-laundering and fraud risks inherent to foreign small-capitalization offerings, say Michael Watling and Elika Mohebbi at Seward & Kissel.
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Bipartisan Enforcement Is Rising In Consumer Finance
Activity over the past year suggests a bipartisan state enforcement wave is rippling across the consumer finance industry, which follows a blueprint set out by former Consumer Financial Protection Bureau Director Rohit Chopra, who notably now leads a Democratic Attorneys General Association working group, say attorneys at Hudson Cook.
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Series
Teaching Logic Makes Me A Better Lawyer
Teaching middle and high school students the skills to untangle complicated arguments and identify faulty reasoning has made me reacquaint myself with the defined structure of thought, reminding me why logic should remain foundational in the practice of law, says Tom Barrow at Woods Rogers.
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Series
Law School's Missed Lessons: Practicing Resilience
Resilience is a skill acquired through daily practices that focus on learning from missteps, recovering quickly without internalizing defeat and moving forward with intention, says Nicholas Meza at Quarles & Brady.