Expert Analysis

• Series

  NY Banking Brief: All The Notable Compliance Updates In Q3

  

  Among the most significant developments in banking and financial services from last quarter, New York financial regulators implemented new commercial lending disclosure rules, issued revisions to cybersecurity regulations and published updated guidance on virtual currency listings, says Melissa Hall at Loeb & Loeb.

• Strategic Succession Planning At Law Firms Is Crucial

  

  Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.

• Opinion

  The Prohibition On Insider Trading Is Misleading

  

  Officials regularly describe the prohibition on insider trading as safeguarding shareholders’ property rights and protecting the investing public, but the law is misleading: It’s really an unjust ban on consensual trading, says Kevin Douglas at Michigan State University.

• Series

  In The CFPB Playbook: The Bureau In The Courts

  

  From defending the constitutionality of its funding and the scope of its rulemaking authority in the courts to releasing more nonbinding guidance, the Consumer Financial Protection Bureau had a busy summer. Orrick's John Coleman discusses all this and more in the second installment of quarterly bureau activity recaps by former CFPB personnel.

• Feds' Long-Term Debt Proposal Could Be Costly For US Banks

  

  Federal banking regulators recently released a proposal for long-term debt requirements for certain U.S. banking organizations, which would significantly increase the cost of capital for most covered organizations, and the burden would be exacerbated by other factors in the current lending environment, say Matthew Bisanz and Anna Pinedo at Mayer Brown.

• Calif. Climate Disclosure Bills Promise Challenges For Cos.

  

  Two novel climate disclosure bills recently passed by the California Legislature will pose challenges for many businesses — especially private companies that are less familiar with climate-related reporting obligations — and will require investments of significant time and effort in processes, procedures and personnel, say John Rousakis and Chris Bowman at O'Melveny.

• Maximizing Law Firm Profitability In Uncertain Times

  

  As threats of an economic downturn loom, firms can boost profits by embracing the power of bottom-line management and creating an ecosystem where strategic financial oversight and robust timekeeping practices meet evolved client relations, says Shireen Hilal at Maior Strategic Consulting.

• Fintech Cos. Should Consider Asset-Based Financing For RE

  

  Fintech companies that own or plan to acquire real property may be able to utilize asset-based financings to access more efficient and cost-effective forms of capital beyond traditional venture capital sources, say attorneys at Mayer Brown.

• End To CFPB's Discrimination Rule Is A Boon To Industry

  

  A Texas federal court's recent order, which vacated revisions to a Consumer Financial Protection Bureau manual that expanded its authority to punish purported discriminatory practices, provides much-needed relief to covered entities that experienced increased regulatory uncertainty and compliance costs under the updated standards, say attorneys at Husch Blackwell.

• What UCC Article 12 Adoption Means For Digital Assets

  

  Until it is widely adopted, both owners of digital assets and their secured lenders will need to exercise caution in jurisdictions that have adopted Uniform Commercial Code Article 12, and care will need to be taken when creating, transferring and managing digital assets to comply with its requirements, say Margo Tank and David Whitaker at DLA Piper.

• 5th Circ. Ruling Reminds Attys That CBP Can Search Devices

  

  The Fifth Circuit’s recent Malik v. Department of Homeland Security decision adds to the chorus of federal courts holding that border agents don’t need a warrant to search travelers’ electronic devices, so attorneys should consider certain special precautions to secure privileged information when reentering the U.S., says Jennifer Freel at Jackson Walker.

• Series

  ESG Around The World: European Union

  

  As the EU makes ESG regulation a priority, companies — both those based in the EU and others just doing business there — need to keep abreast of myriad new legislation that has either already taken effect or will in the near future, as noncompliance could result in fines, damages and director liability, say attorneys at Steptoe & Johnson.

• Avoiding The Ethical Pitfalls Of Crowdfunded Legal Fees

  

  The crowdfunding of legal fees has become increasingly common, providing a new way for people to afford legal services, but attorneys who accept crowdsourced funds must remember several key ethical obligations to mitigate their risks, say Hilary Gerzhoy and Julienne Pasichow at HWG.

• Tornado Cash Saga Presents Thorny Issues For Fintechs

  

  A recent Texas federal court ruling and a U.S. Department of Justice indictment concerning the cryptocurrency mixer service Tornado Cash raise novel and important issues regarding smart contracts that could complicate the development and nature of decentralized crypto projects, as well as the future of fintech business models, say attorneys at Venable.

• Opinion

  US Crypto Needs Regulatory Clarity In Order To Thrive

  

  As the crypto industry continues to mature, now is the time for the U.S. government to implement a clear and consistent regulatory framework in order to weed out bad actors and support industry growth, fairer access, stability, innovation and consumer protection, says Gavin Michael at Bakkt.