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Fintech
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March 06, 2026
FinCEN Hits Canaccord With Record $80M Broker-Dealer Fine
Canaccord Genuity Group Inc.'s broker-dealer arm Friday agreed to pay $80 million in settlements with three financial regulators for "widespread compliance failures" that allowed some securities fraud schemes to go undetected, with the broker-dealer admitting it willfully violated the Bank Secrecy Act.
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March 06, 2026
Polymarket Pushes For Block On Mich. Gambling Enforcement
Polymarket US urged a Michigan federal judge to block the Great Lakes State from initiating any illegal gambling enforcement action against it, saying its prediction market exchange falls entirely under the purview of the Commodity Futures Trading Commission.
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March 06, 2026
SEC Ordered To Release Info On Text Messaging Sweeps
A Florida federal judge has harshly criticized the U.S. Securities and Exchange Commission's litigation tactics as an "acute embarrassment" to the agency as he ordered it to turn over information about the penalties imposed on financial institutions whose employees discussed business information on their personal devices.
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March 06, 2026
Lost Mail Helps State Street Exit Judgment In Crypto Case
A North Carolina federal judge undid a default judgment ruling against investment management firm State Street Global Advisors, finding the investor who sued claiming he lost $650,000 trying to transfer cryptocurrency to a digital wallet named the wrong defendant, and a summons to the firm was lost.
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March 06, 2026
Kalshi Is Sued Over 'Death Carveout' For Khamenei Trades
Prediction market Kalshi defrauded traders who bet that Iran's Supreme Leader Ayatollah Ali Khamenei would leave office before March 1, 2026, by invoking an improperly disclosed "death carveout" and refusing to pay full winnings to traders when Khamenei was killed in recent U.S. and Israeli military strikes, according to a suit in California federal court.
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March 06, 2026
Bank Beats Sanctions Bid In Jail Debit Card Fees Suit
Central Bank of Kansas City has been ordered to produce more documents related to a prepaid debit card program for formerly incarcerated people in an excessive fee class action, but will not face monetary sanctions for its failure to comply fully with a previous court order.
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March 06, 2026
Investors Accuse Alston & Bird Of Aiding $328M Crypto Fraud
Several investors have brought a Florida federal proposed class action alleging legal malpractice against Alston & Bird LLP, accusing the law firm of drafting joint venture agreements that were used to aid a $328 million cryptocurrency scam.
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March 06, 2026
Sullivan & Cromwell Gets Another $1.6M In Linqto Ch. 11 Fees
A Texas bankruptcy judge agreed Friday to approve more than $1.6 million in fees for defunct investment platform Linqto's special Chapter 11 counsel from Sullivan & Cromwell, commending the firm's work and overruling an objection from creditors.
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March 06, 2026
Sidley Adds Payments Expert From Wilson Sonsini
Sidley Austin LLP announced that it has hired a finance and financial technology attorney and former senior counsel at the Federal Reserve Board of Governors from Wilson Sonsini Goodrich & Rosati PC, touting her experience advising companies across the payments ecosystem.
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March 05, 2026
Fintech Sues Deutsche Bank, Pathward Over Pharma Flags
A self-described barter-based payment platform sued Deutsche Bank AG and Pathward NA, alleging it was improperly placed on an industry blacklist following the banks' assertions it was "transaction laundering" for companies selling gray-market peptides.
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March 05, 2026
Tokenized Securities Get Same Capital Treatment, Feds Say
Federal banking regulators said Thursday that the capital treatment of so-called tokenized securities is the same as their traditional counterparts, emphasizing that bank capital rules are "technology neutral" and don't change when a security is recorded on a distributed ledger.
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March 05, 2026
SEC To Settle Justin Sun Crypto Wash Trading Case
The U.S. Securities and Exchange Commission said Thursday it has reached a settlement with Tron founder Justin Sun to end a closely watched, Biden-era enforcement action, with one of Sun's companies set to pay a $10 million penalty for allegedly facilitating wash trading of the cryptocurrency TRX.
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March 05, 2026
Mich. AG Accuses Kalshi Of Unlicensed Gambling
Michigan is the latest state to take action against prediction-market exchanges, accusing KalshiEX LLC of running an unlicensed online sports betting platform in a lawsuit removed to federal court on Thursday.
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March 05, 2026
Robinhood Sues Mich. AG Over Event Contracts
Robinhood Derivatives LLC has filed suit against the Michigan attorney general and state gaming regulators, asking a federal judge to bar the state from using its gambling laws to target federally regulated sports event contracts.
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March 05, 2026
King & Spalding Brings Back Business Atty To NYC Office
A former trial attorney for the U.S. Securities and Exchange Commission has left the public sector to return to his post as a litigator at King & Spalding LLP's New York City office.
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March 05, 2026
SpaceX Taps Citigroup For Planned IPO, Plus More Rumors
SpaceX has added Citigroup to its lineup of banks leading its planned blockbuster initial public offering, Thrive Capital and Andreessen Horowitz are co-leading an investment in defense company Andural Industries that could value it at $60 billion, and Indian payments platform PhonePe is preparing plans for an initial public offering that would value it at $10.5 billion.
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March 05, 2026
Mass., Polymarket Agree To Truce Amid Kalshi Appeal
Massachusetts enforcers agreed not to target Polymarket for now in exchange for the prediction market pausing its lawsuit against the state while rival Kalshi appeals a ban on offering sports-related wagers in the commonwealth.
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March 04, 2026
CSBS Chief Warns Of OCC Charter, Preemption Overreach
The head of the Conference of State Bank Supervisors fired a warning shot at the Office of the Comptroller of the Currency on Tuesday, accusing the agency of stretching its chartering and preemption powers too far and signaling that states could challenge the moves in court.
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March 04, 2026
Veterans Fight BofA Interest Suit Dismissal Recommendation
Three veterans told a North Carolina federal court Tuesday that a magistrate judge was wrong to recommend tossing their proposed class action accusing Bank of America of violating an interest cap law for military service members, arguing their claims under the Servicemembers Civil Relief Act are unambiguous.
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March 04, 2026
SEC Takes Step Toward Issuance Of Crypto 'Taxonomy'
The U.S. Securities and Exchange Commission has sent its forthcoming "token taxonomy" to the Office of Information and Regulatory Affairs for review, marking a procedural step toward issuing guidance on which crypto assets and transactions trigger securities laws.
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March 04, 2026
PE Firm Norada Faces Investor Suits Over $92M Ponzi Scheme
Groups of investors from multiple states have filed a series of lawsuits against Norada Capital Management LLC in Wyoming federal court, alleging the private equity fund defrauded them out of millions of dollars as part of a Ponzi scheme that the firm's managing member pled guilty to.
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March 04, 2026
Polymarket Challenges Mich.'s Gambling Law Enforcement
Polymarket US filed suit Wednesday seeking to block Michigan from enforcing its gambling laws against the prediction-market exchange, marking the latest in the fight between prediction-market exchanges and state regulators that is playing out across the country.
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March 04, 2026
Crypto Co. Kraken Secures Fed Master Account Access
The Federal Reserve Bank of Kansas City on Wednesday cleared Wyoming-chartered Kraken Financial for a "limited purpose" master account, becoming the first crypto bank to gain access to the Federal Reserve's payment rails in a move that brought outcry from banking groups.
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March 03, 2026
OCC Clears Faster Merger, Licensing Path For Smaller Banks
The Office of the Comptroller of the Currency on Tuesday expanded fast-track merger review and licensing pathways for banks under $30 billion in assets, its latest move to advance the Trump administration's deregulatory push for so-called community banks.
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March 03, 2026
7th Circ. Expedites Bank Appeal Of Ill. Swipe-Fee Law
The Seventh Circuit granted banking and credit union trade groups' bid to fast-track their appeal over the Illinois Interchange Fee Prohibition Act after they asked to schedule the case for a decision before the law banning swipe fees on tax and tip payments takes effect July 1.
Expert Analysis
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Series
The Biz Court Digest: Dispatches From Utah's Newest Court
While a robust body of law hasn't yet developed since the Utah Business and Chancery Court's founding in October 2024, the number of cases filed there has recently picked up, and its existence illustrates Utah's desire to be top of mind for businesses across the country, says Evan Strassberg at Michael Best.
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4 Quick Emotional Resets For Lawyers With Conflict Fatigue
Though the emotional wear and tear of legal work can trap attorneys in conflict fatigue — leaving them unable to shake off tense interactions or return to a calm baseline — simple therapeutic techniques for resetting the nervous system can help break the cycle, says Chantel Cohen at CWC Coaching & Therapy.
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3 Key Ohio Financial Services Developments From 2025
Ohio's banking and financial services sector saw particularly notable developments in 2025, including a significant Ohio Supreme Court decision on creditor disclosure duties to guarantors in Huntington National Bank v. Schneider, and some major proposed changes to the state's Homebuyer Plus program, says Alex Durst at Durst Kerridge.
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Series
Playing Tennis Makes Me A Better Lawyer
An instinct to turn pain into purpose meant frequent trips to the tennis court, where learning to move ahead one point at a time was a lesson that also applied to the steep learning curve of patent prosecution law, says Daniel Henry at Marshall Gerstein.
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OCC Rulemaking May Clear Haze Around Trust Banks' Scope
A recent Office of the Comptroller of the Currency proposal at last eliminates uncertainty around whether national trust banks can engage in nonfiduciary activities, but it does not address which activities are permissible or whether a minimum amount of fiduciary activity is required, say attorneys at Davis Polk.
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Digital Assets May Be In For A Growth Spurt In 2026
All signs point to an acceleration in digital asset product and service innovation throughout 2026, and while questions of first impression still need to be addressed, some legal issues will be clarified, spurring developments namely on the tokenization and stablecoin fronts, say attorneys at Skadden.
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Series
Judges On AI: How Judicial Use Informs Guardrails
U.S. Magistrate Judge Maritza Dominguez Braswell at the U.S. District Court for the District of Colorado discusses why having a sense of how generative AI tools behave, where they add value, where they introduce risk and how they are reshaping the practice of law is key for today's judges.
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Crypto-Asset Strategy For Corporate Legal Leaders In 2026
As digital assets experience increased regulatory clarity, institutional adoption and technological maturity, in-house legal leaders must build strong policies this year and stay engaged with the evolving market to help their companies seize the opportunities of the digital asset era while managing the risks, say attorneys at Foley & Lardner.
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Cybersecurity Must Remain Financial Sector's Focus In 2026
In 2026, financial institutions face a wave of more prescriptive cybersecurity legal requirements demanding clearer governance, faster incident reporting, and stronger oversight of third-party and AI-driven risks, making it crucial to understand these issues before they materialize into crises, say attorneys at Sidley.
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2026 Int'l Arbitration Trends: Next Steps In Age Of AI, Crypto
Parties' use of artificial intelligence and blockchain technologies will continue in 2026, and international arbitrators will be called upon to evolve by building expertise in blockchain functionality, cryptography and decentralized finance protocols, and understanding the power and limitations of large language models, say attorneys at Cleary.
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Presidential Pardon Brokering Can Create Risks For Attys
The emergence of an apparent “pardon shopping” marketplace, in which attorneys treat presidential pardons as a market product, may invite investigative scrutiny of counsel and potential criminal charges grounded in bribery, wire fraud and other statutes, says David Klasing at The Tax Law Offices of David W. Klasing.
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Series
Adapting To Private Practice: 5 Tips From Ex-SEC Unit Chief
My move to private practice has reaffirmed my belief in the value of adaptability, collaboration and strategic thinking — qualities that are essential not only for successful client outcomes, but also for sustained professional satisfaction, says Dabney O’Riordan at Fried Frank.
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Series
Law School's Missed Lessons: How To Start A Law Firm
Launching and sustaining a law firm requires skills most law schools don't teach, but every lawyer should understand a few core principles that can make the leap calculated rather than reckless, says Sam Katz at Athlaw.
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5 Compliance Takeaways From FINRA's Oversight Report
The priorities outlined in the Financial Industry Regulatory Authority's recently released annual oversight report focus on the organization's core mission of protecting investors, with AI being the sole new topic area, but financial firms can expect further reforms aimed at efficiency and modernization, say attorneys at Armstrong Teasdale.
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How Payments Law Landscape Will Evolve In 2026
After a year of change across the payments landscape, financial services providers should expect more innovation and the pushing of regulatory boundaries, but should stay mindful that state regulators and litigation will continue to challenge the status quo, say attorneys at Troutman.