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On September 16, 2022, the Treasury Department issued three reports pursuant to President Joseph Biden’s March 9 Executive Order 14067 on “Ensuring Responsible Development of Digital Assets.” The issuance of the reports was followed by Treasury Under Secretary for Domestic Finance Nellie Liang giving remarks at the Brookings Institution on September 22 explaining the reports…

October 27, 2022 New York

8:00am – 5:30pm ET

Register here.

Our third Artificial Intelligence & Financial Services Symposium will resume on October 27, 2022. As in 2019, we will focus on the legal, contractual and regulatory aspects of using AI to deliver financial services. Topics will include:

  • How Financial Institutions and Insurance Companies
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Globally, the total volume of fintech deal activity, which includes financings by private companies, IPOs, and M&A activity, has declined for three consecutive quarters.  Activity in the second quarter of 2022 was down 67% from the peak, which was recorded in the third quarter of 2021.  Financings by private companies in the sector were at…

On March 9, 2022, President Biden signed an executive order titled “Ensuring Responsible Development of Digital Assets” (the “Order”). The Order directs a broad range of federal agencies to recommend legislative and regulatory proposals to foster the development of, and address the risks presented by, digital assets and a central bank digital currency. This Legal…

On November 1, 2021, the President’s Working Group on Financial Markets (PWG) released its much-anticipated Report on Stablecoins. The Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency joined the PWG in issuing the report, which provides an overview of how stablecoins are created and operate, discusses the risks they present…

According to CB Insights’ latest State of Venture Report, global startup financing in Q2’21 reached $156.2 billion, a 157% year-over-year increase and a record quarter high.  U.S. startup funding accounted for the largest portion of the global quarter total, raising $70.4 billion, followed by Asia raising $42.2 billion.  Meanwhile, funding to China-based companies continued…

Global venture-backed fintech funding reached almost $23 billion in the first quarter of 2021, a 110% quarter-over-quarter increase, according to CB Insights’ latest report and webinar, The State of Fintech.  Accounting for the increased investment in fintech companies were 57 mega rounds, or financings, that raised over $100 million.  Overall, there were 614 fintech…

On February 26, 2021, the US Securities and Exchange Commission’s (“SEC”) Division of Examinations published a risk alert in connection with the offer, sale, and trading of digital assets that are securities. The risk alert provides observations made by Division of Examinations staff during examinations of broker-dealers, investment advisers, exchanges, and transfer agents. The risk…

On February 26, 2021, the Division of Examinations (“Division”) of the US Securities and Exchange Commission (“SEC”) published a risk alert regarding its continued focus on digital assets (“Risk Alert”). The term “digital asset,” as used in the Risk Alert, refers to an asset that is issued and/or transferred using distributed ledger or blockchain technology…

Fintech companies can face a variety of regulatory challenges under the federal securities laws, including one that often receives minimal attention, namely a company’s status as an “investment company” under the US Investment Company Act of 1940 (the “1940 Act”). Fintech companies that possibly meet the threshold definition of “investment company” under the 1940 Act,…