The Building Blocks of a Technology Deal
California recently amended its pre-licensing and continuing education requirements for mortgage loan originators (MLOs) licensed under the California Finance Lenders Law and the California Residential Lending Act. The...more
The New York State Department of Financial Services (the “Department”) recently published its proposed rules and regulations (the “Proposed Rules”) for vendors conducting business involving virtual currency. The Proposed...more
Despite what might be implied by this article’s title, Second Amendment rights have actually expanded in D.C. recently. Last month, in Palmer v. District of Columbia __F. Supp.2d__ (2014); 2014 WL 3702854 (D.D.C. July 24,...more
The sanctions directly affect companies involved in Russia's oil and gas industries by imposing new export license requirements....more
Licensing some new hydropower projects in the United States -- traditionally a lengthy process -- may soon become easier, as federal regulators have approved an experimental two-year process that may soon be used to license...more
New York, Ohio, Oklahoma, and Connecticut are the latest states to announce that they will be adopting the National SAFE Mortgage Loan Originator (MLO) Test with Uniform State Content. The New York Department of Financial...more
In a recent decision, the federal appellate court encompassing nine western states and two Pacific island jurisdictions held that a California law restricting the right of non-licensed contractors to recover for unpaid...more
It happened: Benjamin Lawsky, Superintendent of New York’s Department of Financial Services (DFS) announced the release of the DFS’s much-anticipated proposal for a BitLicense, stating “We have sought to strike an appropriate...more
As the first of their kind, the proposed regulations may add legitimacy to virtual currencies, but the new regulatory regime could stifle innovation and development.
On July 23, 2014, the New York State Department of...more
On July 8, Rhode Island Governor Lincoln Chafee signed HB 7997, which extends the state’s licensing requirements to include companies servicing a loan, directly or indirectly, as a third-party loan servicer. Under the...more
DESPITE significant public opposition in the UK to hydraulic fracturing (fracking) and shale gas development, there has been a upswing of activity and announcements in the first half of 2014.
In May, the British...more
One might have thought the biggest news in the digital currency world lately was Dell announcing that it was now accepting bitcoin. However, after a series of highly-publicized hearings in January, New York State rolled out...more
The Washington State Department of Health has promulgated a new rule clarifying the Department's authority to issue civil penalties against health carriers and third-party administrators. This rule, which is outside the...more
Whether appeals from Ontario Court of Justice decisions under the Provincial Offences Act are to be brought to the Court of Appeal or Superior Court depends on the procedural facts of the case. Justice Pardu of the Ontario...more
On July 17, the New York State Department of Financial Services (DFS) released the draft “BitLicense,” a proposed regulatory framework to license Virtual Currency Business Activity. The proposed regulations follow DFS...more
Under the Cayman Islands Directors Registration and Licensing Law 2014 (the “Law”), beginning June 4, 2014 directors of (a) “mutual funds” regulated under the Cayman Islands Mutual Funds Law (2013 Revision) and (b) companies...more
Today’s New York State Register includes a Notice of Proposed Rule Making from the New York State Department of Financial Services (the “NYSDFS”) regarding the regulation of virtual currency (“Regulation of the Conduct of...more
Yesterday, the New York Department of Financial Services (“NYDFS”) issued a proposed rule for public comment setting forth a novel and comprehensive “BitLicense” regulatory scheme for entities engaged in “Virtual Currency...more
California courts have variously described Business and Professions Code section 7031 as “draconian,” “harsh[ ]“ and “[u]njust[ ],” but nonetheless enforceable.
Section 7031 both prohibits unlicensed or improperly...more
Louisiana Governor Bobby Jindal recently signed HB 766 into law, which amends numerous provisions regulating creditors engaging in any consumer credit or deferred presentment transaction. Under the law, a creditor may not...more
The recent $21 million U.S. government sanctions settlement with Fokker Services BV (“Fokker”), a Dutch aerospace services provider, signifies an increasing appetite on the part of U.S. regulators to go after non-U.S....more
On June 13, the Michigan Supreme Court held that forwarding companies are collection agencies under state law and are subject to state licensing requirements. Badeen v. Par, Inc., No. 147150, 2014 WL 2686068 (Mich. Jun. 13,...more
The Statutory Instrument which sets out the transitional provisions for the new Gambling (Licensing and Advertising) Act 2014 (“Act”) has been published.
The Gambling (Licensing and Advertising) Act 2014 (Transitional...more
Yesterday, the Massachusetts Supreme Judicial Court (SJC) released its decision in Abdow v. Attorney General, handing a victory to proponents of a Massachusetts electoral initiative that seeks the repeal of the Massachusetts...more
The Gambling Commission has published the latest set of FAQs to assist applicants with the licence application process....more
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