Licensing Rules

News & Analysis as of

New York Proposes First State Bitcoin Regulations

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

New Washington Rule Clarifies Authority to Issue Penalties Against TPAs

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

R. v. Nichols Gravel Ltd.: Appellate Jurisdiction on a Second Appeal from Provincial Offences Act Conviction

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

New York DFS Proposes First Comprehensive Regulatory Framework for Virtual Currency Businesses

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

Cayman Islands Directors Registration and Licensing Law: CIMA Requires Registration or Licensing of Fund Directors by September 3...

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

Proposed “Bitlicense” Regulations Published to the New York Register

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

New York DFS Proposes Sweeping Virtual Currency Licensing Scheme

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

Court of Appeal Ameliorates (a Bit) the "Harshness" of Business and Professions Code Section 7031

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 Amends Consumer Loan Licensing Requirements

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

U.S. Government Enters $21 Million Sanctions Settlement With Dutch Aviation Services Company Arising out of Voluntary...

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

Michigan Supreme Court Holds Forwarding Companies Are Collection Agencies Subject To Licensing Rules

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

Gambling (Licensing & Advertising) Act 2014: Statutory Instrument laid before Parliament

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

Court Ruling Puts Massachusetts Casinos At Risk

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

GB: POC licensing process – updated FAQs published

The Gambling Commission has published the latest set of FAQs to assist applicants with the licence application process....more

GB: Gambling Commission updates testing strategy guidance

In preparation for the implementation of the new point-of-consumption regulatory regime, the Gambling Commission has published an update to its testing strategy document, which aims to assist licence holders with compliance...more

Louisiana Requires Mortgage Loan Servicers To Obtain License

On May 29, Louisiana Governor Bobby Jindal signed HB 807, which requires companies that service mortgage loans in the state to obtain a state license. The bill amends the state’s Residential Mortgage Lender Law to require a...more

New York Announces Numerous Initiatives To Update Its Mortgage Licensing Processes, Rules, And Resources

On June 5, the New York Department of Financial Services (DFS) announced several changes to streamline the state’s mortgage licensing requirements and processes, and new mortgage-related resources. The DFS also is proposing...more

Maryland Expedites Licensing Process for Registered MLOs

Maryland Governor Martin O’Malley recently signed legislation that will expedite mortgage loan originator (MLO) licensing for registered MLOs. SB 1091 requires the Commissioner of Financial Regulation to waive the state...more

Connecticut Bill Revises Licensing Laws, Numerous Other Financial Services Laws

On June 3, Connecticut Governor Dannel Malloy signed HB 5353, which makes numerous unrelated changes to Connecticut’s laws governing financial services companies. For example, with regard to mortgage servicing, the bill: (i)...more

Cayman Islands Director Registration and Licensing Law

The Cayman Islands Director Registration and Licensing Law (2014) (the Law) was recently gazetted along with the related regulations which set out in more detail the registration requirements and fees. The Law came into...more

New York Set To Adopt Uniform State Test and Transitional MLO Licensing Initiative

The New York Department of Financial Services (DFS) has announced significant changes to its state mortgage loan originator (MLO) licensing process in an attempt to shorten and improve the approval process. The changes...more

Medical Marijuana in Canada: Weeding Through the Risks and Opportunities

In This Presentation: 1) History of legislative regime in Canada re: marijuana 2) Overview of Marihuana for Medical Purposes Regulations (MMPR’s) 3) How to become a licensed producer 4) Challenges for licensed...more

Managing Antitrust Risks in Patent Licensing – Post-Expiration Royalties and Package Licensing

Patent owners have considerable freedom to negotiate the subject matter, price, and term in licensing agreements. However, antitrust law has been used to limit this freedom when an arrangement is considered to exceed the...more

Maryland Expedites Licensing For Certain Mortgage Loan Originators

On May 15, Maryland Governor Martin O’Malley signed SB 1091, which expedites mortgage loan originator licensing in that state by requiring the Commissioner of Financial Regulation to waive the state’s criminal history records...more

Government OHSA advisors must be licenced paralegals, court decides

Employees of Ontario’s Office of the Worker Advisor and Officer of the Employer Advisor who provide legal services relating to the Occupational Health and Safety Act must be licensed paralegals, an Ontario judge has decided....more

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