Licensing Rules

News & Analysis as of

NY BitLicense Update: 45 Days to Apply

After almost a year of discourse and revision, New York’s Department of Financial Services’ final “BitLicense” regulation has been published in the New York State Register and an application has been made available. This...more

Minnesota Joins 9-State Compact Expediting Telemedicine Across State Lines

Effective July 1, 2015, Minnesota will join the Interstate Medical Licensure Compact, a group attempting to expedite the licensing of physicians seeking to provide telemedicine services to patients located in other states....more

August 10 Deadline Set for New York Virtual Currency Firms to Apply for BitLicense

On June 24, the New York State Register published the Department of Financial Services’ BitLicense framework, requiring companies and individuals who provide virtual currency services involving New York or a New York Resident...more

New York Employment Law Roundup: June 2015

Today’s New York employment law landscape is increasingly dynamic, with a constant stream of newly issued legislation and judicial opinions. To keep our readers current on the latest developments, we will share regular...more

Court Of Appeal Holds “May” Does Not Mean “May Only”

California requires persons who are engaged in the business of making consumer loans or commercial loans to be licensed under the Finance Lenders Law, unless exempt.  Cal. Fin. Code § 22100.  The CFLL includes the...more

A Recent Case's Impact on the Determination of Contractor Licensure

A Florida court of appeals recently ruled that a contractor is considered licensed if it is associated with a qualifying agent licensed to perform the contract work on the effective date of the contract. Other courts...more

Nevada Assembly Passes Legislation Relating to Mortgage Lending and Servicing Regulation, Licensing and Fees

On June 9, Governor Brian Sandoval (R-NV) signed into law AB 480, which revises existing law concerning the licensing and regulation of escrow agents and escrow agencies. The law also authorizes a wholesale lender from...more

Disgorgement Penalty for Unlicensed Contractors in California

California has some of the toughest penalties in the country for unlicensed contractors. An unlicensed contractor is not just a contractor without a license, but could also be a contractor who is not correctly licensed or a...more

Non-U.S. Investment Funds and Managers: Regulatory Framework for Raising Capital in the United States

U.S. regulation of money managers, including non-U.S. managers, and the funds they manage is a complex regime that has changed significantly since the implementation of the Dodd-Frank Reform and Consumer Protection Act of...more

Texas Adds Exemptions to Texas SAFE Act Licensing Requirements

Texas has amended its provisions relating to exemptions from the applicability of the Texas SAFE Act for certain nonprofit organizations and their residential mortgage loan originators (MLOs). Under the amendment, a nonprofit...more

Alert: Gainful Employment Regulations: Recent Updates from the Department of Education

The Department of Education published another announcement in its series of Electronic Announcements ("EAs") last week, as it prepares to implement the new Gainful Employment ("GE") regulations. Those regulations are...more

New Rhode Island Banking Regulations to Promote Uniformity

Rhode Island has repealed certain banking regulations and replaced them with new regulations in order to promote uniformity. Banking Regulations 98-14 “Licensees”, 98-14.1 “Lenders and Loan Brokers”, and 98-14.4 “Check...more

The NYDFS Finalizes its BitLicense Proposal

On June 3, 2015, the New York Department of Financial Services (“NYDFS”) issued a final rule regarding its “BitLicense” regulatory regime (“Final Rule”). The Final Rule follows an initial proposal from July 2014 and a revised...more

Ferry Service Between The United States And Cuba—Imminent Or Not?

Recent decisions by the Office of Foreign Assets Control (OFAC) of the Department of Treasury have increased the prospects for regular air and vessel service to and from Cuba. Those decisions do not open the floodgates for...more

NYDFS Releases Final Rules for Licensing Virtual Currency Businesses in New York

After multiple proposals and significant industry comment, the NYDFS has released a final “BitLicense” framework that establishes a comprehensive licensing and regulatory regime for New York businesses engaged in activities...more

US Department of Commerce proposes licensing requirements for export and transfer of cybersecurity items

In December 2013, the Wassenaar Arrangement - a group of 41 countries including the United States - agreed to add so-called cybersecurity items to its list of controlled dual-use items. On May 20, 2015, the Department of...more

Nevada Set to Regulate Nightclubs in Gaming Establishments

In the current legislative session in Nevada, a bill sponsored by the Nevada State Gaming Control Board has been amended to promote the regulation of nightclubs and nightclub employees that operate on a gaming premise. In...more

NY DFS Reveals Final BitLicense Requirements for Digital Currency Firms

On June 3, New York’s departing superintendent of financial services, Benjamin Lawsky, revealed that the agency has adopted final regulations of the BitLicense, the regulatory framework in which digital currency firms operate...more

Oklahoma Amends SAFE Act

Governor Mary Fallin signed SB-377 on May 12, amending provisions relating to the Oklahoma SAFE Act (the Act). The amendment clarifies the Act by adding references to “mortgage lenders” and “servicing” throughout the Act and...more

Strict Controls Proposed on the Export of Cybersecurity Items

On May 20, 2015, the Commerce Department Bureau of Industry and Security (BIS) proposed to establish controls on the export of cybersecurity items. These items would be classified under new Export Control Classification...more

Bitcoin Basics for Corporate Counsel

Bitcoin, the online “cryptocurrency,” is not just for anti-government doomsday fanatics and drug dealers. Seen everywhere from SEC filings, to state legislature hearings, to an episode of The Good Wife, it is both an...more

OCC Issues Final Rule on Integration of Federal Savings Association - National Bank Licensing Rules

Title III of the Dodd-Frank Act transferred to the OCC all functions of the former Office of Thrift Supervision (“OTS”) and the Director of the OTS relating to federal savings associations. 12 U.S.C. § 5412(b)(2)(C). This...more

BIS Proposes Broad New Licensing Requirements for Exports Involving Cybersecurity Technology

In December 2013, members of the Wassenaar Arrangement, a group of 41 countries, which includes the United States, agreed to broaden its list of dual-use controls to include certain cybersecurity items. The new items added to...more

Gaming Legal News: Volumn 8, Number 10

MEDICAL MARIJUANA AND GAMING: TO DIVEST OR NOT TO DIVEST? Even as more and more states pass laws permitting sales and use of medical and recreational marijuana, marijuana remains an illegal Schedule I drug under the...more

GB: Revised LCCP comes into effect

A new version of the Gambling Commission’s LCCP comes into force recently for all operators and personal licence holders (with certain exceptions, as set out in the document)... ..The revised LCCP was first published...more

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