On December 3, the United States Consumer Financial Protection Bureau (“CFPB”) published a notice of proposed rulemaking to revise the Remittance Rule (“Proposed Rule”) and is accepting comments until January 21, 2020. ...more
November will see several opportunities to discuss privacy matters in Europe and meet with The Privacist contributors within the K&L Gates’ platform, in connection with the International Association of Privacy Professionals...more
11/11/2019
/ California Consumer Privacy Act (CCPA) ,
Cybersecurity ,
Data Collection ,
Data Privacy ,
Data Processors ,
Data Protection ,
Data Security ,
EU ,
EU-US Privacy Shield ,
General Data Protection Regulation (GDPR) ,
Personal Data
The Financial Action Task Force (“FATF”), an intergovernmental organization aimed at combatting money laundering and thwarting terrorist financing, recently issued final recommendations for the regulation of...more
On April 25th, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued a request for information (“RFI”) asking for input about the scope of its Remittance Rule (the “Rule”), whether the Bureau should exempt...more
In this episode, Jeremy McLaughlin and Dan Cohen discuss blockchain use cases, and the regulatory trends and associated frameworks for ICOs, and cryptocurrencies. In particular, they provide an overview of the application of...more
2/19/2019
/ Blockchain ,
Cryptocurrency ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
Financial Services Industry ,
FinTech ,
Initial Coin Offering (ICOs) ,
Investors ,
Money Transmitter ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Suspicious Activity Reports (SARs) ,
Token Sales
The growing popularity of virtual currency over the last several years has raised a host of legislative and regulatory issues. A key question is whether and how a state’s money transmitter law applies to activities involving...more
March was a busy month in the blockchain and cryptocurrency space for the Wyoming state government. The legislature passed, and the governor signed, five bills that many in the industry view as favorable to blockchain and...more
An increasing number of class action complaints have been filed over the past several months regarding initial coin offerings (“ICOs”). These suits have primarily focused on alleged securities law implications—for example,...more
The Uniform Law Commission (“ULC”) is an organization focused on developing and preparing “non-partisan, well-conceived, and well-drafted” state legislation in areas of state law where there is a perceived need for...more
On August 7, 2017, the Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) released a risk alert (the “Risk Alert”) summarizing observations from the second round of...more
On March 29, 2017, the U.S. Supreme Court ruled that a New York statute restricting credit card surcharges regulated commercial speech. Yet, Expressions Hair Design v. Schneiderman (No. 15-1391) did not decide whether such...more
Since its inception, the Consumer Financial Protection Bureau (“CFPB”) has been a lightning rod, and there is little dispute that recent events threaten, at a minimum, the current operational structure of the CFPB and...more
On December 2, 2016, the Office of the Comptroller of the Currency (“OCC”) announced its plans to move forward with a proposal to consider applications from financial technology (“fintech”) companies to receive charters as...more
On January 20, 2016, the United States Supreme Court issued its decision in Campbell-Ewald Co. v. Gomez regarding Rule 68 offers of judgment. The Court held that a defendant cannot moot a case by merely offering complete...more