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Walkers

Updates to the British Virgin Islands Anti-Money Laundering regime and changes for MLROs

Walkers on

Prior regulatory approval is now required for MLRO appointments – previously it was a notification requirement that had to be submitted within 14 days of the MLRO appointment. Firms in scope will now need to factor in...more

Perkins Coie

FDIC’s Proposed Changes to Custodial Deposit Accounts: Practical Implications for Fintechs and Their Banks

Perkins Coie on

The Federal Deposit Insurance Corporation (FDIC) issued a Notice of Proposed Rulemaking (the Proposal) on September 17, 2024, that seeks to strengthen recordkeeping for bank deposits held by nonbank companies on behalf of...more

Husch Blackwell LLP

FDIC Publishes FAQs on the New FDIC Signage, Advertisement, and Deposit Insurance Misrepresentations Rule

Husch Blackwell LLP on

Last week, the Federal Deposit Insurance Corporation (FDIC) published Frequently Asked Questions on the final rule governing FDIC Official Signs and Advertising Requirements, False Advertising, Misrepresentation of Insured...more

Pierce Atwood LLP

Massachusetts Attorney General Clarifies Position on Artificial Intelligence

Pierce Atwood LLP on

The Massachusetts Attorney General’s Office (AGO) recently issued an advisory clarifying that existing Massachusetts law applies to artificial intelligence (AI) to the same extent as any other product in the stream of...more

Husch Blackwell LLP

FDIC Amends Signage, Advertising, and FDIC Insurance Misrepresentation Rules to Address Digital Banking Services and Bank-Fintech...

Husch Blackwell LLP on

In December 2023, the Federal Deposit Insurance Corporation (FDIC) finalized amendments to its rules on official FDIC signage, bank advertisements, deposit insurance misrepresentations, and the misuse of the FDIC’s name or...more

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - November 2023

...SEC Adopts Amendments to Fund Names Rule - On September 20, 2023, the U.S. Securities and Exchange Commission (SEC) adopted amendments to Rule 35d-1 under the Investment Company Act of 1940 (the Fund Names Rule) as well...more

Akin Gump Strauss Hauer & Feld LLP

Recent FTC Settlements Highlight Risks of Flawed Information Security Practices and Related Representations

In a set of recent settlements, the Federal Trade Commission (the FTC or Commission) resolved charges against two companies, ClixSense and D-Link, for failing to provide reasonable security and to live up to their data...more

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