Tag Archives: Fintech

Greenberg Traurig to Host Atlanta-Israel Fintech Innovation Conference

Carl A. Fornaris, co-chair of the Financial Regulatory and Compliance Practice, will participate in the GT-hosted second annual Atlanta-Israel FinTech Innovation Conference, which connects leading Israeli companies in the financial technology sector with Georgia-based corporate partners. The conference will be held May 22 – 23, and will provide networking and new business opportunities for participants. … Continue Reading

No “Sandbox” in Germany

British start-ups in the financial sector enjoy more freedom – is that better? Innovative providers of financial services in Great Britain are allowed into the sandbox: In the “Regulatory Sandbox”, such undertakings can test their business models in the market under less stringent regulatory supervision before becoming obliged to fulfill stricter regulatory requirements. In Germany, … Continue Reading

Greenberg Traurig to Host the Second Atlanta-Israel FinTech Innovation Conference

May 22-23, 2017, Greenberg Traurig’s Atlanta office will host the second Atlanta-Israel FinTech Innovation Conference. With over 100 guests expected, the conference brings together both U.S. and Israeli companies seeking synergy and collaboration opportunities. U.S. companies attend fin search of “cutting edge” Israeli technologies and Israelis leverage the event to showcase their technologies and make … Continue Reading

Japanese Fintech Regulation Update: New Law & Regulations on Electronic Banking Settlement Agency Service

The Financial Service Agency of Japan (JFSA) submitted a bill (Bill) to the National Diet to amend the Banking Act (Act No. 59 of 1981, as amended, the Banking Act) on March 3, 2017, to employ a new regulation on the electronic banking settlement agency service (Electronic Settlement Agency Service or Service), which provides agent services … Continue Reading

Greenberg Traurig’s Koichiro Ohashi to Speak About Fintech in Connection to Luxembourg and Japan

Koichiro Ohashi, shareholder in the Tokyo office of international law firm Greenberg Traurig, LLP will participate in a program titled, “A taste of FinTech From 2 Angles … and 2 Sides of The World” on March 14 in Luxembourg. The discussion will address the challenges and opportunities of Fintech in Luxembourg and Japan.… Continue Reading

NY Governor’s Proposed Budget Forecasts Increased Regulation of Fintech

In his proposed budget for fiscal year 2017-2018, New York Governor Andrew Cuomo advanced changes to the New York Banking Law that would give the Department of Financial Services (NY DFS) increased licensing authority over online and marketplace lenders.[1] The proposed budget would prohibit any entity from engaging in the business of making loans in … Continue Reading

Federal Reserve Board’s Divisions of Research & Statistics and Monetary Affairs Issued Their First Research Paper on Blockchain Technology

Last month, the Federal Reserve Board’s Divisions of Research & Statistics and Monetary Affairs issued their first research paper on blockchain technology, entitled “Distributed Ledger Technology in Payments, Clearing, and Settlement.” The Report identifies both the opportunities and challenges entailed in widespread adoption of distributed ledger technology. The Report suggests that blockchain technology has the … Continue Reading

SEC Convenes Fintech Forum

On Nov. 14, 2016, the Securities and Exchange Commission (SEC) hosted an all-day forum on FinTech ( Forum).  The event highlighted the active role the SEC intends to take in monitoring and regulating technological innovation based upon the potential impact of innovation on investors and capital markets. In her remarks to Forum attendees, SEC Chair … Continue Reading

OCC Consideration of Special Purpose Fintech Charters Draws Rapid Reaction for State Banking Regulators

On Dec. 2, 2016, the Office of the Comptroller of the Currency (OCC) published a preliminary proposal to create a national bank charter for financial technology companies (fintech). The OCC’s rationale in support of the proposal was that such a charter could promote the safety and soundness of fintech institutions, bring greater legal and regulatory … Continue Reading

Greenberg Traurig Attorneys Viola Bensinger, Henrik Armah, Joey Shabot and Carsten Kociok to Present on Fintech, Nov. 23

Greenberg Traurig and Herzog Fox & Neeman LLP are pleased to co-host a program titled “Emerging Technology Briefing: Fintech Evolution in Germany and Israel” on Nov. 23, from 9:00 to 12:00 p.m. GT attorneys, Viola Bensinger, Henrik Armah, Joey Shabot and Carsten Kociok, will participate in this timely program. Information will be provided on the … Continue Reading

Greenberg Traurig Hosts the Program ‘Emerging Issues in Banking, Consumer Finance, and FinTech Litigation’

On Oct. 25, please join Greenberg Traurig’s Class Action Litigation and Consumer Financial Services Litigation Practice Groups in the presentation titled “Emerging Issues in Banking, Consumer Finance, and FinTech Litigation” in our Silicon Valley Office or via Webinar. While the finance capitals of the world have traditionally been in places like New York, London, and … Continue Reading

Greenberg Traurig’s Koichiro Ohashi, Lori Nugent, and Jonathan Beckham to Participate in the ACCA and FIAJ Seminar on Cloud Computing Services Usage by the Financial Services Industry

Greenberg Traurig is proud to host and participate in the Asia Cloud Computing Association (ACCA) and the Futures Industry Association of Japan (FIAJ) program “Cloud Computing Services Usage by the Financial Services Industry – Business Models and Regulatory Approach” in the GT Tokyo office on Nov. 1, 2016. GT Shareholders Koichiro Ohashi and Lori Nugent … Continue Reading

Davos Report Envisions Blockchain Technology as Central to Global Banking

On Aug. 12, 2016, the World Economic Forum in Davos issued a report that predicts that distributive ledger systems, or blockchains, could enable banks to offer cheaper, faster and more secure services, without using bitcoin or other virtual currencies for transactions, according to the New York Times.  Distributed ledger technology, or blockchain, is a system … Continue Reading

FSOC Report Targets Marketplace Lending

The Financial Stability Oversight Council (FSOC) issued its annual report at the end of June, the sixth since the FSOC began issuing reports under Dodd-Frank.  Notably, however, this was the first report to address the emergence of Fintech.  In particular, the FSOC highlighted distributed ledger systems and marketplace lending as developing sources of concern.  The … Continue Reading

Greenberg Traurig Co-Sponsored Atlanta-Israel Fintech Innovation Conference

Greenberg Traurig co-sponsored a unique event bringing together leading fintech companies from Atlanta and Israel. Led by Atlanta shareholder, David Schulman, the event was aimed to match Atlanta-based international fintech corporations with cutting-edge Israeli technology companies in the field, including companies that offer card processing, electronic billing, and multi-channel solutions to the banking industry, as … Continue Reading

OCC Forum on Responsible Innovation

On June 23, 2016 the Office of the Comptroller of the Currency (OCC) hosted the Forum on Responsible Innovation in the Federal Banking System in Washington, D.C. Hundreds of industry stakeholders gathered to discuss “Responsible Innovation,” fintech, and the role of the OCC in regulating the financial industry as it evolves.  The forum addressed reaction … Continue Reading

FinTech Companies Should Be Wary of Potential Sales Tax

As shown in a recent Texas case involving a financial technology (FinTech) business, the rapid advance of online professional services is colliding with states that impose sales tax on cloud computing or data processing. With limited exceptions, states generally do not impose sales tax on most professional services; however, some states are casting their nets … Continue Reading

Nonbank Fintech: Regulatory Uncertainty as Innovation Flourishes

At the end of March, the OCC issued a whitepaper setting out the principles that it will use to guide the development of a framework to analyze innovations in the banking sector of financial technology, or “fintech” for short.  The paper defined and encouraged “responsible innovation,” and discussed both benefits and risks arising from the … Continue Reading
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