Fintech

  • September 17, 2024

    Skadden, Freshfields Guide Midea's $4B Hong Kong Listing

    Midea Group debuted on the Hong Kong Stock Exchange on Tuesday after the home appliance giant raised almost $4 billion in the largest initial public offering in the special administrative region of China since early 2021.

  • September 16, 2024

    CEO's AI Fraud Detection Tool Contract Was Fraud, Feds Say

    A former technology company CEO has pled guilty to a charge that he cooked his company's books and raised tens of millions of dollars from investors off phony claims that an artificial intelligence program his firm developed was being used to spot digital ad fraud, the Manhattan U.S. Attorney's Office said Monday.

  • September 16, 2024

    Milbank Taps SEC Chief Litigation Counsel As DC Partner

    Milbank LLP said Monday it has hired the U.S. Securities and Exchange Commission's chief litigation counsel as a new partner in Washington, D.C.

  • September 16, 2024

    UK Banks Push BoE To Collaborate On Payments Innovation

    Britain's leading banks called Monday on the governor of the Bank of England to collaborate with private firms on improving payments innovation, simplifying regulation and infrastructure.

  • September 16, 2024

    Apple App Developers Bid To Go Ahead In £785M Class Action

    A lawyer for a consumer advocate told Britain's antitrust tribunal on Monday that a proposed £785 million ($1 billion) claim by app developers against Apple over payments for commission should be allowed to go ahead as a class action.

  • September 16, 2024

    IRS Cancels Hearing On 'Basket Contract' Transactions Rule

    The Internal Revenue Service canceled a hearing on proposed rules that would flag what are known as basket option contracts as potentially abusive listed transactions, according to a notice released Monday.

  • September 13, 2024

    The 2024 Regional Powerhouses

    The law firms on Law360's list of 2024 Regional Powerhouses reflected the local peculiarities of their states while often representing clients in deals and cases that captured national attention.

  • September 13, 2024

    Bankman-Fried Lays Blame On Trial Judge In 2nd Circ. Appeal

    FTX founder Sam Bankman-Fried on Friday launched an appeal of his fraud conviction over the cryptocurrency exchange's historic collapse, issuing a broadside against the judge who oversaw his trial and saying FTX's debtor counsel Sullivan & Cromwell LLP acted as an arm of the prosecution.

  • September 13, 2024

    Kennedys Hires Cyber, AI Pro From Addleshaw In London

    Kennedys Law LLP has recruited a data protection, cybersecurity and artificial intelligence specialist from Addleshaw Goddard LLP as a partner in London, with the new arrival saying Friday she made the switch to take advantage of the firm's global reach.

  • September 13, 2024

    Trio Of BigLaw Mergers Expected To Drive More Deal Talks

    After months of a relatively steady pace of law firm mergers and acquisitions, the trio of proposed BigLaw tie-ups announced in recent days will likely spur more firms toward entertaining similar deal talks, experts say. Here, Law360 offers a snapshot of the proposed deals.

  • September 13, 2024

    Mortgage Co. CEO Gets 11 Years In Prison For Ponzi Scams

    A mortgage company owner was sentenced Thursday to 11 years and three months in prison for defrauding investors, a community bank and the government's pandemic relief program to cover gambling debts and personal expenses like luxury cars, Philadelphia's top federal prosecutor announced.

  • September 13, 2024

    High Court Sanctions £2.2B Deal For Network International

    Middle Eastern payments company Network International Holdings said on Friday that the High Court has sanctioned a £2.2 billion ($2.9 billion) takeover bid from Brookfield Asset Management Ltd.

  • September 13, 2024

    EU Finance Ministers Boycott Hungary Meeting Over Russia

    Most European Union finance ministers protested on Friday against what they see as Hungary's Russia-friendly politics by boycotting a meeting with their EU peers in the country's capital, Budapest.

  • September 13, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen a football agent sue Chelsea FC after being cleared of allegations he threatened the club’s former director, an ongoing patent dispute between Amgen and Regeneron Pharmaceuticals, and a private school in Edinburgh suing Riverstone Insurance over compensation claims tied to historical abuse allegations made by former pupils. Here, Law360 looks at these and other new claims in the U.K.

  • September 13, 2024

    Hardware Seller Is Withholding $10M In Fees, Tech Co. Says

    A technology company has claimed it introduced a Canadian hardware seller to confidential contacts looking to buy graphics processors, and the seller secured sales from them, but is now withholding around $10.5 million in referral fees.

  • September 13, 2024

    EasyGroup Claims 'EasyCargo' TM Threatens Its Brand

    EasyGroup has sued a courier price comparison website over its use of trademark "EasyCargo," as the owner of no-frills airline easyJet alleged that this threatens its family of "easy" TMs in its ongoing battle against what it calls "brand thieves."

  • September 12, 2024

    Wells Fargo Ordered To Overhaul Sanctions, AML Compliance

    Wells Fargo faces fresh restrictions on launching new products and entering new markets, and must beef up its compliance and monitoring efforts around sanctions, anti-money laundering and other international business risks, under an enforcement action announced Thursday by the Office of the Comptroller of the Currency. 

  • September 12, 2024

    Crypto Wallet Co. Beats Colo. Class Action Over $100M Hack

    The developers and owners of cryptocurrency application Atomic Wallet have beaten a proposed class action over a hack last year that stole roughly $100 million in customers' assets, with a Colorado federal judge saying the suit doesn't have a strong enough connection to the Centennial State to proceed there.

  • September 12, 2024

    Quinn Emanuel, Cohen Milstein Get $102M In Stock Loan Case

    A judge awarded $102 million in attorney fees to Quinn Emanuel Urquhart & Sullivan LLP and Cohen Milstein Sellers & Toll PLLC for settling claims from investors that major banks colluded to avoid modernizing the stock loan market.

  • September 12, 2024

    Trading Firm EToro To Limit Crypto Sales, Pay $1.5M SEC Fine

    The U.S. Securities and Exchange Commission on Thursday ordered trading platform eToro USA LLC to pay a $1.5 million fine and stop U.S. customers from trading in all but the three largest crypto assets to settle the regulator's allegations that the firm operated as an unregistered broker and clearing agency.

  • September 12, 2024

    CFTC Can't Pause Decision To Allow Election Betting

    A D.C. federal judge on Thursday refused to stay a ruling that found the Commodity Futures Trading Commission overstepped its bounds by blocking an online trading platform from allowing users to place bets on the outcome of U.S. congressional elections.

  • September 12, 2024

    Crypto-Scam Victim Can't Trace Lost £2M To Thai Exchange

    A judge at a London court ruled Thursday that a victim of crypto-fraud had failed to trace the stolen money to an exchange in Thailand, the first ruling to deal with the status and treatment of cryptocurrency in English law after a full trial.

  • September 12, 2024

    Mastercard To Buy Recorded Future Security Co. For $2.65B

    Mastercard Inc. said Thursday that it plans to buy global threat intelligence company Recorded Future from software investor Insight Partners for $2.65 billion to bolster its cybersecurity offering.

  • September 11, 2024

    Litigation Spending To Rise As Cases Grow More Aggressive

    A substantial number of large companies are expecting to increase their litigation spending by double digits next year in the face of more complex and hard-fought cases — and they are more open to bringing in new legal talent to navigate the matters, according to a report released Thursday. 

  • September 11, 2024

    House Tax Panel OKs Repeal Of $600 Reporting Threshold

    The House Ways and Means Committee advanced several bills Wednesday, including one that would repeal a law requiring peer-to-peer payment platforms such as Venmo and PayPal to report aggregate payments of $600 or more.

Expert Analysis

  • Risks And Promises Of AI In The Financial Services Industry

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    Generative artificial intelligence has immense potential to revolutionize the financial services industry, but firms considering its use should first prepare to show their customers and the increasingly divided international regulatory community that they can manage the risks inherent to the new technology, say attorneys at Gibson Dunn.

  • Series

    Playing Chess Makes Me A Better Lawyer

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    There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.

  • Patent Lessons From 7 Federal Circuit Reversals In May

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    A look at recent cases where the Federal Circuit reversed or vacated decisions by the Patent Trial and Appeal Board or a federal district court provide guidance on how to succeed on appeal by clarifying the obviousness analysis of design patents, the finality of a judgment, and more, say Denise De Mory and Li Guo at Bunsow De Mory.

  • Litigation Inspiration: Attys Can Be Heroic Like Olympians

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    Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.

  • What To Know As CFPB Late Fee Rule Hangs In Limbo

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    Though the Consumer Financial Protection Bureau's final credit card late fee rule faces an uncertain future due to litigation involving injunctions, emergency petitions and now a venue dispute, card issuers must understand how to navigate the interim period and what to do if the rule takes effect, say attorneys at Steptoe.

  • Lean Into The 'Great Restoration' To Retain Legal Talent

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    As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.

  • Unlocking Blockchain Opportunities Amid Legal Uncertainty

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    Dozens of laws and legal precedents will come into the fore as Web3, metaverse and non-fungible tokens gain momentum, so organizations need to design their programs with a broader view of potential exposures — and opportunities, say Teresa Goody Guillén and Robert Musiala at BakerHostetler and Steve McNew at FTI Consulting.

  • What The NYSE Proposed Delisting Rule Could Mean For Cos.

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    The New York Stock Exchange's recently proposed rule would provide the exchange with discretionary authority to commence delisting proceedings for a company substantially shifting its primary business focus, raising concerns for NYSE-listed companies over the exact definition of the exchange's proposed "substantially different" standard, say attorneys at Winston & Strawn.

  • The Uncertain Scope Of The First Financial Fair Access Laws

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    With Florida and Tennessee soon to roll out laws banning financial institutions from making decisions based on customer traits like political affiliation, national financial services providers should consider how broadly worded “fair access” laws from these and other conservative-leaning states may place new obligations on their business operations, say attorneys at Sullivan & Cromwell.

  • Debate Over CFPB Definition Of Credit Is Just Beginning

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    The Consumer Financial Protection Bureau has recently worked to expand the meaning of credit, so anyone operating on the edges of the credit markets, or even those who assumed they were safely outside the scope of this regulatory perimeter, should pay close attention as legal challenges to broad interpretations of the definition unfold, says John Coleman at Orrick.

  • A Closer Look At Feds' Proposed Banker Compensation Rule

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    A recently proposed rule to limit financial institutions' ability to award incentive-based compensation for risk-taking may progress through the rulemaking process slowly due to the sheer number of regulators collaborating on the rule and the number of issues under consideration, say attorneys at Troutman Pepper.

  • Opinion

    The FTC And DOJ Should Backtrack On RealPage

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    The antitrust agencies ought to reverse course on their enforcement actions against RealPage, which are based on a faulty legal premise, risk further property shortages and threaten the use of algorithms that are central to the U.S. economy, says Thomas Stratmann at George Mason University.

  • Series

    Fishing Makes Me A Better Lawyer

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    Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge​​​​​​​ at Robinson Bradshaw.

  • A Look At US-EU Consumer Finance Talks' Slow First Steps

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    The unhurried and informal nature of planned discussions between the U.S. Consumer Financial Protection Bureau and the European commissioner for justice and consumer protection suggests any coordinated regulatory action on issues like AI and "buy now, pay later" services is still a ways off, say attorneys at DLA Piper.

  • 5th Circ. Venue-Transfer Cases Highlight Mandamus Limits

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    Three ongoing cases filed within the Fifth Circuit highlight an odd procedural wrinkle that may let district courts defy an appellate writ: orders granting transfer to out-of-circuit districts, but parties opposing intercircuit transfer can work around this hurdle to effective appellate review, says Charles Fowler at McKool Smith.

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