Innovation in the financial services industry is being driven by large investment banks and early stage companies developing and embracing new technologies. This convergence of the financial services industry and transformative technologies, commonly known as FinTech, is reshaping the industry. Polsinelli’s Financial Services Technology (FinTech) and Regulation Practice brings together attorneys from across the firm to represent early stage and established companies that are developing and exploring the use of FinTech

Areas of innovation include:

  • Artificial intelligence
  • Blockchain technology
  • Crowdfund investing
  • Digital assets
  • ePayments
  • Money Service Businesses
  • Payment processors
  • Peer to peer lending
  • Robotic investment advisers

The practice represents these firms before the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), the National Futures Association (NFA), the Financial Industry and Regulatory Authority (FINRA), the U.S. Department of the Treasury, the Office of the Comptroller of the Currency (OCC), state banking regulators and the U.S. Patent and Trademark Office. Bringing together attorneys from across the firm, members of the FinTech and Regulation practice advise clients on a variety of matters, including:
  • Corporate and transactional issues
  • Cybersecurity
  • Employment
  • Government investigations and compliance
  • Intellectual property
  • Labor and employment
  • Litigation
  • Public policy
  • Regulation by the CFTC, the SEC, the OCC, FinCEN, and the Department of the Treasury
  • Securities and corporate finance
  • Tax

The practice focuses on the representation of early, mid-stage and publicly traded companies in the FinTech industry, including:
  • Banks and bank holding companies
  • Blockchain technology companies
  • Broker-dealers
  • Digital asset trading platforms
  • ePayment processors
  • Exchanges and Alternative Trading Systems (ATSs) 
  • Internet companies
  • Investment banks
  • Money service businesses
  • Payment processors
  • Peer to peer lenders
  • Private funds
  • Registered investment advisers
  • Savings associations
  • State chartered trust companies
  • Technology firms

Members of the team are frequent speakers at conferences on blockchain technology, patents, regulatory and market structure issues and have co-authored several chapters of books on U.S. regulation of virtual currencies for the Handbook of Digital Currency and the chapter of the Handbook of Blockchain, Digital Finance, and Inclusion on SEC and CFTC regulation of blockchain technology – both published by Elsevier, Code is Not Law from Blockchain in Financial markets and Beyond and the chapter on regulation of robo-advisers in WealthTech – Wealth Management in the FinTech Age.

The team has been recognized by Chambers and Partners as one of the best FinTech practices in the US and the Chair of the Practice has been recognized by Chambers as one of the leading experts in the world on blockchain and crypto currencies/digital assets.

Polsinelli’s FinTech and Regulation Practice sponsors the following FinTech organizations:

  • Routinely representing ATSs before the SEC and FINRA. Polsinelli attorneys represented one of the first ECNs and the first ATS focused on infrastructure investments before the SEC and FINRA during the ATS application process. 
  • Advising early stage companies on a variety of securities regulatory and anti-money laundering compliance matters.
  • Representing leading U.S. digital currency trading platforms and blockchain technology firms before the Department of Justice, the SEC, and the CFTC in investigations and enforcement actions.
  • Advising investment banks, ATS, and stock exchange on securities regulatory and Bank Secrecy Act matters.
  • Counseled the U.S. subsidiary of a European investment bank after it failed to report several thousand transactions over a three-year period to FINRA. Successfully negotiated a settlement with FINRA that avoided substantial monetary sanctions and negative publicity. Advised the client in the implementation of remedial measures to address potential future violations. 
  • Advising the operators of platforms for the sale of unregistered securities under Rule 506 of Regulation D, crowdfund investing, registration as a stock exchange, and as a commodity exchange for trading digital currencies.
  • Represented the U.S. investment banking subsidiary of a leading global bank in a state securities regulatory action involving more than $20 billion in securities transactions. As part of settlement, the client avoided potential negative publicity and was permitted to register as a broker-dealer. 
  • Counseling U.S. broker-dealer subsidiaries of European and Asian banks in SEC and FINRA regulatory matters. 
  • Advising peer-to-peer lending platforms  and regulated investment advisors on securities regulatory and commercial lending matters. 
  • Represented a multi-billion dollar family office before the CFTC with respect to commodity pool operator status. 
  • Lobbied on behalf of a broker-dealer and ATSs that supported the JOBS Act. 
  • Advising ATSs and digital currency trading platforms on intellectual property matters, including patent strategy and prosecution.
  • Advising boards of directors and management on general corporate, securities, mergers and acquisitions and intellectual property matters in the U.S. and abroad.
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November 5, 2020
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October 26, 2020
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October 20, 2020
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October 9, 2020
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October 7, 2020
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October 1, 2020
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September 30, 2020
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September 15, 2020
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