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Nelson Mullins’ Atlanta office attorneys and staff dedicated their time to serve residents in the community through food distribution held at the Sara J. González Memorial Park on March 2. The park was built to commemorate the legacy of Sara J. González and to honor Atlanta’s diverse communities, wh

This is the third installment of our series evaluating the choice between starting a “new” bank through the de novo chartering process or purchasing an existing bank to implement the new business plan. Since we first wrote on this topic, we have been fortunate to assist a number of clients in formin

“Build it or buy it?” The question is not just for home buyers — it also applies to those seeking to start a bank.There are two well-established ways to start a bank and, at any given time over the past 40 years, it has usually been clear which approach made more sense.In the 1990s, high regulatory

CHARLESTON, S.C. — John C. McElwaine, office managing partner of Nelson Mullins Riley & Scarborough LLP’s Charleston office, has been named to the Who’s Who Legal (WWL): Intellectual Property 2023 report by legal publisher Law Business Research. This recognition is given to the highest-ranking lawye

The National Legal Aid & Defender Association (NLADA) announced Nelson Mullins is among the 40 law firms honored with the 2024 Beacon of Justice Award, which recognizes firms for their pro bono efforts related to civil and human rights issues. NLADA is a large nonprofit organization devoted to provi

New York partner Lori Anne Czepiel will join industry leaders on the panel "Banking on Innovation: Shaping the Future of Financial Services" at the Banking Transformation Summit on Tuesday, Nov. 19. The panel includes Cynthia Jackson with U.S. Bank, Amina Turgulova with Solidus Labs, and L

Richard B. Levin, Daniel Newman, and Bobby Wenner of the Nelson Mullins FinTech and Regulation Practice recently published an article in the 2024/25 edition of the International Fintech Review. The article discusses the use of the major questions doctrine by defendants in enforcement actions by the

The Commodity Futures Trading Commission (“CFTC” or “Commission”) sanctioned Blockratize, Inc. d/b/a Polymarket.com on January 3, 2022 and ordered it to pay a $1.4 million civil money penalty for violations of the Commodity Exchange Act (“Act”), United States Code, and Commission Regulations (“Regul

Nelson Mullins’ FinTech and Regulation Practice has been recognized by the International Financial Law Review (IFLR) as a leading digital finance practice in the Americas. The following members of the Nelson Mullins FinTech and Regulation Practice were recognized: Katie Baker, Lori Anne Czepiel, Chr

Nelson Mullins FinTech attorneys Richard Levin, Kevin Tran, and Bobby Wenner recently co-authored a chapter titled “HAL, the Terminator, and Agent Smith entered a bar; Regulation of Artificial Intelligence in the United States,” in Global Legal Insights’ AI, Machine Learning & Big Data 2024. This ch

Continuing the FinTech University webinar series, Nelson Mullins attorneys Richard Levin, Jeff Kelly, Matthew Lindenbaum, and Rob Lindholm will present “Fear the Reaper – FinTech and Digital Assets Litigation”. This session will cover SEC Wells Notices and enforcement actions, and lawsuits against t

GREENVILLE, S.C. — Nelson Mullins Riley & Scarborough LLP recently recognized two attorneys from the firm’s Greenville office with the Claude M. Scarborough Pro Bono Award for their outstanding commitment and contributions to pro bono work. This year’s honorees from the firm’s Greenville office were

Nelson Mullins attorneys Jon Talcott, Mike Bradshaw, Peter Strand, Gary Brown and Kaylen Loflin, with assistance from Wells Hall and Drew Hermiller, represented the underwriters, led by B. Riley Securities and Needham & Company as joint book-running managers, in a $40 million initial public offering

Nelson Mullins will have its annual Financial Services Conference in Washington, D.C. This event will feature a lineup of national speakers on the future of financial services. The conference agenda is available here.For those who cannot attend in person, there is an option to attend virtually. Plea

Nelson Mullins Riley & Scarborough LLP is ranked No. 4 among legal advisers in the total number of deals in the 2022 S&P Global Market Intelligence League Tables for the United States Banking industry, which is an increase from its 2021 No. 8 ranking.Neil Grayson, head of the firm's Financial Se

COLUMBIA, S.C. — Nelson Mullins Riley & Scarborough LLP recently recognized two partners and two associates with Claude M. Scarborough Pro Bono Awards for their outstanding commitment and contributions to pro bono work in 2020 and 2021. The award is named for the late Chair Emeritus Claude Scarborou

Left to right, Emily Guerrero, Elisa Kodish, Norah RogersATLANTA — Nelson Mullins Riley & Scarborough LLP has tapped Atlanta partner Elisa Kodish to serve as the firm’s national Pro Bono Partner, leading the award-winning program as it invests further in its mission of providing legal services to th

The Consumer Financial Protection Bureau (“CFPB”) recently issued Consumer Financial Protection Circular 2022-04, confirming its increased focus on financial companies that violate federal consumer financial protection law when they fail to safeguard consumer data and warned the industry against sho

As recently discussed in FinTech Nostradamus, the SEC recently doubled the size of its Crypto Assets and Cyber Unit. Since its inception in 2017, the SEC’s Crypto Assets and Cyber Unit has launched more than 80 investigations resulting in over $2 billion in monetary penalties. With more dedicated in

In the wake of the LUNA-UST collapse in which the value of UST and LUNA crashed over 99 percent over a period of days due price manipulation of the algorithmic stablecoin, the Federal Reserve and other regulators have become increasingly vocal about the potential risks of some stablecoins. New York

LOS ANGELES – Los Angeles Office Managing Partner Richard H. “Rich” Otera has joined the Board of Directors of Community Legal Aid SoCal (CLA SoCal). The organization helps fight injustice by providing compassionate, high-quality legal aid to immigrants, homeless, elderly, abused, low income, and ot

In its just-released Financial Stability Report, the Board of Governors of the Federal Reserve System reveals that it has its eye on stablecoins, which now amount to more than $180 billion in the cryptocurrency market. The Fed has identified stablecoins as potentially backed by volatile assets that

This article provides an analysis of the U.S.-based Russia-Ukraine sanctions program and the unintended consequences resulting from said sanctions, including the sanctions’ affects on Russian people who live elsewhere in the world.These sanctions are not generally aimed at startups that have Russian

In an article published by American Banker discussing a recent announcement from the Consumer Financial Protection Bureau detailing plans to develop interpretive guidance that would extend many existing consumer credit card protections to Buy Now, Pay Later loans – which could slow the installment-l

The Massachusetts sports betting bill (“H.5164”) was signed into law in August 2022 by Governor Charlie Baker (more here on the impact of the bill). Included in the bill were two key provisions carving out fantasy sports contests from the definition of sports wagering1 and levying a separate 15 perc

The National Credit Union Administration (NCUA) recently approved a final rule that obligates credit unions to report all cybersecurity attacks within 72 hours starting this September. The rule’s approval is in line with President Biden’s March 2022 cybersecurity plan and comes just months after the

Please select this link for an updated loan modification chart that lists permitted modification to consumer loans and accounts. Many of our clients have been asking about what they can and cannot do with consumer consent. This chart also contains links (updated through today) to all public state re

Recently issued guidance from the Federal Trade Commission (FTC) addresses frequently asked questions about the application of the agency’s Safeguards Rule, 16 C.F.R. § 314.1 et seq., to new car dealers since the 2023 overhaul of that rule. The latest guidance also reaffirmed the FTC’s 2005 guidance

For vulnerable New Yorkers—whether facing domestic violence, disability, or the challenges of aging—secure housing and long-term support are critical to rebuilding their lives. Since the early 1980s, Barrier Free Living (BFL) has been meeting that need in New York City, operating domestic violence s

CHARLESTON, S.C. — Nelson Mullins Riley & Scarborough LLP Charleston Office Managing Partner John C. McElwaine is recognized as a “World Leading Trademark Professional” in the ninth edition of World Trademark Review 1000 (WTR1000).The ninth edition has ranked him both nationally and in the D.C. Metr

Richard B. Levin, the chair of Nelson Mullins' FinTech and Regulation Practice was recently quoted in a Wall Street Journal article regarding Diem (originally known as Libra), a digital currency project launched by Facebook, PayPal, and other leading financial services firms - Facebook Inc. - Ba

The SEC announced on May 3, 2022 that 20 additional positions will be allocated to the Crypto Assets and Cyber Unit within the Division of Enforcement. The announcement specifically identified crypto asset offerings, crypto asset exchanges, crypto asset lending and staking products, decentralized fi

Nelson Mullins is a proud sponsor of the Digital Chamber of Commerce Blockchain Summit in Washington, D.C. on May 15, 2024. Richard B. Levin, the Chair of the FinTech and Regulation Practice at Nelson Mullins will be having a fireside chat with U.S. Representative Patrick McHenry, Chairman of the Ho

Under the SECURE 2.0 Act (Division T of the Consolidated Appropriations Act, 2023), employers that maintain 401(k) plans that permit catch-up contributions will be required to mandate that certain employees who earned more than $145,000 in the prior calendar year from the employer sponsoring the pla

South Carolina-chartered corporations1 may now hold virtual meetings of shareholders whereby shareholders and proxy holders not physically present at the annual or special meeting location may participate by means of remote communication if authorized by the corporation’s board of directors.2 The ne

WASHINGTON, D.C. – Nelson Mullins Riley & Scarborough LLP’s Charleston office managing partner John C. McElwaine has been selected as a 2023 World Trademark Review Global Leader. Now in its fifth edition, the guide, entitled the “WTR Global Leaders: Private Practice” lists McElwaine as a Global Lead

Consumers use cell phone numbers to authenticate their identities across a variety of accounts, such as those held with wireless providers, financial institutions, healthcare providers, and retail websites. One common example is when a provider sends an SMS (text) message to your phone to verify you

CHICAGO – Nelson Mullins Riley & Scarborough LLP, a national, full-service law firm with offices from coast to coast, is pleased to welcome David Ogles as partner in its Chicago office. Ogles will primarily practice commercial litigation and will serve on the firm’s Midwest Commercial Litigation Tea

Anyone who has ever received a civil investigative demand, subpoena, second request, voluntary access letter, or other form of compulsory process from a federal antitrust regulator knows that the government’s standard definition of “document” is wide ranging and seemingly encompasses every form of w

In a recent article by CanvasRebel, Nelson Mullins partner Harsh Arora was featured for his pro bono contributions and his successful corporate law practice. The article provides an in-depth discussion with Arora on his harmonious style of practice and how he helps others in need, specifically throu

In an article published by American Banker discussing a recent announcement from the Consumer Financial Protection Bureau detailing plans to develop interpretive guidance that would extend many existing consumer credit card protections to Buy Now, Pay Later loans – which could slow the installment-l

In an article published by Bloomberg Law, Nelson Mullins attorneys Mallory Acheson and Jason Epstein discuss data collection and discovery implications of increasing investment and participation in virtual technologies like the metaverse, including growing litigation involving intellectual property

Nelson Mullins partner Jackson Hwu will present at the Florida Venture Capital Conference on February 9, 2023, in Miami, Florida. Hwu is moderating a panel titled "Let's Separate Blockchain Technology from Cryptocurrency." The panel will discuss use cases for blockchain technology and

A bank’s board of directors should reflect the diversity of its senior management, its employees, its shareholders, customers, and its community. A diverse board of directors can help cultivate multiple perspectives from the top of the organization down to all levels of the company, and extend out t

For the past six months, we have received calls from banks and non-depository mortgage lenders regarding Department of Justice (“DOJ”) investigations into mortgage lending discrimination. These DOJ inquiries are bypassing the banks’ prudential regulators and the non-bank state regulators, which have

The U.S. Attorney’s Office for the Southern District of New York recently charged two individuals for allegedly participating in a scheme to defraud purchasers of “Frosties” non-fungible tokens (or “NFTs”) out of over $1 million. The two-count complaint charges Ethan Nguyen (aka “Frostie”) and Andre

Nelson Mullins partners Matthew Lindenbaum and Robert Lindholm, associate Daniel Curran, and chair of the FinTech and Regulation Practice, Richard B. Levin, recently had their article, “Gov't Backtrack On Ether As Security May Spur Crypto Clash,” featured on Law360. In the article, the trio of s

In a special question and answer segment for the Emerging Litigation Podcast, Brad Rustin, partner and chair of the Financial Services Regulatory Practice at Nelson Mullins, breaks down financial sanction programs related to Russia’s invasion of Ukraine.“Compared to the last 40 or 50 years, these ar

Please forgive some members of the FinTech community for remembering President Ronald Reagan’s comment: “The nine most terrifying words in the English language are: ‘I’m From the Government and I’m Here to Help.’” President Biden recently signed an Executive Order on Ensuring Responsible Development

BALTIMORE – Chambers & Partners has named Michael A. Brown, Nelson Mullins’ chief diversity partner, as a finalist for its Chambers USA Awards 2023 in the area of Diversity & Inclusion: Outstanding Contribution.These awards celebrate firms and individuals who are furthering the advancement of divers

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