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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

Nelson Mullins Financial Institutions Corporate & Regulatory Partner Craig Nazzaro was quoted by S&P Global Market Intelligence in an article titled “Banks can expect return to strict oversight of anti-money laundering rules.” The article discussed how banks may now face increased enforcement from r

* Brianna Drayton, a 2022 summer associate at Nelson Mullins, co-authored this publication.This article discusses whether it is time for the U.S. government to rethink its position and speed up adoption of cryptocurrency as an official currency. The authors point out that investment in digital asset

The Securities and Exchange Commission (“SEC”) released Staff Accounting Bulletin No. 121 (“SAB 121”) on March 31, 2022. SAB 121 provides SEC staff’s views regarding accounting treatment of obligations incident to a reporting company’s custody of crypto-assets for its platform users. The staff notes

The Federal Deposit Insurance Corporation (“FDIC”) on August 18, 2022 issued updated Supervisory Guidance on banks assessing multiple re-presentment fees against customers’ accounts. This follows the March 2022 FDIC Consumer Compliance Supervisory Highlights, which also raised similar concerns. The

Within a recent address to an industry conference, Dr. Lael Brainard, a member of the Board of Governors of the Federal Reserve System (FRB), drove home her belief that the adoption of stablecoins over a U.S. Centralized Bank Digital Currency (CBDC) could place the U.S. in danger of “inefficiency, f

The Federal Reserve recently announced a new proposal to expand its Main Street Lending Program to nonprofit organizations. Public comments may be made to the Federal Reserve via email, here, until Monday, June 22, 2020.The Main Street Lending Program is the Federal Reserve’s existing lending progra

In the wake of the early months of COVID-19, the Federal Housing Finance Agency (FHFA) and the U.S. Department of Housing and Urban Development (HUD) instituted a foreclosure and eviction moratorium on Fannie Mae and Freddie Mac single-family foreclosures and real estate owned evictions. Additional

Now that stakeholders in the financial services industry have two choices for identification standards in the digital asset market, they have a question to contend with: Does the industry really need more than one standard?Nelson Mullins Riley & Scarborough LLP partner and chair of the FinTech and R

CHARLESTON, S.C. (November 3, 2020) – John C. McElwaine, managing partner of Nelson Mullins Riley & Scarborough LLP Charleston office, has been selected as one of the National Law Journal’s 2020 Intellectual Property Trailblazers.Now in its sixth year, the National Law Journal’s Intellectual Propert

The Office of the Comptroller of the Currency (“OCC”) issued its long-anticipated final rule on Oct. 27, to establish a “simple, bright-line test” to determine when a national bank or federal savings association has made a loan and, therefore, is the “true lender” in a lending relationship with a th

Employers engaged in critical infrastructure face significant challenges in maintaining business operations while ensuring the health of their employees and the public. While many employees are now working remotely, employers engaged in essential services do not have that luxury.As a result, busines

The SBA added to its FAQ on the Paycheck Protection Program to provide clarity on certain issues on April 6. It should offer comfort to lenders in particular, who were struggling to interpret some of these issues and worried about liability for any misinterpretation. Below is a summary of some of th

RALEIGH — North Carolina Lawyers Weekly has selected Nelson Mullins Administrative Manager Nancy Childers for a 2019 Unsung Heroes. The award recognizes dedication to duty and the positive influence recipients have on others, according to the organization.Based in Raleigh, Childers oversees more tha

Please join Nelson Mullins Riley & Scarborough for the 2021 South Florida Health Forum. We look forward to reconnecting with you after a year away from our annual event.Agenda11-11:55 a.m. | Registration and Lunch11:55 a.m.-12 p.m. | Welcome and Opening Remarks, Mike Segal, Nelson Mullins12-12:55 p.

Congress recently passed the Anti-Money Laundering Act (AMLA) of 2020, as part of the National Defense Authorization Act for the present fiscal year. This Act is a potential game-changer for enforcement and compliance and is the most significant anti-money laundering legislation passed in years. I

Earlier this week, the CFPB announced a final rule covering small dollar lending which rescinds the mandatory underwriting provisions of the 2017 Payday Lending Rule. The 2017 Payday Lending Rule was the result of a prior CFPB initiative, which was led by former CFPB Director Richard Cordray, and wh

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

Nelson Mullins partner Deborah St. Lawrence Thompson has been selected as one of The Daily Record’s 2023 Leaders in Law due to her outstanding dedication to the occupation and her community.Through Leaders in Law, The Daily Record and the Maryland State Bar Association honor outstanding legal profes

The metaverse, a colloquial term for a network of immersive 3D virtual worlds; and Web3, a new iteration of the internet that includes virtual reality, augmented reality, mixed reality, cryptocurrencies, non-fungible tokens, and more, are evolving to become another Wild West technology frontier wher

Nelson Mullins partner Richard Levin will be speaking at FinTech Week London on June 19, 2023. He will participate in a fireside chat titled "Web 3.0 - Crypto - Digital Assets & Regulation." Fintech Week London will bring together the brightest minds and industry leaders to address these c

Currently, the FDIC has a limited ability to claw back executive compensation in the event of a bank failure. An unlikely combination of U.S. Senators, including Elizabeth Warren (D-MA), Josh Hawley (R-MO), and J.D. Vance (R-OH) are teaming up to propose new legislation that would change this. Warre

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

NOTE: The information contained in the following alert is up-to-date as of March 15, 2023. News and events are evolving, so check the websites for the FDIC and the applicable banks for updates and announcements.Start-up, emerging, middle market and other companies and their founders, executives, and

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

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

The Securities and Exchange Commission (“SEC”) released Staff Accounting Bulletin No. 121 (“SAB 121”) on March 31, 2022. SAB 121 provides SEC staff’s views regarding accounting treatment of obligations incident to a reporting company’s custody of crypto-assets for its platform users. The staff notes

Richard Levin, the chair of the FinTech and Regulation Practice of Nelson Mullins, was recently quoted in an article in Forkast, “Sam Bankman-Fried could face decades in jail if convicted of law violations in FTX collapse, lawyers say.” The article discusses the founder and former chief executive of

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 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

Securities and Exchange Commissioner (“SEC”) Allison Herren Lee, in remarks before the Practicing Law Institute, recently called on federal regulators to adopt standards of professional conduct for attorneys practicing before the commission, foreshadowing potential ethical guidance for members of th

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

CHARLESTON, S.C. — Nelson Mullins Riley & Scarborough LLP Charleston Office Managing Partner John C. McElwaine has been ranked in the 2022 edition of World Trademark Review 1000.He is ranked in WTR1000 both nationally for trademark enforcement and litigation and in the D.C. Metro Area for trademark

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

Nelson Mullins and Miami Dade College will kick off Miami Tech Month with the inaugural Women in FinTech (“WinFin”) Conference. Panels of nationally recognized thought leaders will share insights on FinTech’s global development. Speakers include: Michelle Abbs, Vice President of Community and Educat

Nelson Mullins’ FinTech and Venture Capital attorneys Jackson Hwu and Gabriel Castillo, in cooperation with Fintech and Securities Regulatory attorneys Richard Levin and Kevin Tran, advised CryptoLeague, a Miami-based investment platform, in an oversubscribed pre-seed round of $2.2 million and block

Thunder Bridge Capital Partners IV, Inc. (NASDAQ:THCP), a special purpose acquisition company, was represented by Nelson Mullins as it entered a definitive merger agreement with Coincheck, Inc., one of the largest multi-cryptocurrency marketplaces and digital asset exchanges in Japan by verified acc

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

Diplomatic efforts to prevent Russia’s invasion of Ukraine did not prevail, and unfortunately the conflict continues. Although we don’t wish to overlook or dismiss the pain and suffering that is attendant to war, and while we hope for a quick, safe resolution, there are and will continue to be unint

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

CHARLESTON, S.C. — Nelson Mullins Riley & Scarborough LLP Charleston Office Managing Partner John C. McElwaine has been recognized in the 2023 edition of World Trademark Review 1000 (WTR).McElwaine is ranked in WTR1000 both nationally for trademark enforcement and litigation and in the D.C. Metro Ar

A new year means resolutions which are often centered around self-improvement measures like weight loss, exercise plans, and other health improvement measures. Companies can also benefit from resolutions. Increasing antitrust awareness is not usually on the resolution list but here we offer some ide

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

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

COLUMBIA, S.C. — The South Carolina Department of Corrections is renaming one of its signature family programs in honor of former U.S. Secretary of Education and former South Carolina Governor Richard Riley, who is currently a senior partner with Nelson Mullins.Now called “Riley’s Readers,” the form

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

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

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

GREENVILLE, S.C. – Nelson Mullins partner Neil Grayson was selected as one of the 2024 BTI Client Service All-Stars on BTI Consulting Group’s annual list. The designation is one of the industry’s highest honors, as attorneys only make the list through unsolicited nominations and proof of performance

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