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Financial Institutions Retail Market

Troutman Pepper Locke

Bipartisan State AGs Urge Congress to Grant Access to Federally Regulated Banking and Financial Services to State-Regulated...

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In July 2025, a bipartisan coalition of 32 state and territorial attorneys general (AG) sent a letter to Congressional leaders urging the passage of the Secure and Fair Enforcement Regulation (SAFER) Banking Act. Their letter...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – May 2025

Key Points - - The SEC’s Crypto Task Force acknowledges past hostility toward digital assets and aims to create more sensible regulations. - Tokenized securities face complex regulatory challenges, including compliance...more

Troutman Pepper Locke

Suit Against Cannabis Giant Trulieve Underscores Cashless ATM Risks and the Need for Banking Reforms

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In a February 19 complaint filed in Arizona state court, Texas-based payment processer Switch Commerce LLC argued that multistate cannabis operator Trulieve Cannabis Corp. and its affiliates should be responsible for a...more

ArentFox Schiff

Saks Global Announces Vendor Payments to Begin in July, Plus Store Closings in the United States and Canada

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On February 14, the newly formed Saks Global announced its plan to pay vendors past due balances in 12 monthly installments beginning in July....more

A&O Shearman

Financial Ombudsman Service policy statement on charging fees to claims management companies and other professional...

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The Financial Ombudsman Service (FOS) has published a policy statement on its new fee rules regarding complaints that are referred to it by certain claims management companies (CMCs) and other professional representatives...more

A&O Shearman

UK Financial Conduct Authority updates its perimeter report

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The Financial Conduct Authority has updated its perimeter report. The report describes issues the FCA has identified with its regulatory perimeter and the action it is taking in response....more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - May 2024

Spotlight - Macquarie Ruling Raises the Bar for Securities Fraud Claims - Key Points - - On April 12, 2024, the U.S. Supreme Court unanimously reversed and vacated the Second Circuit’s decision in Macquarie...more

Troutman Pepper Locke

The Pros and Cons of Marijuana Dispensaries Using Cryptocurrencies for Payments

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The legal marijuana industry has grown rapidly in the U.S., with 38 states, three territories, and the District of Columbia legalizing its use for medical and/or recreational purposes. However, despite the industry’s growth,...more

King & Spalding

Real Estate of Mind: Takeaways from IFN UK Forum 2023

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The annual IFN UK Forum 2023 was held in London in September 2023 and, once again, was a well-attended event, giving attendees a chance to connect and reconnect with colleagues, clients and friends alike from all over the...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Investment Research Review: Reforming MiFID II and Revitalising Investment Research in the UK Public Markets

In July 2023, the Investment Research Review (the Review) commissioned by the UK government published its findings into investment research in UK capital markets. The Review made the following seven recommendations, seeking...more

Akin Gump Strauss Hauer & Feld LLP

New FCA Principle 12: Consumer Duty

Key Point - The FCA is introducing a new Principle for Businesses, namely Principle 12: “A firm must act to deliver good outcomes for retail customers.” Firms will need to assess and evidence how they are acting to...more

Wilson Sonsini Goodrich & Rosati

UK Financial Services Consumer Regulation Reset: The “Consumer Duty”

The UK Financial Conduct Authority (the FCA) is introducing sweeping new regulatory obligations for financial services firms that serve UK retail customers, referred to as the "consumer duty" (the Duty). The Duty represents a...more

BCLP

FCA proposes new Consumer Duty - TCF with bigger teeth?

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On 14 May 2021, the FCA published Consultation Paper CP21/13 outlining much-anticipated proposals relating to the standards expected of regulated firms to ensure the protection of retail consumers. The Consultation Paper...more

Latham & Watkins LLP

FCA Proposes New Consumer Duty

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The FCA is proposing to set higher expectations for firms operating in retail markets. On 14 May 2021, the FCA published a Consultation Paper (CP21/13) on introducing a new Consumer Duty....more

Hogan Lovells

Payments regulatory news, September 2020 # 3

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Card-acquiring services: PSR interim report - The Payment Systems Regulator (PSR) has published its interim report on the supply of card-acquiring services. The PSR's market review follows concerns that the supply of...more

Hogan Lovells

Global Payments Newsletter, April 2020

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In this Newsletter: For previous editions of the Global Payments Newsletter, please visit our Financial Services practice page. On 3 April 2020 the European Commission issued a public consultation to help inform a retail...more

Robins Kaplan LLP

Financial Daily Dose 12.04.2019 | Top Story: Google Co-founders Step Down From Executive Roles at Parent Alphabet

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Google announced late Tuesday that co-founders Larry Page and Sergey Brin are “stepping down from executive roles at Google’s parent company, Alphabet.” Google CEO Sundar Pichai will now helm both operations, while Page and...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Federal Reserve bank released the minutes from its September meeting yesterday. Among other things, we learned that the Fed Governors moved largely in lockstep on September’s rate hike, even as the crew was less unanimous...more

Carlton Fields

Aw Schnucks! Seventh Circuit Dismisses Data Breach Class Action By Financial Institution Plaintiffs Under Economic Loss Doctrine

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The Seventh Circuit recently upheld the dismissal of a novel putative class action filed by financial institutions against grocer Schnuck Markets (“Schnucks”) based on the economic loss doctrine. ...more

McAfee & Taft

Biometrics usher in new era of privacy laws, litigation risks

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In an effort to improve data security, many banking and retail companies have begun using biometric data, such as fingerprints and other physical features, as high-tech replacements for passwords. In view of these efforts,...more

Farrell Fritz, P.C.

Cannabis Business? The Impact of Federal Law Might Reach Further Than You Think.

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Everyone involved, or thinking about becoming involved, in the cannabis business is aware of the conflict between the laws of those states legalizing marijuana and the Controlled Substance Act (the “CSA”). The CSA is a...more

A&O Shearman

Key Regulatory Topics: Weekly Update - 10 November 2017 – 16 November 2017

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BREXIT - UK Finance proposes model for post-Brexit financial services under EU-UK trade agreement - On 16 November, UK Finance published a report entitled "Supporting Europe's economies and citizens: a modern approach...more

Robinson+Cole Data Privacy + Security Insider

Home Depot Settles Data Breach Class Action Case with Financial Institutions and Counsel for $42.55 million

Following its data breach in 2014, Home Depot was sued by thousands of financial institutions requesting recovery of costs associated with the issuance of new credit and debit cards to 50 million individuals affected by the...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Food and consumer products conglomerate Unilever’s making a big play for the Asian market with its $2.7 billion deal to buy Carver Korea, a South Korean-based skin care specialist....more

Ballard Spahr LLP

The Marijuana Industry and the Securities Laws

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Part Three of a Three-Part Series - In the third and final part of this series on marijuana-related businesses (“MRBs”), we explore how the Securities and Exchange Commission (“SEC”) and the Department of Justice (“DOJ”)...more

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