Popular, Competition, Financial Services Industry

UK Government Abolishes Payment Systems Regulator

Skadden, Arps, Slate, Meagher & Flom LLP on 3/14/2025

On 11 March 2025, the UK government announced its decision to abolish the Payment Systems Regulator (PSR) as part of a broader initiative to reduce regulatory burdens and stimulate economic growth. This action is intended to...more

Fintech trade group argues to sustain open banking rule

Orrick, Herrington & Sutcliffe LLP on 2/14/2025

On February 12, a trade group representing the fintech industry filed a motion to intervene in a pending lawsuit regarding the CFPB’s final rule on open banking, in order to defend it. The suit was filed originally by a bank...more

Brussels Regulatory Brief: November 2024

K&L Gates LLP on 12/13/2024

On 29 October 2024, the European Union and the UK government finalized the technical discussions on a competition cooperation agreement. This agreement will enable closer cooperation between the UK Competition and Markets...more

CFPB Finalizes Proposed Open Banking Rule on Personal Financial Data Rights

Perkins Coie on 11/20/2024

Background on Open Banking and the CFPB - The Consumer Financial Protection Bureau (CFPB) recently finalized a rule on personal financial data rights (Rule), implementing Section 1033 of the Consumer Financial Protection Act...more

Brussels Regulatory Brief: October 2024

K&L Gates LLP on 10/28/2024

On 18 September 2024, the General Court of the European Union (General Court) largely upheld the fine imposed by the European Commission (Commission) finding that a global tech company had engaged in predatory pricing of its...more

Why the Capital One-Discover Merger Makes Sense

Mogin Law LLP on 8/5/2024

When federal agencies review bank mergers, the competition issues typically relate to the number and location of physical branches and the extent of any overlap in the areas served. By contrast, the proposed $35 billion...more

Brussels Regulatory Brief: April 2024

K&L Gates LLP on 5/17/2024

Antitrust and Competition - European Commission Charges Company with Providing Incorrect, Incomplete, and Misleading Information During a Merger Control Proceeding - On 19 March 2024, the European Commission (Commission) sent...more

Europe Daily News, 20 March 2024

Mayer Brown on 3/21/2024

COMPETITION - Non-opposition to a notified concentration (Case M.11298 - Bilfinger / Stork Europe) - Non-opposition to a notified concentration (Case M.11490 - Blackrock / Canadian Solar / Recurrent Energy)...more

Brussels Regulatory Brief: November 2023

K&L Gates LLP on 12/7/2023

Antitrust and Competition - European Commission Approves Consolidation in the Ground Transportation Sector Subject to Remedies - The companies are two global suppliers of signalling systems for mainline and urban railway...more

AI in Europe: Road Map for Navigating the IP, Data Protection and Regulatory Considerations

Skadden, Arps, Slate, Meagher & Flom LLP on 9/19/2023

Organizations developing or using generative AI tools should implement cross-functional governance frameworks to develop and continuously monitor their use of such tools. From the earliest stages of generative AI use,...more

ESG in 2023: A Mid-Year Review

Skadden, Arps, Slate, Meagher & Flom LLP on 7/18/2023

As predicted in our February 1, 2023, client alert, “ESG in 2022 and Predictions for 2023,” a global economic slowdown and ongoing backlash in the U.S. have slowed the momentum of some aspects of the environmental, social and...more

Treasury Calls for Enhanced Supervision of Fintech Partnerships

Morrison & Foerster LLP on 12/7/2022

On November 16, 2022, the Department of Treasury (“Treasury”) issued a report titled “Assessing the Impact of New Entrant Non-bank Firms on Competition in Consumer Finance Markets” (“Treasury Report”), which, among other...more

Consumer Regulators' Role in Biden Administration's Framework on Digital Assets

Akerman LLP on 9/26/2022

Earlier this year, President Biden issued an Executive Order on Ensuring Responsible Development of Digital Assets ("Digital Assets EO"). The Digital Assets EO directed over 20 federal agencies to provide the Administration...more

Overview of President Biden’s Non-Compete Agreement Executive Order

Eversheds Sutherland (US) LLP on 7/21/2021

On July 9, 2021, President Biden signed the Executive Order on Promoting Competition in the American Economy. The Order, breathtaking in scope, asserts as a key goal the desire to improve the lives of consumers through...more

Brussels Regulatory Brief: May 2021

K&L Gates LLP on 6/10/2021

ANTITRUST AND COMPETITION - A Subsidiary can be Held Liable for the Harm Caused by the Anticompetitive Conduct of its Parent Company - On 19 July 2016, the European Commission (the Commission) imposed fines on several car...more

Global Payments Newsletter, March 2021

Hogan Lovells on 3/25/2021

Regulatory Developments - United Kingdom: Kalifa Review of UK FinTech published - On 26 February 2021, HM Treasury published the Kalifa Review of UK FinTech, identifying priority areas to support the UK’s fintech sector. The...more

Financial Daily Dose 10.12.2020 | Top Story: Court Rules Apple Doesn’t Have to Offer Fortnite in App Store

Robins Kaplan LLP on 10/12/2020

Big Friday win for Apple in its ongoing battle with Epic Games, as N.D. Cal. Federal Judge Yvonne Gonzalez Rogers ruled that Cook & Co. didn’t “need to reinstate the popular video game Fortnite in its App Store,” a blow to...more

Financial Daily Dose 12.18.2019 | Top Story: Fiat Chrysler and Peugeot Boards Agree to $50 Billion Merger

Robins Kaplan LLP on 12/18/2019

Fiat Chrysler and rival Peugeot have agreed to binding merger terms that, if approved by US and European regulators, would create a “$50 billion auto giant that would rank among the world’s largest car companies by sales”....more

Financial Daily Dose 11.19.2019 | Top Story: T-Mobile Chief John Legere to Leave Company in April

Robins Kaplan LLP on 11/19/2019

T-Mobile chief and fan-of-magenta John Legere has announced that he’ll be stepping down in April at the end of his current contract. Legere will be succeeded by Mike Sievert, the carrier’s current president and COO....more

ACCC on a Criminal Cartel Warpath: ANZ, Deutsche Bank, Citigroup and Individuals Charged

Jones Day on 8/3/2018

Although Australia's Competition and Consumer Act 2010 (Cth) has contained criminal cartel prohibitions since 2009, the Australian Competition and Consumer Commission has now made criminal cartel enforcement one of its top...more

Financial Regulatory Developments Focus - July 2018

A&O Shearman on 7/5/2018

In this week's newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

Australia & New Zealand Consumer Law Update

Jones Day on 4/23/2018

Highlighting Changes of Interest in Competition and Consumer Law - ACCC Issues Paper on Digital Platforms Inquiry - Summary - In December 2017, the Australian government directed the ACCC to conduct an inquiry into...more

What blockchain can learn from the net neutrality debate: antitrust and regulatory aspects of “paid prioritization” for a nascent...

Hogan Lovells on 11/7/2017

First come, first served. That’s not the principle behind the clearance of Bitcoin transactions. Equally for other blockchain technology networks, the relevant factor to get a transaction on the next available block is not...more

Competition Bureau Launches FinTech Market Study

Blake, Cassels & Graydon LLP on 5/26/2016

On May 19, 2016, the Competition Bureau (Bureau) announced that it has launched a market study into technology led innovation in the Canadian financial services industry (FinTech); FinTech was identified as a subject matter...more

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