Latest Legal News: Finextra Research

US Treasury fintech report to make regulatory recommendations

A much anticipated report from the US Treasury on regulatory reforms for the fintech sector is set to recommend the use of regulatory sandboxes and fintech charters at both a state and federal level.

22 June 2018

Company update/Legal

Lemonade files suit against One Insurance

Lemonade today filed suit against ONE Insurance, its parent, wefox Group, and founder, Julian Teicke. Any proceeds will go to Code.org.

15 June 2018

News/Legal

Singapore to develop ethical code for AI and personal data use

Singapore's government has outlined plans to develop a governance programme around the use of artificial intelligence and personal data in its bid to become an international centre for new technology.

13 June 2018

News/Legal

UK launches £2.5bn startup initiative

The UK government has launched a series of initiatives designed to attract more foreign fintech experts to work for UK startups and to encourage those same startups to remain in the UK rather than uproot to an EU-based neighbouring jurisdiction.

13 June 2018

News/Legal

USAA sues Wells Fargo over remote deposit capture patents

USAA has filed a federal lawsuit against Wells Fargo alleging patent infringement on its mobile remote deposit capture technology.

11 June 2018

Company update/Legal

Patent abuse claims against FactSet and Revere to go to jury trial

A San Francisco state court has ruled that fraud and breach of contract claims brought by plaintiff Ashbury Heights Capital against FactSet Research Systems (NYSE:FDS), Revere Data and its founder Doug Engmann are sufficiently supported by evidence and may proceed to trial.

07 June 2018

Company update/Legal

Accord Project to support R3's Corda

The Accord Project, the legal industry body for smart legal contracts, and enterprise software provider R3 today announced a technology partnership to develop support for Corda, R3’s blockchain platform, in the open source legal layer incubated by the Accord Project.

07 June 2018

News/Legal

Irish bank caught in social media spying storm

Allied Irish Bank (AIB) has been accused of spying on its customers after it emerged that it monitors mortgage holders' social media accounts

14 May 2018

Company update/Legal

Mastercard and Cinkciarz trademark dispute grinds on

Cinkciarz.pl wins against MasterCard. The company refuted MasterCard's objections against the registration of the Cinkciarz.pl company trademarks. In Europe alone Cinkciarz.pl has won every one of the 12 proceedings in which a decision has been made.

10 May 2018

Company update/Legal

Barclays and the Law Society launch 'law-tech' incubator

Barclays today launched a new law-tech incubator in partnership with the Law Society.

25 April 2018

Company update/Legal

FRT class action recovery tech to be made available on Eagle platform

Financial Recovery Technologies (“FRT”) and Eagle Investment Systems LLC, a BNY Mellon company and leading provider of financial services technology, have established a strategic alliance to offer Eagle clients FRT’s industry-leading securities class action recovery services.

24 April 2018

Company update/Legal

Law firm Nixon Peabody joins Wall Street Blockchain Alliance

The Wall Street Blockchain Alliance (WSBA), an industry leading non-profit trade association with a mission to guide and promote comprehensive adoption of blockchain technology around the world, is proud to announce that the global law firm of Nixon Peabody LLP has joined the organization as a corporate member.

12 April 2018

News/Legal

NAB at centre of multi-million dollar supplier fraud

Australian police are conducting investigations into a multi-million dollar fraud at NAB involving corrupt invoice payments to an external supplier.

10 April 2018

News/Legal

India's central bank issues cryptocurrency ban

The Reserve Bank of India (RBI) has banned regulated banks and its account holders from dealing in cryptocurrencies.

06 April 2018

News/Legal

HSBC 'whistleblower' arrested in Spain

Spanish police have arrested a former HSBC IT worker who prompted a tax evasion scandal when he leaked the details of thousands of the bank's Swiss private banking unit's customers.

05 April 2018

News/Legal

Microsoft defends support for controversial Cloud Act

A long-running court battle between Microsoft and the US government about whether the latter had the right to access emails held in Microsoft's Irish data centre has come to an anticlimactic end after a judge dismissed the case, ruling it to be "moot" due to the recent passing of the Cloud (Clarifying Lawful Overseas Use of Data) Act.

05 April 2018

News/Legal

SEC KO's Mayweather-backed ICO over fraud allegations

An initial coin offering (ICO) that raised $32m and was backed by celebrity boxer Floyd Mayweather has been dealt a knockout blow after the US Securities and Exchange Commission (SEC) arrested the company's founders for fraud.

04 April 2018

News/Legal

South Africa's central bank mulls cryptocurrency regulations

The South African Reserve Bank (Sarb) is setting up a dedicated unit to monitor cryptocurrency and fintech developments and inform future regulations and its first job will be to set up a proof of concept (PoC) for DLT-based interbank clearing and settlement.

04 April 2018

News/Legal

Blind woman sues CBA over touchscreen POS machines

A blind woman has lodged a lawsuit against Commonwealth Bank of Australia over its "inaccessible" touchscreen-only Albert POS terminal, which she says is so difficult to use she often needs to share her PIN with shop staff.

16 March 2018

News/Legal

Former Equifax CIO charged with insider trading

A former Equifax executive has been charged by US authorities with insider trading, accused of selling off all of his stock in the credit rating agency last summer before it revealed it had suffered a massive data breach.

15 March 2018