Latest Legal News: Finextra Research

Company update/Legal

Slaughter and May adds startups to Fintech Fast Forward programme

Slaughter and May, the leading international law firm, today announces that 11 tech businesses in total have now joined its Fintech Fast Forward programme.

31 October 2017

Company update/Legal

Appeal and judicial review applications filed in £14bn Mastercard consumer claim

Lawyers for Walter Merricks CBE have filed applications with both the Court of Appeal and the Administrative Court of the High Court, the latter by way of judicial review, for permission to appeal the Competition Appeal Tribunal’s (CAT) decision to refuse to allow the proposed £14bn collective action on behalf of 46 million consumers seeking damages from Mastercard due its illegal card fees to proceed.

27 October 2017

Company update/Legal

Law firm Addleshaw Goddard opens applications for second fintech programme

Following the resounding success of 'AG Elevate', originally launched in November 2016, Addleshaw Goddard has today announced its 2018 programme to support FinTech growth with an expanded program for participants.

04 October 2017

Company update/Legal

RegTech startup Apiax secures $1.5 million in seed funding

Apiax, a RegTech startup transforming complex regulations into easy-to-use digital compliance rules, today announced its Seed Round raise of more than $1.5 Million.

28 September 2017

News/Legal

Ripple and R3 trade blows in legal dispute

Blockchain startups Ripple and R3 are going to court to resolve a dispute over the unilateral termination by Ripple of an options contract on its XRP digital currency unit held by R3.

11 September 2017

News/Legal

Square applies for bank status

Square, the fintech startup headed by Twitter founder Jack Dorsey, has made an official application in the US for a banking license, ending months of speculation about its plans but also reigniting the argument about the use of industrial loans charters (ILCs).

07 September 2017

News/Legal

Intel granted review into its €1bn EU fine

Chip processor Intel has taken a significant step towards overturning a €1bn fine imposed by the European Commission (EC) after it won the right to a review.

07 September 2017

News/Legal

New EC rules could enable banks to increase their software spending

European banks under siege from digital challengers and sophisticated cyber attackers could face some relief from a possible change in accounting rules that will enable them to spend more on new software.

06 September 2017

News/Legal

China's central bank issues instant ban on initial coin offerings

The People's Bank of China (PBoC) has announced an immediate ban on initial coin offerings (ICOs)declaring them illegal and a threat to financial stability.

04 September 2017

News/Legal

JPMorgan criticised over mobile app patent award

JPMorgan Chase, the biggest bank in the US, has been awarded a patent for the technology that allows mobile applications that talk to each other, attracting criticism from the tech and intellectual property community that believe the process is so commonplace in today's smartphones that no single company, least of all a bank, can lay claim to the patent.

01 September 2017

News/Legal

Briton extradited from Germany over bank cyberattacks

Daniel Kaye, a 29 year old from Surrey, has been extradited from Germany to face allegations that he was responsible for a series of cyberattacks against two UK high street banks - Lloyds and Barclays.

31 August 2017

News/Legal

Australia regulates digital currencies

The Australian government has announced plans to strengthen its anti-money laundering rules with new reforms that will include digital currencies for the first time.

18 August 2017

Company update/Legal

Simmons and Simmons wins Fintech Hive legal gig

International law firm Simmons & Simmons will be a legal partner to FinTech Hive at Dubai International Financial Centre Authority (DIFC), the first-of-its-kind accelerator in the Middle East, Africa and South Asia (MEASA) region.

14 August 2017

News/Legal

Permission to appeal sought in £14bn Mastercard class action suit

Walter Merricks, the man spearheading a £14 billion class action lawsuit against Mastercard for overcharging customers, has lodged an appeal against a tribunal's decision to dismiss the claim.

14 August 2017

News/Legal

Cryptocurrency exchange operator indicted over massive bitcoin laundering scam

A US jury has indicted a Russian man arrested earlier this week in Greece accused of helping to launder more than $4 billion in bitcoin, including some obtained from the infamous Mt. Gox hack. In a coordinated move, the bitcoin exchange he operated has been slapped with a $110 million fine by American authorities for AML law violations.

27 July 2017

News/Legal

UK judge blocks £14bn class action suit against Mastercard

A Tribunal Court judge has blocked a £14 billion class action lawsuit against Mastercard for overcharging customers, agreeing that the claims were not suitable under the current collective actions regime.

21 July 2017

Company update/Legal

ITC upholds Diebold claims against Hyosung

Diebold Nixdorf, Incorporated (NYSE: DBD) today announced that the International Trade Commission (ITC) has upheld a preliminary ruling on a patent infringement claim by Nautilus Hyosung related to automated teller machines (ATMs).

18 July 2017

Company update/Legal

Westpac opens $40,000 innovation challenge for professional services sector

Those with a bold vision or bright idea for the future of the professional services sector are invited to enter the prestigious annual Westpac Innovation Challenge, for the chance to win AU$40,000 and professional support to take their idea to the next level.

17 July 2017

Company update/Legal

Thomson Reuters and Logical Construct combine to cut through contract jargon

Thomson Reuters has teamed up with Logical Construct to help global financial institutions gain visibility into the key legal and economic terms and risks hidden within their legal documentation with a full-service contract data management solution.

13 July 2017

News/Legal

Competition watchdog forces ICE to sell Trayport

The UK's Competition and Markets Authority (CMA) has told Intercontinental Exchange that it must not only sell Trayport but also rip a commercial agreement with the energy trading technology shop it acquired for $650 million less than two years ago. ICE says it will comply.

07 July 2017