Legal Issues With Blockchain in Banking and Fintech: Implementing New Applications
Leveraging DLT Platforms for Recordkeeping, Payments, KYC, and More; Concerns With Regulation, Privacy, Adaptation
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will provide finance and lending counsel with an examination of current and potential uses of blockchain in banking and fintech. The panel will discuss the advantages of distributed ledger technology (DLT) in cost-efficiency, cybersecurity, and fraud protection, as well as the legal and structural concerns in implementation.
Outline
- DLT/blockchain/smart contracts explained
- Regulatory framework
- Federal
- State
- International
- Applications in banking and fintech
- Recordkeeping
- KYC (know your customer)
- Trading platforms
- Raising capital
- Bitcoin and other virtual currencies
- Payments/money transmission businesses
- Other
- Challenges to implementation
Benefits
The panel will review these and other highly relevant issues:
- What is a distributed ledger, and how does it change the way transactions and information are documented?
- What are some of the current and proposed uses of blockchain in banking and fintech?
- What are the advantages of DLT and blockchain as to data security, efficiency, and fraud protection?
- What legal issues arise with DLT and blockchain that are not present with more conventional formats for transacting business?
Faculty
Michael C. Egan
Partner
Cooley
Mr. Egan advises clients across various industries, including global online businesses, pharmaceutical companies,... | Read More
Mr. Egan advises clients across various industries, including global online businesses, pharmaceutical companies, healthcare providers, manufacturers, financial institutions, sourcing providers, retail companies, and other organizations regarding the legal aspects of global privacy and data protection, data security, information technology, and related restrictions on data collection and transfer. He focuses on these issues in the context of: global company operations and applications, including websites, mobile and e-commerce applications; data security breach and incident response; transactions; litigation; internal investigations; and government inquiries.
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Rebecca J. Simmons
Partner
Sullivan & Cromwell
Ms. Simmons practices in the firm’s Financial Services and Capital Markets Groups, is head of its payments... | Read More
Ms. Simmons practices in the firm’s Financial Services and Capital Markets Groups, is head of its payments practice and co-head of its FinTech practice. She represents clients in the development of payments, settlement, clearing and other financial technology businesses and systems; in the structuring and development of financial products, novel securities and structured transactions; in insolvency related matters and resolution planning, including living wills; and in regulated transactions such as the development of new lines of business and corporate acquisitions. Ms. Simmons’ practice areas include U.S. banking and commodities laws and regulation, payments, technology and outsourcing matters, bankruptcy and insolvency issues relating to complex transactions, corporate restructuring, derivatives structuring and regulation, U.S. securities laws and capital markets transactions.
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