Based in New York, A&O Shearman‘s financial institutions advisory and regulatory practice exhibits extensive experience dealing with core bank regulatory issues, with a further emphasis on broker-dealer compliance and enforcement. Mark Chorazak and Jennifer Morton are key figures in this regard, covering issues derived from US banking laws such as the Dodd-Frank Act and the Bank Holding Act as well as fintech and financial innovation matters. Morton is best known for her work with broker-dealers, addressing concerns in relation to the formation and registration of alternative trading systems.
Financial services regulation in United States
A&O Shearman
Practice head(s):
Mark Chorazak; Jennifer Morton
Key clients
Gemini Trust Company
JPMorgan Chase
Bank of America Merrill Lynch
Banco Itaú Unibanco
RealCadre
Morgan Stanley
Banco Bradesco
CVEX Group
Sumitomo Mitsui Banking Corporation
Mizuho Financial Group
Bank of Nova Scotia
Intercontinental Exchange
Citigroup
Barclays
Banco Bradesco
Development Bank of Japan
Landesbank Baden-Württemberg
Rabobank
BNP Paribas
Plaid
Arnold & Porter
Arnold & Porter‘s capabilities in the field of financial services regulation extends to both banking and consumer finance issues, with the department handling work surrounding the Bank Secrecy Act and AML rules, ESG guidance, fintech programs and fair lending matters, having had recently expanded its offering by forming a multidisciplinary cryptocurrency group. David Freeman leads the practice and is a key contact for financial institutions, investment managers, and broker-dealers seeking counsel on securities regulatory, M&A and product development matters. Michael Mancusi represents a portfolio of leading banks and credit unions in state and federal regulatory, as well as enforcement work, while senior counsel and enforcement expert Christopher Allen is regularly engaged to advise on AML compliance, fair-lending investigations and consumer protection. All named lawyers are based in Washington DC.
Practice head(s):
David Freeman
Other key lawyers:
Michael Mancusi; Christopher Allen
Key clients
BAWAG
Bessemer Trust
The Charles Schwab Corporation
The Depository Trust & Clearing Company
Federated Hermes
First Republic Bank
F.N.B. Corporation
First National Bank of Pennsylvania
Sterling Bank & Trust
Stifel Trust Company
Stifel Financial Corp.
Stifel Bank
Work highlights
- Advised First Citizens BancShares on its all-stock merger of equals with CIT Group.
- Advised Sterling Bank and Trust in various bank regulatory matters, including by providing counsel on supervisory inquiries and examinations.
- Advised F.N.B. Corporation, as regulatory counsel, in its merger with Baltimore, Maryland-based Howard Bancorp.
Ballard Spahr LLP
The consumer financial services group at Ballard Spahr LLP offers comprehensive advice covering complex CFPB and agency regulatory, enforcement and litigation matters. The team is also recognized for its knowledge of cybersecurity and artificial intelligence, allowing it to attract a variety of payment system providers, fintech firms and private equity firms as clients. Daniel McKenna and John Socknat steers these efforts, working out of the Philadelphia and Washington DC offices, respectively; in Pennsylvania, John Culhane is noted for his student lending law knowledge. Former CFPB official Michael Gordon joined the firm in March 2022, with Mark Furlettti leaving in February 2022.
Practice head(s):
Daniel McKenna; John Socknat
Other key lawyers:
John Culhane; Michael Gordon; Lisa Lanham
Testimonials
‘The Ballard Spahr team provides some of the most informative, practical, and relevant advice and guidance in the industry. Their client education on important industry topics is always timely, on-point, and practical. They do not simply repeat the issue, they sincerely put forth effort to educate their clients as to options and suggestions to address the issue.’
‘Michael Gordon brings a perspective on regulatory matters that others may not have, in light of his past experience within a federal regulatory office.’
‘Lisa Lanham’s knowledge in relation to financial services licensing requirements and regulation, coupled with the relationships she has built within regulatory agencies has been very beneficial in moving license projects and issues forward efficiently and effectively.’
Key clients
Discover Financial Services
Goldman Sachs
Accenture Credit Services
Lending Club
Social Financial
Bread Financial
Toyota Financial Services
American Bankers Association
Consumer Bankers Association
Snap Finance
Pennsylvania Higher Education Assistance Agency
Community Loans of America
Cadwalader, Wickersham & Taft LLP
Cadwalader, Wickersham & Taft LLP considers banks, foreign banking organizations, fintech companies, mortgage lenders and auto lenders as key clients, advising these in a variety of banking and consumer finance regulatory work, including in relation to the Volcker Rule, capital adequacy, derivatives and initial margin requirements. New York-based James Frazier and Ivan Loncar share leadership of the banking-focused offering, acting as main points of contact for the likes of Bank of America, Citigroup and Credit Suisse, while Rachel Rodman and Mercedes Turnstall, the latter of whom joined in April 2022 from Loeb & Loeb LLP, spearhead financial regulation matters from a consumer perspective, playing an active role in investigations, enforcement and litigation in the space. In April 2022, Peter Malyshev joined from Reed Smith LLP, with senior counsel Scott Cammarn having retired the same month. Daniel Meade left the firm in January 2024.
Practice head(s):
James Frazier; Ivan Loncar
Other key lawyers:
Rachel Rodman; Mercedes Turnstall; Peter Malyshev
Key clients
ABN AMRO
Ally Financial
Alternative Reference Rates Committee
Annaly Capital Management
Bank of America
Bank of Ireland
Bank of Montreal
Bank of Nova Scotia
Barclays
BNP Paribas
Canadian Imperial Bank of Commerce
Castle Creek Capital
CITIC Securities
CLSA
Citigroup
Common Bond
Community Bank System
Credigy
Credit Agricole
Credit Suisse
Deutsche Bank
Dexia
Federal Home Loan Mortgage Corp
First Key
Goldman Sachs
Gresham
HSBC
Industrial and Commercial Bank of China
ING
JPMorgan Chase
LendingHome
Macquarie
Mizuho
Morgan Stanley
MUFG
National Bank of Canada
Natixis
Navient
Park Avenue Finance
Royal Bank of Canada
Santander
Seacoast National Bank
Shanda Asset Management
Shell Oil Company
SkyKnight Capital
Social Finance
Société Générale
Standard Chartered Bank
State Street Bank
TD Bank
The Bank of New York Mellon
TIAA
UBS
United Overseas Bank
Wells Fargo
Wintrust
Cleary Gottlieb Steen & Hamilton
Cleary Gottlieb Steen & Hamilton continues to offer standout knowledge of restructurings, asset management, derivatives, and M&A as well as matters applicable to emerging trends in the fintech, digital assets and cybersecurity spaces, with a client roster featuring major US and foreign financial institutions and trade associations. Recent highlights include the team’s representation of Custodia Bank in connection with its application to access the Federal Reserve’s payment system and its role as primary counsel to the Institute of International Bankers, with the team advising on various issues arising out of the entity’s day-to-day activity. Active in both matters, Derek Bush spearheads the group’s efforts from Washington DC and New York, leading Hugh Conroy and counsel Patrick Fuller in New York, recognized for their broad range of expertise, encompassing banking regulations, transactional and enforcement matters.
Practice head(s):
Derek Bush
Other key lawyers:
Hugh Conroy; Patrick Fuller; Deborah North
Key clients
Custodia Bank
ING
BNP Paribas
Citigroup
Credit Suisse
Deutsche Bank
Goldman Sachs
Standard Chartered
Institute of International Bankers
American Express
Banco Estado
BBVA
HSBC
Natixis
Mizuho Financial Group
Bank of America
Toronto Dominion Bank
PayPal
Sumitomo Mitsui Banking Corporation
Societe Generale
Work highlights
- Advised Custodia Bank in connection with its application for access to the Federal Reserve’s payment system, and for membership in the Federal Reserve System.
- Representing the IIB in legal and regulatory issues and developments, including cross-border taxation, prudential regulation by the Federal Reserve of internationally headquartered banks and a variety of regulations.
- Advising TD Bank on a range of issues related to resolution planning and regulatory capital requirements, including new requirements that arise as a result of TD Bank becoming a Global Systemically Important Bank.
Cooley LLP
Cooley LLP provides a comprehensive offering to fintech companies, banks, auto lenders, and payment platforms seeking advice on regulatory compliance, innovative products, and fair lending, exhibiting a ‘diverse range of legal and regulatory knowledge and experience‘. The three-partner leadership team in Washington DC consists of Obrea Poindexter, a name to note amongst fintech, technology and marketplace companies, litigation and enforcement specialist Michelle Rogers and Sean Ruff, a financial products expert. Rogers joined from Buckley LLP in early 2022, bringing Joshua Kotin and Katherine Katz alongside her. Special counsel Adam Fleisher is another standout, engaged on a regular basis by start-ups and payment services companies to advise on money transmission regulations.
Practice head(s):
Obrea Poindexter; Michelle Rogers; Sean Ruff
Other key lawyers:
Joshua Kotin; Katherine Katz; Adam Fleisher
Testimonials
‘The team at Cooley is always responsive, prompt, and flexible, while demonstrating a diverse range of legal and regulatory knowledge and experience. I have experienced the same level of professionalism and collaboration across all levels at the firm.’
‘The practical knowledge the attorneys at Cooley have is top tier. From the first interaction with Michelle Rogers and her team, we knew we were in good hands. Michelle and team were not just familiar with the law, but had insight into the regulatory tone in Washington DC, and were able to quickly understand operational challenges as well as compliance arguments. Michelle and her team helped us to put our best foot forward at a time when there was no other option and did so in a prompt and timely manner!’
Cravath, Swaine & Moore LLP
Cravath, Swaine & Moore LLP’s bank regulatory offering is led by David Portilla, and handles matters encompassing matters relating to banking, cryptoasset, digital currency and M&A transactions. The firm’s reach was further enhanced by the opening of a new office in Washington DC led by Jelena McWilliams, who joined in July 2022 from her previous role as the chairman of the Federal Deposit Insurance Corporation. In August 2022, Elad Roisman joined the firm from the SEC, bringing with him extensive knowledge of reporting and disclosure obligations and corporate governance.
Practice head(s):
David Portilla
Other key lawyers:
Jelena McWilliams; Elad Roisman
Testimonials
‘Government experience & ability to understand and adapt to the client’s specific needs. Also availability to deal with any type of problem with thoughtful advice.‘
Key clients
Afterpay
Cowen
Credit Suisse
Dfinity
ECN
Financial Services Forum
GreenSky
Morgan Stanley
Securities Industry and Financial Markets Association
Silicon Valley Bank
Texas Capital Bancshares
Westpac
Work highlights
- Advising to Cowen in connection with its pending $1.9bn acquisition by TD Bank.
- Advising Texas Capital Bank in connection with the $3.4bn sale of BankDirect Capital Finance to Truist.
Davis Polk & Wardwell LLP
Davis Polk & Wardwell LLP is a popular choice among major banks, financial institutions, fintech and technology companies for regulatory matters, supervisory actions, bank partnership agreements, anti-money laundering, and broader compliance issues arising out of M&A and securities offerings. Areas of growth for the practice include cryptocurrency and stable coin regulation, with the team’s efforts led by Randall Guynn and Margaret Tahyar, key names in the field for a range of strategic M&A and capital markets transactions, contentious hearings, business reorganizations and regulatory approvals. Also notedis Luigi De Ghenghi, active on enforcement as well as capital and liquidity requirements mandates, with Gabriel Rosenberg, another standout, handling matters related to the fintech, derivatives and securities spheres. The group’s recent advice to Citigroup in relation to consent orders from the OCC and the Federal Reserve was a key highlight for 2022.
Practice head(s):
Randall Guynn; Margaret Tahyar
Other key lawyers:
Luigi De Ghenghi; Gabriel Rosenberg
Key clients
Citigroup
Davis Wright Tremaine LLP
Davis Wright Tremaine LLP’s financial services team, which is spread across the firm’s Washington DC and New York offices, handles matters surrounding both banking and consumer finance regulation; key areas of expertise include credit card cobrand, private label, network and mobile payments deals as well as payment processing, open-ended credit products, loans and financial management. In Washington DC, Kevin Petrasic and Brian Hurh lead the practice, with knowledge of core banking regulatory issues and federal payments and financial privacy laws, respectively. Also in DC, associate Matthew Bornfreund is another notable team member, facilitating relationships between technology companies and financial services providers.
Practice head(s):
Kevin Petrasic; Brian Hurh
Other key lawyers:
Matthew Bornfreund; James Mann
Testimonials
‘Kevin Petrasic is extremely knowledgeable about banking and bank regulations. In our conversations, he clearly displayed the ability to understand all sides and work to find equitable resolutions that both sides could accept. He has a mild manor and is easy to work with.’
‘James Mann and Kevin Petrasic are bright, creative and experienced, I would not hesitate to recommend them to others.’
Key clients
CTA
CQ
UTP Plans
Debevoise & Plimpton LLP
Debevoise & Plimpton LLP offers a highly specialized team dedicated to a full gamut of regulatory, litigation and transactional factors affecting banking institutions, foreign banks, and affiliated broker-dealers. Apart from its traditional clientele, the firm is also retained by non-bank institutions looking to enter the space or offer banking products, which includes insurers and private equity firms. Led by Satish Kini in Washington DC, a name to note for leading industry trade associations facing regulatory reform issues and Gregory Lyons in New York, with experience representing private equity firms in their investments, the team is capable with regard to Volcker Rule matters, US bank formation as well as foreign bank and M&A-related regulation. Corporate expert Jeffrey Robins is another standout in New York, acting for broker-dealers, swap dealers and securities exchanges in a range of matters, accompanied by recently promoted Caroline Swett, a key contact for domestic and foreign banks seeking regulatory, enforcement and transactional advice.
Practice head(s):
Satish Kini; Gregory Lyons
Other key lawyers:
Jeffrey Robins; Caroline Swett; Robert Dura
Testimonials
‘They have a strong AML, anticorruption and sanctions practice. The team is quite diverse as well. They have former regulators on staff to provide advice.’
‘Satish Kini, Aseel Rabie, Robert Dura are all excellent subject matter experts.’
Key clients
American International Group
Citizens Bank
Fifth Third Bancorp
Financial Services Forum
Israel Discount Bank of New York
Oaktree Capital Management
Work highlights
- Advised American International Group in the $2.2bn all-cash sale of a 9.9% equity stake in its Life & Retirement business to Blackstone.
- Represented Citizens Financial Group in the acquisition of $9bn of deposits, loans and the East Coast Branch network of HSBC Bank USA.
- Advising Fifth Third Bank in a strategic partnership with, and a minority investment in, Bellwether Enterprises, a fintech commercial mortgage and multi-family provider.
Dentons
Dentons‘ consumer finance regulatory group, which sits within the wider capital markets department at the firm, places a strong focus on the residential mortgage and consumer finance markets, with settlement service providers, credit reporting agencies, credit unions, private equity funds and national banks making up a significant proportion of the team’s client base. Leadership of the team is divided between Matthew Yoon in New York and John Holahan in Washington DC. Another key name in the team is New York-based Joshua Jordon, whose practice focuses on federal, state and local consumer credit laws affecting a range of institutions.
Practice head(s):
Matthew Yoon; John Holahan
Other key lawyers:
Joshua Jordon
Key clients
Nomura
Citi
Barclays
Work highlights
- Advised Barclays’s mortgage trading and underwriting desks on Wall Street in connection with the management of financing lines and residential mortgage assets.
- Advised Citi’s mortgage financing, trading and securitization desks on regulatory issues.
- Advising Nomura’s whole loan trading, financing and securitization businesses in the United States on regulatory issues.
Eversheds Sutherland
Eversheds Sutherland showcases significant strength in the representation of broker-dealers, providing comprehensive advice on the impact of the SEC’s Regulation Best Interest and fiduciary duty regulations. Apart from its broker-dealer expertise, it often acts on behalf of coalitions with an aim to comply with regulatory requirements and shape existing rules; ESG regulation represents an area of growth for the group. Active in the firm’s Washington DC office are Stephen Roth, Steven Boehm, Cynthia Krus and Brian Rubin, who lead the team alongside Clifford Kirsch, a New York-based practitioner and key point of contact for the Financial Services Institute. Also noted in Washington DC, Holly Smith draws from her previous role at the agency to advise on issues relating to SEC regulation.
Practice head(s):
Stephen Roth; Steven Boehm; Cynthia Krus; Brian Rubin; Clifford Kirsch,
Other key lawyers:
Holly Smith
Key clients
The Financial Services Institute
AFC BDC
AIG
Allianz Life Insurance Company of North America
Allstate Life Insurance Company
Altmore BDC
American General Life Insurance Company
Arch Capital Group
Associated Electric & Gas Insurance Services
Athene Annuity & Life Co.
Axxes Private Markets Fund
BlackRock Private Credit Fund
Brighthouse Life Insurance Company
Capital One
Capital Southwest Corporation
Churchill Asset Management
CIM Real Assets & Credit Fund
Columbian Mutual Life Insurance
Committee of Annuity Insurers
Empower Retirement
Equitable Life Insurance Company
Fairfax Financial
Fidus Investment Corporation
Flat Rock Core Income Fund
Flat Rock Core Plus Fund
Flat Rock Opportunity Fund
Forethought Life Insurance Company
Further Global
GIC
Goldman Sachs BDC
Goldman Sachs Middle Market Lending Corp.
Golub Capital BDC
Great Elm Capital Corp.
Great-West Life & Annuity Insurance
Guardian Insurance and Annuity Company
GuideStone Funds
Horace Mann Educators
Lafayette Square Holding Co.
Legal & General
M Fund
Main Street Capital Corp.
MassMutual
Midland National Life Insurance Company
Monroe Capital Corporation
MSC Income Fund
MSD Investment Corp.
MunichRe and Munich America Reassurance Corporation
Mutual of America Life Insurance
National Western Life Insurance
Nationwide Life Insurance Company
New Mountain Finance Corporation
New Mountain Finance SLF I
New Mountain Guardian III BDC
New Mountain Guardian IV BDC
New York Life Insurance Company
Newtek Business Services Corporation
Nuveen Churchill Direct Lending Corp.
Nuveen Churchill Private Capital Income Fund
Nuveen Churchill SLF
OFS Capital Management
Owl Rock Capital Corporation
Owl Rock Capital Corporation II
Owl Rock Capital Corporation III
Owl Rock Core Income Corp.
Owl Rock Technology Finance Corp.
Owl Rock Technology Finance Corp. II
Pacific Life
Pan American Life
Pension Insurance Corporation
Phoenix Life
Priority Income Fund
Prospect Capital Corporation
Prospect Capital Management.
Prospect Sustainable Income Fund
Protective Life Insurance Company
Rand Capital Corporation
Resolution Life
Riversource Life Insurance Company
Royal & Sun Alliance
Runway Growth Capital
Runway Growth Finance Corp
Saratoga Investment Corporation
Security Benefit Life
Silver Spike Capital
Stellus Capital Investment Corporation
Sutter Rock Capital Corp.
Symetra Life Insurance Company
Talcott Resolution
The Financial Services Institute
Transamerica Life Insurance Company
Trinity Capital
Universal Life Insurance Company
Unum
USCF ETF Trust
Varagon Capital Corp.
Venerable Annuity
Voya Financial
Western & Southern Life
Wilton Re
Zell Capital
Zurich Insurance Group
Work highlights
- Acting as securities counsel for a coalition that includes circa 70 broker-dealers, which is affiliated with the members of the Committee of Annuity Insurers.
- Acting as on-going counsel for multiple broker-dealers on the impact of the SEC’s Regulation Best Interest and Form CRS as well as proposed fiduciary duty regulations.
- Acting as policy counsel to the FSI on a number of significant initiatives throughout the year, including the SEC’s Regulation Best Interest.
Greenberg Traurig LLP
Greenberg Traurig LLP‘s regulatory practice places a strong focus on consumer finance products and services, with mortgage, credit card, marketplace lending, digital banking, cryptocurrency and payment systems matters taking up a large proportion of the group’s time. Richard Cutshall leads the practice from Denver, accompanied by New York-based William Mack. The practice’s reach also extends to Washington DC, where Benjamin Saul stands out for his knowledge of the fintech credit and payments space, and Andrew Wein, who works out of the firm’s West Palm Beach office, is recognized as a mortgage specialist.
Practice head(s):
Richard Cutshall; William Mack
Other key lawyers:
Benjamin Saul; Andrew Wein; Marina Olman-Pal
Testimonials
‘I have had the pleasure of working with Marina Olman-Pal. She is very responsive and provides practical advice. She quickly understands complex set ups and is able to provide not only legal, but strategic guidance as well.’
Key clients
Paysafe Group
Five Flags Banks
GoDaddy
Concord Acquisition Corp
Leap Finance
Lendable Operations
Zendable
Quo Finance
Tandym
Ocwen
PWCC
Work highlights
- Represented Paysafe in connection with its acquisition of SafetyPay, a payments platform.
- Represented GoDaddy in connection with the acquisition and integration of Poynt Financial, an all-in-one payment platform.
- Represented Five Flags Banks in the merger of two of its subsidiary banks, The Warrington Bank and Bank of the South.
Haynes and Boone, L.L.P.
The financial services regulation practice at Haynes and Boone, L.L.P. offers ‘broad expertise‘ in global credit risk management, margin regulation and derivates and commodities work. Charlotte-based Todd Cubbage shares leadership of the team with Monika Sanford, who works out of the firm’s Austin office; in New York, credit risk management expert and ‘highly effective and knowledgeable’ Giorgio Bovenzi is another standout, working alongside managing partner and executive committee member Craig Unterberg, whose practice revolves around margin regulatory work and structured equity.
Practice head(s):
Todd Cubbage; Monika Sanford
Other key lawyers:
Giorgio Bovenzi; Craig Unterberg; Eitan Stavsky
Testimonials
‘Haynes and Boone is a very reputable law firm for financing, regulatory compliance funds and corporate finance matters. The team has an outstanding grip on the market and has a deep knowledge of banking regulatory matters. They distinguish themselves from their competitors by virtue of their client-oriented approach, in addition to being extremely technically strong and always on top of the latest regulatory developments in the market. Their constructive and commercial approach to transactions is impressive and extremely appreciable for business partners and clients, making them real dealmakers.’
‘Giorgio Bovenzi is an absolute star, with truly outstanding regulatory and industry knowledge. He is a very smart individual, and an excellent lawyer who can swiftly grasp and resolve any issue. He is stellar in client-service and has a particularly remarkable ability to see the big picture on a matter, whatever its size and complexity.’
‘This is a very strong team that encompasses a wide range of capabilities in particular in the cross-section of financial regulatory work, financial transactions and insolvency. In particular it is a team that is very adept at understanding cross-border nuances, making in-depth legal analysis and coming to actionable conclusions.’
‘The practice is unique because of the team’s ability to move quickly and their broad expertise and ability to get things done well. They provide a service that is as good as bigger names but with more attentiveness.’
‘Giorgio Bovenzi deserves particular mention for his constant and arduous attention to detail and to a longstanding relationship with key clients. Bovenzi is also an important presence in the International Bar Association and comes very highly regarded.’
‘Giorgio Bovenzi’s experience working on multi-jurisdictional advisory projects gives him an in-depth understanding of cross-border regulatory, risk and insolvency issues in all major trading jurisdictions. Giorgio can quickly identify the most significant risks for his clients in a given jurisdiction and recommend practical solutions based on his experience.’
‘Giorgio Bovenzi – highly effective and knowledgeable in both common law concepts and continental European law concepts. He also has developed a very broad and reliable international network of local counsel to provide opinions and guidance on local law in particular markets.’
‘Very commercial in their advice. They also do a great job keeping current on pending regulatory changes and have proven helpful with market introductions. Lastly, their service is exceptional — they provide solid advice under great pressure and immense time constraints.’
Latham & Watkins LLP
Latham & Watkins LLP stands out for its comprehensive advice to major financial institutions, global banks, investment firms, broker-dealers, trade associations and large fund complexes. Within this field of expertise, the team is regularly retained for derivates regulation, restructurings, financings, fintech matters and compliance with FINRA, NFA and SEC rulemaking, with further emphasis on broker-dealer IPO and other registered securities transactions. The three-partner leadership team in New York is made up of Stephen Wink, Alan Avery and Yvette Valdez, focused on securities regulatory, federal and state banking laws, and digital assets, respectively. As co-chair of the firm’s global digital assets and Web3 practice, Valdez is a key contact for derivatives work as well as cryptocurrency matters. Counsel Pia Naib is another standout for work relating to crypto assets, showcasing further expertise in anti-money laundering and issues relating to the US Bank Holding Company Act. Arthur Long joined the team in September 2022, previously at Gibson, Dunn & Crutcher LLP.
Practice head(s):
Stephen Wink; Alan Avery; Yvette Valdez
Other key lawyers:
Pia Naib; Marlon Paz; Arthur Long
Key clients
Coöperatieve Rabobank
Eldridge
National Bank of Canada
Octaura
StartEngine Capital
Securities Industry and Financial Markets Association
Primary Markets
SIMON Markets
Houlihan Lokey
Raymond James Financial
Lincoln International
Acorns Grow
Zanbato
Blockchain Association
Rush Harding III
Carlyle Group
Mizuho
J. Wood Capital Advisors
JP Morgan Chase
Bank of America
Goldman Sachs
BNP Paribas
MSD Capital
Samuel Reed
Sculptor Capital Management
Diversified Energy Company
Orion Energy Partners
Symphony Communication Services
Andreessen Horowitz
Oaktree Capital
Searchlight Capital Partners
Wealthfront
Work highlights
- Advised SIFMA on proposed SEC rule making regarding special purpose acquisition companies (SPACs) and de-SPAC transactions.
- Advising SIMON Group in its acquisition by iCapital, including on relevant broker-dealer and financial regulatory matters.
- Advised Rabobank in connection with its New York branch’s $30bn Medium Term Note (“MTN”) Programme.
Mayer Brown
Mayer Brown’s financial services regulatory and enforcement group divides its attention between banking and consumer finance regulatory work, representing financial banks, broker-dealers, residential mortgage lenders, payment system operators and non-mortgage consumer credit lenders on complex matters in the space. Jeffrey Taft and Steven Kaplan share leadership of the practice in Washington DC, with the former regularly acting as counsel for bank receivership, insolvency issues, payment systems and cybersecurity. Supporting these efforts are Steffen Hemmerich, a key contact for broker-dealers, financial services firms and fintech companies, and ‘determined‘ Matthew Bisanz, active on all relevant operations of insured depository institutions.
Practice head(s):
Jeffrey Taft; Steve Kaplan
Other key lawyers:
Steffen Hemmerich; Matthew Bisanz
Testimonials
‘Impressed with Matthew Bisanz. He’s a hardworking go-getter and dedicated networker.’
‘Matthew Bisanz is willing to look into any aspect of federal or state bank regulation, no matter how esoteric. He’s determined.’
‘The mortgage regulatory practice has deep and broad knowledge of the sector, industry practices and the rules and regulations.‘
‘Steve Kaplan and Larry Platt are excellent advisors who are able to provide cogent legal guidance across all aspects of the mortgage asset class.‘
Key clients
HSBC
Canadian Imperial Bank of Commerce
Desjardins Group
Sumitomo Mitsui Banking Corporation
Ally Financial
Charles Schwab Corporation
Bank of Montreal
Société Générale
Goldman Sachs
Bayview
American Express Company
Square
KKR
Rent-a-Center
Wells Fargo
Citibank
Finance of America
USAA
Redfin
Morrison Foerster
Handling both banking and consumer lending issues, Morrison Foerster offers considerable expertise in the financial services and fintech spaces. Within the context of banking regulation, the group excels in a range of compliance issues, covering enforcement matters, affiliate transactions, fund structuring and lending; regulatory advice surrounding lending products, payments processing, and strategic partnerships constitutes a large proportion of the team’s work in relation to consumer finance. Washinton DC-based Jeremy Mandell, who also acts as co-head of the firm’s fintech practice, focuses on payment and consumer credit products relating to emerging technologies, steering the financial services group alongside New York-based Barbara Mendelson, who is often sought by foreign and domestic banks in Volcker Rule, BSA/AML, OFAC and investigation matters. Marc-Alain Galeazzi accompanies the latter in New York, regularly advising clients on corporate governance, compliance and economic sanction issues, with fintech expert Crystal Kaldjob noted in DC. A key development was the arrival of Deborah Connor to the DC office in September 2022, who draws from her previous role as chief of the money laundering and asset recovery section at the US Department of Justice.
Practice head(s):
Jeremy Mandell; Barbara Mendelson
Other key lawyers:
Marc-Alain Galeazzi; Jason Shafer; Deborah Connor; Crystal Kaldjob; Maria Earley; Jeff Silberman; Evan Minsberg
Testimonials
‘Evan Minsberg has great depth and knowledge about the payment and fintech space. He is able to help the client navigate legal uncertainty.’
‘The team at Morrison Foerster works like an extension of the client’s team. They think critically about legal, regulatory, and business challenges and priorities, and work quickly and creatively to solve problems. They exhibit strength across multiple areas: technology, regulation, and business. It is clear the team truly cares about the success of the business and people, and they are willing to put in the time and effort to help it succeed.’
‘Jeff Silberman deserves specific praise. He thinks critically about the business, vision, challenges, and plans, and he works collaboratively to push forward. This level of care is extraordinary and hard to find. Combined with his level of knowledge in the industry, he has been an invaluable asset and team member.’
‘This firm is unique in their handling of start-up clients. Not only do the partners, such as Maria Earley, demonstrate a strong understanding of the limitations of a start-up company.’
‘Maria Earley is far and away one of the best lawyers. Her advice is grounded in the realities and practicalities of managing a start-up business. She helps understand the risks and offers solutions that are reasonable and that do not entail massive capital or time investments that the client may not have or may not want to incur.’
‘They are very practical and professional. They quickly understand products and can advise at a 10,000-foot basis, and then narrow it down.’
‘Jeremy Mandell and his team have a deep knowledge of payments system regulation and are critical in helping clients with complex regulatory questions.’
Key clients
CITIC Group Corporation
Bank of the Orient
China Merchants Capital
Morgan Stanley Private Equity Asia
New Omni Bank
American Bankers Association
Qoosh Technologies
Ocrolus
Bankers Healthcare Group
Percapita Group
Reich & Tang
Work highlights
- Advised CITIC Group Corporation in connection with the Bank Holding Company Act and its investment into China Huarong Asset Management, pursuant to a $6.6 billion government-orchestrated bailout of China Huarong.
- Represented Morgan Stanley’s private equity investment arm in the formation and ongoing operations of a PRC-domiciled, RMB-denominated private investment fund focused on investments in China.
- Advised New Omni Bank on a capital investment by the US Department of the Treasury under the Treasury’s Emergency Capital Investment Program (ECIP), including regulatory aspects of the investment.
Orrick, Herrington & Sutcliffe LLP
Following its merger with Buckley LLP, the team at Orrick, Herrington & Sutcliffe LLP‘s focus lies in the regulation of consumer financial services, covering a wide range of issues encompassing mortgages, credit cards, auto lending, short-term credit, payments and digital currency. The team, led by Los Angeles-based Clinton Rockwell and Christopher Witeck, handles fair lending matters involving enforcement agencies at a federal and state level and discriminatory allegations brought by municipalities as additional key areas of expertise. Rockwell, a co-managing partner at the firm, is highly sought for his experience advising mortgage companies, fintech lenders and secondary market loan purchasers, with founding partner Joseph Kolar also noted for his knowledge of mortgage and consumer loan contracts. Additional standout members include John Kromer and Jeffrey Naimon noted as key contacts for a variety of matters. Former managing partner Benjames Klubes departed the firm in May 2022 to become principal deputy general counsel at the US Department of Housing and Urban Development. All named lawyers are based in Washington DC unless otherwise stated.
Practice head(s):
Clinton Rockwell; Christopher Witeck
Other key lawyers:
Joseph Kolar; John Kromer, Jeffrey Naimon
Testimonials
‘The Buckley team are experts in mortgage regulatory issues, with deep experience handling complex issues and representing lenders and servicers in supervisory and enforcement actions and litigation.’
‘Their decades of experience handling complex mortgage regulatory issues and representing lenders and servicers makes them unique and why our company relies on them as a critical business partner.’
Key clients
Cross River Bank
Work highlights
- Advised Cross River Bank in a variety of partnerships with highest-profile fintech firms offering online loans and payments.
Paul Hastings LLP
The investigations, regulation and litigation group at Paul Hastings LLP is particularly adept at handling compliance issues surrounding financial products, with further expertise in the mortgage, credit card, payments and student lending spaces. Additional areas of strength for the team includes advising fintech companies on consumer products, one of multiple capabilities catalyzed by the arrival of Laurel Loomis from O'Melveny & Myers LLP, Allyson Baker and Meredith Boylan from Venable LLP and Jonice Gray from Buckley LLP throughout 2022. Kwame Manley leads the team, which includes Aaron Mahler, a key contact for relationships with the CFPB and San Francisco-based Molly Swartz, primarily sought by fintech companies, internet marketplaces and consumer lenders. All named lawyers are based in Washington DC unless otherwise stated.
Practice head(s):
Kwame Manley
Other key lawyers:
Laurel Loomis; Allyson Baker; Meredith Boylan; Jonice Gray; Aaron Mahler; Molly Swartz
Testimonials
‘Very sharp, and responsive.‘
‘Brilliant banking lawyers.‘
Key clients
Trident Mortgage Company
HomeServices of America
Transworld Systems
Aspiration
Ramp
Silo
Ropes & Gray LLP
Ropes & Gray LLP’s diversified asset management practice is noted for its advising of sponsors of registered funds as well as private funds, with particular focus on the US Investment Advisers Act, the AIFMD and commodities and derivatives regulation and compliance. The leadership team is made of multiple key figures; Jason Brown and James Thomas work out of the Boston office; Melissa Bender is based in San Francisco; Brynn Rail, Mike Doherty, and Bryan Chegwidden are based in New York and; Joel Wattenbarger and Leigh Fraser divide their time between Boston and New York. The firm’s broker-dealer offering, considered a key area of work for the group, is co-led by Rail and management partner Eva Carman in New York.
Practice head(s):
Jason Brown; Melissa Bender; Joel Wattenbarger; Brynn Rail; Leigh Fraser; Mike Doherty; James Thomas; Bryan Chegwidden; Eva Carman
Key clients
Affiliated Managers Group
Thrivent ETF Trust
Thrivent Asset Management
Accolade Capital Management
Menai Financial Group
ProShares Funds
Runa Digital Assets
Blackstone
PIMCO
Carlyle
Siguler Guff
William Blair & Company
Golden X
Meta4 Capital
Stanford University
BondBloxx
Fundrise Advisors
Voya Funds
State Street Corporation
State Street Global Advisors
Putnam Funds
Work highlights
- Advised State Street on compliance with new rules adopted by the SEC and ongoing matters affecting their registered open-end mutual funds.
- Advised Carlyle on issues relating to Reg BI and Form CRS requirements, matters relating to marketing of private funds, and matters relating to SEC and FINRA compliance.
- Represented a leading multi-asset alternative investment firms and its various affiliated registered investment advisers on a variety of regulatory matters.
Schulte Roth & Zabel LLP
Schulte Roth & Zabel LLP offers a multidisciplinary group focused on emerging trends, covering regulatory issues affecting private funds and broker-dealers in relation to the creation and implementation of compliance programs and investigations carried out by FINRA and the SEC, respectively; the team places a further emphasis on issues surrounding digital wallet issuers, card associations, bill payment companies, currency exchangers and stablecoin issuers. The leadership team, which is based in New York, is comprised of Craig Warkol and Julian Rainero on the broker-dealer regulatory and enforcement front as well as banking regulatory expert Donald Mosher and investment management regulatory specialist Marc Elovitz.
Practice head(s):
Craig Warkol; Donald Mosher; Julian Rainero; Marc Elovitz
Key clients
AB CarVal Investors
Ant Group
Aventiv Technologies
Circle Internet Financial
CSG Forte Payment
Dash Financial
Engine No. 1
Fiserv
GCP Capital Partners
ICBC
Interactive Brokers
Pantera Capital
Point72 Partners
PrimePay
Priority Technology Holdings
Remitly
Tiger Global Management
Visa
Wave Financial
Western Union
Wex Payments
WorldRemit Corp.
Work highlights
- Advising Visa in relation to its successful acquisition of Currencycloud, a global platform that enables banks and FinTechs to provide innovative foreign exchange solutions for cross-border payments.
- Advised more than 100 investment fund clients to become compliant with the new SEC Marketing Rule.
- Advising ICBC on multiple matters, including on a range of U.S. broker-dealer compliance work.
Simpson Thacher & Bartlett LLP
Simpson Thacher & Bartlett LLP‘s focus in the financial services regulation field lies in transactions in the space, an offering which is interlinked with the firm’s compliance experience, ensuring banks, insurance companies, securities and mortgage brokers, broker-dealers and credit card issuers are adept at addressing various requirements, including those enacted under the Dodd-Frank Act and Basel III. Lee Meyerson heads the practice from New York, specializing in M&A and capital markets transactions for financial institutions, while Elizabeth Cooper, another key figure from the firm’s executive committee, is recognized for her diverse M&A and corporate transactional knowledge, advising on joint ventures, acquisitions and recapitalizations. Ravi Purushotham is another active member, having been involved in the firm’s advice to TD Bank Group on its acquisition of First Horizon for $13.4bn.
Practice head(s):
Lee Meyerson
Other key lawyers:
Elizabeth Cooper; Ravi Purushotham
Testimonials
‘Simpson Thacher has tremendous strength and depth in financial services and banking, including pure regulatory, enforcement matters, M&A and general representation.’
‘Very experienced experts and professionals, who are efficient and effective. Also, a pleasure to work with.’
‘They are not only experienced and show high expertise but are very collaborative and personal. A pleasure to work with.’
‘Highly responsive and practical in advice.’
Key clients
Angelo, Gordon & Co.
Apollo
Ascensus
AXIS Capital Holdings
Blackstone
CNO Financial Group
Computershare Limited
Corsair Capital
Fifth Third Bancorp
First Hawaiian Bank
Goldman Sachs & Co.
Institutional Shareholder Services
JPMorgan Chase & Co.
KeyCorp
Kohlberg Kravis Roberts & Co.
Massachusetts Mutual Life Insurance Company
Mitsubishi UFJ Trust and Banking Corporation
Mizuho Financial Group
Morgan Stanley
Oak Hill Capital
Oaktree Capital Management
Riverstone Holdings
Sumitomo Life Insurance Company
Synovus Financial
TD Bank Group
The Carlyle Group
The Charles Schwab Corporation
The Travelers Companies
Work highlights
- Advised TD Bank Group in connection with its proposed acquisition of First Horizon Corporation in an all-cash transaction valued at $13.4bn.
Skadden, Arps, Slate, Meagher & Flom LLP
Skadden, Arps, Slate, Meagher & Flom LLP advises a diverse range of banks, fintech firms, asset managers, insurance companies, payments companies, investment funds and venture capital firms on comprehensive regulatory issues relating to mergers, joint ventures, capital raising, public offerings, and restructurings. Acting on behalf of clients before federal and state regulators is common practice for the firm, with the team regularly standing before the SEC, FDIC and CFTC, an area of expertise supplemented by the group’s broad transactional experience. M&A specialist Jeffrey Brill is an active member in New York, with Brian Christiansen noted as a key contact in Washington DC.
Other key lawyers:
Jeffrey Brill; Brian Christiansen
Work highlights
Venable LLP
Venable LLP‘s experience in financial services regulation extends to compliance, enforcement and litigation, with a client portfolio comprised of innovative startups and long-standing brands in the space. Ellen Berge and Andrew Bigart are key names in the team, co-heading the firm’s payment processing and merchant services practice as well as the broader financial services group- Berge is a key contact for banks, marketplaces and card issuers seeking regulatory advice, paired with her active role representing payment companies in government investigations; Bigart specializes in anti-money laundering, payment network compliance and consumer protection. Jonathan Pompan complements this expertise, acting for a broad spectrum of clients, while senior associate Christopher Boone focuses on payment processing, blockchain and telecoms matters. All named lawyers are based in Washington DC.
Practice head(s):
Ellen Berge; Andrew Bigart
Other key lawyers:
Jonathan Pompan; Christopher Boone
Key clients
Applied Data Finance
Blend Labs
Clarion Capital Partners
Carta
Cavalry Portfolio Services
Electronic Transactions Association
First American Payments Systems
Greater Chautauqua Federal Credit Union
Boulevard Federal Credit Union
Greater Niagara Federal Credit Union
Midland Credit Management
Pagaya Technologies
Verizon Communications
Work highlights
- Advised Cavalry on regulatory compliance related to debt collection and debt buying.
- Advised Midland Credit Management on compliance, supervisory, and regulatory matters.
White & Case LLP
White & Case LLP is noted for providing comprehensive advice to leading financial institutions, with ‘incredibly deep knowledge of tech, regulations and market practice‘. Clients of the firm also benefit from a wide geographical spread, as the team draws from cross-border expertise to advise the likes of JP Morgan, Banco Itau and the Ministry of Finance of the Republic of El Salvador on transactional and contentious issues encompassing bank regulatory, fintech, cryptocurrency, payment system and anti-money laundering matters. Douglas Landy spearheads the offering from New York, showcasing knowledge of regulatory issues relating to M&A transactions; associate Chante Eliaszadeh joined the Los Angeles office from Dechert LLP in July 2022, fortifying the team’s cryptocurrency experience.
Practice head(s):
Douglas Landy
Other key lawyers:
Chante Eliaszadeh; Pratin Vallabhaneni; Edward So
Testimonials
‘Incredibly deep knowledge of tech, regulations and market practice.’
‘Pratin Vallabhaneni’s combination as a regulator and technical understanding of the fintech sector is unparalleled. He is able to provide solutions to deep technical and regulatory issues efficiently.’
‘Personal service by the partner and cost-effective, scalable documentation solutions make this firm stand out.’
‘Edward So is a fantastic partner. Knowledgeable in a wide range of subjects and has great market color. Solutions oriented advice.’
Key clients
JP Morgan
USDF Consortium
Ministry of Finance of the Republic of El Salvador
Figure Technology
New York Community Bank
Banco Itau
The Provident Bank
Bank of Montreal
Centre
Bank of America
Canadian Imperial Bank of Commerce
Block
First Foundation Bank
Nubank
Credit Agricole
Signature Bank
Meta
Celsius Network