We invite you to read our latest alerts relating to FinTech:
OCC Announces Preliminary Framework on FinTech and Responsible Innovation. On March 31, 2016, the OCC released a white paper on financial technology innovation, which lays out a preliminary framework for "responsible innovation." The White Paper articulates principles the OCC will follow when evaluating innovative products, services, and processes that require regulatory approval and identifying potential risks associated with them. The White Paper also represents the OCC's commitment to improving its own understanding of new technology and to improving collaboration with the Consumer Financial Protection Bureau and other banking regulators to develop a consistent supervisory approach in this space. Click here to read our client alert.
Demystifying Blockchain and Distributed Ledger Technology – Hype or Hero? Move over Bitcoin. It's the "blockchain", the innovation that powers Bitcoin, that's now grabbing all of the headlines. Supporters have been evangelising about the potential transformative power of distributed ledger technologies for some time. Indeed, many claim that distributed ledgers will be the most significant technology to disrupt business since the Internet. A whole host of major financial companies have publicised their interest and investment in this breakthrough technology, and governments and international bodies are increasingly discussing the potential implications of distributed ledgers on business, governments and the economy. Click here to read our client alert.
Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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