DLA Piper’s Financial Services Regulation, Enforcement and Litigation group brings a Chambers-recognized multi-disciplinary global team together to meet the legal and compliance needs of our clients, which include leading banks, lenders, fintechs, digital payment companies, consumer reporting agencies, loan servicers and other financial services providers. We provide advice on everything from regulatory compliance questions, risk assessments, examinations and bank chartering strategies, to digitization of financial products and services, including digital payments. We also regularly support and defend clients in bet-the-company enforcement actions and class action litigation.
Our firm’s integrated and collaborative international practice brings together financial services regulatory and other lawyers across jurisdictions to obtain regulatory consents, provide comparative assessments of regulations across jurisdictions and resolve regulatory problems. We regularly advise internationally active clients on a wide range of cross-border issues, including the implications of taking products into new countries and regions, the regulatory implications of important acquisitions and transactions, and the comparative benefits of selecting particular jurisdictions for carrying on business.
Our attorneys have decades of experience providing day-to-day advice to financial services clients – both national and international – that offer financial products and services (banks, non-banks and fintechs) covering the entire range of regulatory, risk management and compliance statutes and regulations around the world. We are highly experienced in major US legislation such as the Dodd-Frank Act, EU cross-border financial services legislation and approaches driven by global financial services bodies, such as the Financial Stability Board, the Bank of International Settlements, IOSCO and the IAIS. We also routinely advise on:
- Bank chartering and conversions
- Investor control issues
- Affiliated and insider transactions
- Permissible bank and holding company activities
- Anti-money laundering compliance
- Restructuring of boards and senior executive responsibilities
- Regulatory examinations, including criticisms and Matters Requiring Attention
- Regulatory investigations and enforcement actions
- Regulatory processes for the transfer of assets in banks, including affiliated transfers
- Matters impacting insurers, non-bank lenders and other financial institutions and
- The recovery and resolution of financial institutions.
In the digital space, we are a leading provider of legal and compliance advice related to product development and administration. We help our financial services and fintech clients and their partner technology platforms address product-specific regulatory compliance requirements related to the use of electronic signatures and electronic records under ESIGN, the UETA and relevant UCC Articles – supporting their consumer and commercial financial products and services, identity management programs and custody of electronic business records, including eNotes and electronic chattel paper -- both online and in a mobile environment.
We also advise on all aspects of other types of digital asset and payment matters: digital tokens, virtual or cryptocurrencies, person-to-person payments, mobile wallets, money transmission (such as fiat-to-fiat, crypto-to-fiat and crypto-to-crypto), remittance transfer, debit and prepaid cards, electronic fund transfers, wire transfers, remote deposit check capture and ACH transactions.
Our regulatory, enforcement and litigation lawyers represent banking and financial services firms in regulatory, investigation and enforcement matters involving the Consumer Financial Protection Bureau (CFPB); the Federal Trade Commission (FTC); federal bank regulatory agencies (FRB, OCC, FDIC, NCUA); US Department of Justice (DOJ); the Securities and Exchange Commission (SEC); US state banking regulators, attorneys general and state financial authorities; the European Banking Authority (EBA); European Securities and Markets Authority (ESMA); the European Insurance and Occupational Pensions Authority (EIOPA); key national regulators across Europe, such as the UK's Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA); Germany's Federal Financial Supervisory Authority (BaFin) and France's Commission Bancaire; and many more around the world. We provide counsel and representation throughout the entire life cycle of enforcement matters, from receipt of a civil investigative demand or subpoena to public or non-public resolution of the matter.
Finally, our civil litigation team is adept at handling all types of lawsuits against financial services firms – including class actions, individual lawsuits and government enforcement litigation – with a proven track record of successful results.