BarbriSFCourseDetails
  • videocam On-Demand
  • signal_cellular_alt Intermediate
  • card_travel Banking and Finance
  • schedule 90 minutes

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

$347.00

This course is $0 with these passes:

BarbriPdBannerMessage

Description

DLT is widely considered to be a disruptive force in the banking and financial services industries. Through a decentralized, peer-to-peer networked database, transactions are verified, monitored, and enforced without a third-party intermediary, reducing costs and providing real-time information to network participants.

The best known use of blockchain is bitcoin, but banks and fintech companies are using DLT platforms for other purposes, including account records, trading and financial transactions, KYC protocols, and loan and payment processing.

DLT is inherently more secure and less susceptible to fraud than centralized platforms, but there are challenges to implementing DLT. Counsel will need an understanding of the technology as well as the legal ramifications of blockchain, including concerns with privacy, integration into existing systems, regulatory uncertainty, and scalability.

Listen as our authoritative panel discusses the potential applications of blockchain technology and its advantages over centralized platforms concerning authentication, data security, and cost-efficiency. The panel will also address the legal and logistical issues to consider in implementing DLT.

Presented By

Michael C. Egan
Partner
Cooley LLP

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.

Rebecca J. Simmons
Partner
Sullivan & Cromwell

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.

Credit Information
  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.


  • Live Online


    On Demand

Date + Time

  • event

    Wednesday, May 24, 2023

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

  1. DLT/blockchain/smart contracts explained
  2. Regulatory framework
    1. Federal
    2. State
    3. International
  3. Applications in banking and fintech
    1. Recordkeeping
    2. KYC (know your customer)
    3. Trading platforms
    4. Raising capital
    5. Bitcoin and other virtual currencies
    6. Payments/money transmission businesses
    7. Other
  4. Challenges to implementation

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?