February 18, 2022
Top Lines The Securities and Exchange Commission charged BlockFi Lending LLC (BlockFi) with failing to register the offers and sales of its retail crypto lending product. In this first-of-its-kind action, the SEC also charged BlockFi with violating the registration provisions of the Investment Company Act of 1940. To settle the SEC’s charges, BlockFi agreed to pay a […]
February 11, 2022
Top Lines Federal Deposit Insurance Corporation (FDIC) Acting Chairman Martin J. Gruenberg announced on his first day the agency’s priorities for 2022: Strengthen Community Reinvestment Act (CRA); Address Financial Risks Posed by Climate Change; Review Bank Merger Process; Evaluate Crypto-Asset Risks; and Finalize Basel III Capital Rule. The Justice Department announced it seized more than $3.6 billion in bitcoin […]
February 4, 2022
Top Lines Federal Deposit Insurance Corporation (FDIC) Chair Jelena McWilliams delivered her final remarks as FDIC chair. She discussed, among other things, the importance of promoting innovation, competition, and inclusion. She called for supporting third-party partnerships for community banks, further exploring policymaking for cryptoassets and stablecoin innovation, and highlighting the FDIC’s accomplishment of driving capital investment to […]
January 28, 2022
Top Lines Rep. Patrick McHenry (R-NC-10), the top Republican on the House Financial Services Committee, said in a letter to House Financial Services Chair Maxine Waters (D-CA-43) that Congress needs to accelerate work on digital asset rules as the Securities and Exchange Commission (SEC) and other regulators take the lead on key policies. The SEC published on […]
January 21, 2022
Top Lines The Federal Reserve Board (the Fed) released a discussion paper that examines the pros and cons of a potential U.S. central bank digital currency, or CBDC. It invites comment from the public and is the first step in a discussion of whether and how a CBDC could improve the safe and effective domestic payments system. […]
January 14, 2022
Top Lines The Biden Administration is expected to nominate Duke Law School professor Sarah Bloom Raskin to serve as Vice Chair for Supervision of the Board of Governors. Read more about Raskin’s background here. Richard Clarida, Vice Chair of the Board of Governors of the Federal Reserve System (the Fed), announced that he will step […]
January 7, 2022
Top Lines Jelena McWilliams, Chair of the Federal Deposit Insurance Corporation (FDIC), announced on December 31 her intention to resign from the agency. While not cited as the reason for her departure, the announcement follows weeks of turbulence within the FDIC’s Board of Directors over a proposal to request information by the FDIC from the […]
PIERRE WHATLEY
Whatley is well-versed in many areas of financial services and economic policy—including consumer protection, financial stability, housing, capital markets, small business, manufacturing, tax, and trade—and brings strong knowledge of Federal Reserve, FDIC, CFPB, and SEC laws and regulations to FS Vector. Previously, Whatley has advised financial institutions and financial technology companies at Deloitte and Buckley […]
LINUS BILLINGS
Linus supports clients on a broad range of strategic and regulatory compliance initiatives. He works with both early stage and large Fintech companies building, implementing, and enhancing compliance functions. Linus has significant experience in designing and operationalizing compliance and risk management programs with a focus on commercial, personal and mortgage lending. This includes experience with […]
SIMRAN DOLLA
Simran is a principal at FS Vector with extensive experience in the cryptocurrency space. Simran spent over three years at Gemini, where she assisted in implementing and building out their AML/BSA Compliance program. Simran was also responsible for the upkeep of Gemini’s money transmission licenses, and additionally served as the Legal and Compliance Manager, where […]