247.3S sec. 001 - Regulating Banking and FinTech (Summer 2025)
Instructor: Paul T Clark
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Units: 1
Grading Designation: Credit Only
Mode of Instruction: In-Person
Meeting:
TuWThF 09:00 AM - 12:10 PM
Location: Law 170
From May 27, 2025
To May 30, 2025
Class Number: Click to show Class Number
Enrollment info:
Enrolled: 0
Waitlisted: 0
Enroll Limit: 35
As of: 11/25 09:14 AM
This course will provide an overview of U.S. (state and federal) banking law; review trends and developments in the emerging FinTech market; explore case studies and examples of FinTech products and how they are or should be, regulated; and pose questions about the adequacy of the current regulatory scheme.
Paul Clark is Senior Counsel in Seward & Kissel LLP’s Financial Services Regulatory Group. Until 2023 Paul was Managing Partner of the firm’s Washington, DC, office.
For over 30 years Paul has advised banks, securities brokers, FinTech companies (including neo-banks, online wealth management firms and crypto asset firms) and trade associations on legislative and regulatory issues enabling or challenging new financial products.
In addition to representing financial firms on issues pending before Congress, Paul has represented individual firms, coalitions of firms and trade associations on regulations proposed by, and regulatory interpretations of, the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Securities Investor Protection Corporation and The Depository Trust Company.
Paul has substantial experience navigating the intersection of federal and state banking and securities laws in designing new financial products, including determining how the banking laws apply to a financial product and when a financial product is a “security” or an “investment company” requiring registration with the SEC. He has represented every major brokerage firm and bank in the U.S. on structuring deposit products, including advising Merrill Lynch on replacing money market funds with a bank deposit “sweep” program and IntraFi on the first reciprocal deposit program. Each have been replicated in the market by other financial firms using the template developed by Seward & Kissel.
Paul has recently worked with banks and their FinTech partners in structuring so called “neo-bank” relationships and, through such relationships, multi-bank deposit programs.
Paul is frequently interviewed by the financial press on regulatory issues and has been quoted in articles in Forbes Magazine, Barrons, The Wall Street Journal and the American Banker. He has authored opinion pieces on banking regulation and the regulation of crypto exchanges that have appeared in the American Banker.Paul and his Seward & Kissel colleagues are the co-authors of the Lexology Survey of U.S. Fintech Law.
Paul is a member of the Advisory Board of the Berkeley Center for Law and Business.
Exam Notes: (TH) Take-home examination
(Subject to change by faculty member only through the first two weeks of instruction)
Course Category: Business Law
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