Financial
Eli Lilly v. Canada: Investor-State Arbitration Is an Open Gate for the “Patent Trolls”
In 2017, Canada won the dispute against the US-based pharmaceutical company Eli Lilly in investor-state arbitration (ISA). Foreign investors can sue sovereign governments in ISA in case of mistreatment, such as, for example, expropriation, a violation of fair and equitable treatment and discrimination. To succeed in its claim, the investor should show that the state […]
Towards an EU-wide strategy on Fintech
The re-posting of this article is part of a cross-posting collaboration with MediaLaws: Law and Policy of the Media in a Comparative Perspective. On March 23 the European Commission organized a conference devoted to institutions, regulators, professionals and scholars from all Europe on ‘#FinTechEU – Is EU regulation fit for new financial technologies?’. The conference […]
Fintech – Stake a Patent Claim?
OVERVIEW Similar to other traditional industries, a digital revolution for financial services is underway. Financial technology, or ‘‘FinTech,” is an accelerating technical sector gaining in popularity with both traditional financial institutions and new market entrants. Competitors are forming constructive partnerships to collaborate, efficiently develop, and deploy new FinTech products and services. Patents for core technology […]
German Regulator Finds Banks’ Data Rules “impede non-bank competitors”
The re-posting of this article is part of a cross-posting agreement with CyberLex. “Open Banking” is an emerging term in financial services / financial technology that refers, among other things, to the use of open application programming interfaces (“APIs“) enable third party developers to build applications and services around a financial institution. This requires a […]
Life After BitCoin: The Future of Banking May Be in the Blockchain
Introduction In the past 6 months, the US Patents & Trademark Office (USPTO) has published more than 200 patent applications filed by Bank of America, Goldman Sachs, JPMorgan Chase and other top-tier financial institutions for their own proprietary blockchain systems. Previously the territory of online anarchists and drug dealers, why are banks suddenly so interested […]
Canadian Banking Industry Releases Payments Security White Paper
The re-posting of this article is part of a cross-posting agreement with CyberLex. The Canadian banking industry recently released the Payments Security White Paper, prepared by the six largest Canadian banks (BMO, CIBC, National Bank, RBC, Scotiabank, TD). The white paper outlines the evolution of mobile payments in Canada, reviews risks associated with various types […]
U.S. Federal Financial Institutions Examination Council (FFIEC) Releases Cybersecurity Assessment Tool
The re-posting of this article is part of a cross-posting agreement with CyberLex. On June 30, 2015, the FFIEC released its cybersecurity assessment tool designed to assist U.S. financial institutions and regulatory examiners identify inherent cybersecurity risks and determine preparedness level of financial institutions. The cybersecurity assessment tool and other resources can be found here.