BayPay Atlanta - Feb 2019

MSB Compliance Inc. was honored to participate in the meeting of February 19, 2019 with Ben Robey, CAMS, BSA/AML Compliance Specialist participating on the panel of speakers. The event titled, "An Evolving Landscape: 2019 Fintech Legal and Regulatory Outlook", was hosted by Bryan Cave Leighton Paisner. Jay Postma, CAMS, CFCS, President of MSB Compliance was pleased to also attend.

The meeting was described as follows

Continued technological disruption within the financial services marketplace has been a driver of legal and regulatory change. Start 2019 on solid footing with an experienced panel discussion reflecting on regulatory responses to faster payments, open banking/APIs, blockchain applications and ICOs, and other innovations.

Participants will take away design implications and a better understanding of the consumer protection, safety and soundness, jurisdictional, other policy issues at play. Discussion will address, among other issues:

• Where is ICO and blockchain regulation currently and where is it headed?
• What is the Fed doing in the faster payments space, including through its November 2018 request for information relating to Real-Time Gross Settlement?
• How are Open Banking/API requirements in the UK playing out, and what should US providers expect as a result? How are GDPR and the California Consumer Privacy Act (CCPA) of 2018 impacting fintech design requirements and opportunities?
• What BSA/AML/OFAC compliance themes and innovations are emerging?
• How are states regulating cryptocurrencies through money transmitter licensing and exchange licensing?
• What is the latest on fintech regulatory sandboxes, such as Arizona’s new framework?
• What should fintech-banking partnerships look like from a compliance perspective? What factors are driving fintech bank account opening decisions and requirements?

The panel was moderated by Barry Hester, Counsel at Bryan Cave Leighton Paisner. In addition to our own Ben Robey, other panelists included:

• Richard Fraher, Vice President and Counsel to the Retail Payments Office at Federal Reserve Bank of Atlanta
• Kenneth Achenbach, Partner at Bryan Cave Leighton Paisner
• Ryan Germany, General Counsel and Assistant Commissioner of Securities & Charities at the Georgia Secretary of State