Financial Innovation & Regulation

Digital transformation is revolutionizing the global financial services industry at an unprecedented pace. The convergence of AI, tokenization, digital assets, blockchain, embedded finance, instant payments, banking-as-a services, decentralized finance and other pioneering technologies is fueling the creation of innovative services, products and solutions. This dynamic landscape, characterized by new market entrants and evolving business models, is reshaping every corner of the financial sector. As a result, regulators worldwide are grappling with the challenge of developing and enforcing a complex patchwork of regulations to keep pace with these rapid changes.

Steptoe’s Financial Innovation and Regulation (FIR) team is purposefully designed to be counsel for this changing market. We’ve assembled a team of top-tier former regulators, in-house counsel, industry trade association leaders, and market-leading commercial and regulatory lawyers offering clients authoritative insight on the regulatory, business, technology and policy trends shaping the financial services markets today.  

Our Financial Innovation and Regulation lawyers understand the intricacies of traditional and innovative financial products, and the significant regulatory, compliance, organizational and commercial challenges our clients face. We offer end-to-end advice to clients on their go-to-market programs, products and services, ensuring compliance with the US and global regulatory frameworks of today—and anticipating those of the future.

Product Development and Commercial Counsel: We work with clients to structure and launch innovative financial products and services. We assist on commercial agreements, advise on structured products and provide transactional support.

Regulatory and Compliance Guidance: We guide clients on the applicability of existing regulations to novel financial technologies and business models, providing compliance advice, program design, and monitoring and audit support.

Licensing and Chartering: We assist clients in obtaining the necessary licenses, registrations and charters to operate in the financial services industry.

Regulatory Policy, Engagement and Advocacy: We advocate on behalf of clients before regulatory agencies, to ensure that regulatory regimes evolve to support the innovative products our clients are developing, and assist clients in engaging in the legislative process, to shape the future of financial regulation.

Enforcement and Litigation: We work seamlessly with Steptoe’s litigation, investigations and enforcement defense teams, to identify enforcement trends, help clients adapt and innovate to those trends, and to provide assistance with contentious regulatory issues and disputes when they arise.

Steptoe's Financial Innovation and Regulation capabilities are organized into the following areas of focus:

• Banking
• Payments
• Consumer Financial Services
• Financial Products and Markets
• Digital Assets and Decentralized Products