Shearman & Sterling today launched “the FinTech Foundry,” a program dedicated to supporting the FinTech-related activities of their clients and the wider global FinTech ecosystem that consists of financial institutions, FinTech start-ups, accelerators and incubators, venture capital and private equity investors, and policymakers. Blockchain, crypto assets, big data and artificial intelligence are just a few of the FinTech activities Shearman & Sterling advises on.
Donna Parisi, Global Head of Shearman & Sterling’s Financial Services and FinTech group, said: “The core proposition of the FinTech Foundry is our ability to provide opportunities to connect, share insights and provide legal advice to the innovators shaping the future of financial services. With this new innovation come challenges, and having the right legal support from the onset to guide clients’ business decisions on what’s driving the industry is key.”
Closely related to the swiftly changing business environment is a rapidly evolving regulatory landscape. As financial technology companies continue to grow in size and scale, federal and state regulators are grappling with how best to foster innovation while protecting consumers and avoiding systemic risk. As a result, FinTechs are facing an inflection point regarding launching new products and technology amid a complex and ever-changing regulatory environment. Legal guidance and mentorship for traditional financial services firms as well as emerging FinTech companies is critical.
"Launching a global program that brings together all our existing expertise in FinTech is a natural progression for us. With our global footprint in key FinTech markets including London, the Bay Area, Austin, Singapore and Washington, DC, clients can rely on us to be in front of the legal and business issues impacting the industry,” said Senior Partner at Shearman & Sterling David Beveridge. David further adds, "The launch of the FinTech Foundry program aligns with our strategic growth plan and more importantly the direction in which the industry is heading. This is exemplified by the recent addition of our Austin, Texas office, where our attorneys have strong emerging companies, technology and FinTech focus, and bring a wealth of expertise and experience to FinTech start-ups."
The Fintech Foundry will consist of three pillars:
Shearman & Sterling has extensive experience advising the world’s largest financial institutions. As the financial services sector faces new opportunities and challenges given an ever-changing regulatory landscape and entry of new non-FI entrants, the firm is committed to being at the forefront of industry developments by supporting the burgeoning FinTech community and clients in the financial services sector.
For additional information, please visit the FinTech page of our website or contact us.
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