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Payments Processing Roundtable

Payments Processing Roundtable

Payments Processing Roundtable
The Future of Payment Processing and Money Service Businesses

Sponsored by
Maurice A. Deane School of Law at Hofstra University
Forum for Global Financial Regulation

Wednesday, March 14, 2018 | noon-5:45 p.m. | Hofstra Law School

This roundtable will discuss legal and regulatory issues concerning the evolving regulatory landscape of non-bank payments providers, fintech and money service businesses. Our panelists include practitioners and academics with diverse knowledge of this regulatory landscape.

Professor Ronald J. Colombo, Gary E. Kalbaugh, and Felix Shipkevich

Keynote Address
Ernest Patrikis
General Counsel, Industrial and Commercial Bank of China, U.S. Regional Committee

5.5 CLE credits are available in the areas of professional practice.

Payment Processing Conference:
This conference was made possible, in part, through the
Abraham J.Gross ’78 Conference and Lecture Fund at Hofstra Law.


General Registration


Hofstra Law Alumni


Hofstra Law Students and Faculty


Registration includes lunch, reception and parking.

Register Today


noon-1 p.m. Lunch
12:15 p.m. Welcoming Remarks
Professor Ronald J. Colombo, Professor of Law and Associate Dean for Distance Education
12:30-1 p.m. Keynote Address
1 p.m.

The Fractured Landscape of the Regulation and Oversight of Money Service Businesses

  • Confirmed Speakers
    • Tanweer AnsariSVP and CCO, The First National Bank of Long Island
    • Judith RinearsonPartner, K&L Gates LLP
    • Anthony RodriguezChief Risk Officer, Associated Foreign Exchange (AFEX)
  • What is a money service business and how do money service businesses differ from banks?
  • Do money service business benefit consumers and corporations as an alternative to banks in for example, foreign exchange, ordinary payments, or payments in the criminal justice system?
  • Forty-nine states currently have legislation impacting money service businesses with minimal consistency on core areas such as registration and capital/bond requirements.
  • Is federal regulation and preemption a solution, and is the Office of the Comptroller of the Currency’s FinTech Charter a possible solution?
  • Who needs to register today?
  • The status of foreign firms and registration exemptions.
  • Money services business and anti-money laundering regulations.
  • Common audit issues for money service businesses.
  • To become a bank or to not become a bank.
2:15 p.m.

The Dodd-Frank Act’s Impact on Money Service Businesses

  • Confirmed Speakers
    • Curtis A. DotyMayer Brown LLP
    • Summer FarrisDirector, Assistant General Counsel, ING Financial Holdings Corp.
    • Jeffrey H. KoppelePartner, Ashurst LLP
    • Al ManbeianManaging Partner, GPS Capital Markets, Inc.
  • Does swap reporting apply to transactions by money service businesses?
  • When do money service business activities require registration as a swap dealer, major swap participant, or retail foreign exchange dealer, and is there an exemption for de minimis activities?
  • The impact of ultimate guarantee on application of U.S. jurisdiction.
  • The application of variation margin requirements to uncleared swaps transactions.
  • Where there is legal uncertainty, “window” foreign exchange forwards and other transactions with mixed characteristics.
3:30 p.m.

Financial Innovation and Consumer Protection

  • Confirmed Speakers
    • Pawneet AbramowskiFinancial Crimes Risk Management Advisor, Verdigris
    • Norman SilberProfessor of Law, Maurice A. Deane School of Law
    • Steven L. Stites, Esq.Stites Law, LLP
  • Is new technology disrupting existing payment processing operations?
  • Regulators and financial innovation, CFTC’s “LabCFTC” effort.
  • Consumer protections and money service businesses.
  • Protections for corporate customers of money service businesses?
  • When is a technology company a money transmitter or processor? Do participants in an innovation such as virtual currency risk inadvertently crossing a line into being transmitters or processors with accordant regulatory obligations?
4:45 p.m.

Enforcement and Litigation Issues for Money Service Businesses

  • Confirmed Speakers
    • Amy Greenwood-FieldCounsel, Dentons US LLP
    • Gregory LisaPartner, Hogan Lovells
    • Stefan SavicPartner, Shipkevich PLLC
  • What enforcement issues are recurring and what enforcement issues are newly arising?
  • How do states differ in their enforcement efforts, and is there consistency?
  • Navigating an enforcement action.
  • Fostering consistent approaches across state lines.
  • Survey of important litigation.
5:45-7 p.m. Cocktail Reception

For More Information

If you have any questions about the conference, please contact Professor Ronald J. Colombo at Ronald.Colombo@hofstra.edu or 516-463-5931.

The Maurice A. Deane School of Law at Hofstra University is certified by the New York State Continuing Legal Education Board as an accredited provider of continuing legal education (CLE) in the state of New York.

New York CLE credits are available to satisfy the mandatory, nontransitional requirement for attorneys attending the program. This program qualifies for five (5.5) nontransitional CLE credits in areas of professional practice.

Lawyers admitted in jurisdictions other than New York should check with those jurisdictions to determine CLE requirements in their states. Scholarships are available. For more information regarding CLE, please contact Judith Black at 516-463-6889 or Judith.Black@hofstra.edu.