Chief Legal Architect and a co-founder of Caffrey.AI
Steven Lofchie is the Chief Legal Architect and a co-founder of Caffrey.AI, an AI platform built for law firms, banks, and the financial regulatory industry. He is also a partner at Norton Rose Fulbright, where he advises financial institutions on securities laws, the Commodity Exchange Act, and broker-dealer regulation. Ranked by Chambers USA every year since 2007, he is the author of “Lofchie’s Guide to Broker-Dealer Regulation,” long considered the leading treatise on the subject.
Recent Articles & Comments
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Given that the Post Office is and has massive pension obligations, a strong argument can be made that the Post Office does not have a profit-making motive. The link between delivering mail and running a bank is less obvious, beyond the fact that both services may take place out of a building.
In October of last year, FinCEN and OFAC ; e.g., violations of OFAC sanctions regulations. Since then there have been a number of significant ransomware incidents where the U.S. Government implicitly consented to firms paying ransomware. The new site seems to take a much softer attitude towards firms paying ransom, cautioning that the payment of ransom is no assurance that a firm's data will be restored.
In order to help small businesses raise capital, the SEC is going to have to reduce the burden of relevant regulation (and accept that some degree of investor risk may come along with that).