Cravath’s London Office Moves to 100 Cheapside
Financial Institutions Group (FIG)
Cravath represents leading financial institutions in connection with domestic and cross‑border transactional, regulatory, supervisory, enforcement and governance matters. Our lawyers also advise fintech companies and non‑bank firms in evaluating charter options, bank partnerships and acquisitions of banks. Cravath is uniquely positioned among leading U.S. firms by our deep bench of regulatory attorneys and legal knowledge at the intersection of law and policy. The strength of this practice is grounded in our attorneys’ collective regulatory and legislative expertise, comprehensive knowledge of the financial services and fintech sectors and solutions‑oriented practical judgment.
Our integrated Financial Institutions Group (FIG) Practice draws upon the experience of our seasoned attorneys, most of whom were formerly with government organizations, regulatory agencies and legislative bodies, including the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the U.S. Securities and Exchange Commission, the U.S. Department of the Treasury, the U.S. Department of Justice, the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and various U.S. Attorneys’ Offices. These varied regulatory, enforcement and policymaking experiences have allowed our attorneys to understand not only legal issues at hand but why the law was written the way it was written and what policy objectives the law intended to accomplish. We are able to leverage this knowledge as we negotiate complex regulatory and enforcement matters with governmental agencies on behalf of clients.
Our clients, which include many of the world’s leading financial institutions, fintechs and other financial services providers, rely on our lawyers’ strategic advice to navigate the changing regulatory environment and the increasingly complex challenges it presents. Cravath’s position at the forefront of regulatory developments enables us to provide invaluable insight when advising our financial services clients across a broad array of issues, including:
- Transactions with or involving regulated institutions
- Regulatory strategies for fintech companies
- The full range of regulatory matters under federal and state bank regulatory frameworks
- Cryptoasset-related matters
- Volcker Rule matters
- Enhanced prudential standards and other Dodd-Frank Act issues
- Basel III capital and liquidity requirements
- Investigations, examination and enforcement matters involving federal and state banking agencies
Cravath is consistently recognized in the areas of financial services litigation, financial services regulatory, fintech, investigations and securities regulation by numerous third‑party publications. Cravath has been named Fintech Law Firm of the Year by The Deal and a Fintech Practice Group of the Year by Law360. The Firm is also a four-time winner of Law360’s Banking Practice Group of the Year award.
Our integrated Financial Institutions Group (FIG) Practice draws upon the experience of our seasoned attorneys, most of whom were formerly with government organizations, regulatory agencies and legislative bodies, including the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the U.S. Securities and Exchange Commission, the U.S. Department of the Treasury, the U.S. Department of Justice, the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and various U.S. Attorneys’ Offices. These varied regulatory, enforcement and policymaking experiences have allowed our attorneys to understand not only legal issues at hand but why the law was written the way it was written and what policy objectives the law intended to accomplish. We are able to leverage this knowledge as we negotiate complex regulatory and enforcement matters with governmental agencies on behalf of clients.
Our clients, which include many of the world’s leading financial institutions, fintechs and other financial services providers, rely on our lawyers’ strategic advice to navigate the changing regulatory environment and the increasingly complex challenges it presents. Cravath’s position at the forefront of regulatory developments enables us to provide invaluable insight when advising our financial services clients across a broad array of issues, including:
- Transactions with or involving regulated institutions
- Regulatory strategies for fintech companies
- The full range of regulatory matters under federal and state bank regulatory frameworks
- Cryptoasset-related matters
- Volcker Rule matters
- Enhanced prudential standards and other Dodd-Frank Act issues
- Basel III capital and liquidity requirements
- Investigations, examination and enforcement matters involving federal and state banking agencies
Cravath is consistently recognized in the areas of financial services litigation, financial services regulatory, fintech, investigations and securities regulation by numerous third‑party publications. Cravath has been named Fintech Law Firm of the Year by The Deal and a Fintech Practice Group of the Year by Law360. The Firm is also a four-time winner of Law360’s Banking Practice Group of the Year award.
Deals & Cases
July 01, 2025
Circle’s Regulatory Clarity Amidst IPO Process
Cravath represented Circle Internet Financial, LLC on SEC regulatory matters concerning the non‑applicability of securities laws to payment stablecoins, concurrent with Circle Internet Group Inc.’s initial public offering.
Deals & Cases
February 10, 2025
FactSet’s Acquisition of LiquidityBook
On February 10, 2025, FactSet, a global financial digital platform and enterprise solutions provider, announced the acquisition of LiquidityBook, a leading provider of cloud‑native buy- and sell‑side trading solutions, for a gross purchase price of $246.5 million in cash. Cravath is representing FactSet in connection with the transaction.
Deals & Cases
January 22, 2025
CardWorks’s Acquisition of Ally’s Credit Card Business
On January 22, 2025, CardWorks, Inc. (“CardWorks”), a leader in credit and payments, and Ally Financial Inc. (“Ally”), a financial services company with the nation’s largest all‑digital bank and an industry‑leading auto financing business, announced that they have entered into a definitive agreement for CardWorks, and its wholly‑owned bank subsidiary, Merrick Bank, to acquire Ally’s credit card business, including a portfolio of $2.3 billion in credit card receivables with 1.3 million active cardholders as of December 31, 2024. Cravath is representing CardWorks in connection with the transaction.
Deals & Cases
November 19, 2024
Robinhood’s Acquisition of TradePMR
On November 19, 2024, Robinhood Markets, Inc. (“Robinhood”) announced that it has entered into an agreement to acquire TradePMR, a custodial and portfolio management platform for Registered Investment Advisors. Final deal consideration is expected to be approximately $300 million, subject to customary purchase price adjustments, consisting of a mix of cash and stock. Cravath is representing Robinhood in connection with the transaction.
Deals & Cases
October 25, 2024
L&G’s Investment in Taurus Investment Holdings
On October 25, 2024, Legal & General (“L&G”), one of the U.K.’s leading financial services groups and a major global investor, announced its strategic investment in Taurus Investment Holdings, LLC (“Taurus”), a Boston‑based, global real estate private equity firm, alongside an initial commitment of up to $200 million in seed capital to multifamily real estate. Cravath is representing L&G in connection with the transaction.
Publications
August 11, 2025
Cravath Publishes Finance & Capital Markets Quarterly Review for Q2 2025
On August 11, 2025, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides insight into practical points, key takeaways and relevant developments related to the bond, equity and loan markets and restructuring activity during the second quarter of 2025. Highlights from this edition include:
Publications
August 11, 2025
Cravath Venture Capital & Growth Equity Insights: 2025 Mid‑Year Market Update
On August 11, 2025, Cravath published the latest edition of its Venture Capital & Growth Equity Insights newsletter, which has been redesigned to provide greater insight into global venture capital and related activity during the first half of 2025 and outlook for the rest of the year. Key takeaways from this edition include:
Activities
June 30, 2025
Cravath Partners Named to Lawdragon’s 2025 List of Leading Global Bankruptcy and Restructuring Lawyers
On June 27, 2025, Cravath partners Michael A. Paskin, George E. Zobitz, Paul H. Zumbro, Jelena McWilliams, Lauren A. Moskowitz, Omid H. Nasab and Michael J. Zaken were named to Lawdragon’s 2025 list of “500 Leading Global Bankruptcy and Restructuring Lawyers” in recognition of their work advising clients during “crises that imperil their existence.” The list honors “lawyers who tune out the noise and find the path forward through tough negotiation, litigation, or complex financial arrangements,” and celebrates their ability to “help organizations move forward.”
Activities
June 11, 2025
Elad Roisman Testifies Before U.S. House Financial Services Committee on the Digital Asset Market Clarity Act of 2025
On June 4, 2025, Cravath partner and former Commissioner and Acting Chairman of the U.S. Securities and Exchange Commission Elad Roisman testified before the United States House Financial Services Committee. The hearing entitled “American Innovation and the Future of Digital Assets: From Blueprint to a Functional Framework” examined the Digital Asset Market Clarity Act of 2025, which sets forth a proposed digital asset market structure framework.
Activities
May 29, 2025
Jelena McWilliams Speaks at This Week in Fintech’s Stablecon 2025
On May 29, 2025, Cravath partner Jelena McWilliams participated in This Week in Fintech’s Stablecon 2025, which was held in New York. The conference hosted founders, c‑suite executives, regulatory authorities, venture capitalists and crypto innovators to discuss critical themes in the rapidly evolving stablecoin ecosystem, including regulatory frameworks, technological advancements, institutional adoption and the role of stablecoins in global commerce. Jelena spoke on a panel entitled “The Shifting Regulatory Sands of Stablecoins,” which reviewed the regulatory treatment of stablecoins, including the interplay of federal and state regulation, the effect of stablecoin legislation and regulation on the structure of the market and what to watch during the implementation of stablecoin regulation.
Deals & Cases
July 01, 2025
Circle’s Regulatory Clarity Amidst IPO Process
Cravath represented Circle Internet Financial, LLC on SEC regulatory matters concerning the non‑applicability of securities laws to payment stablecoins, concurrent with Circle Internet Group Inc.’s initial public offering.
Deals & Cases
February 10, 2025
FactSet’s Acquisition of LiquidityBook
On February 10, 2025, FactSet, a global financial digital platform and enterprise solutions provider, announced the acquisition of LiquidityBook, a leading provider of cloud‑native buy- and sell‑side trading solutions, for a gross purchase price of $246.5 million in cash. Cravath is representing FactSet in connection with the transaction.
Deals & Cases
January 22, 2025
CardWorks’s Acquisition of Ally’s Credit Card Business
On January 22, 2025, CardWorks, Inc. (“CardWorks”), a leader in credit and payments, and Ally Financial Inc. (“Ally”), a financial services company with the nation’s largest all‑digital bank and an industry‑leading auto financing business, announced that they have entered into a definitive agreement for CardWorks, and its wholly‑owned bank subsidiary, Merrick Bank, to acquire Ally’s credit card business, including a portfolio of $2.3 billion in credit card receivables with 1.3 million active cardholders as of December 31, 2024. Cravath is representing CardWorks in connection with the transaction.
Deals & Cases
November 19, 2024
Robinhood’s Acquisition of TradePMR
On November 19, 2024, Robinhood Markets, Inc. (“Robinhood”) announced that it has entered into an agreement to acquire TradePMR, a custodial and portfolio management platform for Registered Investment Advisors. Final deal consideration is expected to be approximately $300 million, subject to customary purchase price adjustments, consisting of a mix of cash and stock. Cravath is representing Robinhood in connection with the transaction.
Deals & Cases
October 25, 2024
L&G’s Investment in Taurus Investment Holdings
On October 25, 2024, Legal & General (“L&G”), one of the U.K.’s leading financial services groups and a major global investor, announced its strategic investment in Taurus Investment Holdings, LLC (“Taurus”), a Boston‑based, global real estate private equity firm, alongside an initial commitment of up to $200 million in seed capital to multifamily real estate. Cravath is representing L&G in connection with the transaction.
Publications
August 11, 2025
Cravath Publishes Finance & Capital Markets Quarterly Review for Q2 2025
On August 11, 2025, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides insight into practical points, key takeaways and relevant developments related to the bond, equity and loan markets and restructuring activity during the second quarter of 2025. Highlights from this edition include:
Publications
August 11, 2025
Cravath Venture Capital & Growth Equity Insights: 2025 Mid‑Year Market Update
On August 11, 2025, Cravath published the latest edition of its Venture Capital & Growth Equity Insights newsletter, which has been redesigned to provide greater insight into global venture capital and related activity during the first half of 2025 and outlook for the rest of the year. Key takeaways from this edition include:
Activities
June 30, 2025
Cravath Partners Named to Lawdragon’s 2025 List of Leading Global Bankruptcy and Restructuring Lawyers
On June 27, 2025, Cravath partners Michael A. Paskin, George E. Zobitz, Paul H. Zumbro, Jelena McWilliams, Lauren A. Moskowitz, Omid H. Nasab and Michael J. Zaken were named to Lawdragon’s 2025 list of “500 Leading Global Bankruptcy and Restructuring Lawyers” in recognition of their work advising clients during “crises that imperil their existence.” The list honors “lawyers who tune out the noise and find the path forward through tough negotiation, litigation, or complex financial arrangements,” and celebrates their ability to “help organizations move forward.”
Activities
June 11, 2025
Elad Roisman Testifies Before U.S. House Financial Services Committee on the Digital Asset Market Clarity Act of 2025
On June 4, 2025, Cravath partner and former Commissioner and Acting Chairman of the U.S. Securities and Exchange Commission Elad Roisman testified before the United States House Financial Services Committee. The hearing entitled “American Innovation and the Future of Digital Assets: From Blueprint to a Functional Framework” examined the Digital Asset Market Clarity Act of 2025, which sets forth a proposed digital asset market structure framework.
Activities
May 29, 2025
Jelena McWilliams Speaks at This Week in Fintech’s Stablecon 2025
On May 29, 2025, Cravath partner Jelena McWilliams participated in This Week in Fintech’s Stablecon 2025, which was held in New York. The conference hosted founders, c‑suite executives, regulatory authorities, venture capitalists and crypto innovators to discuss critical themes in the rapidly evolving stablecoin ecosystem, including regulatory frameworks, technological advancements, institutional adoption and the role of stablecoins in global commerce. Jelena spoke on a panel entitled “The Shifting Regulatory Sands of Stablecoins,” which reviewed the regulatory treatment of stablecoins, including the interplay of federal and state regulation, the effect of stablecoin legislation and regulation on the structure of the market and what to watch during the implementation of stablecoin regulation.
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