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Wilson Sonsini Adds Jess Cheng, Former Senior Federal Reserve Payments Counsel, to Fintech and Financial Services Group

With the Addition of Cheng and Many others with Fintech Abilities, Wilson Sonsini Formalizes its “Fintech and Financial Expert services” Group

PALO ALTO, Calif., December 06, 2022–(Small business WIRE)–Wilson Sonsini Goodrich & Rosati, the leading provider of lawful products and services to technology, daily life sciences, and advancement enterprises around the globe, declared these days that Jess Cheng is signing up for the agency as a company associate in New York, exactly where she will be a member of the Fintech and Money Products and services group. The go demonstrates Wilson Sonsini’s ongoing initiatives to insert to its strengths as a prime legal adviser to the fintech and evolving economic products and services group, as perfectly as its potential to offer a holistic technique when advising purchasers engaged in each conventional and new payment solutions.

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Jess Cheng, Associate, Wilson Sonsini (Photo: Company Wire)

Cheng has a lot more than a 10 years of knowledge handling—and shaping—the regulatory aspects of a wide vary of payment products and services and systems, spanning regular devices and chopping-edge payments items. She joins Wilson Sonsini from the Board of Governors of the Federal Reserve Method in Washington, D.C., where by she served as senior counsel in the Monetary Affairs and Payment Devices Portion. While there, Cheng was at the forefront of payments rulemaking, which include with respect to debit card interchange service fees and fast payments, as well as oversight of the FedNow Company.

Cheng has in depth skills advising on the evolving fiscal regulatory perimeter, specially with regard to stablecoins and nonbank payment providers partnerships among banking institutions and fintech firms, including in relationship with payment infrastructures that leverage distributed ledger and other rising technologies and the authorized, regulatory, and public policy elements of central bank electronic currencies.

Formerly, as deputy common counsel at enterprise blockchain corporation Ripple, Cheng advised on a wide array of authorized and regulatory troubles that impact innovative payment items. Serving as a dependable advisor on a spectrum of business, operational, and product or service issues, she has crafted pragmatic, enterprise-minded lawful remedies to novel and intricate difficulties at the intersection of payments technology and monetary regulation.

“Jess’s mix of community and personal sector practical experience permits her to present a exceptional standpoint that will supply early- and late-phase clientele alike with useful insights relating to the payments ecosystem,” stated Doug Clark, controlling associate at Wilson Sonsini. “Her qualifications and standpoint will be specially useful to technologies companies moving into the payments house or individuals on the lookout to grow their vary of financial support offerings, as she can present a broad established of personalized alternatives for impressive purchasers and other folks shifting forward in the fintech sector.”

Cheng’s addition is the most current major retain the services of that underscores Wilson Sonsini’s attempts to formalize its Fintech and Financial Services practice. In June 2022, Neel Maitra joined the firm’s Washington, D.C., office. Maitra was a senior exclusive counsel in the SEC’s Division of Trading and Markets, in which he concentrated on fintech and cryptocurrency challenges. In October 2020, Joshua Kaplan joined Wilson Sonsini’s London place of work. Kaplan was previously at Checkout.com—a top world payment option provider—where he had served as COO and common counsel considering the fact that 2017.

Wilson Sonsini delivers comprehensive and cutting-edge company, regulatory, mental property, and litigation authorized representation for progressive providers throughout the fintech and money services industries. Amongst the firm’s regions of working experience is advising clients with progressive economic platforms and merchandise on compliance issues. Decide on customers consist of Block, AngelList, Roblox, Crypto.com, CrowdStreet, Bitwise, Bakkt, Rally Rd, and Checkout.com.

“Wilson Sonsini has been symbolizing fintech consumers considering that the business first surfaced, and our expertise has helped us attract proficient attorneys like Jess and some others, and led us to formalize our Fintech and Economic Companies group,” said Amy Caiazza, a partner at Wilson Sonsini who sales opportunities the group. “Jess’s target-oriented technique and her general public and personal sector working experience is what following-technology fintech shoppers need—a holistic and creative tactic to their one of a kind challenges and an means to recognize troubles right before they occur.”

“I selected Wilson Sonsini for the firm’s unparalleled name of doing work with legendary technology clients and collaborative method to helping innovators prosper in remarkably controlled industries,” claimed Cheng. “The payments sector is at the cusp of sizeable change, and I am thrilled to attract on my community sector experience to lover with founders, get started-ups, and traders at the slicing edge of fiscal solutions. My payments track record complements the firm’s best-notch group, improving our potential to provide innovative tactics to navigate the transforming regulatory landscape and aid clients do well on each and every element of the journey, from start off-up to community firm.”

Prior to doing work for the Federal Reserve Board—and next her in-house purpose at Ripple—Cheng was counsel at the Intercontinental Monetary Fund’s Legal Section, where she recommended on the strategic way of the fund’s fintech perform agenda and furnished complex help to member countries. She started her vocation as an affiliate at Wachtell, Lipton, Rosen & Katz, after which she served as counsel and officer at the Federal Reserve Lender of New York.

Cheng gained her J.D. from Columbia Law Faculty in 2009 and a B.A. in economics from Yale University in 2006.

About Wilson Sonsini Goodrich & Rosati

For far more than 60 several years, Wilson Sonsini’s companies and lawful disciplines have targeted on serving the principal troubles faced by the administration and boards of directors of business enterprise enterprises. The firm is nationally regarded as a leading company to growing and founded purchasers seeking authorized counsel to full complex corporate and technological know-how transactions take care of governance and organization-scale issues guide with intellectual house progress, safety, and IP-driven transactions represent them in contested disputes and/or suggest them on antitrust or other regulatory issues. With deep roots in Silicon Valley, Wilson Sonsini has 19 offices in know-how and company hubs all over the world. For more data, please visit www.wsgr.com.

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