Carl A Fornaris

Practice Areas

Carl Fornaris is co-chair of the Financial Services Practice and co-chair of the Digital Assets and Blockchain Technology Group. He represents his clients on formation and licensing, capital-raising transactions, acquisitions and divestitures, USA PATRIOT Act/BSA/AML compliance (including Corporate Transparency Act compliance), OFAC sanctions programs, cryptocurrency regulation, payments and FinTech, federal and state agency enforcement proceedings, Dodd-Frank Act compliance, and Small Business Administration PPP loans). Throughout his career, he has counseled clients in their dealings with the Federal Reserve, OCC, FDIC, FinCEN, SEC, FINRA, Florida Office of Financial Regulation, New York Department of Financial Services, and other state supervisory authorities.

Carl also represents lenders and credit parties in financing transactions, particularly credits to non-U.S. loan parties, asset-based credits, acquisition financing, and stand-by letters of credit.

Carl is also a member of the Bank Receivership Task Force, created in March of 2023.

Previously, Carl served as head of legal and compliance for the Latin America region of Barclays Bank PLC, with responsibility for managing legal and compliance matters throughout the region.

Career

With over 30 years of legal experience, Carl advises a broad range of financial services firms, including banks and their holding companies, money services businesses, investment advisers, securities broker dealers, gaming firms, FinTechs, cryptocurrency firms, and other institutions on all aspects of their business.

Professional Memberships

- Board of Directors, Florida International Bankers Association

- Board of Directors, South Florida Banking Institute

- Adjunct professor, Business Law Department, University of Miami Business School

Personal

- The Best Lawyers in America®, Banking and Finance Law; Corporate Law; Financial Services Regulation Law; Securities / Capital Markets Law; Securities Regulation; and FinTech Practice, 2008-2024

- "Lawyer of the Year," Financial Services Regulation Law, Miami, 2022

- "Lawyer of the Year," Securities Regulation, Miami, 2014, 2021, and 2023

- Chambers USA, Banking & Finance Regulatory – Florida; Banking & Finance: Transactional – Florida (2005-2023)

- Top Rated Lawyer, Super Lawyers – Florida, 2007 – 2015, 2021-2024

- Recognized in The Legal 500 Latin America International Firms for Banking & Finance and City-Focus Miami (2024)

- The Legal 500 US, "Media, Technology and Telecoms - Fintech," 2020-2021

-Notable Practitioner, Chambers and Partners 2019 FinTech Guide, 2019

-South Florida Legal Guide, "Top Lawyer," 2011-2021

- Team Member, "Corporate/M&A – Law Firm of the Year," Chambers Latin America Awards, 2014

- Team Member, Corporate Board Member magazine and FTI Consulting Inc., one of "America’s Best Corporate Law Firms," 13 Annual Legal Industry Study, 2013

- Team Member, "Corporate & Finance - International Counsel in Latin America (Florida-Based)," Chambers Latin America Awards, 2010, 2011, 2013, 2015 and 2016

-Team Member, top corporate law firm in Miami as selected by corporate directors, in the annual "Legal Industry Research Study," Corporate Board Member magazine and FTI Consulting Inc. (10 year), 2002-2009, 2011-2012

-Chambers Global, 2009-2011

- Chambers Latin America, Corporate M&A, 2009

-Team Member, "Focus on Latin America - Law Firm of the Year (Florida-Based)," Chambers Latin America Inaugural Awards for Excellence, 2009

- Who's Who Legal Florida, 2008

-Florida Trend magazine, "Legal Elite," 2006-2008

- Recipient, "Pro Bono Service Award," Dade County Bar Association, 2005

Industry Sector Expertise

- Speaker, Strafford Webinar CLE, “Corporate Transparency Act’s Impact on Banking: Ensuring Compliance; Interplay With Know Your Client Due Diligence Rules,” April 9, 2024

-Speaker, “General Session 10 - Corporate Transparency Act Update,” FIBA AML Conference 2024, March 21, 2024

- Speaker, Strafford Webinar CLE, “AI in Banking and Financial Services: Balancing the Benefits of AI With Legal and Regulatory Issues, Risks,” January 9, 2024

-Speaker, “Access to and Protection of Beneficial Ownership Information under the Corporate Transparency Act,” Asociación Bancaria de Panamá XXVII Hemispheric Conference 2023, August 16, 2023

-Speaker, “Florida’s New Anti - Environmental, Social, and Governance (ESG) Bill aka House Bill 3, Its Implications And Challenges to the Financial Services Industry, Anti-Money Laundering Compliance Programs, and Other Factors,” INTEGRO TALKS Podcast, July 6, 2023

-Speaker, “Revisiting Bank Receiverships: Operation of Bridge Banks, Disposition of Failed Bank Assets, Concerns for Existing Borrowers, and Risks for D&Os,” Strafford Webinar, June 21, 2023

- Speaker, “Too Big/Too Small to Fail: What Lies Ahead Bank Receiverships, the FDIC, the Federal Reserve, and You,” Association of Corporate Counsel Webinar, April 6, 2023

- Speaker, “The Anti-Money Laundering Act of 2020 - Where Do We Stand on the CTA?,” FIBA AML Conference, March 15, 2023

Publications

- “Lenders Must Look To The Law as Fla. Joins Disclosure Trend”, Law360, Co-author, August 11, 2023

-“State Street sees opportunity in court win for spot bitcoin ETF”, Techtelegraph, Quoted, September 5, 2023

Expert in these Jurisdictions

Florida and District of Columbia

Languages Spoken

English and Spanish

Experience

Some of the experience represented below may have been handled at a previous firm.

- Represented Paysafe, a leading specialized payments platform, as M&A and financial regulatory counsel in its acquisition of SafetyPay.

- Represented Cross River Bank as financial regulatory counsel in its acquisition of Betterfin, Inc.

- Represented Keefe, Bruyette & Woods, Inc., an investment banking firm, as underwriter’s counsel in the initial public offering of 1,975,000 shares of common stock of First Western Financial, Inc.

Education