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 and OFAC sanctions programs, cryptocurrency regulation, mobile money and FinTech, federal and state agency enforcement proceedings, Dodd-Frank Act compliance, and COVID-19/CARES Act economic stimulus program advice (ranging from Small Business Administration PPP loans to Federal Reserve Main Street program 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 29 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

- 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, 2008-2023

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

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

Chambers USA, 2005-2022

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

Super Lawyers magazine, Florida Super Lawyers, 2007-2015, 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

Experience

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

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

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

- Representation of 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.

Industry Sector Expertise

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

Expert in these Jurisdictions

Florida and District of Columbia

Languages Spoken

English and Spanish

Education