Pub. 9 2019 Issue 3

17 ISSUE 3. 2019 permission to exceed the consumer cap while seeking a license from the appropriate state authority. 24 A.R.S. § 41-5605(C). 25 https://azag.gov/fintech/application. 26 HB 2177 now also requires applicants to describe how they “will employ cybersecurity measures to avoid breaches and protect con- sumer and transaction data.” 27 See https://azag.gov/press-release/arizona-accepts-first-par - ticipant-fintech-sandbox announcing that “a new cooperation agreement has been signed with Taiwan’s financial regulator, the Financial Supervisory Commission (FSC), designed to increase the reach of Arizona’s FinTech Sandbox. In September, the Attorney General’s Office finalized a Memorandum of Understanding (MOU) with the FSC to establish a cooperation structure between Arizona’s program and the FSC’s program in Taiwan. The goal is to create an information-sharing arrangement between the regulators that may result in the opportunity for businesses to develop/test eligible FinTech products in both markets.” 28 See https://azag.gov/fintech/participants. 29 Video of testimony on the legislation can be viewed by visiting https://apps.azleg.gov/BillStatus/BillOverview and entering the bill number. 30 See HB 2177 testimony, available at https://apps.azleg.gov/BillSta- tus/BillOverview. 31 See https://azag.gov/fintech/faq. Mike Patterson is a partner at Spencer Fane LLP in the firm’s Phoenix office. He helps businesses navigate corporate, compliance and securities matters, and he has extensive experience in domestic and international mergers and acquisitions, joint ventures, strategic alliances, equity and debt offerings, foreign direct investment, dis - tribution, agency and licensing matters and market entry strategies. Caroline Lynch is founder and owner of Copper Hill Strategies LLC, in Phoenix, Arizona. She provides businesses with strategic fed- eral and state government relations and business developments ser- vices. Caroline previously worked on Capitol Hill for over a decade, most recently as Chief Counsel of the House Judiciary Subcommittee on Crime, Terrorism, Homeland Security, and Investigations. Paul Hickman and Mary Lynn Lenz presented the AzBA’s Pac check to the ABA in Minneapolis, Minnesota. Paul Hickman and Mary Lynn Lenz