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LEADING PAYMENTS INDUSTRY ADVISOR JOINS ORRICK’S FINTECH PRACTICE IN WASHINGTON, D.C.

Orrick announced today that Barrie VanBrackle, an authority on payments and consumer financial services compliance, has joined the firm as a partner, resident in its Washington, D.C., office. Barrie joins from Manatt, Phelps & Phillips where she served as co-chair of the firm’s Global Payments and Consumer Financial Services practice groups.

Barrie VanBrackle
Barrie focuses on three areas at the cross-section of the FinTech space: 1) consumer-facing financial and banking regulatory counseling and investigations; 2) payment card industry (PCI) and brand operating rules, including the PCI Data Security Standards; and 3) strategic transactions and deals on behalf of leading merchants, payment processors and FinTech vendors. In addition, she has deep experience advising corporate and private equity clients in M&A contexts and other investments in FinTech.
“Virtually every one of our clients, in the tech sector and beyond, needs to navigate payment brand and privacy rules in connection with e-commerce operations, and regulators are increasingly aggressive in this area. Barrie adds to our team an advisor of the highest caliber on these business critical issues,” said Stephen Venuto, leader of Orrick’s Technology Companies Group, which Barrie will join. She will also work closely with Orrick’s global Cybersecurity & Data Privacy team.
“A significant focus area for our D.C. office is to expand our bench of trusted advisors with deep insights into the regulatory issues that are most important to our technology, financial services, and energy & infrastructure clients,” said Kyle Drefke, leader of Orrick’s Washington, D.C. office. “Adding a prominent practitioner like Barrie is right in line with our strategy.”
Tony Kim, head of Orrick’s Cybersecurity & Data Privacy practice, added, “Barrie’s payments expertise and FinTech focus will allow our team to provide life-cycle privacy and cyber services across counseling, investigations and litigation engagements for our global innovation clients.”
“I am excited to join a firm like Orrick that is serious about the technology and financial services sectors. The firm is a leading advisor to clients in the FinTech sector and has extensive experience working with both established and emerging companies in all areas of the market. In addition, the Orrick platform offers tremendous sector-focused transactional and litigation resources to my clients, including clients that we already have in common,” said Barrie.
Barrie is a sought after speaker on the evolving regulatory and compliance issues surrounding payments and related e-commerce matters. She earned her J.D. from Washington University School of Law and her B.A. from Johns Hopkins University.
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Bitcoin, ether hit fresh highs

SINGAPORE (Reuters) – Bitcoin hit a fresh high in Asian trading on Saturday, extending a two-month rally that saw its market capitalisation cross $1 trillion a day earlier.
The world’s most popular cryptocurrency rose to an record $56,620, taking its weekly gain to 18%. It has surged more than 92% this year.
Bitcoin’s gains have been fuelled by evidence it is gaining acceptance among mainstream investors and companies, such as Tesla Inc, Mastercard Inc and BNY Mellon.
Ether, the second-largest cryptocurrency by market capitalization and daily volume, hit a record $2,040.62, for a weekly gain of about 12%.
Ether is the digital currency or token that facilitates transactions on the ethereum blockchain. In the crypto world, the terms ether and ethereum have become interchangeable.
Ether futures contracts launched on derivatives exchange CME earlier this month.
(Reporting by Vidya Ranganathan; Editing by William Mallard)
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World Bank pushing for standard vaccine contracts, more disclosure from makers

By Andrea Shalal
WASHINGTON (Reuters) – The World Bank is working to standardize COVID-19 vaccine contracts that countries are signing with drug makers, and is pushing manufacturers to be more open about where doses are headed, as it races to get more vaccines to poor countries, the bank’s president said on Friday.
World Bank President David Malpass told Reuters he expected the bank’s board to have approved $1.6 billion in vaccine funding for 12 countries, including the Philippines, Bangladesh, Tunisia and Ethiopia, by the end of March, with 30 more to follow shortly thereafter.
The bank is working with local governments to identify and fill gaps in distribution capacity, after they purchase vaccines under a $12 billion World Bank program, and also to standardize the contracts they are signing with manufacturers, he said.
The bank’s International Finance Corp, its private financing arm, has $4 billion to invest in expanding existing production plants or building new ones, including in developed countries, but needs more data on where current production is headed, he said.
“We are eager to be investing in new capacity, but it’s hard to do because you don’t know how much of the existing capacity is already committed to the various off-takers,” Malpass said in an interview with Reuters. New or expanded plants could be used to produce other types of vaccinations in the future, he said.
The bank’s funds could be used to expand plants in advanced economies, if the production was earmarked for developing nations, he said.
Malpass welcomed Friday’s pledge by the Group of Seven rich countries to intensify cooperation on the pandemic, saying it could help jump-start deliveries of vaccines to poorer countries, which are lagging far behind rich countries in getting shots in arms.
Data compiled by Our World In Data, a scientific online publication, showed Israel was leading the world in COVID-19 vaccinations, with nearly 82 of 100 people vaccinated, while India and Bangladesh reported less than one person per 100, Many African countries have not started at all.
Malpass said he was heartened by news about new vaccines coming down the road, and about Pfizer Inc and BioNTech SE seeking permission to store their vaccine at higher temperatures, which would ease another obstacle to deliveries in lower-income countries.
(Reporting by Andrea Shalal; Editing by Heather Timmons and Leslie Adler)
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Google to evaluate executive performance on diversity, inclusion

By Paresh Dave
(Reuters) – Alphabet Inc’s Google will evaluate the performance of its vice presidents and above on team diversity and inclusion starting this year, the company said on Friday in one of several responses to concerns about its treatment of a Black scientist.
Timnit Gebru, co-leader of Google’s ethical artificial intelligence research team, said in December that Google abruptly fired her after she criticized its diversity efforts and threatened to resign.
Alphabet and Google Chief Executive Sundar Pichai ordered a review of the situation. While Google declined to share specific findings, the company announced on Friday it will engage human resources specialists during sensitive employee departures.
Pichai in June said that by 2025, Google aims to have 30% more of its leaders come from underrepresented groups, with a focus on Black, Latinx and Native American leaders in the United States and female technical leaders globally. About 96% of Google’s U.S. leaders at the time were white or Asian, and 73% globally were men.
As a result of the investigation, the company also expanded a commitment announced in June to devote more resources to retaining and promoting existing employees, including by expanding a team addressing disputes among workers and their managers.
The diversity component of executive performance reviews was not previously announced, and the company did not immediately share details about what would be measured and how pay would be affected.
Alphabet for years had rejected proposals from shareholders and employees to set diversity goals and tie executive pay to them.
Irene Knapp, a former Google employee who advocated for one such proposal at a 2018 shareholder meeting, said on Friday, “I am pleased that they met our demand from 2018, which was a bare minimum that should have been easy to do immediately.”
Evaluating managers on diversity goals is becoming more commonplace. McDonald’s Corp on Thursday tied executive bonuses to diversity.
(Reporting by Paresh Dave; Editing by Cynthia Osterman)