Aschettino joins from Reed Smith, where he led the Payments Technology team and was a member of its FinTech practice. Aschettino’s experience also includes serving as Chief Legal Officer of a leading payment processor.
With over 20 years of experience handling a wide variety of complex business law and high-stakes litigation matters, Aschettino counsels financial institutions, technology companies, payment processors, merchant acquirers, ISOs/MSPs/ISVs, marketplaces, cryptocurrency issuers and exchanges, FinTech startups and other players in the payments space. He also works with some of the largest retailers, manufacturers, entertainment and social media companies, consumer brands, airlines, energy providers and sports franchises to develop and implement payments technology solutions.
Aschettino assists clients with matters involving electronic payments, mobile wallets, prepaid cards, digital currency, blockchain technology, money transmission and related licensing issues. He has extensive experience with developing new products, negotiating key sponsorship and processing agreements, structuring intercompany transactions, performing regulatory due diligence and resolving contractual disputes. Aschettino regularly counsels on federal and state payments, financial and consumer regulatory issues, data privacy and security and compliance with PCI-DSS, card-network and NACHA rules.
Gerry Pecht, Norton Rose Fulbright’s Global Chief Executive, commented:
“FinTech is a core strategic practice for our firm. Adding Stephen, with his deep payments-sector experience, significantly strengthens our FinTech practice in the US and expands the capabilities that we offer clients across the globe.”
Jeff Cody, Norton Rose Fulbright’s US Managing Partner, said:
“Stephen is an exceptional lawyer with a track record of success for clients in payments and FinTech. He will be invaluable to us in growing and managing a formidable global team of FinTech lawyers.”
Sean Murphy, Norton Rose Fulbright’s Global Head of FinTech, said:
“We have exceptional FinTech, financial services and financial regulatory capabilities around the world. With Stephen now leading our efforts in the US, our ability to provide seamless and superior service to leading financial institutions, payments companies and global corporations that are deploying FinTech solutions is greatly enhanced.”
Aschettino, who has served on diversity committees at previous firms and led their Hispanic affinity groups, said:
“Joining Norton Rose Fulbright benefits both me and the clients I serve, as payments technology is advancing at an unprecedented pace on a global scale. The firm’s far-reaching capabilities will foster collaboration with global colleagues as we help clients solve complex, cross-border FinTech issues.”Licensed to practice in New York and in numerous federal courts, Aschettino earned his law degree from American University, Washington College of Law and his Bachelor of Science from Cornell University. He is a recognized thought leader and frequent speaker on FinTech issues and is often quoted in legal, financial and regulatory media.