Former General Counsel of the California Department of Financial Protection and Innovation, Avy Mallik, Joins Morrison Foerster

SAN FRANCISCO, Oct. 7, 2025 /PRNewswire/ -- Morrison Foerster, a leading global law firm, is pleased to announce the arrival of Avy Mallik, former General Counsel of the California Department of Financial Protection and Innovation (DFPI), as a partner in the Financial Services Group based in the San Francisco office. Mallik brings to the firm significant leadership experience in state and federal government, coupled with deep subject matter experience in financial regulation, fintech, and digital assets law and policy.

"Having led the implementation of California's landmark Digital Financial Assets Law, which has key licensing components going into effect in 2026, Avy brings a deep understanding of fintech regulation, consumer financial services, and innovations at the intersection of financial technology with evolving markets considerations such as AI," said Jeff Silberman, co-chair of the Financial Services Group and co-lead of the Fintech practice.

"Avy's experience with and leadership on these complex issues meaningfully expands our West Coast financial regulatory and enforcement capabilities, making him a fantastic strategic asset to the firm and to our clients in the Bay Area and beyond. This is an exciting time of growth for our practice, and we look forward to continuing this momentum," added Jeremy Mandell, co-chair of the Financial Services Group.

As General Counsel of the DFPI, appointed by California Governor Gavin Newsom, Mallik served as the lead legal and policy advisor to the Governor's Office, the DFPI Commissioner, and senior leadership, overseeing several key DFPI divisions across legal, securities, digital assets, and broker-dealer and investment advisers. He played an instrumental role in overseeing DFPI's liquidation of a California-based bank primarily serving the technology and venture capital sectors and managed the resulting contagion risk affecting the banking sector. Prior to his time at the DFPI, Mallik served as Director of Fintech Policy for the U.S. House Financial Services Committee, where he led Congressional oversight and legislative initiatives on fintech, artificial intelligence, and digital assets, and was the lead staffer on federal stablecoin legislation during his tenure. Earlier in his career, he was an Assistant Attorney General in the Maryland Attorney General's Consumer Protection Division. Mallik is widely known in the government sector, having testified before state legislatures several times, and is a frequent speaker and writer on timely public policy issues related to financial services regulation, AI, and digital assets.

"I am eager to join Morrison Foerster's outstanding Financial Services team at such a pivotal time for the financial sector in California and nationwide," said Mallik. "I look forward to helping clients navigate the complexities associated with state and federal financial regulation, including licensing and enforcement, state AG investigations, digital asset compliance, and other pressing issues during this period of dynamic growth and innovation," he added.

With Mallik's addition, Morrison Foerster has added three Financial Services and Fintech partners since June 2025. This includes the additions of Alexandra Steinberg Barrage and Matthew Bornfreund in Washington, D.C., underscoring the continued strategic expansion of the firm's Financial Services and Fintech capabilities and team.

About Morrison Foerster
Morrison Foerster is a leading global law firm. Our clients include some of the most innovative companies—from startups to Fortune 100 leaders—in technology, life sciences, financial services, food and agriculture, and other industries. Highlighting the firm's commitment to client service, leadership in market-changing deals and impact litigation, and values‑based culture, Morrison Foerster has been named on The American Lawyer's A-List for 21 of the ranking's 22 years. Year after year, the firm receives significant recognition from Chambers and The Legal 500 across their various guides, including Global, USA, Asia Pacific, Europe, UK, Latin America, and FinTech Legal. Our lawyers passionately care about delivering legal excellence while living our values. We believe that an inclusive workplace is crucial to leveraging the talents of all people who work here and enhancing our ability to provide top-class legal services for our clients. For more information, visit www.mofo.com.

SOURCE Morrison Foerster