The New York State Department of Financial Services cancelled the temporary authority of a major cryptocurrency exchange to operate in New York, saying its failure to meet anti-money laundering, AML compliance officer quality...more
4/16/2019
/ Anti-Money Laundering ,
BitLicense ,
Capital Requirements ,
Cryptocurrency ,
Department of Financial Services ,
Department of Justice (DOJ) ,
Distributed Ledger Technology (DLT) ,
Financial Conduct Authority (FCA) ,
Money Transmitter ,
No-Action Letters ,
NYDFS ,
Proposed Legislation ,
Safe Harbors ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Virtual Currency
CFTC Chairman Nominee Warns of Tough Love to Come: KISS But Also Aggressive and Assertive Enforcement:
In a speech last week before an assembly of industry executives at FIA’s annual Boca Raton conference, J. Christopher...more
SEC/CORPORATE -
Supreme Court Rules on Insider Trading Involving Family and Friends -
In its first insider trading decision in nearly two decades, the US Supreme Court ruled unanimously to uphold an insider trading...more
CFTC Re-Proposes Capital Rules for Swap Dealers:
The Commodity Futures Trading Commission re-proposed minimum capital requirements for swap dealers and major swap participants that are not subject to prudential...more
Industry Comments to Regulation AT Argue CFTC Proposed Rules Too Prescriptive; Registration and Source Code Requirements Particularly Objectionable -
After declining multiple requests to extend the comment period that...more
3/22/2016
/ Algorithmic Trading ,
Capital Requirements ,
Central Counterparties ,
Comment Period ,
CPO ,
Derivatives Clearing Organizations ,
Designated Contract Markets (DCMs) ,
Enforcement Actions ,
EU ,
Forex ,
Major Swap Participants ,
NFA ,
Recordkeeping Requirements ,
Serious Fraud Office (SFO) ,
Swap Dealers ,
UK
SEC to Permit Capital Raising Through Crowdfunding: The Securities and Exchange Commission finalized rules that will permit eligible companies to raise money through Internet offerings of their securities—a practice known as...more
11/3/2015
/ Banking Sector ,
Basel Committee on Banking Supervision (BCBS) ,
Broker-Dealer ,
Capital Formation ,
Capital Requirements ,
Clearing Members ,
Crowdfunding ,
Enforcement Actions ,
Excessive Fees ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Goldman Sachs ,
Mutual Funds ,
NYDFS ,
Retirement Plan ,
Securities and Exchange Commission (SEC) ,
Swaps ,
TRACE
Proposed Automated Trading Rule by CFTC Likely to Follow Already Existing Best Practices; SEC Also Contemplating New Measures -
In two speeches last week, Timothy Massad, Chairman of the Commodity Futures Trading...more
10/27/2015
/ Capital Requirements ,
CFTC ,
Commodities ,
Covered Swap Entities (CSE) ,
Electronic Trading ,
Farm Credit Administration ,
FDIC ,
Financial Conduct Authority (FCA) ,
High Frequency Trading ,
International Banks ,
Margin Requirements ,
Regulatory Agenda ,
Sanctions ,
Securities and Exchange Commission (SEC) ,
Spoofing ,
Swaps ,
UK ,
Uncleared Swaps
Charles Schwab Fined US $2 Million by FINRA for Net Capital Deficiencies: Charles Schwab & Co. agreed to pay US $2 million to the Financial Industry Regulatory Authority to resolve allegations that it had net capital...more
9/1/2015
/ Administrative Hearings ,
Administrative Law Judge (ALJ) ,
Anti-Money Laundering ,
Appeals ,
Barclays ,
Block Trades ,
BNP Paribas ,
Capital Requirements ,
CFTC ,
Charles Schwab ,
Corporate Fines ,
Dark Pool ,
Dealers ,
Derivatives ,
Dismissals ,
EU ,
European Securities and Markets Authority (ESMA) ,
Exchange-Traded Products ,
Financial Industry Regulatory Authority (FINRA) ,
Flash Boys ,
High Frequency Trading ,
Investment Adviser ,
Liquidation ,
National Futures Association ,
Office of Foreign Assets Control (OFAC) ,
Proposed Regulation ,
Sanctions ,
SAR ,
Securities and Exchange Commission (SEC) ,
Stress Tests ,
UBS
FC Stone Companies and Goldman Sachs Receive Largest Fines in CME Group’s 27 Disciplinary Actions Cascade:
CME Group handed down sanctions in 27 separate disciplinary actions last week for alleged violations of rules...more
7/28/2015
/ Alternative Investment Fund Managers Directive (AIFMD) ,
AML/CFT ,
Broker-Dealer ,
Capital Requirements ,
CFTC ,
Chicago Mercantile Exchange (CME) ,
Commercial Bankruptcy ,
Commodity Trading Advisors (CTAs) ,
Creditors ,
Dodd-Frank ,
DSIO ,
EU ,
European Securities and Markets Authority (ESMA) ,
Goldman Sachs ,
ISDA ,
Rare Earth Metals ,
Sanctions
The New York State Department of Financial Services (NYDFS) recently issued its final BitLicense regulations with respect to Bitcoin and other virtual currencies. The new regulations require the licensing of, and establish...more
7/9/2015
/ Bitcoin ,
BitLicense ,
BSA/AML ,
Capital Requirements ,
Compliance ,
Cybersecurity ,
Entrepreneurs ,
Financial Institutions ,
New Regulations ,
Startups ,
Venture Capital ,
Virtual Currency
NYDFS Issues BitLicense Framework for Regulating Virtual Currency Firms -
The New York State Department of Financial Services issued final regulations requiring a so-called “BitLicense” and establishing minimum...more
6/9/2015
/ Bitcoin ,
BitLicense ,
Capital Requirements ,
CFTC ,
Clearing Agencies ,
Commodities ,
Compulsory Licenses ,
European Commission ,
Final Rules ,
Financial Industry Regulatory Authority (FINRA) ,
Goldman Sachs ,
Kraft ,
Market Manipulation ,
Merrill Lynch ,
NYDFS ,
Price Manipulation ,
Securities and Exchange Commission (SEC) ,
Short Sales ,
Swaps ,
Virtual Currency
CFTC Commissioner Bowen Argues for User Fees During House Subcommittee Hearing; Commissioner Wetjen Calls for Bankruptcy Law Amendments to Permit Individual Segregation of Customer Funds -
Commodity Futures Trading...more
4/23/2015
/ Bank of New York (BNY) Mellon ,
BSA/AML ,
Capital Requirements ,
CFTC ,
Congressional Investigations & Hearings ,
Custody Rule ,
Deutsche Bank ,
Enforcement Actions ,
Ernst & Young ,
Fiduciary Duty ,
Financial Statements ,
Fraud ,
Regulatory Agenda ,
Spoofing