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FSB reports on shadow banking

FSB has published a suite of papers on shadow banking. The papers comprise: - a progress report on actions taken to implement FSB’s two-pronged strategy to address financial stability concerns associated with shadow...more

Financial Regulatory Developments Focus - November 2015 #4

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

FSB publishes global securities financing standards and processes

FSB has published its report on standards and processes for global securities financing data collection and aggregation. FSB highlighted the importance of securities financing transactions in supporting price discovery and...more

Your daily dose of financial news The Brief – 11.25.15

A groundbreaking move by Calpers—California’s state pension fund—to disclose how much money it’s made from and paid to private equity funds ($24.2 billion and $3.4 billion, respectively, since 1990) may help pave the way for...more

Joanne Soslow on Raising Capital in Today's World [Video]

Joanne Soslow, partner and head of the Securities Practice Group of Morgan Lewis, talks about how recent regulations and the rise of social media has changed the landscape for companies seeking to raise capital in the 21st...more

SEC Releases Guidance on Examination of Broker-Dealer and Investment Advisor Information Security Practices; NYSE Releases...

The Security and Exchange Commission’s Office of Compliance Inspections and Examinations (the “OCIE”) recently announced its 2015 Cybersecurity Examination Initiative, which describes the focus of the OCIE’s examination of...more

Dow Jones & Co. notifies 3500 of data breach

Dow Jones & Co. Has notified 3500 of its customers that their information has been accessed by unauthorized individual in a data breach that spanned August of 2012 through July of 2015. The unauthorized access, through...more

SEC Freezes Hacker’s Assets

Federal oversight related to hacking recently made headlines when a federal court in New Jersey granted the Securities and Exchange Commission’s (SEC’s) motion to freeze assets connected to a hedge fund manager accused of...more

New York Stock Exchange releases cybersecurity guide for public companies

We continue to urge CEOs and boards of public companies (and private and not-for profits) to harken the call of getting a handle on cybersecurity risk to companies today. Not too soon, the New York Stock Exchange published a...more

Investment Management Update - October 2015

Below is a summary of recent investment management developments that affect registered investment companies, private equity funds, hedge funds, investment advisers, and others in the investment management industry. Schwab...more

Bristol-Myers Squibb Pays $14 Million to SEC to Resolve China FCPA Offenses

On October 5, the SEC announced a settlement with Bristol-Myers Squibb to resolve allegations that the pharmaceutical company’s Chinese joint venture, BMS China, gave cash, jewelry, and other benefits to health care providers...more

Scottrade announces data breach affecting 4.6M customers

Scottrade, a retail brokerage firm, announced late last week that it suffered an intrusion by cyber hackers who stole client contact information of 4.6 million customers. The intrusion occurred between late 2013 and early...more

New CFTC Cybersecurity Standards Are Coming Soon

On September 29, 2015, Commodity Futures Trading Commission (CFTC) Chairman Timothy Massad delivered a “State of the Derivatives Marketplace” speech before the 3rd Annual OTC Derivative Summit North America. The speech...more

Healthcare & Life Sciences Private Equity Deal Tracker: AMO Pharma Secures $25 Million in Financing

AMO Pharma Limited has announced it has secured $25 million in private equity financing. AMO Pharma, with offices in Philadelphia and London, is a privately held biopharmaceutical company focusing on debilitating...more

Getting Hammered: California Trial Court Finds for E*Trade in Long-Running Misappropriation Case Where Plaintiff Destroyed the...

In a fifteen-year tale of how not to protect your emerging company’s trade secrets when dealing with the big fish, on September 16, 2015, a California trial court denied a company’s bid for royalties for technology...more

SEC Settles Charges Against Investment Firm that Failed to Adopt Cybersecurity Policies Before Data Breach

Recently, the SEC announced that R.T. Jones Capital Equities Management, a St. Louis-based investment adviser, agreed to settle charges that it failed to establish the required cybersecurity policies and procedures before a...more

SEC brings first cybersecurity-related enforcement action

The Securities and Exchange Commission (“SEC”) recently settled its first cybersecurity-related enforcement action against a Missouri based registered investment adviser, R.T. Jones Capital Equities Management, Inc. (the ...more

SEC Penalizes Investment Adviser over Inadequate Cyber-Risk Program Prior to Data Breach

On September 22, the SEC ordered a Missouri-based investment adviser to pay a $75,000 penalty, settling allegations that the investment adviser failed to implement required written cybersecurity policies and procedures prior...more

SEC’s Increased Cybersecurity Enforcement and How to Reduce Your Risks

The SEC announced last week that an investment adviser had agreed to settle charges that it failed to take required steps to protect against and respond effectively to a cybersecurity breach. The action comes on the heels of...more

OCIE Issues Cybersecurity Risk Alert and Exam Plans; Follows Up with Enforcement Action

The Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) recently released a Risk Alert containing its plan for a second round of cybersecurity examinations of registered...more

Crowdfunding: A Potential Cash Source for Business That Could Make a Well-Intentioned Company's Financial State Worse

“Crowdfunding”: In broad terms, it’s a decade-old means to an end for those with bright ideas and dim financials who hope to bring an inspired cause to market. As established as the practice is, with the more recent explosion...more

The SEC OCIE Announces Increased Scrutiny of Broker-Dealers’ and Investment Advisers’ Cybersecurity Programs

On September 15, 2015, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a National Exam Program Risk Alert (2015 Risk Alert) to provide broker-dealers and investment...more

Investment Adviser Settles SEC Charges After Data Breach

Last week, the Securities and Exchange Commission (SEC) settled charges against a registered investment adviser for failing to comply with Rule 30(a) of Regulation S-P (17 C.F.R. § 248.30(a)) (“Safeguards Rule”). The...more

3…The Number of Weeks in a Row for Bitcoin Related CFTC Guidance…CFTC Settles With Bitcoin SEF Over Wash Sales / Prearranged...

On September 24th, the U.S. Commodity Futures Trading Commission (CFTC) settled charges against TeraExchange LLC, a provisionally registered bitcoin swap execution facility (SEF). The charges stem from a non-deliverable...more

Bitcoin Week in Review 09.19.15 – 09.25.15

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

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