In recent years, a new field called “prop trading” has emerged. It enables traders to trade financial products such as stocks, commodity bonds, cryptocurrencies, CFDs, and forex products without using their own money, but...more
In recent weeks, numerous news articles have reported on the arrests of Israeli citizens resulting from foreign investigations conducted abroad. In one instance, more than 20 employees of a Tel Aviv based company engaging in...more
Civic unrest in the wake of the police killing of George Floyd in Minneapolis is complicating reopening plans for cities and businesses around the country trying to restart after months of coronavirus-related closures....more
The U.S. Commodity Futures Trading Commission (CFTC) has charged a man from Colorado with fraud and failing to register with it in respect of a scheme that involved Ponzi-type payments....more
Hackers who targeted airport currency exchange mainstay Travelex in a ransomware attack on New Year’s Eve have alerted British media that they possess 5 GB of sensitive customer data from the company “since gaining access to...more
On October 23rd, 2019, the State Administration of Foreign Exchange (“SAFE”) issued a Circular on Further Promoting the Facilitation of Cross-border Trade and Investment (Hui Fa [2019] No.28) ("Circular 28"). The Circular 28...more
The Situation: Recent enforcement actions and settlements by the U.S. Commodity Futures Trading Commission ("CFTC," or the "Commission") demonstrate that the Commission views registration violations as an enforcement...more
Bloomberg is reporting that Walgreens Boots is weighing a potential deal “to take the company private in what could become the largest leveraged buyout in history.” PE firms like KKR are apparently in the mix to assist in the...more
Drug giants Pfizer and Mylan have inked a deal that will merge the former’s off-patent drugs with the latter’s generics business, a tie-up that creates a mammoth global seller of lower-priced medicines....more
Fed vice chair Richard Clarida, in comments to the Economic Club of NY on Thursday, hoped to calm turbulent markets by noting that central bank officials would indeed consider lower-than-desired inflation along with “global...more
FCC Chair Ajit Pai gave his agency’s stamp of approval to the pending $26 billion T-Mobile/Sprint merger on Monday, helping move the deal towards completion based on pledges from the companies to develop “a robust 5G network...more
Corruption Watch UK has claimed that “a company committing economic crime in the US is far more likely to be hit with criminal, civil and regulatory penalties than one in the UK.” In a hard-hitting report published on 5 March...more
• By January 31, 2021, all swap associated persons of registered CPOs and CTAs must take and pass the NFA’s new swaps proficiency requirements. • The swaps proficiency requirements mirror the proficiency testing long...more
Some continuing reaction to the potential end to the trade war between the US and China, through the lens of a Delaware lighting store [NYTimes] and US businesses far more broadly, who are grappling with the question of what...more
OxyContin maker Purdue Pharm is prepping for a possible bankruptcy filing “as it seeks to contain liability from hundreds of lawsuits alleging it fueled the nation’s opioid epidemic.” Officially, the company went on the...more
Though expected after its earlier move to cut its revenue forecast, Apple’s official quarterly profits reporting yesterday still disappointed, as the company posted its “first holiday-quarter drop in both revenue and profit...more
The European Union has fined Mastercard $650 million for “breaching antitrust rules by raising payment-processing fees artificially, leading to higher prices for retailers and consumers” alike. The penalty came after a 6-year...more
More than 800,000 government employees missed their first paycheck last Friday because of the continuing government shutdown. But the pain extends well beyond those workers and has put loads of government contractors in a...more
We’ve got details on China’s proposed trade peace deal along with thoughts on whether it’ll be sufficient to satisfy a White House that’s been itching for a fight....more
This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including DOJ guidance on the use of corporate monitors in criminal...more
British and EU negotiators have reached a draft Brexit deal that PM May now needs to sell to her “deeply divided” cabinet. Not that her challenges would end there, mind you, as any deal would then face a skeptical Parliament...more
A recap of Friday’s GDP numbers, which featured both a strong 3.5% growth rate and early signs that “the growth could cool in coming months”...more
The Federal Reserve bank released the minutes from its September meeting yesterday. Among other things, we learned that the Fed Governors moved largely in lockstep on September’s rate hike, even as the crew was less unanimous...more
Markets took a beating yesterday, with investors apparently put off by tech stocks, tensions with China, a recent jump in interest rates and government bond yields, and a tightening Fed monetary policy....more
A federal court in Brooklyn, New York, issued a much-anticipated decision, holding that digital assets issued as part of initial coin offerings could be securities under applicable law. Although this decision was issued...more