Starting May 31, National Futures Association (“NFA”) Members and Associates that engage in digital asset commodity activities must comply with NFA Compliance Rule 2-51 (“Rule 2-51” or the “Rule”) regarding anti-fraud, just...more
SEC/CORPORATE - SEC Amends Disclosure Rules for Registered Debt Offerings - On March 2, the Securities and Exchange Commission adopted amendments to the financial disclosure requirements for registered debt offerings...more
Product innovation (including in pooled investment vehicles) is encouraged, but innovation must be consistent with the law. The US Commodity Futures Trading Commission’s (CFTC’s) Division of Swap Dealer and Intermediary...more
The NFA will soon require CPO, CTA, FCM, and IB member firms to provide various disclosures warning investors of virtual currency spot and derivatives trading risks. New disclosure requirements warning customers,...more
• The U.S. Securities and Exchange Commission (SEC) staff made official statements regarding when a token may or may no longer be a security • The SEC continued to bring actions related to cryptocurrency offerings against...more
Amid concerns that many investors may not fully understand the risks associated with virtual currencies, or the limits of regulatory oversight, the National Futures Association (NFA) recently issued an interpretive notice...more
The National Futures Association (NFA) announced the effective date of its interpretive notice that establishes virtual currency disclosure requirements applicable to futures commission merchant, introducing broker, commodity...more
The National Futures Association’s proposed virtual currency disclosure requirements would be applicable to futures commission merchant, introducing broker, commodity pool operator, and commodity trading advisor member firms....more
Citing the ongoing risk of terrorist and cyber-attacks, the 2008 financial crisis, and Hurricanes Katrina and Sandy, the Securities and Exchange Commission (“SEC”) has issued proposed rules under the Investment Advisers Act...more
On January 15, 2015, two days after the Swiss National Bank reaffirmed its commitment to a three-year peg on the franc, and less than a month after stating that the cap was “absolutely central,” and it would continue to...more
In This Issue: - SEC Staff Releases Analysis Related to Pay Ratio Disclosure Rules - States Challenge Blue Sky Preemption Under Regulation A+ - FINRA Proposes Revised BrokerCheck Hyperlink Rule -...more
Editor’s Note - The Supreme Court Halts Challenge by Retailers to the Debit Card Interchange Fee Rules: On January 20, 2015, the Supreme Court denied certiorari to a challenge by retailers to debit card interchange fee...more
National Futures Association (NFA) has adopted a rule requiring firms and individuals to pay $1,000 fines for failing to disclose disciplinary matters on registration applications or failing to update existing registration...more