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Securities Commodities Futures Trading Commission

Alston & Bird

CFTC Amends Regulation 4.7, Increasing Dollar Threshold for QEP Qualification and Codifying Monthly Reporting Option for Funds of...

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Our Investment Funds Group examines how the Commodity Futures Trading Commission (CFTC) has amended Regulation 4.7 to increase investor suitability standards and provide additional flexibility for funds-of-funds reporting....more

Akin Gump Strauss Hauer & Feld LLP

CFTC Finalizes Amendments to Rule 4.7

On September 12, 2024, the Commodity Futures Trading Commission (CFTC) finalized the first major changes to CFTC Regulation 4.7 (Rule 4.7) in over 30 years. Among other technical revisions, the amendments to Rule 4.7,...more

Katten Muchin Rosenman LLP

Selection of Gov. Walz as VP Harris's Running Mate Triggers Federal Pay-to-Play Restrictions on Investment Advisers and Other...

Vice President Kamala Harris's selection of Minnesota Gov. Tim Walz as her running mate imposes restrictions on campaign contributions to the Harris-Walz campaign by federally registered investment advisers (RIAs), exempt...more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 27

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

Latham & Watkins LLP

US House of Representatives Passes Financial Innovation and Technology for the 21st Century Act

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FIT21 would provide regulatory certainty for the US digital asset ecosystem, balancing support for innovation with consumer protection....more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 24

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

Katten Muchin Rosenman LLP

The Lesson of Prometheus – A Special Purpose Broker Dealer May Cause Havoc in TradFi by Unilaterally Declaring ETH To Be A...

As referenced in the opening scene of the 2023 Oscar-winning film Oppenheimer, Prometheus, the Greek god of forethought, is best known for stealing fire from the gods to give to humanity. As punishment, Zeus had Prometheus...more

Guidepost Solutions LLC

Emerging Expectations from the Latest Enforcement Actions Over Off-Channel Communications

Since December 2021, the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have levied almost $3.0 billion in penalties for longstanding failures by 39 broker-dealers, swap dealers,...more

WilmerHale

SEC Adopts New Requirements for US Treasuries Clearing and Risk Management

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On December 13, 2023, the Securities and Exchange Commission (SEC) voted (4-1) to adopt new requirements under the Securities Exchange Act of 1934 (Exchange Act), which will restructure the clearance and settlement of...more

Proskauer Rose LLP

Top 10 Whistleblowing and Retaliation Events of 2023

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2023 was another groundbreaking year for whistleblower litigation and bounty awards. The U.S. Securities and Exchange Commission shattered records by issuing a $279 million award and continued to actively enforce the...more

Allen Matkins

When Betting Crosses Regulatory Lines

Allen Matkins on

Earlier this week, Suzanne Cosgrove wrote about the Commodity Futures Trading Commission's decision to prohibit Congressional Control Contracts, which it described as "cash-settled, binary (yes/no) contracts based on the...more

BakerHostetler

Crypto Custody Services Expand; CFTC Enforcement Targets DeFi, SEC Targets NFTs; FinCEN Warns of Crypto Scams; Major Hacks Steal...

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Financial Services Firms Expand Cryptocurrency Custody Services - According to recent reports, the cryptocurrency custody arm of a major international bank has launched its institutional cryptocurrency custody services in...more

A&O Shearman

DeFi protocol Uniswap and investors avoid suit for fraudulent activity on digital asset exchange

A&O Shearman on

On August 30, 2023, in a case of first impression, the U.S. District Court for the Southern District of New York dismissed in full a putative securities class action against Uniswap Labs, a decentralized finance (“DeFi”)...more

BakerHostetler

Fintech Firms Launch New Products; Crypto Guidance Published by CFTC, EBA, UAE; OFAC Adds Public Keys to SDN List; CFTC, NY AG...

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Crypto Firms Announce New Product Launches in Custody, Stablecoins, Wallets - According to a recent press release, Prometheum Capital has received the first-ever approval from the Financial Industry Regulation Authority...more

Skadden, Arps, Slate, Meagher & Flom LLP

Contributions to Florida Gov. Ron DeSantis’ Presidential Campaign Are Subject to Federal Pay-to-Play Rules

Florida Gov. Ron DeSantis filed paperwork on May 24, 2023, to run for president in the 2024 election. In light of his announcement, it is important to keep in mind that contributions made to or solicited on behalf of Gov....more

WilmerHale

The Securities and Exchange Commission’s Implementation of Title VII of the Dodd-Frank Act: Reviewing the Status of Security-based...

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Gary Gensler served as Chair of the Commodity Futures Trading Commission (“CFTC”)from May 26, 2009 to January 3, 2014. He presided over the CFTC during the period that followed the 2008 financial crisis and led the CFTC...more

Pillsbury Winthrop Shaw Pittman LLP

How Are Digital Assets Regulated in the United States and Elsewhere?

Continuing instability in the crypto sector highlights the need for clear regulation for efficient development, but how best to regulate is an ongoing debate. Recent instability in the crypto sector will only intensify the...more

Proskauer Rose LLP

CFTC Head Urges Congressional Action on Crypto while SEC Leader Says Crypto Rulemaking is “Years Away”

Proskauer Rose LLP on

In congressional testimony on Thursday, September 15, U.S. Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam urged U.S. Senators to pass a bill that would explicitly grant the CFTC broad regulatory oversight...more

Latham & Watkins LLP

Responsible Financial Innovation Act Offers Clarity, Safeguards for Digital Assets - SEC and Securities

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Securities issues are covered in Title III (Responsible Securities Innovation) of the Responsible Financial Innovation Act (RFIA). The RFIA would add a new Section 41 to the Securities Exchange Act of 1934 (Securities...more

Snell & Wilmer

10 Key Points of the Lummis-Gillibrand Crypto Bill

Snell & Wilmer on

On June 7, Senator Cynthia Lummis (R-WY) and Senator Kirsten Gillibrand (D-NY) unveiled the long-awaited 69-page draft of the Lummis-Gillibrand Responsible Financial Innovation Act (“Act”). The Act is meant to create a...more

Pillsbury Winthrop Shaw Pittman LLP

A Long-Awaited Effort to Clarify Regulation of Digital Assets and Cryptocurrency—Unpacking the Biden Administration’s New...

The Biden Administration has launched a comprehensive effort to develop a cohesive policy approach for digital assets. Key agencies are instructed to report on digital asset issues and legal framework in relation to...more

Latham & Watkins LLP

New US Digital Assets Bill Casts Wide Net

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An ambitious proposal could bring digital assets into the mainstream regulatory fold. During an eventful summer for the digital assets industry, it may have been easy to miss US Representative Don Beyer’s introduction of the...more

King & Spalding

Not Your Standard Orange Grove: Non-Fungible Tokens & Securities Laws

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With offerings across a growing number of online platforms and increased trading volume, NFT issuers, promoters, and buyers should consider the legal and regulatory implications relating to NFTs and federal securities laws. ...more

Katten Muchin Rosenman LLP

Family Offices Receive Increased Regulatory Scrutiny

The recent defaults by Archegos caused several large broker-dealers to incur significant losses. Archegos represented that it operated as a single-family office, which made it exempt from many provisions of the federal...more

WilmerHale

COVID-19: The Virus Creates New Regulatory Priorities and Litigation Risks for Public Companies and Market Participants

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COVID-19 has had an unprecedented effect on the securities and derivatives markets. Public companies and market participants face significant operational challenges and unpredictability, including evolving and novel...more

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