News & Analysis as of September 22, 2024

Financial Industry Regulatory Authority (FINRA)

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Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency. less -

FINRA Is Conducting a Targeted Exam of “Crypto Assets”

Faegre Drinker Biddle & Reath LLP on 12/6/2022

Riding the coattails of recent news, FINRA announced on November 14th that it is conducting a targeted exam of firm practices regarding retail communications concerning “Crypto Asset” products and services....more

FINRA Issues Guidance Encouraging Firms To Prepare for Forthcoming Anti-Money Laundering Rules

Skadden, Arps, Slate, Meagher & Flom LLP on 10/19/2021

On October 8, 2021, the Financial Industry Regulatory Authority (FINRA) issued a Regulatory Notice urging its member firms (i.e., broker-dealers) to consider how they will incorporate the U.S. Treasury Department’s...more

SEC Issues Guidance for Broker-Dealer Custody of Digital Assets

Latham & Watkins LLP on 1/13/2021

In a year-end change of course, the SEC identified the minimum steps that broker-dealers must take when acting as custodians of digital asset securities. On December 23, 2020, the US Securities and Exchange Commission (SEC)...more

Why Is FINRA So Interested In Your Non-Securities Business?

UB Greensfelder LLP on 7/24/2019

Rightly or wrongly, I don’t know much about cryptocurrencies or digital coins. But that’s ok. What is worrisome, on the other hand, is that I am increasingly concerned that FINRA doesn’t either. And while my own ignorance...more

Corporate & Financial Weekly Digest, Featuring Articles on New FINRA Guidance on Public Offering Review Process, Final Results of...

Katten Muchin Rosenman LLP on 7/22/2019

BROKER-DEALER - FINRA Publishes Notice to Members Encouraging Continued Disclosure of Digital Assets Activities – On July 18, the Financial Industry Regulatory Authority (FINRA) published Regulatory Notice 19-24...more

Corporate & Financial Weekly Digest, Featuring Articles on the Latest Guidance From FINRA and the CFTC, and an FCA Paper...

Katten Muchin Rosenman LLP on 7/15/2019

BROKER-DEALER - Division of Trading and Markets and FINRA Staffs Issue Joint Statement on Broker-Dealer Custody of Digital Asset Securities - On July 8, in response to questions raised by market participants regarding...more

Bridging the Weeks - June 2019

Katten Muchin Rosenman LLP on 6/11/2019

Last week, a Canada-based social media company was sued by the Securities and Exchange Commission for purportedly conducting an unregistered securities offering to United States persons in connection with an initial coin...more

A Taxonomy of the Proposed Token Taxonomy Act

Proskauer - Blockchain and the Law on 3/1/2019

On December 20, 2018, a bipartisan pair of Congressmen, Warren Davidson (R-OH) and Darren Soto (D-FL), introduced bill H.R. 7356 to enact the Token Taxonomy Act (the “Act”). The Act proposes several amendments to federal...more

Blockchain Week in Review - January 2019 #4

Perkins Coie on 2/5/2019

Cboe Withdraws and Then Submits a Proposed Rulemaking for a Bitcoin ETF - On January 22, 2019, Cboe BZX Exchange (Cboe) withdrew its proposed rulemaking with the U.S. Securities and Exchange Commission (SEC). Had the...more

Increased SEC Enforcement Action and Litigation In the Cryptocurrency Space

Akin Gump Strauss Hauer & Feld LLP on 9/19/2018

As the U.S. Securities and Exchange Commission (SEC) stated previously, it is continuing to scrutinize and commence enforcement actions against companies, advisors and investors involved in the offering of cryptocurrencies...more

Enforcing the Regulatory Landscape for Virtual Currencies: Recent Developments

McDermott Will & Emery on 9/19/2018

US regulators have stepped up their activity in terms of enforcing the regulation of virtual currencies and on September 11, 2018, issued four relevant decisions: FINRA’s first disciplinary action involving cryptocurrencies;...more

Investment Services Regulatory Update - August 2018

Vedder Price on 8/21/2018

New Rules, Proposed Rules, Guidance and Alerts – SEC STAFF GUIDANCE AND ALERTS – OCIE Publishes Risk Alert on Compliance Issues Relating to Best Execution – On July 11, 2018, the Office of Compliance Inspections and...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 1/10/2018

AT&T has dropped plans to sell the Mate 10—the newest smartphone from China’s Huawei Technologies—just before the partnership was to be announced. AT&T gave no reasons for its abrupt reversal, but lawmakers have recently...more

Back to the Future: 2017 [Expect Focus Life Insurance – December 2016]

Carlton Fields on 1/9/2017

- Should Your Company Purchase Bitcoin to Pay a Cyber Ransom? - NAIC Draws Line in CFPB Sandbox - NAIC’s Big Data Task Force Sets Charges for 2017 - Broker-Dealers Can Hold Customers’ Initial Checks ...more

Bridging the Week - August 2015 #2

Katten Muchin Rosenman LLP on 8/11/2015

ESMA Says “No for Now” to Granting Passport Rights to US Fund Managers Under AIFMD - The European Securities and Markets Authority told the European Commission last week that it was premature to grant passport rights to...more

Bridging the Week - August 2015

Katten Muchin Rosenman LLP on 8/4/2015

ESMA Says “No for Now” to Granting Passport Rights to US Fund Managers Under AIFMD: The European Securities and Markets Authority told the European Commission last week that it was premature to grant passport rights to...more

Financial Services Weekly News Roundup - June 2015

Goodwin on 6/4/2015

Regulatory Developments: Superintendent Lawsky Announces Final BitLicense Regulations - New York State Department of Financial Services (NYDFS) Superintendent Benjamin Lawsky, at the BITS Emerging Payments Forum,...more

Corporate & Financial Weekly Digest - Volume X, Issue 19

Katten Muchin Rosenman LLP on 5/18/2015

In This Issue: - FINRA's NAC Strengthens Sanction Guidelines Related to Fraud and Suitability - CFTC Revises Interpretation on Forward Contracts with Embedded Volumetric Optionality - CFTC Requests Public...more

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Virtual Currency › Broker-Dealer › Financial Industry Regulatory Authority (FINRA)

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