News & Analysis as of September 24, 2024

Dodd-Frank Wall Street Reform and Consumer Protection Act

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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 -

Whistleblowers Key to Combating Cryptocurrency Fraud

Kohn, Kohn & Colapinto LLP on 12/9/2021

In September 2021, the market capitalization for digital assets, such as cryptocurrencies and NFTs, was valued at $2.14 trillion. The cryptocurrency market has attracted a variety of fraudulent activities in which the...more

Biden Administration Faces Last-Ditch Efforts by the Trump Administration to Curb the Digital Assets Industry

Pillsbury Winthrop Shaw Pittman LLP on 1/25/2021

The incoming Biden team will need to quickly address significant digital asset issues, including a major enforcement action and a significant proposed FinCEN rule initiated in the final days of the outgoing administration. ...more

Financial Services Weekly: Amendments To SEC Proxy Solicitation Rules Approved By A 3-1 Vote

Goodwin on 8/3/2020

In This Issue. The Securities and Exchange Commission (SEC) finalized amendments to its proxy solicitation rules that will modify the practices of proxy advisory firms, providing them with greater transparency and...more

Part 2: CFTC Finalizes Guidance on Digital Assets in the Context of Retail Commodity Transactions

Perkins Coie on 5/4/2020

The Regulation of Retail Commodity Transactions—History and Background - On March 24, 2020, the U.S. Commodity Futures Trading Commission (the Commission or the CFTC) finalized long-awaited interpretive guidance regarding...more

CFTC Finalizes Guidance on Digital Assets in the Context of Retail Commodity Transactions

Perkins Coie on 5/1/2020

On March 24, 2020, the U.S. Commodity Futures Trading Commission (the Commission or the CFTC) finalized long-awaited interpretive guidance regarding what constitutes the “actual delivery” of a digital asset in the context of...more

Financial Markets and Funds - A New Captain at the Helm: The CFTC’s 16-Month Regulatory and Enforcement Agenda Under Chairman...

Katten Muchin Rosenman LLP on 10/9/2019

Katten recently hosted the "CFTC Regulatory and Enforcement Agenda" webinar. Financial Markets and Funds partners Kevin Foley, Christian Kemnitz and Carl Kennedy, and special counsel Gary DeWaal, discussed the potential CFTC...more

Bridging the Weeks - July 2019 #5

Katten Muchin Rosenman LLP on 7/30/2019

A federal appellate court in California issued a decision effectively ratifying the Commodity Futures Trading Commission’s expansive view of its authority to bring enforcement actions addressing a diverse range of purported...more

2018 CFTC Year-In-Review

WilmerHale on 2/4/2019

For the Commodity Futures Trading Commission (CFTC or Commission), 2018 was characterized by (1) an active enforcement program emphasizing cooperation and self-reporting, (2) increasing cross-border tension over supervision...more

Bridging the Week - November 2018 #3

Katten Muchin Rosenman LLP on 11/20/2018

The Commodity Futures Trading Commission’s Division of Enforcement issued its annual report last week; it said the purpose of its enforcement program was to engender a “true culture of compliance.” The Division suggested the...more

Financial Services Weekly Roundup - October 2018 #2

Goodwin on 10/18/2018

Editor's Note - In This Issue. The Securities and Exchange Commission (SEC) granted no-action relief for fund boards; the Financial Stability Oversight Council (FSOC) announced the rescission of the “systemically important...more

CFTC and SEC Approve Revised Memorandum of Understanding on Information Sharing

Skadden, Arps, Slate, Meagher & Flom LLP on 7/10/2018

On June 29, 2018, the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC, and together the Commissions) announced that the Commissions approved a memorandum of understanding...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 3/9/2018

Looking Out for Main Street: SEC Focuses on Retail, Cybersecurity and Cryptocurrency - The Commissioners and senior officials of the Securities and Exchange Commission ("SEC" or "Commission") addressed the public on...more

CFTC Extends Its Reach to Potentially Include Initial Coin Offerings

Troutman Pepper on 10/19/2017

The Commodity Futures Trading Commission (CFTC) has now made it clear that, in its view, certain initial coin offerings (ICOs) within the United States or affecting U.S. residents may be within its jurisdiction. On October...more

Blockchain Week in Review - June 2017 #5

Perkins Coie on 6/14/2017

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

Your Daily Dose of Financial News

Robins Kaplan LLP on 3/7/2017

The SEC is set to decide this week whether to okay a new ETF that could provide investors easier access to bitcoin, a potentially transformative move for the virtual currency....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

Key Takeaways from SEC/DOJ Enforcement Panel

Proskauer - Corporate Defense and Disputes on 5/25/2016

Last week, representatives of the U.S. Securities and Exchange Commission (“SEC”) and the U.S. Department of Justice (“DOJ”) participated in Sandpiper Partners LLC’s Annual SEC/DOJ Enforcement 2016 Panel at the Metropolitan...more

Corporate Investigations & White Collar Defense - October 2015

Manatt, Phelps & Phillips, LLP on 10/23/2015

"Wherefore Art Thou Due Process?" Part III - Why it matters: It is time for another installment in our continuing "Wherefore Art Thou Due Process?" coverage into the ongoing constitutional challenges to the SEC's...more

Financial Services Weekly News - September 2015 #4

Goodwin on 9/24/2015

Regulatory Developments - NYDFS Announces Approval of First BitLicense Application from a Virtual Currency Firm: The New York State Department of Financial Services (NYDFS) announced Sept. 22 that it has approved...more

SEC Says Fantasy Stock Trading Violates Securities Laws; Charges Others for Selling Illegal Security-Based Swaps

Stinson - Corporate & Securities Law Blog on 6/18/2015

The SEC issued an Investor Alert which says fantasy stock trading for small amounts of money can violate provisions of securities laws implemented by the Dodd-Frank Act. I bet the Congressional drafters of these provisions...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

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