The Securities and Exchange Commission (SEC) held an open meeting of its Investment Advisory Committee on June 6, 2024, which featured a panel to review the use of artificial intelligence in investment decision making....more
6/10/2024
/ Analytics ,
Artificial Intelligence ,
CFTC ,
Financial Services Industry ,
Innovative Technology ,
Investment ,
Investment Adviser ,
Investment Management ,
Machine Learning ,
Regulatory Agenda ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On May 15, 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted amendments to Regulation S-P (the “Data Privacy Amendments”), which were published in the Federal Register on June 3, 2024, starting the clock...more
After many iterations over the years attempting to regulate the cryptocurrency space, the House of Representatives passed the Financial Innovation and Technology for the 21st Century Act, or FIT21 Act, on May 22, 20241. The...more
6/4/2024
/ Blockchain ,
CFTC ,
Commodities ,
Cryptocurrency ,
Digital Assets ,
Financial Regulatory Reform ,
Investment ,
Pending Legislation ,
Popular ,
Regulatory Agenda ,
Regulatory Authority ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
The crypto industry secured a key victory in its court battles with the Securities and Exchange Commission (SEC or Commission) on Thursday, July 13, when Judge Analisa Torres of the U.S. District Court for the Southern...more
Sens. Cynthia Lummis (R. Wyo.) and Kristen Gillibrand (D. N.Y.) have reintroduced their landmark bipartisan crypto bill known as the Lummis-Gillibrand Responsible Financial Innovation Act (“Lummis-Gillibrand Act” or “LG...more
7/18/2023
/ Blockchain ,
CFTC ,
Commodity Exchange Act (CEA) ,
Cryptocurrency ,
Digital Assets ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Investment ,
Popular ,
Proposed Legislation ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
Payward Ventures, Inc., d/b/a Kraken, the cryptocurrency exchange, has entered into a $30 million settlement agreement with the U.S. Securities and Exchange Commission (SEC) over allegations the company failed to register its...more
On December 14, 2022, in its final meeting of the year, the Securities and Exchange Commission adopted final rules relating to Rule 10b5-1 trading plans....more
Following the recent filing of the SEC’s insider trading complaint against a former manager of Coinbase Global, Inc. (“Coinbase”), the SEC is now investigating Coinbase. As stated in Coinbase’s Form 10-Q quarterly report...more
In the long running question of whether cryptocurrency tokens are securities, the Securities and Exchange Commission (the “SEC”) has volleyed new claims against a former employee of Coinbase Global, Inc. (“Coinbase”),...more
The cryptocurrency and blockchain industry has developed over the past decade with a large and increasingly glaring void: What regulations ultimately will apply and who will regulate the space? Much regulatory focus to date...more
3/4/2022
/ Alternative Trading System (ATS) ,
Blockchain ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Financial Fraud ,
FinTech ,
Howey ,
Investment Contract ,
Money Laundering ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
With the recent explosion of blockchain technology and major companies pivoting their business models to realize the promise of a metaverse, tech innovators, entertainment and sports icons, and venture capitalists alike are...more
2/18/2022
/ Blockchain ,
Continuing Legal Education ,
Data Privacy ,
Data Protection ,
Data Security ,
Decentralized Finance (DeFi) ,
Gaming ,
Internet ,
Popular ,
Smart Contracts ,
Technology Sector ,
Tokenization ,
Webinars ,
Websites
The Infrastructure Investment and Jobs Act (the Act), H.R. 3684, commonly referred to as the infrastructure bill, was signed into law by President Biden on November 15, 2021. ...more
1/26/2022
/ Anti-Money Laundering ,
Biden Administration ,
Bitcoin ,
Blockchain ,
Brokers ,
Cryptoassets ,
Cryptocurrency ,
Digital Currency ,
Disclosure Requirements ,
Financial Instruments ,
Financial Services Industry ,
Financial Transactions ,
Infrastructure Investment and Jobs Act (IIJA) ,
Investment Opportunities
When Michael Hsu became acting U.S. Comptroller of the Currency earlier this month, banking industry experts predicted a shift away from the aggressive innovation pushed by fintech-friendly Brian Brooks, who resigned as the...more
Non-fungible tokens (NFTs) have been trending since the start of the year, and more companies and artists are getting involved with the latest blockchain innovation. Join us to dive deeper than the headlines as our presenters...more
5/7/2021
/ Artists ,
Blockchain ,
Continuing Legal Education ,
Entertainment Industry ,
Financial Services Industry ,
Internet Auctions ,
Investors ,
Non-Fungible Tokens (NFTs) ,
Smart Contracts ,
Token Sales ,
Tokenization ,
Webinars
It’s already been an epic year for blockchain, and it’s only March. As blockchain technology and digital currency companies are dominating today’s headlines, and more traditional companies get involved, what’s next for this...more
3/17/2021
/ Blockchain ,
Capital Raising ,
Continuing Legal Education ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Currency ,
Entertainment Industry ,
Financial Institutions ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Financial Transactions ,
Investment Management ,
Investors ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Startups ,
Tangible Property ,
Tokenization ,
Webinars
As we prepare to put 2020 in the rearview mirror, many of us will not have fond memories of the year. Quarantines, masks, social distancing, unspeakable tragedy, economic ruin for some industries. But the fintech world proved...more
1/7/2021
/ Banking Sector ,
Blockchain ,
Cryptocurrency ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Lenders ,
Madden v Midland Funding ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securitization
In its Final Rule issued on August 26, 2020, a divided Securities and Exchange Commission (SEC) expanded the group of individuals and entities permitted to invest in private securities by amending the definitions of...more
Following ongoing efforts to promote the expansiveness of the national bank charter, on July 22, 2020, the Office of the Comptroller of the Currency (OCC) issued an interpretive letter confirming the authority of a national...more
8/6/2020
/ Banking Regulators ,
Banking Sector ,
Cryptocurrency ,
Digital Currency ,
Financial Markets ,
Financial Regulatory Reform ,
FinTech ,
Internal Controls ,
Interpretive Letters ,
National Bank Charters ,
OCC
On the heels of finalizing its Madden-fix rule, the Office of the Comptroller of the Currency (OCC) on July 20, 2020, issued a proposed regulation to address bank-partnership uncertainty arising from the so-called true lender...more
7/28/2020
/ Consumer Financial Products ,
Consumer Protection Laws ,
FDIC ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Madden v Midland Funding ,
OCC ,
Regulatory Standards ,
True Lender
Last year, a group of state attorneys general (AGs) filed suit against the Securities and Exchange Commission (SEC), challenging the agency’s Regulation BI (Best Interest), enacted in June 2019. Regulation Best Interest...more
7/7/2020
/ Broker-Dealer ,
Dodd-Frank ,
Fiduciary Duty ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Regulation Best Interest ,
Regulation BI ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Standard of Conduct ,
State Attorneys General
On May 20, 2020, the U.S. Court of Appeals for the Seventh Circuit sided with a lower court which invalidated applying the “Ineligibility Rule” by the Small Business Administration (SBA) to the Paycheck Protection Program...more
On May 29, 2020, the Office of the Comptroller of the Currency (OCC) issued its final rule affirming the “valid when made” doctrine for national banks and federal savings associations. Adopted as proposed, the final rule...more
On May 15, 2020, the Small Business Administration (SBA) published a form of the loan forgiveness application for borrowers of Paycheck Protection Program (PPP) loans under the CARES Act. The application provides instructions...more
Highlights:
- Program reauthorized for $310 billion and intended to be more widely distributed
- Bad news for venture capital and private equity
- Good news for hospitals and gaming
- Renewed focus on the...more
In one of two closely watched New York class actions asserting usury claims against national bank securitization vehicles based on the Second Circuit’s decision in Madden v. Midland Funding, 786 F.3d 246 (2d Cir. 2015), a...more
2/27/2020
/ Capital Markets ,
Class Action ,
Financial Services Industry ,
Madden v Midland Funding ,
Market Participants ,
Motion to Dismiss ,
National Bank Act ,
Preemption ,
Proposed Regulation ,
Securitization Vehicles ,
Usury