Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
2/15/2024
/ Banking Sector ,
CFTC ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
UK
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
10/24/2023
/ CFTC ,
Corporate Transparency Act ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Diversity and Inclusion Standards (D&I) ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FinCEN ,
Securities and Exchange Commission (SEC) ,
UK
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
7/28/2023
/ CFTC ,
Cybersecurity ,
Data Privacy ,
Digital Currency ,
EU-US Privacy Shield ,
European Commission ,
Executive Compensation ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
Proxy Voting Guidelines ,
Securities and Exchange Commission (SEC) ,
UK
Daniel Davis Shares Views on Digital Asset Regulation During House Subcommittee Hearing -
In testimony before the US House of Representatives Subcommittee on Commodity Markets, Digital Assets, and Rural Development, Daniel...more
5/31/2023
/ Biden Administration ,
Bitcoin ,
Cryptoassets ,
Cryptocurrency ,
Environmental Social & Governance (ESG) ,
European Parliament ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
New York ,
Non-Fungible Tokens (NFTs) ,
Privacy Laws ,
Securities and Exchange Commission (SEC) ,
State Privacy Laws ,
UK
Last week, financial services firms and regulators worldwide continued to anticipate and try to mitigate potential issues related to the expected increase in remote working in light of the COVID-19 pandemic. Unrelatedly, the...more
Last week, international regulators began issuing guidance and/or relief to impacted firms in response to the spread of COVID-19. The impact of this novel coronavirus has already begun materially to affect operations and...more
3/10/2020
/ Anti-Money Laundering ,
Business Continuity Plans ,
Centers for Disease Control and Prevention (CDC) ,
CFTC ,
Coronavirus/COVID-19 ,
Emergency Response ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Markets ,
Financial Services Industry ,
FinCEN ,
Infectious Diseases ,
National Futures Association ,
Securities and Exchange Commission (SEC) ,
Supreme Court of India ,
Suspicious Activity Reports (SARs)
A non-US-based investment and brokerage firm agreed to settle spoofing allegations by the Commodity Futures Trading Commission by payment of a US $700,000 fine. In accepting this settlement, the CFTC emphasized the...more
1/22/2020
/ Annual Reports ,
CFTC ,
Chief Compliance Officers ,
Cooperation ,
Cryptoassets ,
Dubai ,
Enforcement Actions ,
Enforcement Statistics ,
Financial Conduct Authority (FCA) ,
Market Manipulation ,
National Futures Association ,
Securities and Exchange Commission (SEC) ,
Self-Reporting ,
Spoofing ,
Virtual Currency
A broker-dealer and its chief executive officer settled charges brought in 2017 by the Securities and Exchange Commission that the firm facilitated manipulative conduct by a customer, despite being alerted by regulators and...more
10/15/2019
/ Bitcoin ,
Broker-Dealer ,
CFTC ,
Civil Monetary Penalty ,
Derivatives ,
Enforcement Actions ,
Enforcement Guidance ,
ETFs ,
Ether ,
Executive Orders ,
Financial Conduct Authority (FCA) ,
Gag Orders ,
IRS ,
Misappropriation ,
National Futures Association ,
Price Manipulation ,
Respondeat Superior ,
Securities and Exchange Commission (SEC) ,
Spoofing ,
Virtual Currency ,
Wash Sale Rules
Last week a Canada-based social media company answered charges filed against it by the Securities and Exchange Commission in June 2019 that alleged its 2017 initial sale of digital tokens constituted an unlawful securities...more
8/13/2019
/ Bitcoin ,
Blockchain ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Initial Coin Offering (ICOs) ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
UK ,
Virtual Currency
Both the Commodity Futures Trading Commission and the Chicago Mercantile Exchange brought and settled charges against a CFTC-registered floor broker, claiming he engaged in spoofing trading activity on the CME. The two...more
8/6/2019
/ Anti-Money Laundering ,
Broker-Dealer ,
CFTC ,
Cryptoassets ,
Cybersecurity ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
Final Guidance ,
Financial Conduct Authority (FCA) ,
Insider Trading ,
Safe Harbors ,
Securities and Exchange Commission (SEC) ,
Spoofing ,
UK
The United Kingdom’s Financial Conduct Authority proposed to ban the marketing and sale in or from the UK to retail persons of derivatives and exchange-traded notes based on cryptocurrencies and utility digital tokens,...more
7/9/2019
/ Bitcoin ,
Blockchain ,
CFTC ,
Cryptoassets ,
Cryptocurrency ,
Derivatives ,
Distributed Ledger Technology (DLT) ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Hong Kong ,
Margin Requirements ,
Securities and Exchange Commission (SEC) ,
Spoofing ,
Token Sales ,
Utility Tokens ,
Virtual Currency
The watchdog arm of the Securities and Exchange Commission – the Office of Compliance Inspections and Examinations – issued a Risk Alert summarizing breakdowns in compliance by broker-dealers and investment advisers of their...more
4/23/2019
/ Broker-Dealer ,
CFTC ,
Consumer Privacy Rights ,
Cybersecurity ,
Data Protection ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
Multinationals ,
OCIE ,
Personally Identifiable Information ,
Policies and Procedures ,
Regulation S-ID ,
Regulation S-P ,
Risk Alert ,
Securities and Exchange Commission (SEC)
The New York State Department of Financial Services cancelled the temporary authority of a major cryptocurrency exchange to operate in New York, saying its failure to meet anti-money laundering, AML compliance officer quality...more
4/16/2019
/ Anti-Money Laundering ,
BitLicense ,
Capital Requirements ,
Cryptocurrency ,
Department of Financial Services ,
Department of Justice (DOJ) ,
Distributed Ledger Technology (DLT) ,
Financial Conduct Authority (FCA) ,
Money Transmitter ,
No-Action Letters ,
NYDFS ,
Proposed Legislation ,
Safe Harbors ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Virtual Currency
The Commodity Futures Trading Commission determined not to appeal a decision of a federal court that a well-known proprietary trading firm and its principal did not engage in manipulation or attempted manipulation as charged...more
The UK Financial Conduct Authority issued proposed guidance concluding that only security tokens among the three principal types of cryptoassets are under the regulator’s oversight umbrella. Cryptocurrencies and utility...more
1/29/2019
/ Bitcoin ,
Consultation ,
Cryptoassets ,
Cryptocurrency ,
ETFs ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Initial Coin Offering (ICOs) ,
Money Transmitter ,
SEC Examination Priorities ,
UK
During the prior two weeks, three financial authorities in the United Kingdom as well as the Hong Kong Securities and Futures Commission issued reports assessing distributed ledger technology and risks associated with the...more
11/5/2018
/ Accredited Investors ,
Bitcoin ,
Cryptoassets ,
Cryptocurrency ,
Derivatives ,
Enforcement ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Futures ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Initial Coin Offering (ICOs) ,
Prudential Regulation Authority (PRA) ,
Retail Investors ,
UK
An international bank settled an enforcement action brought by the Commodity Futures Trading Commission for spoofing. However, in the process, the CFTC went out of its way to laud the bank for self-reporting the incident, as...more
10/15/2018
/ Banks ,
Bitcoin ,
CFTC ,
Cooperation ,
Cryptocurrency ,
Cyber Attacks ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Self-Reporting ,
Spoofing ,
UK
SEC/CORPORATE -
SEC Division of Corporation Finance Issues C&DIs Regarding Notices of Exempt Solicitation -
On July 31, the staff of the Division of Corporation Finance (the Staff) of the Securities and Exchange...more
8/13/2018
/ Board of Directors ,
C&DIs ,
Corporate Governance ,
Derivatives Clearing Organizations ,
EU ,
Financial Conduct Authority (FCA) ,
MiFID II ,
MiFIR ,
National Futures Association ,
UK ,
UK Brexit ,
Virtual Currency
SEC Begins Proactively Suggesting Some Promoters Halt ICOs; the UK Financial Conduct Authority Joins Worldwide Regulators Saying that Digital Tokens Issued as Part of ICOs May Be Securities: Following the release of the...more
10/6/2017
/ Bitcoin ,
Cryptocurrency ,
Financial Conduct Authority (FCA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Initial Coin Offering (ICOs) ,
Investment Adviser ,
OCIE ,
Securities and Exchange Commission (SEC) ,
Spoofing ,
Token Sales ,
UK
SEC/CORPORATE -
SEC Expands Nonpublic Review of Draft Registration Statements -
On June 29, the Division of Corporation Finance (Division) of the Securities and Exchange Commission announced that, beginning on July 10,...more
7/10/2017
/ Bitcoin ,
CFTC ,
Consultation ,
Emerging Growth Companies ,
Financial Conduct Authority (FCA) ,
Initial Public Offering (IPO) ,
JOBS Act ,
MiFID II ,
NFA ,
No-Action Relief ,
Registration Statement ,
Securities and Exchange Commission (SEC) ,
SEFs ,
UK
Making Regulation Great Again: President Trump Requires Loss of Two Regulations for Every New One and Orders Review of All Financial Services Laws and Rules: Last week, through the issuance of two executive orders, President...more
2/7/2017
/ Anti-Money Laundering ,
Broker-Dealer ,
Deregulation ,
Designated Contract Markets (DCMs) ,
Deutsche Bank ,
Edward Jones ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Sanctions ,
SEFs ,
Trump Administration