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Is The SEC Moving Towards A Ban On ICOs?

A new enforcement initiative by the Securities and Exchange Commission, part of its proclaimed efforts to address cyber-based threats and protect retail investors, indicates that the agency is including Initial Coin...more

ICOs Facing An Uncertain Future

This week, in a joint statement issued by the People’s Bank of China, the securities and banking regulators, and other government agencies, the Chinese government declared that initial coin offerings (ICOs) constitute...more

ICOs: Proceed With Caution

Yesterday, the Securities and Exchange Commission (“SEC”) issued an investor bulletin and an investigative report. The investigative report found that companies involved in sales of digital assets via distributed ledger or...more

Why Banning Criminals From The Web Doesn’t Work

A few weeks ago, the Supreme Court issued a unanimous ruling in Packingham v. North Carolina, 137 S. Ct. 1730 (U.S. 2017) invalidating a state law outlawing registered sex offenders from accessing websites which could...more

Fantasy Golf: A Hole in One

The Masters golf tournament had quite an exciting finish this year and it also was a successful tournament for Daily Fantasy Sports (DFS) operators. As reported by Dustin Gouker: “The Masters marked the unofficial start to...more

4/24/2017  /  DraftKings , Fantasy Sports

Will Clemency Continue?

There are many big policy changes happening in Washington these days and they receive appropriate press coverage. But, there are also many smaller changes that can have literally life changing effects on citizens, which are...more

Coalition Building to Combat Unlicensed Internet Gaming Sites

The NJ Division of Gaming Enforcement (DGE) regulates various licensees that provide services to the online gaming industry within the state. The agency recently demonstrated its power of regulatory enforcement over the...more

A Bank is a Bank

Do you remember when I wrote about how a federal district court had ruled that an online poker account was akin to a bank account and should therefore be subject to FBAR reporting? It seemed nonsense to me at the...more

How the Gray Bill Tries to Keep Out Bad Actors

The iGaming world is excited about Assembly Bill 2863—better known as the Gray bill because of lead sponsor Adam Gray—which would legalize and regulate intrastate online poker in California. A few weeks ago, the bill...more

Online Poker: A New Way to Bank?

In light of Tax Day (note that it’s on the 18th of April this year due to a holiday on the 15th) we want to point out a curious ramification from a federal case concerning online gambling, tax reports, and foreign...more

Amazon Pursued Fake Reviews In 2015, What Will It Pursue In 2016?

In 2015, Amazon filed suit against over 1,000 unnamed individuals for allegedly offering to sell fake online reviews (positive or negative) on Fiverr.com (“Fiverr”). The unnamed defendants offer to provide 5-star reviews and...more

The Hidden Regulatory and Licensing Consequences to a Conviction or Arrest

One such set of consequences is unique to contractors who do business with federal or state governments. Because even a plea to a criminal conviction represents a person’s affirmative statement of the underlying facts, that...more

Collateral Damage: Criminal Convictions and the Lasting Consequences

Prosecutors and often even judges do not appreciate the collateral consequences of a criminal conviction, regardless of whether it results from a trial or a plea agreement. While the direct consequences of conviction are...more

NY Legalizing Medical Marijuana with the Compassionate Care Act

Severely ill patients in New York State are celebrating Gov. Andrew Cuomo’s signature of a bill that legalized medical marijuana in New York for many severely ill patients[1]. As noted by Assembly Speaker Silver in his...more

SEC Takes Proactive Approach to Cybersecurity

Last month, the Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) formally announced its cybersecurity initiative in a Risk Alert. The initiative followed up on OCIE’s...more

Banks Shy Away From Processing Marijuana Transactions in Colorado – Will Anyone Step Up?

Last Friday, the Department of Justice (DOJ) and the Department of Treasury, Financial Crimes Enforcement Network (FinCen), both published new guidance in connection with the legalization of recreational marijuana in...more

2/24/2014  /  Banks , DOJ , FinCEN , Marijuana

First Glance: Obama Administration's Marijuana Guidelines 'Cold Comfort' For Banks

As long as possession of marihuana remains a federal crime, banks won't touch those businesses with a ten foot pole....more

Wild, Wild West: The Legalization of Marijuana Brings Lots Of Regulatory Concerns

The beginning of 2014 has brought many new laws into effect and we have written on a number of them. But few laws have received more mainstream media exposure than Colorado’s legalization of recreational marijuana. Of more...more

How to Break the Federal Debt-Collection Law — By Texting

It’s quite clear that the Federal Trade Commission and the Federal Communications Commission view existing federal consumer protection and communications statutes as fully applicable to new modes of communication such as...more

10/7/2013  /  Debt , Debt Collection , FCC , FTC , Settlement , Texting
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