The U.S. Securities and Exchange Commission (the SEC or the Commission) voted on Friday, April 14, 2023, to reopen the comment period for previously proposed amendments to Rule 3b-16 under the Exchange Act of 1934 (the...more
5/17/2023
/ Broker-Dealer ,
Comment Period ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Proposed Amendments ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Regulation ,
Sellers ,
Trading Platforms
On March 1, 2023, the U.S. Department of Justice (DOJ) unsealed an indictment against the CEO of a publicly traded healthcare company (the Executive) relating to charges of an insider trading scheme. The indictment represents...more
3/10/2023
/ 10b5-1 Plans ,
Broker-Dealer ,
Corporate Executives ,
Corporate Governance ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
Fraud ,
Insider Trading ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC)
The staff (“Staff”) of the Division of Trading and Markets of the U.S. Securities and Exchange Commission (SEC) issued a no-action letter (NAL) at the request of the Financial Industry Regulatory Authority (FINRA) on...more
The U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) made several regulatory announcements this summer relating to cybersecurity, artificial intelligence (AI), and digital...more
U.S. Developments -
Federal and State Regulatory Developments -
Bill in Hawaii State Senate Addresses Digital Assets Including Authorization for Banks to Serve as Qualified Custodians -
SB 2594 before the Hawaii...more
1/29/2020
/ Amicus Briefs ,
Anti-Fraud Provisions ,
Bitcoin ,
Blockchain ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Financial Institutions ,
FinTech ,
International Tax Issues ,
Japan ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Uniform Commercial Code (UCC) ,
Unregistered Securities ,
Virtual Currency
The staffs of the Division of Trading and Markets (Division) of the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) (collectively, the “Regulators”) published a joint...more
7/18/2019
/ Books & Records ,
Broker-Dealer ,
Customer Protection Rule ,
Digital Assets ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Initial Coin Offering (ICOs) ,
Investment Management ,
Joint Statements ,
Over The Counter Derivatives (OTC) ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
SIPA
On Wednesday, December 12, 2018, the D.C. Bar hosted a panel to discuss current developments in the world of crypto. Among the panelists were two senior SEC officers: Jonathan Ingram, Deputy Chief Counsel, Division of...more
1/14/2019
/ CFTC ,
Corporate Issuers ,
Cryptocurrency ,
Digital Assets ,
Division of Corporate Finance ,
Enforcement Actions ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Self-Reporting ,
Token Sales
In a flurry of enforcement activity in the digital asset space, the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization for broker-dealers,...more
10/8/2018
/ Blockchain ,
Broker-Dealer ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Initial Coin Offering (ICOs) ,
Investment Adviser ,
Investment Companies ,
Investment Company Act of 1940 ,
Popular ,
Regulation D ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Unregistered Securities
The following update is on our Fintech Legal Report:
FINRA Issues a Regulatory Notice for Firms to Let FINRA Know About Digital Asset Activities -
U.S. Developments -
Regulatory Updates -
Vermont Enacts...more
7/16/2018
/ Bitcoin ,
Blockchain ,
Cryptocurrency ,
Dear Colleague Letter ,
Department of Justice (DOJ) ,
Digital Assets ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
FinTech ,
Governor Scott ,
India ,
Initial Coin Offering (ICOs) ,
Limited Liability Company (LLC) ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
UK ,
Virtual Currency
During a speech in San Francisco last week at the Yahoo Finance All Markets Summit, William Hinman, Director of the Division of Corporation Finance of the Securities and Exchange Commission (SEC), provided some welcome...more
6/25/2018
/ Bitcoin ,
Certificate of Deposit ,
Cryptocurrency ,
Digital Assets ,
Ether ,
Howey ,
Initial Coin Offering (ICOs) ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Investment Contract ,
Investors ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Token Sales