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Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Dow closed above 26k yesterday for the first time on what some are dubbing the FOMO rally or the “melt-up” market....more

Financial Services Weekly News - January 2018 #2

by Goodwin on

Editor's Note - In This Issue. The Consumer Financial Protection Bureau (CFPB) announced that it would take another pass at the “Payday, Vehicle Title, and Certain High-Cost Installment Loans” (Payday Rule); the Financial...more

Another Hitch in the Crypto Boom? North Korean Malware Hijacks Computers to Mine Monero Cryptocurrency

Researchers at cybersecurity firm AlienVault have discovered a computer virus of North Korean origin which infects and hijacks computers in order to mine Monero, a private digital currency which styles itself as “secure,...more

Patent Strategies for Cryptocurrencies and Blockchain Technology

Cryptocurrencies and blockchain technology are rapidly emerging as disruptive technologies. As has happened with many new technologies, particularly disruptive ones, a patent arms race is occurring. The number of patents...more

Commodity Futures Trading Commission Discusses Approach to Virtual Currency Futures Markets

by Shearman & Sterling LLP on

The Commodity Futures Trading Commission has released a backgrounder on the federal oversight of virtual currencies and its approach to regulating the virtual currency derivatives markets. Because virtual currencies have been...more

Day 17 of 31 Days to a More Effective Compliance Program-Managing Your Third Parties

by Thomas Fox on

The building blocks of any compliance program lay the foundations for a best practices compliance program. For instance, in the lifecycle management of third parties, most compliance practitioners understand the need for a...more

Window on Washington - Vol. 2, Issue 2

by Clark Hill PLC on

Shutdown Watch: 4 Days. The government will run out of money on Friday if it does not pass another short-term spending bill. Last week it looked like Congress was close to negotiating a short-term continuing resolution that...more

Legal Issues Business Leaders Need to Know in 2018

by Arnall Golden Gregory LLP on

In recent years, the CFPB has struck fear into the C-suites of financial services companies. The agency was extraordinarily active in rulemaking that addresses every aspect of lending, prepaid cards and arbitration clauses in...more

Countdown to the First Annual New York DFS Cyber Regulation Certification

On February 15th, organizations subject to the New York Department of Financial Services Cybersecurity Regulation are required to submit their first annual certification attesting to their compliance with the state’s new data...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

More trouble for the embattled British PM Theresa May. We learned yesterday that Britain’s second-largest construction firm—Carillion—was forced into liquidation after amassing a staggering $1.35 billion in debt. The downfall...more

Compliance Man Goes Global - Episode 8: Tough Questions

by Thomas Fox on

Welcome to Episode 8 of Compliance Man Goes Global podcast of FCPA Compliance Report International Edition. In this episode, we will focus on tough questions, which Compliance officers need to address. We will explore this...more

Day 16 of 31 Days to a More Effective Compliance Program-the Third-Party Risk Management Process

by Thomas Fox on

As every compliance practitioner is well aware, third parties still present the highest risk under the Foreign Corrupt Practices Act (FCPA). The Department of Justice Evaluation of Corporate Compliance Programs devotes an...more

Regulators Continue to Scrutinize Initial Coin Offerings

by Carlton Fields on

As reported in the most recent issue of Expect Focus, the SEC issued an investigative report in July cautioning market participants that distributed ledger (blockchain) technology-based offers and sales of digital "tokens" or...more

Singapore Legal Update - January 2018

by Allen & Overy LLP on

Code on Collective Investment Schemes Amended - The MAS has amended the Code on Collective Investment Schemes. Most of the amendments took effect on 1 January 2018. The changes provide for increased disclosures for funds...more

Day 15 of 31 Days to a More Effective Compliance Program-How Do You Evaluate a Risk Assessment?

by Thomas Fox on

After you complete your risk assessment, you must then translate it into a risk profile, as Rick Messick has noted, to estimate where bribery is likely occur, so prevention efforts will be properly targeted. Ben Locwin...more

Day 14 of 31 Days to a More Effective Compliance Program- Risk Assessments

by Thomas Fox on

One cannot really say enough about risk assessments in the context of an anti-corruption program. Since at least 1999, in the Metcalf & Eddy enforcement action, the DOJ has said that a risk assessment, which measures the...more

Day 13 of 31 Days to a More Effective Compliance Program

by Thomas Fox on

In the Department of Justice’s Evaluation of Corporate Compliance Programs, Prong 8 Incentive and Disciplinary Measures it states: Incentive System – Consistent Application – Have the disciplinary actions and incentives been...more

Fintech Companies and Bank Charters: Options and Considerations for 2018

by White & Case LLP on

Fintech companies focused on payments or lending activities continue to seek solutions to minimize barriers to entry presented by myriad and disparate state licensing requirements. These efforts have given rise to numerous...more

More Of An SRO - FINRA Unveils Its Priorities For 2018

On January 8 the Financial Industry Regulatory Authority (FINRA) published its Annual Regulatory and Examination Priorities Letter, which highlights key areas of focus for FINRA in the coming year. ...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Times explores the $27 billion in fixed-income-trading income that has seeped out of Wall Street over the past 5 years thanks to “a combination of tough regulations, new technologies, calm markets and changing customer...more

Chris Lazarini Comments on Qualifiers of Control Person Liability under Exchange Act §20(a)

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini commented on a case involving alleged violations of federal and state securities laws and state common law in an alleged scheme to defraud customers and investors in several...more

Orrick's Financial Industry Week In Review

Chairman Giancarlo Statement on Virtual Currencies - On January 4, 2018, the Commodity Futures Trading Commission (CFTC) Chairman, J. Christopher Giancarlo, issued a statement on virtual currencies. "The CFTC's Market Risk...more

Initial Coin Offerings and Cryptocurrencies Will be a Priority for FINRA in 2018

In a ten page letter that previews the Financial Industry Regulatory Authority’s (FINRA) priorities for 2018, initial coin offerings (ICOs) and transactions involving cryptocurrencies....more

Key Regulatory Topics: Weekly Update - 22 December 2017 – 4 January 2018

by Allen & Overy LLP on

BREXIT - FMLC paper on Brexit and impact of WTO rules on financial services - On 22 December 2017, the FMLC published a paper on the potential impact of Brexit and WTO rules on financial services. The paper focuses on...more

Day 12 of 31 Days to a More Effective Compliance Program-Financial Incentives for Compliance

by Thomas Fox on

One of the areas that many companies have not paid as much attention to in their compliance programs is compensation. However, the DOJ and SEC have long made clear that they view monetary structure for compensation, rewarding...more

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