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Finance & Banking Securities

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Cryptocurrencies and ICOs: Key Market, Legal, and Regulatory Developments

Texas Judge Issues Preliminary Injunction Against Dubai-Based Officer of Allegedly Fraudulent Cryptocurrency Offering - Earlier this year, the United States District Court for the Northern District of Texas entered an ex...more

Fifth Circuit Court of Appeals Vacates DOL Fiduciary Rule

On March 15, 2018, the U.S. Court of Appeals for the Fifth Circuit ruled, in a 2-to-1 decision, that the U.S. Department of Labor (DOL) abused its authority and acted unreasonably in promulgating its 2016 fiduciary rule and...more

Why would you be affiliated with that?

by Ary Rosenbaum on

As discussed in my newest book, “The Greatest 401(k) Book Sequel Ever”, I’m still amazed at my interaction with “renowned” ERISA fiduciary expert turned convicted thief Matt Hutcheson. It’s no a great episode in my career...more

SEC Subpoenas Signal Heightened Cryptocurrency Focus

by Holland & Hart LLP on

Escalating its regulatory scrutiny of initial coin offerings (“ICOs”), the U.S. Securities and Exchange Commission (the “SEC”) has recently issued subpoenas to a reported 80 or more firms involved in the burgeoning industry...more

Big Data and the Risks of Insider Trading

In the perennial quest for alpha, investment managers have turned increasingly to big and alternative data for market insights. The most prominent consumers of this data on Wall Street are managers of ‘‘quant’’ funds, which...more

First Securities Lending Transaction Using Blockchain Technology Completed

It was reported this month that ING Groep NV and a major international bank recently completed the first live securities lending transaction settled using distributed ledger technology (“DLT”). The transaction involved the...more

Banks vs. Private Lenders: The Basics of Financing Options for Small Businesses

by Pessin Katz Law, P.A. on

Most small business owners will, at some point in the lifespan of their businesses, need to obtain financing in order to get their business off the ground or expand. This article summarizes the basics of obtaining financing...more

FINRA Explores Options Aimed at Encouraging the Payment of Arbitration Awards and Settlements

by Bryan Cave on

Key Takeaways - ..While typically there is a relatively small portion of FINRA customer cases that proceed to an award of damages, approximately one out of every four damage awards goes unpaid. ..FINRA has proposed...more

Federal Court Adopts CFTC Position on Cryptocurrency Authority

In the first case of its kind, a New York federal district court has adopted the position of the Commodity Futures Trading Commission (CFTC) that it has jurisdiction to regulate the virtual currency markets. In so doing, the...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Journal’s weekend report on Facebook’s role in the unauthorized use of data from 50 million users wreaked havoc on the ‘Book’s stock yesterday, with losses spreading across the tech sector (and fellow its FANGers in...more

Fifth Circuit Vacates Fiduciary Rule, Creating Circuit Split; Headed to Supreme Court?

by Pepper Hamilton LLP on

On March 15, in Chamber of Commerce v. U.S. Department of Labor, No. 17-10238 (5th Cir. March 15, 2018), the Fifth Circuit Court of Appeals struck down the Department of Labor’s (DOL’s) fiduciary rule in a 2-1 decision. ...more

Fifth Circuit Vacates DOL Fiduciary Rule

by Burr & Forman on

It was the Ides of March for the Obama Administration’s “fiduciary duty rule” that sought to remake much of nation’s financial markets by back-door regulation of anyone dealing with IRA investors. The US Fifth Circuit...more

Lehman RMBS Settlement Likely to Spur Additional Claims

by Bilzin Sumberg on

On March 8, the Bankruptcy Court for the Southern District of New York concluded a lengthy “claims estimation” trial to determine the appropriate final settlement price for a resolution of lawsuits filed on behalf of...more

Innovation in Compliance-Digital Transformations in Compliance with Vince Walden

by Thomas Fox on

The Innovation in Compliance Podcast is here! In this inaugural episode, I’m interviewing Ernst & Young partner and Big Data expert Vince Walden on the ways in which automation and data analytics are transforming the...more

Corporate and Financial Weekly Digest, Featuring Topics on Broker-Dealer, CFTC, Derivatives, Brexit and UK and EU Developments

BROKER-DEALER - SEC Proposes Transaction Fee Pilot Program On March 14, the Securities and Exchange Commission proposed new Rule 610T of Regulation National Market System (Reg NMS), which would create a Transaction Fee...more

Auto Enrollment is going up

by Ary Rosenbaum on

When automatic enrollment was first introduced, it was introduced as a negative election and I thought it was just a cheap gimmick by an employer to help their actual deferral percentage test because all money from the...more

Bridging the Week - March 2018 #2

J. Christopher Giancarlo, Chairman of the Commodity Futures Trading Commission, laid out his priorities for the remainder of 2018 in a speech before the FIA at its annual conference last week. Unrelatedly, the Securities and...more

Fifth Circuit Vacates DOL Fiduciary Rule

In a 2-1 decision, the U.S. Court of Appeals for the Fifth Circuit vacated the Department of Labor’s fiduciary rule, including the expanded definition of “investment advice fiduciary” and the associated exemptions. The...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The DOJ is expanding its Wells Fargo sales probe into the bank’s wealth management division, a troubling move for an organization still trying to right the ship in its retail-banking unit where the sham-account scandal...more

Fintech Company Subject to SEC Enforcement Action for Exceeding Rule 701 Option Grant Limit

Subject to its limits, Rule 701 permits non-reporting companies to grant employees equity without registration under the Securities Act of 1933. ...more

Destination Quant: Where analysts explore the power of data

The thirst for data in the investment process is never ending, which is why Thomson Reuters has launched Destination Quant to help the quant investing industry get the most out of quant research....more

FCPA Compliance Report-Episode 375, Steve Durham on Impact of Digital Realty Trust

by Thomas Fox on

In this episode, I welcome back Steve Durham, a partner with Labaton and Sucharow to discuss the continued reverberations from the recent Supreme Court decision narrowing the definition of whistleblowers in Digital Realty...more

This Week in Congress

by McGuireWoods LLP on

The House and Senate convene today at noon and 3 p.m., respectively. The FY 2018 omnibus bill will be hogging the spotlight this week, as lawmakers scramble to avoid a government shutdown. The deadline is March 23, and the...more

New Guidance From SEC, New York’s DFS

Hoping to help covered entities, the Securities and Exchange Commission (SEC) released an update on cybersecurity while New York’s Department of Financial Services (DFS) published guidance for licensed virtual currency...more

Fifth Circuit Strikes Down DOL Investment Advice Fiduciary Rules

by Ballard Spahr LLP on

The Fifth Circuit on March 15 vacated U.S. Department of Labor (DOL) regulations that redefined the circumstances in which a person who provides investment advice in connection with a retirement plan or individual retirement...more

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