Bridging the Week - January 2018 #2

by Katten Muchin Rosenman LLP

  • FINRA Announces 2018 Examination Priorities; Will Review Role of Firms and Salespersons in Facilitating Cryptocurrency Transactions and ICOs: The Financial Industry Regulatory Authority issued its 2018 Regulatory and Examinations Priorities Letter last week setting forth the areas of focus for its inspections of member firms this year. FINRA’s attention will principally be on fraud, high-risk firms and natural person brokers, operational and financial risks, sales practice risks and market integrity.

Among other things, FINRA will be evaluating whether firms’ controls are sufficient to meet their suitability obligations. The regulator “will pay particular attention to suitability determinations where registered representatives recommend complex products to unsophisticated, vulnerable investors.”

Specific sales practice risks FINRA will be reviewing include how firms and their salespersons may facilitate transactions in cryptocurrencies and initial coin offerings. Where an ICO involves the sale of a security, FINRA may look to review the “supervisory and operational infrastructure” a firm has implemented to comply with applicable securities laws and regulations as well as FINRA rules.

FINRA will also be examining firms’ written business continuity plans – particularly after Hurricanes Harvey and Maria – to assess how firms will have continued access to critical systems even when they may not have physical access to relevant offices. Among other things, FINRA will consider how firms implement their BCPs, evaluating under what circumstances a BCP will be activated; how a system may be assessed as critical; how data back-ups and recovery are effectuated; and, as applicable, how firms coordinate with their affiliates and vendors during a situation requiring activation of their BCPs.The self-regulatory organization will also review firms’ technology governance and cybersecurity program effectiveness and anti-money laundering program adequacy. In examining firms’ AML programs, FINRA will assess the adequacy of written policies and procedures to identify and report suspicious transactions; resources committed to AML; and independent testing. FINRA expressed concerned about firms that do not monitor, or monitor less robustly, accounts of affiliates.

FINRA will also focus on firms’ detection of possible manipulation; compliance with best execution requirements, the Securities and Exchange Commission’s Market Access Rule and Regulation SHO; and adherence to fixed income data integrity and reporting requirements. Additionally, FINRA will look for possible front running of correlated option products, as well as the adequacy of surveillance of alternative trading systems.

FINRA encouraged members to consider its proposed 2018 priorities in conjunction with its 2017 Examination Findings Report published last December (click here to access). In its Findings Report FINRA made specific recommendations on how firms might improve their cybersecurity and AML programs, enhance their fulfillment of their suitability obligations, and comply with Reg MAR and Reg SHO, based on its observations of effective practices at member firms.

Compliance Weeds: The beginning of the year provides a natural opportunity for registrants to review their written policies and procedures to ensure they still reflect actual practices. It is easy, over time, for policies and procedures to go stale. Unfortunately, if something goes wrong, it will not be helpful to have actual practices that are inconsistent with written policies, or written policies that are so generic they provide no real basis for actual practices.

Additionally, FINRA’s 2018 Regulatory and Examination Priorities Letter read in conjunction with its 2017 Examinations Findings Report provides an excellent resource for broker-dealers to assess the adequacy of their policies, procedures and practices against objective standards. FINRA’s publications provide a useful tool against which other SEC and Commodity Futures Trading Commission registrants may evaluate comparable policies and procedures (e.g., AML, cybersecurity).

  • Class Action Lawsuit Filed Against Crypto-Exchange for Allegedly Not Returning Clients’ Funds: Vircurex – a virtual currency exchange – and one of its purported principals were named in a lawsuit filed in a US federal court in Colorado alleging breach of contract, conversion, constructive fraud and unjust enrichment.

According to Timothy Shaw, the named plaintiff in the purported class action lawsuit, Vircurex was founded in October 2011. Although the exchange claims to be incorporated in Belize, this may not be true, claims the plaintiff. The exchange appears to still be operating. (Click here for access to Vircurex’s website.)

The lawsuit alleges that, following its disclosure in March 2014 of two hacking incidents in mid-2013, Vircurex “was nearing insolvency,” and had insufficient Bitcoin and other alt-coins to meet its obligations to customers. The lawsuit claims that, in response, Vircurex froze customer accounts, although it promised to repay its clients over time. To date, claims the plaintiff, this repayment has not been completed.

Also named in the lawsuit were Andreas Eckert, one of the alleged organizers of Vircurex, and “John Doe,” a non-identified purported organizer located in China. Among other things, plaintiff seeks a return of his funds and costs.

Last month, various media sources reported that Youbit, a South Korea-based cryptocurrency exchange, filed for bankruptcy (click here for a sample article).

Among other developments last week involving cryptocurrencies:

  • Secretary of the Treasury Says FSOC Studying Cryptocurrencies: In an interview before the Economic Club of Washington DC on January 12, Steven Mnuchin, Secretary of the US Department of Treasury, said that the Federal Stability Oversight Counsel established a working group to study cryptocurrencies at its last meeting. Mr. Mnuchin said, “We are very focused on … cryptocurrencies.” His two principal priorities regarding cryptocurrencies are to ensure “that bad people cannot use these currencies to do bad things,” and that, “consumers who are trading [cryptocurrencies] understand the risks” in order to avoid being hurt. He said he was not concerned at all that foreign nations such as Russia might develop their own cryptocurrencies to evade sanctions. Created under the Dodd-Frank Wall Street Reform and Consumer Protection Act, FSOC consists of representatives of nine federal agencies (including the Commodity Futures Trading Commission and the Securities and Exchange Commission) and one independent member, and is authorized to identify and monitor excessive risks to the US financial system. (Click here to access Mr. Mnuchin’s interview.)
  • Bitcoin ETF Applications to the SEC Withdrawn: Two firms seeking to list exchange-traded Bitcoin funds – Direxion Shares ETF and ProShares ETF Trust – withdrew their applications with the Securities and Exchange Commission. Both entities – which had filed their applications following the self-certification to the Commodity Futures Trading Commission by three exchanges to list Bitcoin derivatives contracts on December 1, 2017 – indicated their withdrawals were at SEC staff’s request. ProShares sought approval for funds that apparently would have traded Bitcoin futures and not spot Bitcoin. According to Direxion in a letter withdrawing its application (click here to access), “[s]taff expressed concerns regarding the liquidity and valuation of the underlying instruments in which the Fund intends to primarily invest and requested that the Trust withdraw the Amendment until such time as these concerns are resolved.” (Click here for background on the self-certification by three derivatives exchanges in the article “Three CFTC-Regulated Exchanges Self-Certify Bitcoin Derivatives Contracts” in the December 3 edition of Bridging the Week. Click here to access a copy of the ProShares withdrawal letter.)
  • Second State Enjoins BitConnect: North Carolina became the second state to issue a summary cease and desist order against BitConnect, a UK-based cryptocurrency-issuing company, in connection with various digital currency-related investment programs (click here to access the order). The Securities Division of the NC Department of the Secretary of State claimed that BitConnect is selling unregistered securities while not being registered as a dealer or salesman of securities in the state and omitting material facts when offering investments. The Texas State Securities Board previously brought a similar action against BitConnect. (Click here for details in the article “CFTC Issues Explanation of Its Oversight and Approach to Virtual Currency Markets; Texas Securities Board Enjoins Initial Coin Offering” in the January 7, 2018 edition of Bridging the Weeks.)
  • Foreign Countries’ Developments: The Malaysia Securities Commission issued a cease and desist order against the CopyCash Foundation – the backers of a proposed initial coin offering involving CopyCashCoin. The Securities Commission claimed that disclosures in CopyCash’s whitepaper issued in conjunction with its ICO and other presentations to potential investors likely violated applicable securities laws. (Click here to access a copy of the order.) Separately, the Korean Financial Intelligence Unit and the Korean Financial Supervisory Service announced they had begun examining six commercial banks’ compliance with anti-money laundering requirements in connection with their offer of trading accounts on Korean cryptocurrency exchanges. Among other things, the regulators seek to assess whether the banks have electronic systems to ensure that the name of a deposit account holder matches that of a virtual account holder.

My View: The Commodity Futures Trading Commission and the Securities and Exchange Commission appear to be taking increasingly divergent approaches to cryptocurrencies. Whereas the CFTC has been aggressive in promulgating consumer education and bringing enforcement actions against violators of relevant laws, it has also granted registration to a swap execution facility and clearing organization that trades and settles Bitcoin derivatives, and has not precluded the self-certification of cash-settled Bitcoin derivatives products. On the other hand, the SEC appears reluctant – even with the advent of Bitcoin derivatives trading on CFTC-overseen markets – to authorize Bitcoin ETFs. The SEC and CFTC should work together to promote clarity in their oversight, not impede the development of digital ledger technologies and related cryptocurrencies, and continue to enforce relevant laws against miscreants – much as the CFTC already is doing. As CFTC Chairman J. Christopher Giancarlo has written, “[o]ne thing is certain: ignoring virtual currency trading will not make it go away. Nor is it a responsible regulatory strategy.”

More Briefly:

  • Senate Agricultural Committee Leaders Encourage CFTC to Retaliate Against EC Should EC Withdraw From 2016 Joint Clearinghouse Agreement: Leaders of the Senate Committee on Agriculture, Nutrition and Forestry encouraged the Commodity Futures Trading Commission to retaliate against the European Commission should it determine, as a result of Brexit, not to abide by the terms of a 2016 agreement to recognize each other’s overseen clearinghouses as being subject to equivalent regulatory oversight. (Click here for background regarding this agreement in the article “CFTC Approves Substituted Compliance Framework for EU-Based DCOs; EC Formally Recognizes US CCPs as Subject to Equivalent Regulation” in the March 20, 2016 edition of Bridging the Week.) According to Chairman Pat Roberts and ranking Democratic member Debbie Stabenow, “[i]f the EC moves away from the 2016 CFTC-EC agreement, the CFTC should review the appropriateness of the exemptions and relief it has granted to foreign entities, including clearinghouses established in the European Union.” In June 2017, the EC proposed that, after Brexit, it might impose direct requirements on certain non-EU-based clearinghouses that provide services in the European Union. (Click here for background in the article “EC Proposes Two-Tier System for Classifying Third-Country CCPs; Certain Systemically Important CCPs May Be Required to Relocate to the EU” in the June 18, 2017 edition of Bridging the Week.)
  • FERC Rejects Plan to Subsidize Coal and Nuclear Power Plants: The Federal Energy Regulatory Commission rejected a proposal by Secretary of Energy Rick Perry to subsidize the coal industry by requiring coal and nuclear power plants to maintain at least 90 days of fuel supply on-site in order to ensure the resilience of US electric power grids. Instead, FERC ordered that a new study be conducted to examine any risks to resiliency US electric grid operators may face and possible ways to address any identified risks. FERC expects all regional transmission organizations and independent system operators to respond to FERC queries within 60 days.
  • FCM Fails to Persuade Court to Dismiss Liquidator’s Claims That Payments Made by Sentinel Management Prior to Bankruptcy Were Fraudulent Transfers: MBF Clearing Corporation failed to have dismissed an amended complaint filed against it by Sentinel Liquidation Trust that claimed MBF’s receipt of certain funds from Sentinel Management prior to SM’s collapse in 2007 constituted a prohibited fraudulent conveyance. A US federal court in Illinois previously dismissed the Liquidation Trust’s efforts to claim back funds paid by SM to MBF on the grounds the transfers were an avoidable preference, but did so without precluding the filing of an amended complaint. The US federal court in Illinois evaluating the Liquidation Trust’s current lawsuit rejected MBF’s claims that the amended filing was barred by the statute of limitations (because the amended action related back to the original lawsuit) or by the doctrine of latches (because it was court inaction not the Liquidation’s Trust actions that delayed a re-filing). (Click here for background on this matter in the article “Sentinel Management Former CEO Sentenced to 14 Years in Prison for Fraud; Former Head Trader Receives Eight-Year Term” in the February 1, 2015 edition of Bridging the Week.)
  • Hong Kong-Based Blockchain Company’s Trading Suspended by SEC: The Securities and Exchange Commission temporarily suspended trading in securities of Hong Kong-based UBI Blockchain Internet, Ltd. The SEC took its emergency unilateral action because of concerns related to the accuracy of information in the firm’s filings since at least September 2017 regarding its business operation, and “recent, unusual, and unexplained” market activity in some of the company’s shares since November 2017. The temporary suspension will expire at 11:59 pm EST on January 22.
  • NFA Reminds Members About Doing Business With Exempt CTAs and CPOs: The National Futures Association issued its annual reminder that members dealing with lawfully exempt-from-registration commodity trading advisors and commodity pool operators should take “reasonable steps” through the first quarter of 2018 to ensure such persons are lawfully exempt. This is because lawfully exempt CTAs and CPOs have until March 1 to file with the NFA an annual affirmation regarding their exemption and, if they do not, may be required to be registered. Reasonable steps, said NFA, include reviewing certain information regarding such CPOs and CTAs it provides online. NFA members are not permitted to conduct a customer business with persons required to be registered with the Commodity Futures Trading Commission and members of the NFA who are not.
  • ICE Futures Europe to Transition Certain Energy Contracts to ICE Futures Europe in February: ICE Futures Europe and ICE Futures U.S. announced that, as of trade date February 19, 2018, various North American Oil and Financial Natural Gas Liquids contracts would cease to trade on IFEU and commence trading on IFUS. The transitioned contracts will continue to be cleared at ICE Clear Europe.
  • OFAC Designates New Persons and Entities for Violating Human Rights and Supporting Sanctioned Weapons Creators: The Office of Foreign Assets Control of the US Department of Treasury added 14 persons to its sanction lists. These persons and entities, all from Iran, were added, said OFAC, because of their connection with human rights abuses and censorship, as well as support of sanctioned Iranian weapons developers.

For further information:

Class Action Lawsuit Filed Against Crypto-Exchange for Allegedly Not Returning Clients’ Funds:

FCM Fails to Persuade Court to Dismiss Liquidator’s Claims That Payments Made by Sentinel Management Prior to Bankruptcy Were Fraudulent Transfers:

FERC Rejects Plan to Subsidize Coal and Nuclear Power Plants:

FINRA Announces 2018 Examination Priorities; Will Review Role of Firms and Salespersons in Facilitating Cryptocurrency Transactions and ICOs:

Hong Kong-Based Blockchain Company’s Trading Suspended by SEC:

ICE Futures Europe to Transition Certain Energy Contracts to ICE Futures Europe in February:

NFA Reminds Members About Doing Business With Exempt CTAs and CPOs:

OFAC Designates New Persons and Entities for Violating Human Rights and Supporting Sanctioned Weapons Creators:

Senate Agricultural Committee Leaders Encourage CFTC to Retaliate Against EC Should EC Withdraw From 2016 Joint Clearinghouse Agreement:


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Katten Muchin Rosenman LLP | Attorney Advertising

Written by:

Katten Muchin Rosenman LLP

Katten Muchin Rosenman LLP on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide

JD Supra Privacy Policy

Updated: May 25, 2018:

JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.

This Privacy Policy describes how JD Supra, LLC ("JD Supra" or "we," "us," or "our") collects, uses and shares personal data collected from visitors to our website (located at (our "Website") who view only publicly-available content as well as subscribers to our services (such as our email digests or author tools)(our "Services"). By using our Website and registering for one of our Services, you are agreeing to the terms of this Privacy Policy.

Please note that if you subscribe to one of our Services, you can make choices about how we collect, use and share your information through our Privacy Center under the "My Account" dashboard (available if you are logged into your JD Supra account).

Collection of Information

Registration Information. When you register with JD Supra for our Website and Services, either as an author or as a subscriber, you will be asked to provide identifying information to create your JD Supra account ("Registration Data"), such as your:

  • Email
  • First Name
  • Last Name
  • Company Name
  • Company Industry
  • Title
  • Country

Other Information: We also collect other information you may voluntarily provide. This may include content you provide for publication. We may also receive your communications with others through our Website and Services (such as contacting an author through our Website) or communications directly with us (such as through email, feedback or other forms or social media). If you are a subscribed user, we will also collect your user preferences, such as the types of articles you would like to read.

Information from third parties (such as, from your employer or LinkedIn): We may also receive information about you from third party sources. For example, your employer may provide your information to us, such as in connection with an article submitted by your employer for publication. If you choose to use LinkedIn to subscribe to our Website and Services, we also collect information related to your LinkedIn account and profile.

Your interactions with our Website and Services: As is true of most websites, we gather certain information automatically. This information includes IP addresses, browser type, Internet service provider (ISP), referring/exit pages, operating system, date/time stamp and clickstream data. We use this information to analyze trends, to administer the Website and our Services, to improve the content and performance of our Website and Services, and to track users' movements around the site. We may also link this automatically-collected data to personal information, for example, to inform authors about who has read their articles. Some of this data is collected through information sent by your web browser. We also use cookies and other tracking technologies to collect this information. To learn more about cookies and other tracking technologies that JD Supra may use on our Website and Services please see our "Cookies Guide" page.

How do we use this information?

We use the information and data we collect principally in order to provide our Website and Services. More specifically, we may use your personal information to:

  • Operate our Website and Services and publish content;
  • Distribute content to you in accordance with your preferences as well as to provide other notifications to you (for example, updates about our policies and terms);
  • Measure readership and usage of the Website and Services;
  • Communicate with you regarding your questions and requests;
  • Authenticate users and to provide for the safety and security of our Website and Services;
  • Conduct research and similar activities to improve our Website and Services; and
  • Comply with our legal and regulatory responsibilities and to enforce our rights.

How is your information shared?

  • Content and other public information (such as an author profile) is shared on our Website and Services, including via email digests and social media feeds, and is accessible to the general public.
  • If you choose to use our Website and Services to communicate directly with a company or individual, such communication may be shared accordingly.
  • Readership information is provided to publishing law firms and authors of content to give them insight into their readership and to help them to improve their content.
  • Our Website may offer you the opportunity to share information through our Website, such as through Facebook's "Like" or Twitter's "Tweet" button. We offer this functionality to help generate interest in our Website and content and to permit you to recommend content to your contacts. You should be aware that sharing through such functionality may result in information being collected by the applicable social media network and possibly being made publicly available (for example, through a search engine). Any such information collection would be subject to such third party social media network's privacy policy.
  • Your information may also be shared to parties who support our business, such as professional advisors as well as web-hosting providers, analytics providers and other information technology providers.
  • Any court, governmental authority, law enforcement agency or other third party where we believe disclosure is necessary to comply with a legal or regulatory obligation, or otherwise to protect our rights, the rights of any third party or individuals' personal safety, or to detect, prevent, or otherwise address fraud, security or safety issues.
  • To our affiliated entities and in connection with the sale, assignment or other transfer of our company or our business.

How We Protect Your Information

JD Supra takes reasonable and appropriate precautions to insure that user information is protected from loss, misuse and unauthorized access, disclosure, alteration and destruction. We restrict access to user information to those individuals who reasonably need access to perform their job functions, such as our third party email service, customer service personnel and technical staff. You should keep in mind that no Internet transmission is ever 100% secure or error-free. Where you use log-in credentials (usernames, passwords) on our Website, please remember that it is your responsibility to safeguard them. If you believe that your log-in credentials have been compromised, please contact us at

Children's Information

Our Website and Services are not directed at children under the age of 16 and we do not knowingly collect personal information from children under the age of 16 through our Website and/or Services. If you have reason to believe that a child under the age of 16 has provided personal information to us, please contact us, and we will endeavor to delete that information from our databases.

Links to Other Websites

Our Website and Services may contain links to other websites. The operators of such other websites may collect information about you, including through cookies or other technologies. If you are using our Website or Services and click a link to another site, you will leave our Website and this Policy will not apply to your use of and activity on those other sites. We encourage you to read the legal notices posted on those sites, including their privacy policies. We are not responsible for the data collection and use practices of such other sites. This Policy applies solely to the information collected in connection with your use of our Website and Services and does not apply to any practices conducted offline or in connection with any other websites.

Information for EU and Swiss Residents

JD Supra's principal place of business is in the United States. By subscribing to our website, you expressly consent to your information being processed in the United States.

  • Our Legal Basis for Processing: Generally, we rely on our legitimate interests in order to process your personal information. For example, we rely on this legal ground if we use your personal information to manage your Registration Data and administer our relationship with you; to deliver our Website and Services; understand and improve our Website and Services; report reader analytics to our authors; to personalize your experience on our Website and Services; and where necessary to protect or defend our or another's rights or property, or to detect, prevent, or otherwise address fraud, security, safety or privacy issues. Please see Article 6(1)(f) of the E.U. General Data Protection Regulation ("GDPR") In addition, there may be other situations where other grounds for processing may exist, such as where processing is a result of legal requirements (GDPR Article 6(1)(c)) or for reasons of public interest (GDPR Article 6(1)(e)). Please see the "Your Rights" section of this Privacy Policy immediately below for more information about how you may request that we limit or refrain from processing your personal information.
  • Your Rights
    • Right of Access/Portability: You can ask to review details about the information we hold about you and how that information has been used and disclosed. Note that we may request to verify your identification before fulfilling your request. You can also request that your personal information is provided to you in a commonly used electronic format so that you can share it with other organizations.
    • Right to Correct Information: You may ask that we make corrections to any information we hold, if you believe such correction to be necessary.
    • Right to Restrict Our Processing or Erasure of Information: You also have the right in certain circumstances to ask us to restrict processing of your personal information or to erase your personal information. Where you have consented to our use of your personal information, you can withdraw your consent at any time.

You can make a request to exercise any of these rights by emailing us at or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

You can also manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard.

We will make all practical efforts to respect your wishes. There may be times, however, where we are not able to fulfill your request, for example, if applicable law prohibits our compliance. Please note that JD Supra does not use "automatic decision making" or "profiling" as those terms are defined in the GDPR.

  • Timeframe for retaining your personal information: We will retain your personal information in a form that identifies you only for as long as it serves the purpose(s) for which it was initially collected as stated in this Privacy Policy, or subsequently authorized. We may continue processing your personal information for longer periods, but only for the time and to the extent such processing reasonably serves the purposes of archiving in the public interest, journalism, literature and art, scientific or historical research and statistical analysis, and subject to the protection of this Privacy Policy. For example, if you are an author, your personal information may continue to be published in connection with your article indefinitely. When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymize it, or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.
  • Onward Transfer to Third Parties: As noted in the "How We Share Your Data" Section above, JD Supra may share your information with third parties. When JD Supra discloses your personal information to third parties, we have ensured that such third parties have either certified under the EU-U.S. or Swiss Privacy Shield Framework and will process all personal data received from EU member states/Switzerland in reliance on the applicable Privacy Shield Framework or that they have been subjected to strict contractual provisions in their contract with us to guarantee an adequate level of data protection for your data.

California Privacy Rights

Pursuant to Section 1798.83 of the California Civil Code, our customers who are California residents have the right to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes.

You can make a request for this information by emailing us at or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

Some browsers have incorporated a Do Not Track (DNT) feature. These features, when turned on, send a signal that you prefer that the website you are visiting not collect and use data regarding your online searching and browsing activities. As there is not yet a common understanding on how to interpret the DNT signal, we currently do not respond to DNT signals on our site.

Access/Correct/Update/Delete Personal Information

For non-EU/Swiss residents, if you would like to know what personal information we have about you, you can send an e-mail to We will be in contact with you (by mail or otherwise) to verify your identity and provide you the information you request. We will respond within 30 days to your request for access to your personal information. In some cases, we may not be able to remove your personal information, in which case we will let you know if we are unable to do so and why. If you would like to correct or update your personal information, you can manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard. If you would like to delete your account or remove your information from our Website and Services, send an e-mail to

Changes in Our Privacy Policy

We reserve the right to change this Privacy Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our Privacy Policy will become effective upon posting of the revised policy on the Website. By continuing to use our Website and Services following such changes, you will be deemed to have agreed to such changes.

Contacting JD Supra

If you have any questions about this Privacy Policy, the practices of this site, your dealings with our Website or Services, or if you would like to change any of the information you have provided to us, please contact us at:

JD Supra Cookie Guide

As with many websites, JD Supra's website (located at (our "Website") and our services (such as our email article digests)(our "Services") use a standard technology called a "cookie" and other similar technologies (such as, pixels and web beacons), which are small data files that are transferred to your computer when you use our Website and Services. These technologies automatically identify your browser whenever you interact with our Website and Services.

How We Use Cookies and Other Tracking Technologies

We use cookies and other tracking technologies to:

  1. Improve the user experience on our Website and Services;
  2. Store the authorization token that users receive when they login to the private areas of our Website. This token is specific to a user's login session and requires a valid username and password to obtain. It is required to access the user's profile information, subscriptions, and analytics;
  3. Track anonymous site usage; and
  4. Permit connectivity with social media networks to permit content sharing.

There are different types of cookies and other technologies used our Website, notably:

  • "Session cookies" - These cookies only last as long as your online session, and disappear from your computer or device when you close your browser (like Internet Explorer, Google Chrome or Safari).
  • "Persistent cookies" - These cookies stay on your computer or device after your browser has been closed and last for a time specified in the cookie. We use persistent cookies when we need to know who you are for more than one browsing session. For example, we use them to remember your preferences for the next time you visit.
  • "Web Beacons/Pixels" - Some of our web pages and emails may also contain small electronic images known as web beacons, clear GIFs or single-pixel GIFs. These images are placed on a web page or email and typically work in conjunction with cookies to collect data. We use these images to identify our users and user behavior, such as counting the number of users who have visited a web page or acted upon one of our email digests.

JD Supra Cookies. We place our own cookies on your computer to track certain information about you while you are using our Website and Services. For example, we place a session cookie on your computer each time you visit our Website. We use these cookies to allow you to log-in to your subscriber account. In addition, through these cookies we are able to collect information about how you use the Website, including what browser you may be using, your IP address, and the URL address you came from upon visiting our Website and the URL you next visit (even if those URLs are not on our Website). We also utilize email web beacons to monitor whether our emails are being delivered and read. We also use these tools to help deliver reader analytics to our authors to give them insight into their readership and help them to improve their content, so that it is most useful for our users.

Analytics/Performance Cookies. JD Supra also uses the following analytic tools to help us analyze the performance of our Website and Services as well as how visitors use our Website and Services:

  • HubSpot - For more information about HubSpot cookies, please visit
  • New Relic - For more information on New Relic cookies, please visit
  • Google Analytics - For more information on Google Analytics cookies, visit To opt-out of being tracked by Google Analytics across all websites visit This will allow you to download and install a Google Analytics cookie-free web browser.

Facebook, Twitter and other Social Network Cookies. Our content pages allow you to share content appearing on our Website and Services to your social media accounts through the "Like," "Tweet," or similar buttons displayed on such pages. To accomplish this Service, we embed code that such third party social networks provide and that we do not control. These buttons know that you are logged in to your social network account and therefore such social networks could also know that you are viewing the JD Supra Website.

Controlling and Deleting Cookies

If you would like to change how a browser uses cookies, including blocking or deleting cookies from the JD Supra Website and Services you can do so by changing the settings in your web browser. To control cookies, most browsers allow you to either accept or reject all cookies, only accept certain types of cookies, or prompt you every time a site wishes to save a cookie. It's also easy to delete cookies that are already saved on your device by a browser.

The processes for controlling and deleting cookies vary depending on which browser you use. To find out how to do so with a particular browser, you can use your browser's "Help" function or alternatively, you can visit which explains, step-by-step, how to control and delete cookies in most browsers.

Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at:

- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.