Episode 5: Business Divorce, Delaware Style
Until recently, the nature of ownership of assets on deposit with a third party was not controversial. If a local bank branch goes bankrupt, the cash or other assets deposited with the bank belonged to individual...more
On February 15, 2023, the Securities and Exchange Commission (SEC) proposed new rules and amendments (Proposal) to Rule 206(4)-2 (Custody Rule) under the Investment Advisers Act of 1940 (Advisers Act)....more
The Guidance clarifies the regulator’s expectations on safekeeping customer digital assets, and the disclosures that must accompany such arrangements. On January 23, 2023, the New York Department of Financial Services...more
THE SITUATION: In recent years, cryptocurrency has presented an exciting opportunity to invest in a new asset class—at the cost of accepting certain risks. Unlike traditional financial assets, cryptocurrency has lacked...more
The U.S. Securities and Exchange Commission (“SEC”) issued a statement in response to the Wyoming Division of Banking’s No-Action Letter on Custody of Digital Assets and Qualified Custodian Status....more
Hey Siri, how do I get everything on this iPhone to my loved ones if something happens to me (or make sure it’s deleted)? If you ask Siri this question, she will (as is all too common) not give you the right response, and...more
Digital assets are owned by almost everyone. Unfortunately, most of us have not planned for future management of those assets by our family....more
On September 24, 2016, the Governor of California approved the California Revised Uniform Fiduciary Access to Digital Assets Act, which “would authorize a decedent’s personal representative or trustee to access and manage...more
In an article earlier this year we noted that at a large number of states had introduced legislation to address an emerging issue that is unique to our Information Age: how will our digital assets be accessed and used (or...more
One reality of modern life is our increasing reliance on digital information and services. It’s difficult to take and then order prints of photographs, accumulate travel rewards, book travel, sort through financial records,...more