News & Analysis as of September 25, 2024

Cybersecurity › Trading Platforms

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

Broker Dealer Regulatory Digest - October 2023

Davis Wright Tremaine LLP on 12/2/2023

Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

SEC Dismisses Ripple Labs Executives After Losing Bid for Interlocutory Appeal

Troutman Pepper on 10/23/2023

On October 19, the Securities and Exchange Commission (SEC) dismissed its claims against Ripple Labs, Inc. (Ripple) executives Bradley Garlinghouse and Christian Larsen for allegedly aiding and abetting Ripple’s violations of...more

SEC Releases Risk Alert on EXAMS Process

Akin Gump Strauss Hauer & Feld LLP on 9/12/2023

Investment Advisers: Assessing Risks, Scoping Examinations, and Requesting Documents* I. Introduction - The SEC-registered investment adviser (“adviser”) population is large and diverse, ranging from global asset managers...more

New York Settles with Crypto Company, Proposes Crypto Legislation

Sheppard Mullin Richter & Hampton LLP on 5/15/2023

On May 1, NYDFS settled with a cryptocurrency trading platform over the company’s cybersecurity deficiencies, resulting in a consent order and $1.2 million fine for the crypto company. NYDFS alleged “multiple deficiencies in...more

New York State Department of Financial Services Publishes First Crypto Industry Consent Order

BakerHostetler on 8/15/2022

On August 1, 2022, the New York State Department of Financial Services (“DFS” or “Department”) issued a Consent Order, imposing a $30 million fine on Robinhood Crypto, LLC (“Robinhood”), a trading platform that allows...more

United States Government Warns Investors About Malicious Cryptocurrency Trading Apps

Console and Associates, P.C. on 4/28/2022

While investors used to need to possess a certain level of tech-savviness to trade cryptocurrency, that is less and less the case these days. In recent years, many mainstream brokerage firms began to allow customers to buy...more

Recent SEC Proposed Rulemaking Could Impact Blockchain Trading Platforms

Sheppard Mullin Richter & Hampton LLP on 1/31/2022

On January 26, 2022, the SEC released a rulemaking proposal intended to enhance investor protections and cybersecurity for alternative trading systems that trade treasuries and other government securities. The 650 page...more

International Legal Highlights - December 2021

McDermott Will & Emery on 12/16/2021

CROSS-PRACTICE TEAM RECOVERS $6 MILLION FROM BITCOIN THIEF IN SHORT ORDER - The Challenge: In the emerging cryptocurrency space, most investors store their assets in digital wallets, where—unlike traditional bank...more

NYAG’s Warning to Crypto Businesses Muddies Regulatory Waters; Compliance Requirements Remain Elusive

Sheppard Mullin Richter & Hampton LLP on 11/30/2021

New York’s chief law enforcement agency recently squandered an opportunity to bring much needed guidance to the digital assets space. On October 18, 2021, the Office of New York Attorney General, Letitia James (“NYAG”),...more

Blockchain 51% Attacks – Lessons Learned for Developers and Trading Platform Operators

Proskauer - Blockchain and the Law on 2/13/2020

Once purely theoretical, “majority” or “51%” attacks on public blockchains have dealt participants a reality check: The fundamental assumption of Satoshi Nakamoto’s 2008 Bitcoin whitepaper (that computing power will remain...more

Data Privacy + Cybersecurity Insider - October 2018

Robinson & Cole LLP on 10/8/2018

On October 1, 2018, the Food and Drug Administration (FDA) issued its “Medical Device Cybersecurity Regional Incident Preparedness and Response Playbook” to address continued threats to medical devices that could affect...more

Data Privacy + Cybersecurity Insider - June 2018 #2

Robinson & Cole LLP on 6/18/2018

CYBERSECURITY - Financial Conduct Authority Warns Banking Industry of ICOs and Cryptocurrency - Writing a “Dear CEO” letter to banking executives, the Financial Conduct Authority (FCA) warned executives on June 11,...more

TMT China Brief - Summer 2018

Hogan Lovells on 6/14/2018

Cybersecurity in China remains a hot topic. The Cyber Security Law is already in place but the question is how this law is going to be interpreted and implemented. In this edition, we will look at various draft/trial measures...more

SEC Cyber Watch: Finally, New Guidelines for Breach Disclosures?

Patterson Belknap Webb & Tyler LLP on 11/13/2017

The U.S. Securities and Exchange Commission has signaled that it expects to issue updated guidelines on reporting cybersecurity incidents. “I think this issue is important enough, wide-ranging enough that we should tackle...more

Colorado Regulator Proposes New Cybersecurity Rules for Financial Institutions

Patterson Belknap Webb & Tyler LLP on 4/17/2017

Increasingly, states are enacting cybersecurity regulations for financial institutions and investment advisors. Following New York’s groundbreaking regulation, Colorado recently proposed changes to its state...more

Corporate Investigations & White Collar Defense - October 2015

Manatt, Phelps & Phillips, LLP on 10/23/2015

"Wherefore Art Thou Due Process?" Part III - Why it matters: It is time for another installment in our continuing "Wherefore Art Thou Due Process?" coverage into the ongoing constitutional challenges to the SEC's...more

Investment Management Update - October 2015

Ballard Spahr LLP on 10/15/2015

Below is a summary of recent investment management developments that affect registered investment companies, private equity funds, hedge funds, investment advisers, and others in the investment management industry. Schwab...more

The SEC OCIE Announces Increased Scrutiny of Broker-Dealers’ and Investment Advisers’ Cybersecurity Programs

BakerHostetler on 9/29/2015

On September 15, 2015, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a National Exam Program Risk Alert (2015 Risk Alert) to provide broker-dealers and investment...more

National Futures Association proposes cybersecurity rules for its members

Robinson+Cole Data Privacy + Security Insider on 9/11/2015

The National Futures Association (NFA) recently approved new mandatory cybersecurity rules for members of the futures industry. Members of the NFA include exchange-traded futures, forex and over-the-counter swaps industries....more

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