Payment for Order Flow (PFOF) and Gamification: Your Questions Answered
Summer Enforcement Action Review; Raising Money in a Pandemic - Investment Management Roundtable Discussion
Investment Management and Private Funds Roundtable – June 2020
Videocast: Asset management regulation in 2020 videocast series – FinTech initiatives
Videocast: Asset management regulation in 2020 videocast series – Fiduciary investment advice: The patchwork emerges
Videocast: Asset management regulation in 2020 videocast series – SEC enforcement
Videocast: Asset management regulation in 2020 videocast series – Complying with new SEC rules for broker-dealers
Investment Management Roundtable Discussion – Regulatory and Enforcement Update
Regulation Best Interest Videocast Series: Establishing An Investment Platform Post-Regulation BI
Investment Management Update - Focus on Data Privacy and Cybersecurity
New Research and Surveys Address CBDCs, Institutional Crypto Investment - Staff from the board of governors of the U.S. central bank recently published a research paper addressing central bank digital currencies (CBDCs)....more
Kim Kardashian, the reality television personality, social media star, and entrepreneur has agreed to pay $1.26 million to settle the SEC’s claims that she improperly touted a crypto token without disclosing that she had been...more
In this podcast, Greg Nowak, a partner in Troutman Pepper’s Investment Management and Compliance and Hedge Funds Practice Groups, is joined by Evan Katz, Managing Director of Crawford Ventures, Inc., for a candid review of...more
The Financial Industry Regulatory Authority’s new request for digital assets activities adds more confusion to the regulatory environment. The United States Financial Industry Regulatory Authority, or FINRA, has once again...more
U.S. broker-dealer activity involving digital assets could implicate various FINRA rules in addition to federal and state securities laws and SEC rules. As most readers likely know by now, whether this activity is of...more
Asset managers will need to consider how FinTech developments impact their business model in 2020, including developments related to digital asset securities, cryptocurrency-based ETFs and blockchain. In this Bottom Line...more
The Securities and Exchange Commission’s (“SEC”) mission has three principal components: investor protection; maintaining fair, orderly and efficient markets; and facilitating capital formation.2 The SEC’s regulation of...more
It was a year filled with tantalizing tidbits and many loose ends. 2019 marked the 10th year since blockchain technology was released into the wild by its still unknown inventor, Satoshi Nakamoto, who mined the first bitcoin...more
Token Taxonomy Framework Published, Blockchain Supply Chain Pilots Expand - This week, the members of the Token Taxonomy Initiative (TTI), an organization with members that include several major firms across a diverse set of...more
Smart Contracts Deployed by Icelandic Retailer, Blockchain for Sneakers and DHS - A press release issued this week announced the successful completion of an automated invoice payment using the Ethereum blockchain. ...more
Blockchain Capital Markets Platforms Achieve and File for Regulatory Approvals - The Intercontinental Exchange recently received approval from the New York State Department of Financial Services for its emerging bitcoin...more
Two food giants agreed to resolve charges brought by the Commodity Futures Trading Commission that they manipulated or attempted to manipulate prices of the Chicago Board of Trade’s December 2011 wheat futures contract and...more
Last week a Canada-based social media company answered charges filed against it by the Securities and Exchange Commission in June 2019 that alleged its 2017 initial sale of digital tokens constituted an unlawful securities...more
U.S. Developments - Regulatory Developments - SEC and FINRA Issue Joint Statement on Digital Asset Custody Issues - On July 8, 2019, the U.S. Securities and Exchange Commission (SEC) and the Financial Industry...more
The SEC signaled last week that it appears to be growing more comfortable approving certain digital asset activities, qualifying the first two initial coin offerings ever to proceed as registered securities....more
The staffs of the Division of Trading and Markets (Division) of the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) (collectively, the “Regulators”) published a joint...more
Staff of the Securities and Exchange Commission and the Financial Industry Regulatory Authority issued a joint statement setting forth concerns they have with the ability of broker-dealers to comply with the SEC’s Customer...more
The U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority have issued a joint statement clarifying how their traditional regulatory approaches would apply to how broker-dealers handle their...more
A joint statement issued by the staffs of the SEC and FINRA provides insight into the issues under consideration regarding broker-dealer custody of digital asset securities, such as initial coin offerings. The SEC and FINRA...more
Last week, a Canada-based social media company was sued by the Securities and Exchange Commission for purportedly conducting an unregistered securities offering to United States persons in connection with an initial coin...more
Last week may not have been the best of times or the worst of times (to borrow from Charles Dickens), but it was undoubtedly a time that three United States financial services regulators issued important guidance on disparate...more
Initial Coin Offerings, or ICOs, have emerged at the intersection of cryptocurrencies and blockchain. Compared to a traditional equity offering in the United States where a company issues stock to investors in exchange for...more
On January 22, 2019, FINRA released its 2019 Annual Risk Monitoring and Examination Priorities Letter (the “Priorities Letter”). Late last year, as part of FINRA360 – the organization’s ongoing improvement initiative – FINRA...more
The Securities and Exchange Commission (SEC) has proposed a new rule and related amendments designed to streamline and enhance the regulatory framework for "fund of funds" arrangements....more
The UK Financial Conduct Authority issued proposed guidance concluding that only security tokens among the three principal types of cryptoassets are under the regulator’s oversight umbrella. Cryptocurrencies and utility...more