The US derivatives regulator continues to foster FinTech adoption and leadership in US markets.
The US Commodity Futures Trading Commission (CFTC) has affirmed its commitment to engaging the fast-moving financial...more
US regulators are calling attention to financial firms’ obligations to protect against evolving cybersecurity threats.
On October 2, 2019, the Financial Industry Regulatory Authority (FINRA) issued an information notice to...more
11/26/2019
/ Business E-Mail Compromise (BEC) ,
CFTC ,
Cyber Attacks ,
Cyber Threats ,
Cybersecurity ,
Data Protection ,
Data Security ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Information Systems Security Program (ISSP) ,
National Futures Association ,
New Guidance
As the agency pursues and prevents offerings of tokens it deems unregistered securities, further issues emerge.
The recent wave of US Securities and Exchange Commission (SEC) enforcement actions relating to initial coin...more
The extension benefits market participants in the US seeking to comply with EU MiFID II research rules, but significant issues remain.
Key Points:
..The no-action relief has been extended for three additional years from...more
The Annual Report provides transparency on FINRA’s recent examination findings and focus for the coming year.
On October 16, 2019, the Financial Industry Regulatory Authority (FINRA) published its annual Report on...more
Global monetary authorities and financial regulators have responded forcefully to the advent of privately developed global stablecoins.
A new report highlights the risks of global stablecoins and enumerates the legal,...more
The IRS has published a Revenue Ruling and FAQs clarifying some long-standing virtual currency questions.
On October 9, 2019, the US Internal Revenue Service (IRS) issued its first guidance on the tax treatment of...more
In line with its previous guidance, FINRA has granted broker-dealer (but not custodian) status to a digital asset platform.
In a follow-up to the July 2019 SEC and FINRA joint staff statement (Joint Statement) clarifying...more
SEC issues cease-and-desist orders for unregistered token presales and anti-touting violations.
Not content to let the dog days of summer slip by, the US Securities and Exchange Commission (SEC) recently issued two...more
8/27/2019
/ Accredited Investors ,
Blockchain ,
Cease and Desist Orders ,
Civil Monetary Penalty ,
Cryptocurrency ,
Initial Coin Offering (ICOs) ,
Market Participants ,
Private Placements ,
Regulation D ,
Regulation S ,
Safe Harbors ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Unregistered Securities
The global shift away from LIBOR presents a complex, time-sensitive, multifaceted set of challenges and tasks for the investment management industry.
In a statement published on July 12, 2019, the US Securities and...more
The Federal Reserve is finally stepping into the real-time payments arena.
On August 5, 2019, the Board of Governors of the US Federal Reserve System (the Fed) announced that it plans to roll out a real-time payment and...more
The SEC issues second no-action letter for a digital token, but will “utility” token offerings reach the next level?
Gamers, rejoice! In only its second no-action letter to date for digital tokens, the SEC cleared the way...more
7/30/2019
/ Anti-Money Laundering ,
BSA/AML ,
Digital Currency ,
Ether Tokens ,
Ethereum ,
Gaming ,
Howey ,
No-Action Letters ,
Popular ,
Regulation D ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Utility Tokens
The regulators attempt to clarify their position on the possible custody of digital assets by broker-dealers, but questions remain.
The SEC and FINRA recently released a joint staff statement (Joint Statement) addressing...more
The SEC’s Regulation Best Interest has important implications for institutionally focused broker-dealers and investment bankers.
On June 5, 2019, the US Securities and Exchange Commission (SEC) adopted Regulation Best...more
7/8/2019
/ Best Interest Standard ,
Broker-Dealer ,
Conflicts of Interest ,
Duty of Care ,
Fiduciary Duty ,
Financial Services Industry ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Regulation BI ,
Retail Investors ,
Securities and Exchange Commission (SEC)