Crypto Firms Announce New Product Launches in Custody, Stablecoins, Wallets -
According to a recent press release, Prometheum Capital has received the first-ever approval from the Financial Industry Regulation Authority...more
6/5/2023
/ Broker-Dealer ,
CFTC ,
Criminal Prosecution ,
Cryptoassets ,
Cryptocurrency ,
Enforcement Actions ,
European Banking Authority (EBA) ,
Financial Services Industry ,
FinTech ,
Fraud ,
IOSCO ,
New Guidance ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
SDN List ,
Securities ,
State Attorneys General ,
United Arab Emirates (UAE)
On May 3, 2023, a jury found Nathaniel Chastain, a former manager of OpenSea (a major NFT marketplace), guilty of wire fraud and money laundering in connection with his attempts to conceal his use of confidential business...more
5/25/2023
/ Commodities ,
Confidential Information ,
Corporate Counsel ,
Criminal Convictions ,
Criminal Prosecution ,
Digital Assets ,
Fraud ,
Insider Trading ,
Jury Verdicts ,
Material Nonpublic Information ,
Misappropriation ,
Money Laundering ,
Non-Fungible Tokens (NFTs) ,
Securities ,
Wire Act ,
Wire Fraud
On Wednesday, March 1 the Department of Justice (DOJ) announced its first-ever prosecution of an individual for insider trading based on an executive’s use of 10b5-1 trading plans. Terren Peizer, the executive chairman of...more
3/8/2023
/ 10b5-1 Plans ,
Amended Regulation ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Enforcement Actions ,
Form 8-K ,
Indictments ,
Insider Information ,
Insider Trading ,
Popular ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Fraud
Monaco’s and Polite’s remarks, and the DOJ’s new policies and guidance, come amid the Department’s increasingly tough on corporate crime approach and emphasis on rewarding companies that have effective compliance programs...more
3/7/2023
/ Chief Compliance Officers ,
Compliance ,
Compliance Monitoring ,
Cooperation ,
Corporate Crimes ,
Corporate Culture ,
Corporate Misconduct ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Electronic Communications ,
Enforcement Priorities ,
Executive Compensation ,
Monaco Memo ,
Self-Disclosure Requirements
On November 7, 2022, the U.S. Department of Justice (DOJ) announced that it had seized more than $3.36 billion worth of bitcoin as part of a continuing investigation into a 10-year fraud involving the Silk Road dark web...more
11/14/2022
/ Asset Seizure ,
Bitcoin ,
Criminal Proceeds ,
Criminal Prosecution ,
Cryptocurrency ,
Dark Web ,
Department of Justice (DOJ) ,
Fraud ,
IRS ,
Silk Road ,
Wire Fraud
On July 25, 2022, the Securities and Exchange Commission (SEC or the Commission) made headlines announcing insider trading charges against 10 individuals across four separate cases, signaling an increased and renewed focus on...more
Significant parallel actions commenced this week by the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) bring crypto fraud enforcement into the spotlight, with the SEC alleging that multiple...more
7/25/2022
/ Coinbase ,
Criminal Prosecution ,
Cryptoassets ,
Department of Justice (DOJ) ,
Digital Wallets ,
Enforcement Actions ,
Ethereum ,
Howey ,
Illegal Tipping ,
Indictments ,
Insider Trading ,
Material Nonpublic Information ,
Proposed Rules ,
Rule 10(b) ,
Rule 10b-5 ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Tokens ,
Securities Violations
Welcome to the 2017 Year-End Report from the BakerHostetler Securities Litigation and Regulatory Enforcement Practice Team.
The purpose of this report is to provide a periodic survey of matters we believe to be of interest...more