On 28 June 2023, the UK’s Law Commission (“Commission”) published its final report (“Report”) setting out its recommendations to UK Parliament on proposed changes to UK law to ensure it better recognises and protects digital...more
On 11 July 2023, HM Treasury issued two publications on the future of the UK’s short-selling regime. The first publication was the UK government’s response to HM Treasury’s December 2022 call for evidence on the Short Selling...more
On 4 July 2023, the Financial Conduct Authority (“FCA”) published a letter (“Letter”) that it has sent to cryptoasset firms warning them that they must prepare for changes to the financial promotions regime that come into...more
European Commission Proposes Legal Framework for Digital Euro -
The European Commission (Commission) published its ‘Single Currency Package’ on 28 June 2023 with proposals to establish a legal framework for the creation of...more
The European Commission (“Commission”) published its ‘Single Currency Package’ on 28 June 2023 with proposals to establish a legal framework for the creation of a potential digital euro alongside the cash euro. The...more
As a major post-Brexit milestone, HM Treasury (“HMT”) has announced that the Financial Services and Markets Bill received Royal Assent on 29 June 2023. For more information on the development of the Financial Services and...more
As a major step forward in post-Brexit relations between the two jurisdictions, the UK and EU have signed the highly anticipated memorandum of understanding (“MoU”) on UK-EU regulatory cooperation in financial services. HM...more
The Financial Conduct Authority (the “FCA”) recently announced its “near-final” rules on financial promotions for cryptoassets. The FCA published its highly anticipated policy statement, “Financial promotion rules for...more
Four Key Considerations Since SEC Amended Form PF -
In early May, the Securities and Exchange Commission (SEC) adopted a final rule amending Form PF, the confidential reporting form for certain SEC-registered investment...more
6/14/2023
/ Biometric Information Privacy Act ,
CFTC ,
Climate Change ,
Crypto Exchanges ,
Cryptoassets ,
Data Privacy ,
Digital Assets ,
Environmental Social & Governance (ESG) ,
EU ,
False Claims Act (FCA) ,
New Legislation ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Texas ,
UK ,
Whistleblowers
Katten recently hosted an interesting and insightful panel discussion on the latest market abuse trends in the UK and US. The session was presented Katten Financial Markets Regulatory Partner Neil Robson alongside RQC Group’s...more
The International Organization of Securities Commissions (“IOSCO”) recently published a consultation report (CR01/2023) (“Consultation”) on draft policy recommendations (“Recommendations”) to support greater regulatory and...more
Daniel Davis Shares Views on Digital Asset Regulation During House Subcommittee Hearing -
In testimony before the US House of Representatives Subcommittee on Commodity Markets, Digital Assets, and Rural Development, Daniel...more
5/31/2023
/ Biden Administration ,
Bitcoin ,
Cryptoassets ,
Cryptocurrency ,
Environmental Social & Governance (ESG) ,
European Parliament ,
Financial Conduct Authority (FCA) ,
HM Treasury ,
New York ,
Non-Fungible Tokens (NFTs) ,
Privacy Laws ,
Securities and Exchange Commission (SEC) ,
State Privacy Laws ,
UK
On 17 May 2023, the European Commission (“Commission”) published a press release announcing that – as a major post-Brexit milestone – it has adopted a draft memorandum of understanding (“MoU”) on regulatory cooperation in...more
The Financial Conduct Authority (FCA) recently published the findings from its 2022 whistleblowing qualitative assessment survey, together with the steps it intends to take to improve whistleblower confidence.
The FCA...more
The UK Government recently announced plans to abandon its controversial commitment to review or scrap all retained EU law by the end of 2023. Although the majority of retained EU law is now set to stay on the UK statute book...more
Following our recent article on the Government’s proposed reforms to the Senior Manager and Certification Regime (“SMCR”) (available here), HM Treasury (the “HMT”) launched a call for evidence (“Call for Evidence”), and the...more
After many delays, the European Parliament has approved the long-awaited proposed regulation on markets in cryptoassets (MiCA), alongside the proposed regulation on information accompanying transfers of funds and certain...more
Katten Named Leader in Blockchain and Cryptocurrency in Chambers FinTech 2023 Guide -
Katten announced that the firm had attained a superior ranking in the Chambers FinTech 2023 guide. Katten was recognized as a leader in...more
Digital asset investment among proprietary trading firms, family offices, and asset managers peaked in the fall of 2021, dipped a bit in the summer of 2022, and now it’s on the rise again — even with the turbulence in the...more
New DOL Rule Enables Consideration of ESG Factors in Investing, Plus the SEC Continues its ESG Enforcement Push in the Absence of Final SEC Rules -
On November 22, the US Department of Labor (DOL) announced a final rule...more
12/14/2022
/ Block Trades ,
Crypto Exchanges ,
Cryptoassets ,
Cybersecurity ,
Data Protection ,
Department of Labor (DOL) ,
Environmental Social & Governance (ESG) ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
Personal Data ,
Private Investment Funds ,
Securities and Exchange Commission (SEC) ,
UK
Cryptoassets are particularly unique assets that are sources of deep and rapid innovation in global financial markets. Given the volatility of the crypto market, their value can dramatically rise and fall. Insolvency...more
SEC to Inspect Firms for Compliance With New Advertising and Solicitation Rule -
November 4 is the compliance date for the new rule governing advertising and solicitation activities by investment advisers. The new rule...more
10/13/2022
/ Advertising ,
B2B Transactions ,
Bribery ,
California Consumer Privacy Act (CCPA) ,
CFTC ,
Cryptoassets ,
Decentralized Autonomous Organization (DAO) ,
Energy Market ,
EU ,
Foreign Investment ,
Joint Audit Committee ,
National Security ,
Securities and Exchange Commission (SEC) ,
UK
On July 7, the Securities and Exchange Commission (SEC) Asset Management Advisory Committee (the Committee) adopted recommendations developed by the Environmental, Social and Governance (ESG) Subcommittee related to ESG...more
7/23/2021
/ Asset Management ,
Business Strategies ,
Capital Investments ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Investment Management ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Sustainability
The blockchain technology that powers cryptocurrency originated in an obscure white paper, anonymously published under the name Satoshi Nakamoto in 2008. In the 13 years following its publication, the cryptocurrency industry...more
7/16/2021
/ Blockchain ,
CFTC ,
Corporate Culture ,
Corporate Governance ,
Corporate Social Responsibility ,
Cryptocurrency ,
Environmental Social & Governance (ESG) ,
EU ,
Green Initiatives ,
Human Rights ,
Popular ,
Securities and Exchange Commission (SEC) ,
Sustainability
BROKER-DEALER -
Notice of Filing of a Proposed Rule Change to Adopt a Supplemental Liquidity Schedule -
The Securities and Exchange Commission is seeking comments on a Financial Industry Regulatory Authority (FINRA)...more