Bitcoin Fund Completes Offering, Ether Futures Launch, Crypto Funds Report Published - We previously reported that a Toronto-based investment manager was launching a Bitcoin Fund, and it has now completed a $48 million...more
FDA DSCSA Blockchain Pilot Report Released, Consortium Formed for Energy Grids - A final report provided in February 2020 to the U.S. Food and Drug Administration (FDA) has been released with details on the FDA’s Drug Supply...more
Digital Asset Marketplaces Evolve in US, Japan and Switzerland - The Public Private Execution Network (PPEX), an alternative trading system (ATS) that supports transactions in exempt digital asset securities, recently...more
CFTC Approves Bitcoin Futures and Prosecutes Fraud, Amicus Brief Filed in Kik Case - The Commodity Futures Trading Commission (CFTC) has issued an Order of Designation to Bitnomial Exchange, LLC, granting it status as a...more
Bitcoin and Blockchain Financial Products Launch in Public Funds, Commodities, Debit Cards and Mining “Hash Contracts” - According to an April 9 press release, a Canadian asset manager has become the first firm to launch a...more
Building on the Securities and Exchange Commission’s (SEC) prior guidance and updated Compliance and Disclosure Interpretations regarding disclosures in the COVID-19 environment, on April 8, Chairman Jay Clayton and William...more
On April 3, 2020, the U.S. Securities and Exchange Commission’s Office of the Chief Accountant (OCA) issued a statement on the importance of high-quality financial reporting in light of the significant impacts of COVID-19,...more
On March 25, the Securities and Exchange Commission’s (SEC) Division of Corporate Finance (CorpFin) issued Disclosure Guidance Topic No. 9, which provides its views on disclosure and other securities law obligations companies...more
Telegram, Kik and Tezos Cases Reach Milestones in Blockchain Token Litigation -
On May 24, the U.S. District Court for the Southern District of New York granted the Securities and Exchange Commission’s (SEC) motion for a...more
On March 25, 2020, the U.S. Securities and Exchange Commission (the SEC or Commission) issued an order that updated its March 4 order to extend the conditional exemptions from reporting and proxy delivery requirements for...more
3/30/2020
/ Coronavirus/COVID-19 ,
Disclosure Requirements ,
Filing Deadlines ,
Filing Requirements ,
Form 8-K ,
Proxy Statements ,
Publicly-Traded Companies ,
Relief Measures ,
Required Forms ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
The Securities and Exchange Commission (SEC) and the National Futures Association (NFA) have issued the following guidance to investment advisers working remotely in response to circumstances related to COVID-19....more
Exchanges Expand in US and Gibraltar; India Supreme Court Ruling Favors Industry -
Late last week, a major global messenger app based in Japan announced that it has launched BitFront, a new global cryptocurrency exchange...more
Overview of the Telegram Case -
Telegram, a global messaging platform, was founded by Russian brothers Nikolai and Pavel Durov in 2013....more
On Feb. 6, during a speech at the International Blockchain Congress in Chicago, SEC Commissioner Hester M. Peirce unveiled a proposed “safe harbor” that would seek to provide an exemption from the registration requirements of...more
New Approvals From European and Thai Regulators, Canada and WEF Publish Guidance -
Swiss-based digital fund manager Amun launched 21 Shares Short Bitcoin (SBTC) this week, a first-of-its-kind digital asset-based Exchange...more
Last week, the U.S. Securities and Exchange Commission (SEC) filed its brief in Liu v. SEC, claiming that disgorgement in federal courts is within its statutory authority and that the U.S. Supreme Court should not disrupt...more
On Sept. 25, 2019, the U.S. Securities and Exchange Commission (SEC) adopted previously proposed Rule 163B under the Securities Act of 1933, as amended, to expand the use of “test-the-waters” (TTW) communications – which,...more
On June 18, 2019, the Securities and Exchange Commission (SEC) requested public comment on “Harmonization of Securities Offerings Exemptions” – specifically, with regard to certain exemptions from registration under the...more
On May 2, 2019, Judge Colleen McMahon of the Southern District of New York ruled that the government effectively outsourced a portion of its ongoing investigation of LIBOR manipulation at one financial institution (the Bank)...more
6/28/2019
/ Banks ,
CFTC ,
Corporate Counsel ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Deutsche Bank ,
Fifth Amendment ,
Financial Institutions ,
Internal Investigations ,
Libor ,
Motion to Vacate ,
Self-Incrimination
On February 19, 2019, the Securities and Exchange Commission (SEC) voted to propose a new rule under the Securities Act of 1933 (the Securities Act), and amendments to Rule 405 (together, the Proposed Rule), to expand the...more
3/29/2019
/ Accredited Investors ,
Comment Period ,
Emerging Growth Companies ,
Initial Public Offering (IPO) ,
Investment Companies ,
Proposed Rules ,
Qualified Institutional Buyers ,
Registration Statement ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Testing-the-Waters Communications