An Overview of the SEC’s Recently Adopted Exchange-Traded Funds (ETF) Rule
According to a recent press release, a major U.S. bank has entered into a strategic partnership with the largest U.S. cryptocurrency exchange platform. This collaboration reportedly aims to expand access to secure digital...more
According to a recent press release, a major stablecoin consortium announced a new partnership with a leading international crypto exchange. The exchange has now integrated USDG and seeks to offer the stablecoin to its 60...more
The Staff highlighted disclosure-related observations and issues identified during reviews of digital asset ETP filings. On July 1, 2025, the Securities and Exchange Commission’s (SEC’s) Division of Corporation Finance...more
On July 1, the SEC’s Division of Corporation Finance (Corp Fin) issued a statement regarding Crypto Asset Exchange-Traded Products (crypto asset ETPs). Crypto asset ETPs are investment products that are listed and traded...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more
Congress continues to prioritize digital asset legislation, with the House leadership designating the week of July 14 as “Crypto Week,” when the House plans to vote on three significant pieces of digital asset legislation:...more
In another step toward regulatory clarity for crypto investment products, the SEC Division of Corporate Finance staff has issued detailed disclosure guidance on how crypto exchange-traded products (ETPs) should navigate...more
Welcome to the latest edition of Fenwick’s Securities Law Update. This issue contains updates and important reminders on...more
Introduction - On March 17, 2025, Ropes & Gray published a white paper describing the much-anticipated Share Class Relief 1 and outlining matters we believed Advisers and Boards may want to consider in connection with...more
Commissioner Hester Peirce outlined 10 priorities for the Crypto Task Force, aiming for regulatory clarity while promoting innovation in digital asset markets....more
The Pennsylvania Department of Banking and Securities (Department) has recently targeted registered investment advisers who utilize leveraged and inverse exchange traded funds (ETFs). Advisers should be aware of the...more
This session of the Private Client West Coast Forum 2024 focused on recent developments, including income tax planning to support investment performance, executive compensation planning, private placement life insurance...more
On October 21, 2024, the Securities and Exchange Commission Division of Examinations published its examination priorities for fiscal year 2025.1 In this alert, we offer ten observations for broker-dealers. Our observations...more
As covered briefly in our previous article, the “route to market” / offtake arrangements/ revenue contracts are perhaps the key difference between battery energy storage systems (BESS) projects and other project-financed...more
Kalshi is a CFTC registered exchange that allows for the placing of cash bets on a variety of real-world events. Specifically, through what it calls “event contracts,” Kalshi allows users to buy positions on whether an event...more
On May 23, 2024, the SEC approved exchange rule changes that will allow the listing and trading of a number of spot Ether exchange-traded products (ETPs). Ether is the second-largest cryptocurrency by market capitalization...more
For nearly 200 years after its inception in 1792, the New York Stock Exchange (“NYSE”) faced insignificant competition as the premier stock exchange within the United States. Then, alongside the technological surge of the...more
In March of 2022, the SEC proposed rules to include “any market participant that engages in activities as describe in the rules [as] a ‘dealer’ or ‘government securities dealer[.]’”...more
Please join Seward and Kissel's Blockchain & Cryptocurrency Group on Wednesday, March 27, 2024 for the S&K Blockchain Symposium: Spring Crypto | Crypto Spring....more
Financial Firms Complete Blockchain Pilot, UK Approves Crypto ETNs - A recent press release announced completion of the Canton Network pilot, “a first-of-its-kind program demonstrating the interoperability of twenty-two...more
The staff of the Division of Investment Management (the “Staff”) has issued a FAQ pertaining to the rule and form amendments adopted by the Securities and Exchange Commission (the “SEC”) in October 2022, which require...more
Congress continues to plug along on crypto policy. The Senate’s attention – on a bipartisan basis – has been focused on extending Anti-Money Laundering (AML) regulatory authority to the digital assets space. This continues to...more
While the SEC meddling in industry pricing and other commercial matters is not a new phenomenon, a recent SEC proposal reflects an enhanced willingness by the agency to tightly grip the industry’s purse strings (and a slow...more
Who may be interested: Registered Investment Companies - Quick Take: The staff of the SEC’s Division of Investment Management (Staff) recently issued responses to frequently asked questions (FAQs) covering the SEC’s...more