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U.S. Financial Services Firms Announce Digital Asset Initiatives - A major U.S. financial services company and operator of global financial exchanges and clearinghouses recently announced an agreement with the issuer of the...more
Crypto Exchanges and Stablecoin Issuers Announce Multiple New Products - Multiple crypto sector companies have recently announced new products. In a press release, LayerZero, “an omnichain interoperability protocol that...more
Financial Services Firms Expand Cryptocurrency Custody Services - According to recent reports, the cryptocurrency custody arm of a major international bank has launched its institutional cryptocurrency custody services in...more
Fintech and Crypto Firms Announce Myriad New Crypto Product Launches - This week, a major global payments firm announced the launch of a stablecoin settlement solution that leverages technology by Fireblocks, a digital...more
CYBERSECURITY - DOJ Takes Down RaidForums' Website - In an action against what has been described as one of the largest hacker forums in the world, the U.S. Department of Justice (DOJ) announced on April 12, 2022, that...more
CYBERSECURITY - State Department Establishes Bureau of Cyberspace and Digital Policy - The Department of State’s new Bureau of Cyberspace and Digital Policy (CDP) commenced operations on April 4, 2022. According to an...more
CYBERSECURITY - Cyber-Attackers Politically Aligned - The most recent Accenture Global Incident Report (the Report) shows that cyber-attackers have political views and are divided between support for Russia or Ukraine....more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
CYBERSECURITY - Ubiquiti Notifies Customers of Breach - Ubiquiti, a manufacturer of products used for networks such as routers, webcams and mesh networks, announced this week that an unauthorized access to its systems...more
For public and private companies in all industries, the risk of being targeted in a U.S. Securities and Exchange Commission (SEC) investigation is a very real concern. As new and innovative securities offerings continue to be...more
CEP Magazine (August 2020) - The United States Securities and Exchange Commission (SEC) reported a 35% increase in complaints from mid-March to mid-May compared with last year. The increase is due to two distinct factors:...more
The COVID-19 pandemic has had a disparate effect on privacy regulators, with varying levels of enforcement advocated by different government entities; the California Attorney General, the U.S. Department of Health & Human...more
For our webinar last Thursday, “Consumer Protection: What’s Happening at the FTC,” we were joined by special guest speakers Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, and Malini Mithal, Associate...more
A comprehensive review of recent Federal Trade Commission (FTC or Commission) consumer protection actions shows that the FTC continues to be one of Washington’s most aggressive regulators. While the number of enforcement...more
Known by many names, including business email compromise fraud, CEO or CFO fraud, impersonation attacks, or “Man-in-the-Email” scams, cyber-related frauds involving spoofed or otherwise compromised business electronic...more
• The SEC issued guidance in the form of a rare “21(a) report” this week after investigating a series of email frauds impacting 9 unnamed companies. • These email-based frauds, referred to as “CEO scams” or “vendor scams,”...more
In this month's edition of our Privacy & Cybersecurity Update, we examine Brazil's new data protection regulation, the French data protection authority's warning to two companies of potential GDPR violations and the U.S....more
Cryptocurrency (e.g. Bitcoin) seems to be in the news on practically a daily basis, with people racing to get in on the latest investment trend and companies investigating how to best incorporate cryptocurrency and block...more
Issuers and other professionals participating in Initial Coin Offerings — widely known as ICOs — are facing the increasing threat of both U.S. Securities Exchange Commission enforcement actions and private class action suits...more
Implemented in September, the Securities Exchange Commission’s (“SEC”) Cyber Unit has brought its first enforcement action against an “Initial Coin Offering” (“ICO”) called PlexCoin. ICOs, which are listed on digital...more
On June 30, 2017, the SEC and the U.S. Attorney brought parallel civil and criminal fraud charges against Renwick Haddow, the owner of an unregistered broker-dealer entity named InCrowd Equity Inc., and two corporate entities...more