On January 30, 2020, the Board of Governors of the Federal Reserve System, the Board of Directors of the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Securities and Exchange...more
On August 20, 2019, the Board of Directors of the Federal Deposit Insurance Corporation (“FDIC”) and the Office of the Comptroller of the Currency (“OCC”) approved amendments to regulations implementing Section 13 of the Bank...more
Introduction -
On May 10, 2019, the Securities and Exchange Commission (“SEC”) issued proposed rule amendments and interpretive guidance “to improve the framework for regulating cross-border security-based swaps...more
In the past year, the U.S. Securities Exchange Commission (“SEC”) and Chairman Jay Clayton have repeatedly cautioned the cryptocurrency and initial coin offering (“ICO”) industries about the securities law implications for...more
If 2017 was the year that cryptocurrencies came to the forefront of public attention, 2018 will be the year that this emerging medium of exchange enters a new phase of regulatory scrutiny. As an example, on January 4, 2018,...more
Initial Coin Offerings (ICOs) have rapidly emerged as the hottest trend in FinTech financing, albeit one that is not without controversy. Put simply, an ICO is a method of fundraising somewhat akin to an initial public...more
10/31/2017
/ Anti-Money Laundering ,
Bitcoin ,
Broker-Dealer ,
CFTC ,
Commodity Exchange Act (CEA) ,
Cryptocurrency ,
Digital Currency ,
FinCEN ,
Initial Coin Offering (ICOs) ,
Investment Adviser ,
IRS ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Virtual Currency
The rapid rise of distributed ledger technology and the spate of recent initial coin offerings (“ICOs”) have focused attention on whether, and in what circumstances, virtual currencies and digital tokens may be securities...more
In late 2011 and early 2012, the fragile green shoots of recovery began to peek out from the barren blasted heath of the crisis-blown financial markets. Market activity was spurred by a rare confluence of secular trends,...more
12/14/2016
/ CMBS ,
Commercial Mortgage Securitization ,
Commercial Real Estate Market ,
Dodd-Frank ,
Employee Retirement Income Security Act (ERISA) ,
EU ,
Investment Company Act of 1940 ,
Investors ,
Lenders ,
Loans ,
Mortgages ,
Peer-to-Peer ,
Popular ,
Real Estate Investments ,
Secondary Markets ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC)
In a long-awaited development, the delayed compensation standard for late settlement of par/near par loans is changing in important ways starting on September 1, 2016. On that date, the no-fault system for delayed...more
Marketplace loans are the most exciting securitization asset class to emerge since credit cards and student loans. Securitization provides marketplace loan investors with liquidity, diversified funding and interest rate...more
On August 27, 2014, following years of preparation, speculation and comment, the Securities and Exchange Commission (SEC) adopted Regulation AB II (Reg AB II). Reg AB II represents a response to requirements of Sections 939A...more
On June 25, 2014, the United States Securities and Exchange Commission (“SEC”) adopted the first in a series of final rules and interpretive guidance related to U.S. regulation of cross-border security-based swap activities....more