Everything Compliance-Episode 12
Payments Firms Launch Crypto Products, New Crypto Adoption Data Published - According to a recent press release, a well-known U.S. payments and financial technology company announced that it will allow its United States...more
The settlement is the latest example of the agency’s enhanced criminal enforcement of money transmitting business and international money-laundering laws. The recent settlement is significant both in terms of its amount...more
An initial question faced by a new hedge fund manager is whether or not registration with the U.S. Commodity Futures Trading Commission (CFTC) will be required. Limited Trading Exemption - CFTC Rule 4.13(a)(3), which...more
A sovereign nation’s decision to adopt Bitcoin as legal tender raises interesting questions — and legal ramifications. On June 8, 2021, El Salvador’s Legislative Assembly voted to establish Bitcoin as unrestricted legal...more
Last Saturday, El Salvador’s President Nayib Bukele announced he was proposing bill that recognizes Bitcoin as “legal tender.” If enacted, El Salvador will become the first sovereign nation to formally recognize Bitcoin as...more
Samsung announced yesterday that it’s postponing the official mass-market introduction of its new foldable smart phone (originally set for the end of the week) based on reports that the pricey device has been malfunctioning....more
On July 12, ISDA initiated a market-wide consultation on technical issues related to new benchmark fallbacks for derivatives referencing certain interbank offered rates, or IBORs, in response to the expected discontinuance of...more
Bass, Berry & Sims attorney Chris Lazarini discussed a case in which the defendant – who had pleaded guilty in a criminal case to one count of fraud under the Commodity Exchange Act (CEA) and one count of money laundering,...more
Former NJ Senator and Governor Jon Corzine has reached a $5 million settlement with regulators over the collapse of his MF Global firm, which filed bankruptcy in 2011 and lost more than $1 billion in customer investments....more
It’s not quite in the 9-year AIG/Greenberg territory, but it’s been five years since the Feds started investigating former NJ Senator and Governor Jon Corzine and his role in overseeing the collapse of brokerage firm MF...more
Friday’s jobs report was disappointing as compared to the month earlier, but it contained news of a half a percentage point increase in average hourly earnings that pleased some economists who have been worrying about...more
On January 15, 2015, two days after the Swiss National Bank reaffirmed its commitment to a three-year peg on the franc, and less than a month after stating that the cap was “absolutely central,” and it would continue to...more
In their joint swap definitions release in July 2012, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) made a distinction between (i) a “compo” equity total return swap, in...more