News & Analysis as of October 12, 2024

Financial Industry Regulatory Authority (FINRA)

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Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency. less -

FINRA Unveils Key Insights on Member Firms’ Digital Asset Activities

Katten Muchin Rosenman LLP on 8/16/2024

The Financial Industry Regulatory Authority (FINRA) released a comprehensive update on its insights into its member firms’ involvement in crypto asset activities, revealing significant trends and compliance challenges in the...more

Crypto is Here to Stay in 2024, So Be Careful How You Talk About It

Faegre Drinker Biddle & Reath LLP on 2/2/2024

More than ever before, financial services regulators must increasingly adapt to technological advances. Perhaps no other technological advancement is more important right now than crypto currency. Crypto currency is defined...more

Blockchain Week in Review - December 2020 #2

Perkins Coie on 12/16/2020

U.S. Developments - Members of Congress Request SEC Clarity On Digital Securities Custody - On December 9, a bipartisan group of representatives penned a letter to SEC Chairman Jay Clayton regarding the issue of...more

Why Is FINRA So Interested In Your Non-Securities Business?

UB Greensfelder LLP on 7/24/2019

Rightly or wrongly, I don’t know much about cryptocurrencies or digital coins. But that’s ok. What is worrisome, on the other hand, is that I am increasingly concerned that FINRA doesn’t either. And while my own ignorance...more

Increased SEC Enforcement Action and Litigation In the Cryptocurrency Space

Akin Gump Strauss Hauer & Feld LLP on 9/19/2018

As the U.S. Securities and Exchange Commission (SEC) stated previously, it is continuing to scrutinize and commence enforcement actions against companies, advisors and investors involved in the offering of cryptocurrencies...more

A Big Week on the Blockchain: Recent Enforcement and Regulatory Developments

Orrick, Herrington & Sutcliffe LLP on 9/19/2018

Technology evolves and events unfold at a dizzying pace in the blockchain world, but even by those standards this past week was tough to keep up with. Every day seemed to bring a new first for the industry...more

FINRA’s First Crypto Enforcement Action

Burr & Forman on 9/13/2018

On September 11, FINRA announced its filing of an enforcement action accusing a Massachusetts broker of fraud and registration violations arising from his sale of an unregistered cryptocurrency, “HempCoin.” It is FINRA’s...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 9/12/2018

The SEC has taken its first enforcement action against a hedge fund over its cryptocurrency investments—namely, falsely holding itself out as the “first regulated fund in the U.S. focused on crypto assets.” It also targeted a...more

SEC, FINRA Target ICOs, Cybersecurity, Secondary Market Trading in 2018 Examination Priorities

Kramer Levin Naftalis & Frankel LLP on 3/2/2018

Both the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) recently released their respective 2018 examination priorities, providing a glimpse into their plans for the year to...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 2/15/2018

Nordstrom’s doing what it can to fight the seemingly inevitable decline of many retailers in the face of online competition. The family-run company has been revamping stores, amassing e-commerce companies, and launching new...more

FINRA Prioritizes Cryptocurrency Regulation in 2018

Nossaman LLP on 1/22/2018

Last week, I posted a blog about the SEC’s increased focus on cryptocurrency and ICOs in the coming year. It looks like that scrutiny will not be limited to the SEC. In its 2018 Annual Regulatory and Examination Priorities...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 1/19/2018

CFTC Approves Amendments to Rules on Intermediary Registration and Review of Adverse Actions - On January 9, 2018, the U.S. Commodity Futures Trading Commission (the "CFTC") approved final rules that update Parts 3 and 9...more

Initial Coin Offerings and Cryptocurrencies Will be a Priority for FINRA in 2018

Robinson+Cole Data Privacy + Security Insider on 1/12/2018

In a ten page letter that previews the Financial Industry Regulatory Authority’s (FINRA) priorities for 2018, initial coin offerings (ICOs) and transactions involving cryptocurrencies....more

Your Daily Dose of Financial News

Robins Kaplan LLP on 1/10/2018

AT&T has dropped plans to sell the Mate 10—the newest smartphone from China’s Huawei Technologies—just before the partnership was to be announced. AT&T gave no reasons for its abrupt reversal, but lawmakers have recently...more

SEC Warns That ICOs and Other Internet Token Sales May Be Securities Offerings Subject to Federal Securities Laws

Dorsey & Whitney LLP on 7/27/2017

On Tuesday, July 25, as many practitioners probably expected, the SEC issued a warning that offers and sales of digital assets (virtual coins or tokens) by organizations using blockchain or distributed ledger technology...more

Back to the Future: 2017 [Expect Focus Life Insurance – December 2016]

Carlton Fields on 1/9/2017

- Should Your Company Purchase Bitcoin to Pay a Cyber Ransom? - NAIC Draws Line in CFPB Sandbox - NAIC’s Big Data Task Force Sets Charges for 2017 - Broker-Dealers Can Hold Customers’ Initial Checks ...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 12/6/2016

Blackstone is spinning off a new housing maintenance and rental venture in the form of Invitation Homes LP, which could see an IPO as early as January 2017. Invitation Homes is the culmination of a four-year, $10 billion...more

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