USA

United States of America

SEC Launches New Strategic Hub for Innovation and Financial Technology

The U.S. Securities and Exchange Commission today announced the launch of the agency's Strategic Hub for Innovation and Financial Technology (FinHub). The FinHub will serve as...

US regulators issue warning about false claims regarding endorsements of digital assets.

The SEC’s Office of Investor Education and Advocacy (OIEA) and the Commodity Futures Trading Commission’s (CFTC) Office of Customer Education and Outreach warn investors to...

Why the Crypto industry needs to fix Conflicts of Interest and Insider Trading

Last week the Attorney General of the State of New York published a report about the integrity of several Cryptocurrency exchanges and the results weren’t...

NY Attorney General issues Virtual Markets Integrity Report, highlights potential Market Abuse and Conflicts of Interest at Crypto Exchanges

The New York Attorney General Barbara D. Underwood todayannounced the results of the Virtual Markets Integrity Initiative, a fact-finding inquiry into the policies and practices...

Cryptocurrency Regulation or How to figure out what the Regulator really wants

In many cases, the real message is hidden between the lines and the same is true for Cryptocurrency Regulation. To find out which rules apply,...

No room for doubt: Airdrops and Bounty Programs Constitute Securities

The SEC yesterday published a press release entitled “SEC Bars Perpetrator of Initial Coin Offering Fraud”. What looks at first like another case of enforcement...

Dodd-Frank for Europeans – What it aimed to achieve, why it’s being reformed and the 5 biggest impacts of the rollbacks

For Europeans, it can be puzzling when talk turns to the famous Dodd-Frank as we witnesses the events that led to this milestone piece of...

US Watchdog Issues Advisory for Virtual Currency Products

The Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (DMO) and Division of Clearing and Risk (DCR) today issued a joint staff advisory that...

CFTC Proposes Rule to Reduce Regulatory Burdens for U.S. Market Participants

The Commodity Futures Trading Commission (CFTC) has approved a proposed rule to reduce regulatory burdens for U.S. market participants in order to promote economic growth...

CFTC proposes interpretation on Virtual Currency “Actual Delivery” in Retail Transactions

The Commodity Futures Trading Commission (CFTC) today announced a Proposed Interpretation concerning its authority over retail commodity transactions involving virtual currency, such as bitcoin. Specifically,...

SEC report concludes DAO Tokens were Securities

The Securities and Exchange Commission issued an investigative report today cautioning market participants that offers and sales of digital assets by "virtual" organizations are subject to...

US regulator publishes guidance for ICO investors

The U.S. Securities and Exchange Commission today published an investor bulletin on Initial Coin Offerings. The bulletin can be found below and on the investor...

SEC Files Charges in Trading Scheme Involving Confidential Government Information

The Securities and Exchange Commission today announced charges in an alleged insider trading scheme involving tips of nonpublic information about government plans to cut Medicare...

CFTC Launches LabCFTC as Major FinTech Initiative

The U.S. Commodity Futures Trading Commission (CFTC) today approved the creation of LabCFTC, a new initiative aimed at promoting responsible FinTech innovation to improve the...

SEC Charges Former Head Traders at Nomura With Fraud

The Securities and Exchange Commission today charged a pair of former head traders who ran the commercial mortgage-backed securities (CMBS) desk at Nomura Securities International...

SEC Issues Guidance Update and Investor Bulletin on Robo-Advisers

The Securities and Exchange Commission today published information and guidance for investors and the financial services industry on the fast-growing use of robo-advisers, which are...

SEC hosts Crowdfunding Dialogue

The Securities and Exchange Commission will host a crowdfunding symposium Feb. 28, covering research, challenges, opportunities, and the effects of securities-based crowdfunding on various market participants....

US regulator reports on DLT and the Implications of Blockchain for the Securities Industry

The U.S. Financial Industry Regulatory Authority (FINRA) today published a report on Distributed Ledger Technology and the implications of Blockchain for the Securities Industry. This paper...

In a nutshell – The US Supreme Court on Insider Trading

What’s the news? The US Supreme Court yesterday decided in the case of Salman v. United States in favour of insider trading prosecutors. What is...

US Regulator shifts focus to FinTech, issues Responsible Innovation Framework

The Office of the Comptroller of the Currency (OCC) today announced it will establish an office dedicated to responsible innovation and implement a formal framework...

US House of Representatives votes in favour of Blockchain

The US House of Representatives has voted in favour of resolution H. Res. 835. Expressing the sense of the House of Representatives that the United...

Company Paying Penalty for Violating Key Whistleblower Protection Rule

The Securities and Exchange Commission today announced that an Atlanta-based building products distributor is settling charges that it violated securities laws by using severance agreements...

Global Head of FX Cash Trading arrested for front-running and charged with criminal fraud

The U.S. Department of Justice has published a statement with regard to the arrest of  a senior investment banker at JFK airport in relation to allegations...

US regulator warns against operational vulnerabilities in Blockchain applications and cyberattacks

The Financial Stability Oversight Council (Council) has published its 2016 annual report. The Council reports annually to Congress on a range of issues, including significant...

In a nutshell – US AML regulation for Crowdfunding platforms

The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, recently put out a news release with regard to its...

Treasury Announces Key Regulations and Legislation to Counter Money Laundering and Corruption, Combat Tax Evasion

Today, the U.S. Department of the Treasury announced several actions to strengthen financial transparency and combat the misuse of companies to engage in illicit activities....

FinCEN Proposes to Amend Definition of Broker-Dealer in Securities to Include Funding Portals

The Financial Crimes Enforcement Network (FinCEN) today proposed to amend the Bank Secrecy Act’s (BSA) definition of “Broker or Dealer in Securities” in order to...

US regulator consults on framework for FinTech and Responsible Innovation

The Office of the Comptroller of the Currency (OCC) has published the white paper "Supporting Responsible Innovation in the Federal Banking System". The paper describes the OCC’s vision for responsible innovation in  the federal banking...

SEC awards nearly $2 million to three whistleblowers

The Securities and Exchange Commission today announced the payment of almost $2 million to three whistleblowers. The largest of the three awards will go to...

European Commission unveils EU-U.S. Privacy Shield

The European Commission today issued a Communication summarising the actions taken to restore trust in transatlantic data flows since the 2013 surveillance revelations. The European...

FINRA Approves Enhanced Price Disclosure to Retail Investors in Fixed-Income Securities

The Financial Industry Regulatory Authority's Board of Governors today approved a proposal designed to help retail customers understand and compare transaction costs in fixed-income securities....

SEC publishes Investor Bulletin on Crowdfunding for Investors

The SEC’s Office of Investor Education and Advocacy has issued a Investor Bulletin to educate investors about a new investing opportunity in the form of securities-based...

FINRA bars investment firms VP and Broker Friend in Insider Trading Scheme

The Financial Industry Regulatory Authority (FINRA) announced today that it has barred David Michael Gutman, a Vice President in the conflicts office of J.P. Morgan...

ESMA resumes US CCP recognition process following EU-US agreement

The European Securities and Markets Authority (ESMA) has welcomed the common approach announced today by the European Commission and the US Commodity Futures Trading Commission...

SEC Charges State Street for Pay-to-Play Scheme

The Securities and Exchange Commission today announced that State Street Bank and Trust Company agreed to pay $12 million to settle charges that it conducted...

SEC Charges Goldman Sachs With Improper Securities Lending Practices

The Securities and Exchange Commission today announced that Goldman, Sachs & Co. has agreed to pay $15 million to settle charges that its securities lending...

SEC Announces 2016 Examination Priorities

SEC has today announced its Office of Compliance Inspections and Examinations’ (OCIE) 2016 priorities.  New areas of focus include liquidity controls, public pension advisers, product promotion,...

SEC barres Cohen for supervisory failures of insider trading employee

The Securities and Exchange Commission today announced that hedge fund manager Steven A. Cohen will be prohibited from supervising funds that manage outside money until...

FINRA’s 2016 Focus on Supervision, Liquidity and Securities Firms’ Culture

The Financial Industry Regulatory Authority (FINRA) today released its 2016 Regulatory and Examination Priorities Letter highlighting three broad issues – supervision, risk management and controls;...

CFTC Unanimously Approves Proposed Rule on Automated Trading

The U.S. Commodity Futures Trading Commission (Commission) today unanimously approved proposed rules that mark a comprehensive regulatory response to the evolution of automated trading on...

SEC Adopts Rules to Permit Crowdfunding

The Securities and Exchange Commission today adopted final rules to permit companies to offer and sell securities through crowdfunding.  The Commission also voted to propose...