Results 1-10 of 20
2 August 2019
Many of the world’s largest asset management firms are exploring the potential of crypto-funds, but what are they, what are the risks, how are they regulated, how do you set one up and who has custody of the assets? These were some of the questions discussed...
27 June 2019
Facebook has announced that it is to launch Libra, a global digital currency, backed by some of the biggest names in financial services and tech including Visa, Mastercard, Uber and Spotify. The aim is to provide instant international money transfers by blockchain...
FinCEN Cautions Financial Institutions on North Korea, Iran & Jurisdictions Exhibiting Strategic AML and Terrorist Financing Deficiencies
13 March 2019
The US Financial Crimes Enforcement Network's first "Advisory" of 2019 highlights restrictions on business activity with North Korea and Iran, and notes other jurisdictions with strategic AML and terrorism financing deficiencies. The FinCEN Advisory...
31 January 2019
Technology continues to have an enormous impact on financial services and the pace of change shows no signs of abating. Following the bold predictions we made last year, we highlight the five stand-out trends for fintech in 2019.
Are Your Tokens Outside US Securities Law Jurisdiction? Important Extraterritoriality Decision Handed Down by US District Court
28 September 2018
Token issuers often sell their securities offshore and consider such sales to be exempt from US securities regulation. But this raises the question of location - are the token sales in fact outside the US for securities law purposes? In In re Tezos...
12 July 2018
The US Financial Industry Regulatory Authority ("FINRA") last week published a Regulatory Notice (the "Digital Assets Notice" or "RN 18-20") recommending that FINRA member firms provide information about existing and future business...
26 June 2018
On June 1, 2018, the U.S. Securities and Exchange Commission announced settlements with thirteen investment managers for failure to properly file Form PF. The settlements included a $75,000 civil penalty. These enforcement actions serve as a warning to private...
9 March 2018
Since issuing its "DAO Report" in July 2017, the US Securities and Exchange Commission (the "SEC") has aggressively asserted jurisdiction over the products sold through initial coin offerings ("ICOs"). This week, the SEC issued a "Public...
15 June 2017
On June 12, 2017, the staff of the Division of Investment Management (the “Staff”) of the U.S. Securities and Exchange Commission (the “SEC”) released new guidance in the form of “Frequently Asked Questions” (“FAQs”)...
14 September 2016
On August 25, 2016, the U.S. Securities and Exchange Commission adopted amendments to Form ADV and Rule 204-2 promulgated under the U.S. Investment Advisers Act of 1940, as amended. Originally proposed by the SEC on May 20, 2015, the Amendments make notable changes...