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2 months ago | 
jdsupra.com | Isabelle Corbett Sterling |Kevin S Edgar |Jonathan Barry Forman
Key Takeaways: President Trump executed a series of Executive Orders (EOs) in the first few days of his presidency to advance United States leadership in digital assets, focusing on reversing harmful policies then establishing effective ones.
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Aug 12, 2024 | 
jdsupra.com | Isabelle Corbett Sterling |Jonathan Barry Forman |Teresa Goody Guillén
On Aug. 7, the U.S. District Court for the Southern District of New York issued its judgment in U.S. Securities and Exchange Commission v. Ripple Labs, Inc., marking the end of district court- level proceedings in the highly watched litigation. While the decision will likely be appealed, the judgment marks a milestone in the case and solidifies key holdings from the Court’s July 13, 2023 summary judgment decision.
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Dec 28, 2023 | 
jdsupra.com | Patrick Campbell |Jonathan Barry Forman |Christina Gotsis
Key Takeaways On December 11, 2023, the U.S. Department of the Treasury (Treasury) released a Fact Sheet[1] noting that it likely will repropose some or all of the provisions of FinCEN’s September 1, 2015, Notice of Proposed Rule Making (2015 NPRM) which proposed to expand the application of the Bank Secrecy Act (BSA) to certain investment advisers (IAs).[2] Opponents of the 2015 NPRM argued that the compliance burden of extending the BSA’s anti-money laundering (AML) rules to IAs outweighed...
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Oct 31, 2023 | 
jdsupra.com | Jonathan Barry Forman |Daniel Kaufman
Key Takeaways Last week, the Federal Trade Commission (FTC or Commission) announced changes to the FTC Safeguards Rule (Rule) that will require nonbank financial institutions to provide notice to the agency within 30 days of discovering a “notification event” affecting more than 500 people.
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Aug 14, 2023 | 
jdsupra.com | Patrick Campbell |Jonathan Barry Forman |Christina Gotsis
Key Takeaways On July 31, 2023, following extensive examination of broker-dealers regarding their anti-money laundering (AML) compliance, the Securities and Exchange Commission’s (SEC) Division of Examinations (Division) released a risk alert recommending that broker-dealers tighten their AML compliance programs.
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Jul 21, 2023 | 
jdsupra.com | Adam Cohen |Jonathan Barry Forman |Michelle N. Tanney
Key Takeaways Since 2022, the U.S. Securities and Exchange Commission (SEC) has proposed several cybersecurity rules applicable to numerous regulated entities that, if adopted, would impose quick notification obligations and heightened disclosure requirements. Amid significant pushback during the public comment period, the SEC announced it would delay issuance of these rules, which are now expected to be finalized in October 2023 and April 2024.
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Jul 17, 2023 | 
jdsupra.com | Lauren Bass |Jonathan Barry Forman |Adam Gale
[1] See e.g., SEC v. Telegram Group, Inc., No. 19-cv-9439 (S.D.N.Y.) and SEC v. Kik Interactive, Inc., No. 19-cv-05244 (S.D.N.Y.) See also BakerHostetler, Telegram: Deconstructing One of the Biggest Blockchain Cases of 2020 JD Supra (Dec. 15, 2020), https://www.jdsupra.com/legalnews/telegram-deconstructing-one-of-the-96977/ ; SEC Wins Case Against Kik and Adds Precedent for Digital Assets, BakerHostetler (Oct.
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Jul 3, 2023 | 
jdsupra.com | Jonathan Barry Forman |Edward Jacobs |James Sherer
Key Takeaways On June 22, 2023, the Securities and Exchange Commission (SEC) published a consent order against J.P. Morgan Securities LLC (JPMorgan) for an alleged failure to retain millions of electronic communications as required by Rule 17a-4 of the Securities Exchange Act of 1934 stemming from the deletion of approximately 47 million electronic communications in about 8,700 retail banking group electronic mailboxes during a data remediation project.
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May 16, 2023 | 
jdsupra.com | Jonathan Barry Forman |Matthew Friedman |George Stamboulidis
Key Takeaways The U.S. Supreme Court unanimously overturned the U.S. Court of Appeals for the Second Circuit’s right-to-control theory as a basis to sustain criminal fraud charges.
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Jan 27, 2023 | 
jdsupra.com | John Carney |Jonathan Barry Forman |Matthew Friedman
Key Takeaways Several insider trading convictions were recently vacated when the Second Circuit revisited the case after direction from the U.S. Supreme Court.[1] Based on the Supreme Court’s decision in Kelly v. United States,[2] the Second Circuit rejected the prosecution’s argument at trial that a governmental agency’s confidential information constitutes “property” or a “thing of value” under Title 18 of the U.S. Code.
