A week of “firsts” in cryptocurrency prosecution
Posted on Sep 17, 2018 in Financial Services, Litigation, Regulation, Securities & Corporate Governance | Comments Off on A week of “firsts” in cryptocurrency prosecution
On September 11, 2018, a number of “firsts” occurred in the prosecution of cryptocurrency-related activities at the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and federal district court that will likely become the norm going forward. The SEC announced its first enforcement action for an investment company registration violation...
Protecting your assets Block and tackle—unclaimed property and cryptocurrency
Posted on May 15, 2018 in Financial Services, Litigation, Securities & Corporate Governance | Comments Off on Protecting your assets Block and tackle—unclaimed property and cryptocurrency
As promoters of cryptocurrencies and digital-asset exchanges face intense scrutiny from tax, securities and other financial services regulators, they will soon have to contend with unclaimed property (or escheat) laws in the United States. This article explores how these laws could apply to cryptocurrency exchanges, hosted wallets, and other market participants, such as banks,...
It’s a material world—why the SEC’s Yahoo! penalty really matters
Posted on May 4, 2018 in Cybersecurity, Data Privacy | Comments Off on It’s a material world—why the SEC’s Yahoo! penalty really matters
Determining whether to notify when struck by a cyberattack can be a complex undertaking, but the SEC’s recent $35 million penalty levied on Yahoo! Inc. for untimely disclosure of its breach raises the stakes for corporations. The need for a proactive, well-thought out regulatory notification strategy, and an awareness of the dangers of default non-disclosure positions, has never been...
The SEC wants companies to talk about cybersecurity
Posted on Mar 8, 2018 in Cybersecurity, Financial Services, Regulation, Securities & Corporate Governance | Comments Off on The SEC wants companies to talk about cybersecurity
On February 21, 2018, the Securities and Exchange Commission issued an interpretive release providing important guidance to certain registrants on cybersecurity disclosure. The guidance makes clear its view that material risks or incidents related to cybersecurity fall within a company’s ongoing obligation to disclose material information in current and periodic reports. The guidance...
Insurers May Not be Able to Avoid Blockchain, Virtual Currencies ‘Sweeping Through Industry’
Posted on Feb 14, 2018 in Cybersecurity, Energy and Infrastructure, Insurance | Comments Off on Insurers May Not be Able to Avoid Blockchain, Virtual Currencies ‘Sweeping Through Industry’
Virtual currency, such as bitcoin, is an unregulated digital form of currency that can be used as a substitute for legally recognized currency and eliminates the so-called “middle-man,” which includes banks and clearing houses. Learn more.
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