On May 9, 2019, the Financial Crimes Enforcement Network of the U.S. Department of the Treasury (FinCEN) issued “interpretive guidance” addressing how FinCEN’s money services business (MSB) regulations apply to
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SEC Approves Final Regulation Best Interest, Form CRS
On June 5, 2019, the Securities and Exchange Commission (SEC) voted 3-1 to adopt a series of proposals intended to “substantially enhance” the standards of conduct for financial professionals.
First…
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SEC Proposes Changes to the Financial Statement Requirements Relating to Acquisitions and Dispositions of Businesses
On May 3, 2019, the Securities and Exchange Commission (SEC) proposed amendments to the financial disclosure requirements in Rule 3-05 (Acquired Company Financial Information), Rule 3-14 (Real Estate Operations), and…
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Proposed Amendment to Japanese Crypto Asset Laws
A bill to amend the Japanese laws regulating cryptocurrency exchange businesses or financial instruments transactions, including the Act on Settlement of Funds (Settlement Act) and the Financial Instruments and Exchange…
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Illinois Supreme Court Rules Annuities Are Not Securities Under Illinois Securities Act
On March 21, 2019, in Van Dyke v. Jesse White, the Illinois Supreme Court issued a long-awaited opinion relating to Illinois Securities Department authority to regulate annuities under the…
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SEC Guidance on Exhibit Redactions For Immaterial, Competitively Harmful Information
On April 1, 2019, the SEC provided additional guidance relating to its new rules that permit companies to file redacted material contracts without applying for confidential treatment of the redacted…
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UK Review of the Bribery Act 2010 – Committee Concludes New Guidance Needed
In 2018 the House of Lords announced it would set up an ad hoc Select Committee to conduct a post-legislative review of the Bribery Act 2010. Greenberg Traurig Shareholder Anne-Marie…
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CFTC and NFA Commodities Regulatory Update
Departing from its historical practice but following the approach taken by the SEC and FINRA, the Commodity Futures Trading Commission (CFTC) on Feb. 12, 2019, announced its first release of …
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Colorado Digital Token Act Exempts Certain Cryptocurrency Transactions From Colorado Securities Laws
Colorado recently passed legislation that will facilitate the sale and transfer of digital tokens in Colorado. Under the Digital Token Act, Colorado businesses will be permitted to effect transactions involving…
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FINRA’s 2019 Risk Monitoring and Examination Priorities Letter
On Jan. 22, 2019, the Financial Industry Regulatory Authority (FINRA) released its 14th Annual Risk Monitoring and Examination Priorities Letter, where it identifies its areas of examination focus for…
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