Monthly Archives: January 2018

Regulators Are Looking at Cryptocurrency – WSJ

Distributed ledger technology, or DLT, is the advancement that underpins an array of new financial products, including cryptocurrencies and digital payment services. Many have identified DLT as the next great driver of economic efficiency. Some have even compared it to productivity-driving innovations such as the steam engine and personal computer. Our task, as market regulators, is to set and enforce…

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Joel Athey joins DLA Piper’s Litigation practice in Los Angeles | DLA Piper Global Law Firm

Athey, who previously served as the managing partner of Holland & Knight LLP’s Los Angeles office, focuses his practice on white collar criminal defense, US Securities and Exchange Commission enforcement, private securities litigation, internal corporate investigations, banking and regulatory investigations and litigations, consumer protection matters and complex civil litigation. via Joel Athey joins DLA Piper’s Litigation practice in Los Angeles…

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SEC.gov | Six Accountants Charged with Using Leaked Confidential PCAOB Data in Quest to Improve Inspection Results for KPMG

The SEC’s Division of Enforcement and Office of the Chief Accountant allege that the former PCAOB officials made unauthorized disclosures of PCAOB plans for inspections of KPMG audits, enabling the former KPMG partners to analyze and revise audit workpapers in an effort to avoid negative findings by the PCAOB. Two of the former PCAOB officials had left the PCAOB to work at…

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Insider dealing has gone on unpunished, lawyers claim | The Times & The Sunday Times

Financial watchdogs have been distracted by benchmark rate manipulation and have taken their eyes off more run-of-the-mill cases of insider dealing, lawyers have said. Reacting to figures revealed by The Times on Friday showing that white-collar criminals had been acting with impunity, legal experts argued that the Financial Conduct Authority had sacrificed other investigations while focusing on Libor and Euribor…

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SEC Operating Status — SEC.gov

Should there be a federal government shutdown after January 19, the SEC will remain open for a limited number of days, fully staffed and focused on the agency’s mission. Any changes to the SEC’s operational status will be announced here. In the event that the SEC does shut down, we will pursue the agency’s plan for operating during a shutdown.…

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SEC.gov | Joint Statement by SEC and CFTC Enforcement Directors Regarding Virtual Currency Enforcement Actions

“When market participants engage in fraud under the guise of offering digital instruments – whether characterized as virtual currencies, coins, tokens, or the like – the SEC and the CFTC will look beyond form, examine the substance of the activity and prosecute violations of the federal securities and commodities laws. The Divisions of Enforcement for the SEC and CFTC will…

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FINRA’s Budget, Released for First Time, Shows Revenue Problems

“FINRA is to be applauded for an unprecedented level of transparency into its budgeting process and financial challenges,” Brad Bennett, former FINRA enforcement chief who’s now a partner at Baker Botts in Washington, told ThinkAdvisor. “The 2018 budget underscores the magnitude of the operational hurdles faced by FINRA and the need for significant belt tightening,” Bennett adds, pointing to the…

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