The CFTC filed a Complaint with the U.S. District Court for the Southern District of Florida against several unregistered individuals and companies for conducting two fraudulent schemes involving binary options and digital assets.
The New York Attorney General proposed revisions to registration requirements in order to "streamline and enhance" supervision of the securities industry in New York.
The CFTC Division of Swap Dealer and Intermediary Oversight provided temporary exemptive relief to non-U.S. introducing brokers that temporarily fail to register with the CFTC.
The SEC provided conditional compliance relief for registered transfer agents concerning (i) the clearance and settlement of securities transactions; and (ii) the safeguarding of securities and funds.
SIFMA, IIB, ISDA, and FIA recommended changes to CFTC-proposed cross-border regulations concerning registration thresholds and certain requirements applicable to swap dealers and major swap participants.
The U.S. District Court for the Central District of California granted the SEC a default judgment against an unregistered broker-dealer and its CEO for selling unregistered initial coin offering securities.
The SEC final rule to implement exemptions provided under the Rural Business Investment Companies Advisers Relief Act of 2018 was published in the Federal Register. The effective date for the final rule is March 10, 2020.
The CFTC adopted rule amendments to codify the agency's process for terminating exemptive relief granted to non-U.S. firms in order to offer non-U.S. futures and options directly to U.S. customers.
The SEC adopted rule amendments to the Investment Advisers Act to implement exemptions provided under the Rural Business Investment Companies Advisers Relief Act of 2018.
CFTC Division of Swap Dealer and Intermediary Oversight Director Joshua B. Sterling highlighted registration and disclosure requirements for firms involved in commodity pool offerings.
On July 25, 2019, the SEC Division of Corporation Finance granted no-action relief from provisions of the Securities Act in order to simplify the usage of purchased units of value on online gaming platforms.
SEC Commissioner Hester M. Peirce proposed establishing a three-year safe harbor from the securities laws, other than the anti-fraud requirements, for the sale and trading of digital tokens that satisfy various conditions.
The SEC final rules governing security-based swap activity in a cross-border context and the associated deadlines were published in the Federal Register. The compliance date for registration of SBSDs will be October 6, 2021.
The CFTC-proposed new cross-border rules governing registration requirements applicable to swap dealers and major swap participants were published in the Federal Register.
Regulation Best Interest significantly expands the obligations that broker-dealers owe to retail investors. To assist in navigating these new requirements, the Cabinet produced four new Retail Best Interest Topic Pages.
The CFTC voted to (i) approve a final rule amending regulations governing derivatives clearing organizations, (ii) propose a prohibition on "post-trade name give-up" at swap execution facilities and (iii) propose new cross-border rules governing registration requirements applicable to swap dealers and major swap participants.
The CFTC final rule amendments incorporating staff guidance on CPO and CTA registration and reporting requirements were published in the Federal Register.
The CFTC approved final rule amendments to simplify regulatory obligations for CPOs and CTAs by codifying certain staff advisories and no-action letter relief.
