Blockchain Unconference – by the WTIA Cascadia Blockchain Council
Free to register: https://www.eventbrite.com/e/blockchain-unconference-tickets-114448921806
October 14, 2020 9:00 am – 1:30 pm
Valerie Dahiya and Lowell Ness present “Tokenized Securities” – which can be viewed below:
The staff (“Staff”) of the Division of Trading and Markets of the U.S. Securities and Exchange Commission (SEC) issued a no-action letter (NAL) at the request of the Financial Industry Regulatory Authority (FINRA) on September 25, 2020, which built upon a joint statement (“Joint Statement”) issued by the staffs of the SEC and FINRA in 2019 (please see our prior client update for additional discussion of this 2019 guidance). As part of its guidance, the Joint Statement provided an example of a noncustodial business model for broker-dealers that involved the operation of an alternative trading system (ATS). Upon a request by FINRA on behalf of its broker-dealer members, the NAL provides modified relief for ATSs that meet certain conditions, enabling them to settle digital asset security trades under a slightly modified structure designed to reduce operational and settlement risks.
Continue Reading SEC Staff Provides Relief on the Role of ATSs in the Settlement of Digital Asset Security Trades
The Perkins Coie Digital Asset Timeline has been updated from this version, you can find the most up-to-date version here.
Perkins Coie LLP is pleased to bring you this updated Digital Asset SEC Timeline.
The Digital Asset SEC Timeline serves as an interactive compilation of select SEC guidance, enforcement actions, and speeches relating to
Please note that the Digital Asset SEC Timeline has since been updated. To find the most recent version, updated April 2021, please click here.
Perkins Coie LLP is pleased to bring you this updated Digital Asset SEC Timeline. This latest update includes recent settlement from the SEC In the Matter of BitClave PTE
On April 28, 2020, the U.S. Securities and Exchange Commission (“SEC”) filed a complaint against a company and its chief executive officer (“CEO”) for alleged fraud in connection with the company’s stated response to the COVID-19 pandemic. In its complaint, the SEC alleged that the company issued two press releases containing false or misleading statements in which the company purported to be negotiating the sale of N95 masks and then made claims that it was in possession of N95 masks. After regulators inquired about these claims, the SEC alleged that the company issued a third press release a month later that it did not have any N95 masks on hand. The complaint asserts that the company’s stock trading volume and stock price increased significantly as a result of the initial press releases.
Continue Reading SEC Alleges COVID-19 Related Fraud by a Company after Suspending Trading
Please note that the Digital Asset SEC Timeline has since been updated. To find the most recent version, updated April 2021, please click here.
Perkins Coie LLP is pleased to bring you this updated Digital Asset SEC Timeline. This update includes the newest edition posted on March 24, 2020 which highlights the Second
In the midst of the COVID-19 pandemic, the financial markets have experienced significant volatility. During the course of this volatility, exchanges have halted trading multiple times after declines in trading trigged circuit breakers. In addition, trading floors are transitioning to electronic trading in efforts to prevent the transmission of COVID-19 on physical trading floors. With the recent turmoil, this post provides a high-level summary of the various types of circuit breakers and what can be expected.
Continue Reading Understanding Circuit Breakers, Our New Reality, in the Time of COVID-19
On March 9, 2020, FINRA released Regulatory Notice 20-08 (the “Regulatory Notice”) providing guidance and limited relief to its member broker-dealers during the COVID-19 pandemic. In particular, the Regulatory Notice requests that broker-dealers evaluate their compliance with FINRA Rule 4370, which requires broker-dealers to create, maintain, and update upon any material change, BCPs (Business Continuity Plans) identifying procedures relating to emergency or significant business disruption.
Continue Reading FINRA Issues Notice Regarding Business Continuity Planning During COVID-19 Outbreak
The timeline has since been updated. To find the most recent version, updated April 2021, please click here.
Perkins Coie LLP is pleased to bring you this Digital Asset SEC Timeline. This Timeline is an interactive compilation of select SEC guidance, enforcement actions, and speeches relating to the application of the federal securities
The U.S. Securities and Exchange Commission (SEC) Strategic Hub for Innovation and Financial Technology (FinHub) published a framework on April 3, 2019, for analyzing whether a digital asset is offered and sold as a security under the federal securities laws.
The framework includes “common sense guidance” that provides greater detail and clarity regarding the application