Blog
SEC Acts Against Cryptocurrency Companies
On October 11, 2018, Securities and Exchange Commission (the “SEC”), the SEC issued a press release announcing that it had obtained an emergency court order to stop an Initial Coin Offering (an “ICO”) by Blockvest LLC and its founder, Reginald Buddy Ringgold, III. Among other things, the company claimed that the ICO had been approved by the... Read more »
CFIUS Guidelines for Mandatory Critical Technology Reporting
We previously reported on the updates made to the implementing legislation of the Committee on Foreign Investment in the United States (“CFIUS”) by the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”). Among other things, FIRRMA mandated reporting of transactions that involve acquisition of critical technologies in the United States. On October 11, 2018,... Read more »
FCA Letter on Post-Brexit Booking Arrangements
The U.K. Financial Conduct Authority (the “FCA”) has issued a “Dear CEO” letter on August 8, 2018, in which it makes clear that post-Brexit, the FCA is open to many different booking arrangements to be utilized by regulated U.K. investment firms for booking trades done with or on non-U.K. European firms. We are open to a... Read more »
CFIUS Update Passed by Congress
On August 1, 2018, the U.S. Senate passed the Foreign Investment Risk Review Modernization Act (“FIRRMA”) as part of the Defense Authorization Bill (Title XVII). FIRRMA changes and updates the law setting up the Committee on Foreign Investment in the United States (“CFIUS”), which allowed CFIUS to review certain acquisitions by and mergers with foreign... Read more »