Blog
California Consumer Privacy Act to Go Into Effect January 1, 2020
On January 1, 2020, the California Consumer Privacy Act (the “CCPA”) will go into effect as previously reported. The law will largely set the standard for data privacy in the United States as it will apply not just to California businesses over certain thresholds but to all businesses that do business in California, including internet... Read more »
CFTC, FinCen and SEC Joint “Reminder” to Cryptocurrency World of AML Requirements
On October 11, 2019, the Commodity Futures Trading Commission (the “CFTC”), the Financial Crimes Enforcement Network (“FinCen”) of the U.S. Treasury and the Securities and Exchange Commission (the “SEC”) issued a joint statement reminding “persons engaged in activities involving digital assets of their anti-money laundering and countering of financing of terrorism (“AML/CFT”) obligations under the... Read more »
UK Financial Conduct Authority to Act as AML and Counter-Terrorist Supervisor for Cryptoasset Businesses
The UK Financial Conduct Authority has announced on a website that it has been appointed to be the anti-money laundering and counter terrorist financing supervisor for UK cryptoasset businesses under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 from January 10, 2020. Although the definition of cryptoasset businesses has... Read more »
Second Circuit Find Private Right of Action to Rescind Contracts Under Investment Company Act
The Second Circuit has created a split with the Third and Ninth Circuits by finding that Section 47(b) of the Investment Company Act provides plaintiffs an implied private right of action with regard to contracts, and the plaintiffs in that case could therefore seek rescission of the contracts in the form of junior notes. This... Read more »