Acting CFTC Chairman J. Christopher Giancarlo is signaling his intention to increase the agency's market intelligence capabilities by moving certain surveillance functions to the Division of Enforcement, derivatives lawyers told Bloomberg BNA.
Brian Walsh speaks on the possible narrowing of CFTC enforcement under President-Elect Trump.
Brian Walsh was quoted in the Bloomberg BNA article, "Electronic Trading Leading To Data Deluge for CFTC Enforcement."
Brian Walsh was quoted in the Bloomberg BNA article, "Automated Trading Firm Fined By CME Group for Computer Problems."
The Commodity Futures Trading Commission (“Commission”) recently entered an order finding that Coinflip, Inc. d/b/a Derivabit (“Coinflip”), an unregistered Bitcoin options trading platform, and its founder and CEO, Francisco Riordan (“Riordan”) violated Sections 4c(b) and 5h(a)(1) of the Commodity Exchange Act (“CEA”), and Commission Regulations 32.2 and 37.3(a)(1). The action is based on the Commission’s finding, for the first time, that “Bitcoin and other virtual currencies are encompassed in the definition [of ‘commodity’] and are properly defined as commodities.” The Commission made this finding without discussion other than to note that Section 1a(9) of the CEA defines “commodity” to include “all services, rights, and interests in which contracts for future delivery are presently or in the future dealt in.” The Commission did not impose penalties against either respondent.
Murphy & McGonigle, P.C. announced today that Brian Walsh has joined the firm's Washington, D.C. office. Mr. Walsh's arrival enhances the financial services law boutique's ability to serve futures market participants and marks the firm's continued attraction of top litigation and regulatory talent since first opening its doors in 2010.