We previously issued a Client Memorandum concerning the impact of certain U.S. Government actions that will affect the markets for securities of certain Chinese issuers.   In this Update, we focus on recent developments concerning Executive Order 13959 addressing transactions in the securities of companies designated as Communist Chinese military companies.

Derivatives and Futures Law Committee Virtual Winter Meeting 2021

Concern and frustration with Chinese companies that do not comply with United States ("U.S.") regulatory standards has resulted in a variety of measures that will have material consequences for the U.S. trading markets for the securities of those issuers.  Among others, U.S. broker-dealers, Alternative Trading Systems ("ATS"), and securities exchanges will need to incorporate trading restrictions into their policies and procedures.

The most-read securities articles written by Law360 guest experts in 2020 centered around market volatility triggered by COVID-19; remote testimony considerations as courtroom proceedings moved online; and risk and compliance issues related to the Coronavirus Aid, Relief and Economic Security Act.

On December 17, 2020, the Commodity Futures Trading Commission (CFTC) released a Digital Assets Primer to provide updated information to the public about emerging concepts in digital assets.

Murphy & McGonigle’s annual blockchain conference, CryptoLex, returns in virtual format to provide an early perspective on the upcoming year for cryptocurrency and blockchain. CryptoLex ’21 will take place on Tues., Jan. 12 (1:00 pm – 3:30 pm EST) and will include speakers from cryptocurrency companies, exchanges, legal and financial services.

As market momentum for bitcoin and blockchain continues to rise, CryptoLex will provide an in-depth look at the latest regulatory developments, litigation trends, and financial services adoption in the growing sector.

This is the fourth edition of CryptoLex, which was first conducted in 2018. The proprietary blockchain conference of Murphy & McGonigle, CryptoLex is conducted by Murphy & McGonigle’s FinTech & Blockchain Practice. To RSVP for CryptoLex, please contact Sarita Lavehim at Slavehim@mmlawus.com.

To view videos of the CryptoLex panels, please… 

Panel #1 https://view.knowledgevision.com/presentation/2b011f73a9e64b00a7be0f87f1c57428
Panel #2 https://view.knowledgevision.com/presentation/bf1bc69f2d7d4608bb9056effa61b48a
Panel #3 https://view.knowledgevision.com/presentation/c9eab587db6e4e0a89bfc011df842a85

For the Conference schedule and featured speakers for CryptoLex ’21, please click on this link. 

In June, Murphy & McGonigle circulated a Client Alert regarding S. 945, a bipartisan bill addressing the audit integrity of foreign issuers trading on United States markets.  On Decemter 2, the House of Representatives unanimously passed S.945.  President Trump is expected to sign the bill.