On November 22, 2017, the Division of Enforcement (“Division”) of the Commodity Futures Trading Commission (“CFTC”) released its annual enforcement results, announcing that it had filed 49 enforcement actions for Fiscal Year 2017. Despite the unexpected decrease to the CFTC’s budget, the agency’s enforcement program is on pace to markedly improve upon the number of filings made during Fiscal Year 2017. Since announcing the results, the Division has filed 29 actions thus far in Fiscal Year 2018.
How a company handles an internal investigation of a potentially serious matter can make a significant difference in convincing a regulator to back off from bringing an enforcement action or seeking a big penalty. In-house counsel have a crucial role to play in making strategic decisions concerning the scope of the investigation, handling whistleblowers, protecting attorney-client privilege for the company, interacting with regulators, and deciding whether to hire outside counsel.
Futures Industry Association, 2018, Law & Compliance Conference, Panelist – CFTC Reporting
Tim was the featured speaker on regulatory and compliance developments in the United States at The European Compliance Conference (TECC) 2018 in Warsaw, Poland. TECC is sponsored by the Securities House Compliance Officers Group, an educational group organized by and for international compliance professionals.
Our newly published report, Cryptocurrency Regulatory Developments, is authored by five lawyers in our FinTech & Blockchain Practice.
A comprehensive summary of the regulatory framework applicable to cryptocurrency as it relates to securities issuance and trading, commodity derivatives law issues, federal and state banking laws, litigation, and cybersecurity.