Murphy & McGonigle, P.C., a leading provider of legal services to the financial services industry, has launched a dedicated website to track the U.S. Department of the Treasury’s new recommendations that seek to reform capital markets regulation.
Murphy & McGonigle, P.C. announced today that Carol Elder Bruce has joined the firm as a shareholder in its Washington, D.C. office. Ms. Bruce’s arrival continues the strong trend of top litigation and regulatory talent joining the financial services law firm that was founded in 2010.
The regulatory implications of blockchain technology and cryptocurrency were debated this morning at a meeting of the SEC Investor Advisory Committee. The Committee was established by the Dodd-Frank Act to advise the Commission on issues affecting investors and the securities market, and is empowered to make findings and recommendations to the Commission concerning regulatory priorities. This morning’s meeting included a panel on distributed ledger technology (“DLT”), including cryptocurrencies and blockchain technology. Panelists included Michael Bodson, President and CEO of DTCC; Fredrik Voss, VP of Blockchain Innovation at Nasdaq; Jeff Bandman of Bandman Advisors; Nancy Liao of Yale University; and Adam Ludwin, CEO of Chain Inc.
Howard Kramer Comments - Early this year FINRA released a thoughtful white paper (or concept release) on distributed ledger technology (“DLT”), also referred to as blockchain, and its implications for securities regulation. The white paper provided an overview of DLT and its securities industry applications and potential impact. It also described the factors to consider when implementing DLT and the attendant regulatory considerations.
Murphy & McGonigle, P.C. is pleased to announce that Sharon O’Shaughnessy will receive a Certificate of Recognition for her distinguished pro bono service to the New York State Courts Access to Justice Program at an October 26, 2017 ceremony hosted by the New York State Unified Court System Office for Justice Initiatives, New York State Bar Association, and New York County Lawyers’ Association.
Try as one may, no one has developed a bright line state or federal rule of law on spoliation of tangible and electronic evidence by named and non-named parties. In an effort to create some uniformity, the Federal Rules of Civil Procedure (“FRCP”), particularly FRCP Rule 37(c)(1), enumerate a myriad of possible sanctions that courts may issue to address the failure to disclose discoverable information. However, the FRCP offers little, if any, guidance on how to treat spoliation by non-named parties who are not required to cooperate in discovery unless they are subject to a subpoena.