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Federal Jury Finds Cryptocurrency Products Not Securities in Landmark Verdict

USA - November 18 2021 On November 2, 2021, a federal jury in Audet v. Fraser found that four cryptocurrency-related products were not securities under the Securities…

Robin Linsenmayer, Jonathan Ashtor, Susanna M. Buergel, Kristina Bunting, Jessica S. Carey, Geoffrey R. Chepiga, Meredith Dearborn, Andrew J. Ehrlich, Michael E. Gertzman, EMILY M. GLAVIN, Carly Lagrotteria, Jane B. O'Brien, Raphael M. Russo, Daniel S. Sinnreich, Audra J. Soloway

Mashreqbank Reaches $100 Million Resolution with NY DFS for Historical Sanctions Violations; Fed and OFAC Also Take Action

USA - November 15 2021 On November 9, 2021, Mashreqbank, PSC (“Mashreqbank” or the “Bank”) reached a $100 million multi-agency resolution with the New York State Department…

H. Christopher Boehning, Jessica S. Carey, Richard S. Elliott, Rachel Fiorill, Christopher D. Frey, Michael E. Gertzman, Brad S. Karp, Jacobus J. Schutte, Sylvia Sui

FTC Updates Safeguards Rule for Consumer Financial Information

USA - November 11 2021 On October 27, 2021, the Federal Trade Commission (“FTC”) announced updates to the Standards for Safeguarding Customer Information (“Safeguards Rule”…

Robin Linsenmayer, Michael E. Gertzman, EMILY M. GLAVIN, Steven C. Herzog, Cole A. Rabinowitz, Jeannie S. Rhee, Rosie Vail, Simona Xu

FATF “Gray Lists” Turkey, Citing Concerns with Turkey’s Banking and Real Estate Sectors and Potential Terrorism Financing

USA - November 10 2021 In a significant move, the Financial Action Task Force (“FATF”), the international anti-money laundering body tasked with developing policies to…

H. Christopher Boehning, Jessica S. Carey, Richard S. Elliott, Rachel Fiorill, Christopher D. Frey, Michael E. Gertzman, Brad S. Karp, Jacobus J. Schutte, Joshua R. Thompson

Federal Regulators’ Report Recommends Urgent Legislation to Regulate Stablecoins

USA - November 8 2021 On November 1, 2021, the President’s Working Group on Financial Markets (comprised of Treasury, Federal Reserve, SEC and CFTC), the FDIC and the OCC…

Jonathan Ashtor, Jessica S. Carey, Manuel S. Frey, Michael E. Gertzman, David S. Huntington, Brad S. Karp, Carly Lagrotteria, Loretta E. Lynch