As large financial institutions partner with Fintech start-ups to test blockchain technology, it is no surprise that governments are also experimenting with blockchain to see any potential savings in transaction costs when clearing and settling payments. Recently, the national governments of Canada and the United Kingdom tested the technology. The Central Bank of Canada conducted a trial in conjunction with the New York based start-up R3 CEV, whereby … Read More
Igor Oystacher, the now-infamous trader nicknamed “the Russian,” and his proprietary trading firm, 3Red Trading, informed the Northern District of Illinois on October 19, 2016, that the parties agreed to settle with the CFTC on the agency’s spoofing allegations. The settlement announcement came after Oystacher and 3Red failed to convince the court to dismiss the case in September 2016. Yet, … Read More
Effective Jan. 14, 2017, the U.S. Patent and Trademark Office (USPTO) will be revising its fee schedule. The upcoming changes are set forth in full in this final rule and summarized in this USPTO publication. Most fees will increase, as the USPTO attempts to “align fees with full costs.” At the same time, the changes aim to make electronic filing … Read More
This article discusses how original dance choreography can be protected from imitation, so that choreographers can protect and profit from their creativity and hard work. Prior to the Copyright Act of 1976 (the “Act”), a choreographer’s right to his or her work was uncertain. Since the enactment of the Act, “choreographic works” have been expressly included among the categories of … Read More
When we’re sitting on the couch at home watching TV, it’s easy to forget how much effort and resources went into creating that content. In most circumstances, film production entails a significant investment on the part of the filmmakers and their financiers. These funds, in turn, create jobs and generate revenue. Many state governments have realized the impact that film … Read More
The National Futures Association (NFA) held its first NFA Cybersecurity Workshop on February 2, 2016 in Chicago. The workshop consisted of discussion of NFA Cybersecurity Interpretive Notice to Compliance Rules 2-9, 2-36, and 2-49 entitled Information Systems Security Programs (ISSP) and ISSP policy development. The NFA is requiring CPO’s, CTA’s, IB’s, FCM’s, retail foreign exchange dealers, swap dealers, and major … Read More
Almost daily, headlines are peppered with reports of hackers breaching the cyber defenses of major institutions and governmental bodies, garnering information that could seriously compromise not only the financial well-being of countless individuals but also the financial stability of the nation. Even governmental bodies such as the U.S. Office of Personnel Management are susceptible to unwanted intrusions.  If the … Read More
How can an individual or financial services firm resolve futures and securities disputes? Ziliak Law Partner Michelle M. Comella outlines the options.
FINRA’s 2015 priorities, while often overlapping with those on the SEC OICE’s list, cover an expansive list of topics firms should be sure to review. Ziliak Law Partner Michelle M. Comella and Associate Diona Rogers provide insight.
This is the first of a series on financial regulators’ 2015 examination priorities. The SEC’s priorities focus on three broad topics: 1) protecting retail investors and, in particular, investors saving for retirement; 2) assessing market-wide risks; and 3) identifying and examining potential illegal activity through the use of data analytics. Ziliak Law Partner Michelle M. Comella and Associate Diona Rogers … Read More
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