Overstock DAO

Julianne DardanesMarket Rules & Responsibilities0 Comments

overstock-com-blockchain-cryptocurrency

On September 27th Overstock.com’s blockchain-focused investment subsidiary Medici Ventures announced that its very own alternative trading system (ATS) will be open for business for any initial coin offering (ICO) in need of a new place to trade per the new SEC guidelines. This platform was initiated via a joint venture between Medici’s capital markets branch tØ along with RenGen LLC and Argon Group and will operate under the regulation of FINRA and the SEC.
Read More

Bitcoin Cash Fork

Julianne DardanesMarket Rules & Responsibilities0 Comments

bitcoin-cash

The controversial birth of Bitcoin Cash on August 1 has created a fundamental crossroads for both the users of the popular cryptocurrency along with its underlying technology. What could amount to trillion dollar questions are now being asked about the future of Bitcoin that are as much philosophical in nature as they are practical in application.
Read More

CBOE Boards the Cryptocurrency Train

Julianne DardanesFirm News, Market Rules & Responsibilities

CBOE-bitcoin-options

On August 2nd, the Chicago Board Options Exchange (CBOE) launched itself into the Bitcoin market worth tens of billions of dollars via an announcement that left many of the cryptocurrency’s users jumping for joy. This announcement revealed that the CBOE has entered into an exclusive global license with Gemini Trust Company to use Gemini’s Bitcoin market data to create new indices and to redistribute Gemini’s market data over the CBOE’s market data feeds. The CBOE also plans to use Gemini’s data to develop Bitcoin futures, which it expects to list on the CBOE Futures Exchange (CFE) in late 2017 or early 2018.Read More

FinTech Events, Chicago Style

Jess GoodwinFirm News

chicago-fintech-events

FinTech is an umbrella term for technology innovation that disrupts trading, banking, insurance, and more in the financial services industry. From hedge funds and startups to big banks, Chicago has a deep bench of FinTech businesses collaborating and competing to create the most efficient financial services. The city has embraced FinTech’s expanding role in its already robust financial services industry by offering a plethora of events for businesses and individuals in the space.
Read More

Fundraising While Female: Crowdfunding Campaigns vs. Seeking Venture Capital

WebContentFirm News

women-crowdfunding-vs-venture-capital

When growing and fundraising for a business, there are many boundaries to overcome for both men and women. However, recent studies show that women specifically face more difficulties raising money through traditional fundraising channels, and the gender gap in venture capital funding is getting worse. Stories of sexual harassment and discrimination towards female founders from venture capitalists (VC’s) also abound in the news. Read More

48 Hour Film Project: Chicago Edition

WebContentFirm News

48-hour-film-project-chicago

On August 25, the 48 Hour Film Project is issuing a challenge to all of Chicago’s creatives: create a short film in only 48 hours! The winning film will go on to compete “against films from around the world at Filmapalooza 2018 for a chance at the grand prize and an opportunity to screen at the Cannes Film Festival 2018 Short Film Corner,” in addition to a trophy and Movie Magic Screenwriter Software 6.Read More

New Equity Crowdfunding Rules: Expanded Options for Intrastate Fundraising

Zach ZiliakMarket Rules & Responsibilities

Expanded-Intrastate-Offering-Options

The Jumpstart Our Business Startups Act (JOBS Act) of 2012 created the promise of widespread crowdfunding of new business ventures.  While non-equity crowdfunding options like Kickstarter and Indiegogo had been around for years, companies could not entice investors with a share of their businesses without completing extensive disclosures, limiting their offers to accredited investors, or capping the size of their fundraising rounds to fit within various exemptions from registration as required by the Securities Act of 1933.  Now, however, businesses would be able to raise capital from a large number of investors beyond the traditional “Reg D” investors and without many of the onerous disclosures that are otherwise required of companies issuing securities, all because of these new equity crowdfunding rules. Read More

OCIE Publishes Examination Priorities for 2017

Emily HayesBest Practices, Market Rules & Responsibilities

ocie-examination-priorities-2017

Earlier this year, the SEC’s Office of Compliance Inspections and Examinations (OCIE) released its Examination Priorities for 2017.  OCIE annually examines regulated entities[1] to ensure compliance, prevent fraud, identify risk, and inform policy.  These priorities reflect the practices, products, and services that, per OCIE, present the greatest risks to investors and U.S. capital markets.  Regulated entities may use the priorities to prepare for their own OCIE examinations and update their internal compliance and supervisory rules and procedures; however, the priorities do not constitute legal advice. Read More

CFTC Extends Deadline to Comply with March 1st Variation Margin Requirements

Emily HayesBest Practices, Market Rules & Responsibilities

cftc-regulations-swaps

On February 13, 2017 the Commodity Futures Trading Commission delivered an early Valentine’s Day present to swap dealers and major swap participants by extending the deadline to comply with the variation margin requirements for un-cleared swaps stipulated by Commission Regulation § 23.153 from March 1, 2017 to September 1, 2017.[1]  The CFTC’s No-Action Letter announcing this extension, CFTC Letter No. 17-11, applies only to swap dealers and major swap participants without a prudential regulator.[2]Read More

FINRA’s 2017 Regulatory and Examination Priorities

Emily HayesBest Practices, Market Rules & Responsibilities

FINRAs-2017-regulatory-examination-priorities

Earlier this year, FINRA published its Annual Regulatory and Examination Priorities Letter to provide the industry with insights into the areas FINRA plans to review in its 2017 exams and to assist financial firms with reviewing and strengthening their own supervisory and compliance systems.  The letter states five priority areas the authority will focus on in its 2017 exams with a common theme of the industry’s need to focus on what FINRA President Robert Cook terms “core ‘blocking and tackling’ issues of compliance, supervision and risk management.”Read More