In Allen v. Cooper, No. 18-877, slip op. (U.S. March 23, 2020), the Supreme Court held that a 1990 statute permitting copyright holders to sue States for infringement was unconstitutional under the Eleventh Amendment and sovereign immunity.
In Allen v. Cooper, No. 18-877, slip op. (U.S. March 23, 2020), the Supreme Court held that a 1990 statute permitting copyright holders to sue States for infringement was unconstitutional under the Eleventh Amendment and sovereign immunity.
On April 25, 2019, the New York Office of the Attorney General (“OAG”) announced that it obtained a court order against the operators of Bitfinex[note]Here, “Bitfinex” refers to the online platform and is operators, iFinex Inc., BFXNA Inc., and BFXWW Inc.[/note] demanding the online digital asset exchange turn over a plethora of important documents related to […]
Earlier this summer, the U.S. Supreme Court ruled that the SEC used unconstitutional methods to hire Administrative Law Judges. In a highly anticipated decision, the U.S. Supreme Court ruled in Lucia v. SEC, 138 S. Ct. 2044 (2018), that the Administrative Law Judges (“ALJs”) of the Securities and Exchange Commission (“SEC”) are inferior Officers of […]
Citigroup Global Markets Inc. (Citi) settled with the Commodity Futures Trading Commission (CFTC) on January 19, 2017 over the CFTC’s allegations that five traders at Citi “spoofed” the U.S. Treasury futures markets and that Citi failed to supervise the trading activity of its employees. Pursuant to the Order, Citi must pay a fine of $25,000,000 […]
Last June British voters shocked the world by answering affirmatively to a referendum that, if acted on, would remove the United Kingdom from the European Union. The political and economic implications of this decision were and still remain largely unknown, but we outlined some of the possibilities in our initial post about this topic over […]
On Wednesday, November 9, 2016, Navinder Sarao pled guilty to spoofing and wire fraud before Judge Virginia Kendall in the Northern District of Illinois. After unsuccessfully fighting his extradition from the UK, Sarao became the second person found liable for violating Dodd-Frank’s anti-spoofing statute after Michael Coscia was convicted last year.
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 […]
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 […]
In the words of famous English rock band The Clash, Britain has been asking itself “should I stay or should I go?” for the past ten months now – the relationship in question being its affair with the European Union. After a year-long campaign on both sides of the coin to determine the country’s political and economic future, the U.K. finally voted to call it quits. But, as we all know, […]
Ziliak Law Associate Matthew Tobin wrote an article for Law360 on the Supreme Court's key jurisdiction question in Manning. Below is an excerpt; the full article is on Law360's website, which is behind a paywall. Law360, New York (September 1, 2015, 10:55 AM ET) -- To resolve a long-standing circuit split over the scope of […]