SEC – Patomak Global Partners

Insights

Spoofing Enforcement Cases and Steps to Protect Your Firm

Securities Laura Magyar, Tim Tian Risk Management & Compliance, Strategy & Advisory

Summary Situation Overview: Domestic and foreign regulators continue to pursue actions against firms for spoofing and market manipulation activities. What: There is a continuing need for vigilance in detecting and preventing spoofing, particularly…

The Future of U.S. Crypto Regulation: Analyzing the CLARITY Act and the RFIA

Derivatives, Digital Assets Harper Swope, Kathy Casey, Sudhir Jain Risk Management & Compliance, Strategy & Advisory

Summary: Context: The U.S. Congress is actively developing a robust regulatory framework to govern digital assets, aiming to provide clarity and stability to the rapidly evolving industry. What: The House of Representatives passed the CLARITY…

Fed Withdrawal of Guidance Marks Milestone for Banks’ Future Crypto Activity

Banking & Consumer Finance, Digital Assets, Securities, Patomak Analysis Sam Canavos, Mona Elliot Strategy & Advisory

Summary: Situation Overview: The federal banking agencies have withdrawn previously issued guidance related to banks’ crypto activities, marking a shift in regulatory posture toward digital asset engagement. What: On April 25, the Federal…

Key Takeaways from SEC Crypto Task Force Custody Roundtable

Digital Assets, Securities, Patomak Analysis Sam Canavos, Cory Jack, Laura Magyar

Summary: Situation Overview: The SEC’s Crypto Task Force is advancing its exploration of regulatory frameworks for digital asset custody. What: The SEC hosted its third roundtable, Know Your Custodian, focusing on challenges and potential…

The Curious Case of the Hidden FAQ

Securities Adam Glazer

SEC staff issued an FAQ regarding consideration of diversity, equity, and inclusion factors by investment advisers when selecting or recommending other investment advisers in compliance with an adviser’s fiduciary duty. The FAQ raises…

Office of the Comptroller of the Currency Orders Blue Ridge Bank to Improve its Third-Party Risk Management

Banking & Consumer Finance Keith Noreika

On August 29, Blue Ridge Bank, National Association, disclosed to the U.S. Securities and Exchange Commission a formal agreement with the Office of the Comptroller of the Currency (OCC). The OCC announced the agreement on October 20, detailing…

FSOC Releases Digital Asset Report, Signaling Increased Future Scrutiny

Digital Assets Chris Beckmann, Robert Greene, Brian Johnson

A recent digital asset report (“Report”) issued by the Financial Stability Oversight Council (“FSOC”) criticized many digital asset market activities and market participants for lacking sufficient risk controls or amplifying financial…

Paul Atkins at the SEC Speaks 2022

News, Patomak Post Patomak Global Partners

From September 8 - 9, the Practicising Law Institute (PLI), in cooperation with the U.S. Securities and Exchange Commission (SEC), will host The SEC Speaks program. This two-day event provides essential updates on the current initiatives and…

SEC Seems Set on Blocking Spot Bitcoin ETPs

Securities Adam Glazer

“We took over this station because the SEC wants to hear from investors like you.” [1] For nearly two months, commuters at Washington D.C.’s Union Station — just steps from the SEC’s offices — were treated to an unusual barrage of…

Paul Atkins and Paul Ray discuss the SEC’s Climate Rule in the Wall Street Journal

Securities Paul Atkins, Paul Ray

Patomak Global Partners' Paul Atkins and Paul Ray took to the Wall Street Journal to discuss the Securities and Exchange Commission's Climate Rule. In this article, they comment on the important step that the Supreme Court took to restore…