Financial Services Blog
- Blog: Waller Law BlogSEC Chairman Issues Personal Statement on ICOs in Wake of SEC Enforcement ActionsPosted on December 12, 2017 by Marc J. AdessoOn December 11, 2017, the SEC’s Cyber Unit issued a cease and desist order halting an utility token-based initial coin offering (“ICO”) one day after the launch of the ICO. On the same day, SEC Chairman Jay Clayton issued a personal statement stating that Mr. Clayton believes that ICOs “can be effective ways for entrepreneurs and others to raise funding, including for innovative projects,” while simultaneously
- Blog: Broker-Dealer Law CornerFINRA Examiners Are Like A Box Of Chocolates . . .Posted on December 4, 2017 by Michael GrossMichael discusses the differences in examiners — and, potentially — examination results from District Office to District Office. Remember, however, that such differences aren’t supposed to exist! That’s why the Office of Disciplinary Affairs exists. I suppose the question is whether the ODA is doing its appointed task of achieving consistency throughout FINRA. – Alan My...… Continue Reading
- Blog: TSMP ForefrontHousing The MillennialsPosted on December 4, 2017 by Understanding the Gen Y mindset is crucial to riding the next wave of property sales.
- Blog: NextGen Financial Services ReportWhile CFPB Leadership Fight Continues, Broader Questions Remain About Future of Consumer Financial RegulationPosted on November 30, 2017 by Erin F. Fonté, Elizabeth A. Khalil and Brenna E. McGeeIt has been a tumultuous few days for the Consumer Financial Protection Bureau (CFPB), with dueling acting directors and emergency hearings. But while Office of Management and Budget (OMB) Director Mick Mulvaney is now officially the acting director of the CFPB—at least as of this writing—the story does not end there. Many questions remain to...Continue Reading…
- Blog: Banking on This: Spilman Mortgage & Consumer Banking ReportFinding a Cure: The required time period to permit a defendant to cure consumer protection violations may be satisfied by the time it takes parties to brief a motionPosted on November 27, 2017 by Spilman AdministratorOn July 4, 2017, amendments to the West Virginia Consumer Credit and Protection Act (“WVCCPA”) took effect. One of those amendments requires a potential plaintiff to give a creditor or collector notice of alleged violations under the statute before the potential plaintiff can file a lawsuit against them. They then have 20 days to make […]
- Blog: Antitrust UpdateIndirect Purchasers Cannot Sue Qualcomm Under Federal Law, But State Law Claims SurvivePosted on November 21, 2017 by Kathrina Szymborski, Jonathan H. HatchA federal judge in California has refused to allow indirect purchasers of semiconductor chips—i.e., cell phone consumers—to bring claims against Qualcomm under federal antitrust law. Plaintiffs allege Qualcomm’s patent licensing practices are anticompetitive and constitute an abuse of Qualcomm’s dominant position in the supply of semiconductor chips. As a result of these practices, plaintiffs say, [...]