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  • SEC Charges Unregistered Penny Stock Dealer

    Date 24/03/2020

    The Securities and Exchange Commission today announced charges against Justin W. Keener d/b/a JMJ Financial for failing to register as a securities dealer with the SEC. Keener allegedly bought and sold billions of newly issued shares of penny stock, generating millions of dollars in profits.


  • Statement Of CFTC Commissioner Rostin Behnam Regarding COVID-19 And CFTC Digital Assets Rulemaking

    Date 24/03/2020

    We are collectively facing uncertainty in all aspects of our personal and professional lives as a result of COVID-19, and I am confident we will get through these trying times.  While I voted to approve today’s action in connection with digital assets, as a financial leader, I believe the Commodity Futures Trading Commission (“CFTC”) should instead solely focus on mission critical matters that address the real and rapidly developing challenges that our financial markets, the economy, and the American public are now facing on a daily basis.

  • Federal Reserve Board Announces Implementation Delay For Changes To Its Payment System Risk Policy Regarding Intraday Credit

    Date 24/03/2020

    The Federal Reserve Board on Tuesday announced a six-month delay in the planned implementation of policy changes to procedures governing the provision of intraday credit to U.S. branches and agencies of foreign banking organizations (FBOs).

  • Statement Of CFTC Commissioner Brian Quintenz In Support Of Final Interpretive Guidance: Retail Commodity Transactions Involving Certain Digital Assets

    Date 24/03/2020

    I support today’s final interpretive guidance regarding when “actual delivery” has occurred in the context of transactions with retail customers entered into on a leveraged, financed, or margined basis involving digital assets that are, or can be, used as a medium of exchange.  In the past, the Commission has seen platforms offering retail customers the ability to enter into margined or financed transactions on all manner of commodities–foreign currencies, precious metals, for example–that are repeatedly rolled, offset against, or cashed out. Platforms offering digital assets to retail customers on a margined basis are the latest iteration of this activity.

  • Update On Ontario Securities Commission Operations In Response To COVID-19

    Date 24/03/2020

    The Government of Ontario has announced an order requiring the mandatory closure of all non-essential workplaces effective Tuesday, March 24th at 11:59 p.m. Under the order, workplaces engaged in capital markets activities are considered to provide essential services and can remain open. As such, Ontario Securities Commission (OSC) staff continue to operate at the level necessary to deliver crucial services to the market and to protect Ontario investors.