Doug Cornelius on compliance for private equity real estate
Crypto Currency can be a Commodity A federal judge in Massachusetts agreed with the Commodity Futures Trading Commission’s view that virtual currencies are commodities under the Commodity Exchange Act and subject to federal regulation. See CFTC v. My Big Coin Pay, Inc., (D. Mass. Sept. 26, 2018). The CFTC sued a virtual currency company and several … Read more »
These are some of the other compliance-related stories that recently caught my attention. Time to Renew Registrations for RIAs and BDs; SEC Allows Mutual Fund Boards to Rely on CCOs, and NFA kicks out Members for Failure to Pay Dues: Regulatory Update for November 1, 2018 by Hardin Compliance Consulting LLC Annual Renewal Program for … Read more »
The Securities and Exchange Commission has the same problem as any compliance professional: “How do you prove you’re being effective?” The Enforcement Division issued its annual report of its ongoing efforts to protect investors and market integrity. On one hand, remedying the identified harms committed by bad actors on investors is easy to measure. The missing piece is … Read more »
The Securities and Exchange Commission says “no.” My first question is what is a mutual water water company? From my view here in New England water comes from the municipality or your own well. California is big and creating whole new communities. In this case, the Tesoro Viejo Master Mutual Water Company is being formed … Read more »
It’s election day. Make sure you vote today. Only 42% of registered Americans came out to vote in the 2014 midterms. The numbers get even worse when you look at millennials, only about 20% of millennials showed up in the last two midterm elections. Add in the vast number of unregistered voters and you have a lot of government … Read more »
>The Trump Administration took great pride in tearing up the North American Free Trade Agreement and imposing a new framework for trade between the United States, Mexico, and Canada. Of course it had to be re-branded, with “America First”, as the US-Mexico-Canada Agreement. This refreshed version of NAFTA includes some increased labor protections for workers, … Read more »
I will sound like an obnoxious Boston Sports Fan this morning. Boston is back to being a championship city with the Red Sox winning the World Series. As an announcer said, it’s been five years since they won the World Series. Switching sports, it’s only been one season since the New England Patriots won the … Read more »
The old-fashioned telephone turns out to be a way to hack into other people’s accounts. Voya Financial was the victim of cybercriminals using their phones instead of their computers. Voya ran the portal for its investment advisers and registered representatives to to manage the accounts of their customers. Voya also had a support line to … Read more »
The Nigerian prince email scams at home have been supplanted by phishing attacks on company accounting groups. The problem has become big enough that the Securities and Exchange Commission released a report indicating that falling victim to this kind of cyber attack could be considered a failure in the company’s internal accounting controls. The Federal … Read more »
Worried about the security of your cyptocurrency? How about having the Blockchain Exchange Commission protect you. It won’t. According to a complaint filed by Securities and Exchange Commission, Reginald Ringgold is a founding member of this very prestigious-sounding, regulatory-sounding Blockchain Exchange Commission. According to it’s LinkedIn page: The mission of the [Blockchain Exchange Commission] is to protect … Read more »