DOJ’s Decision to Appeal Tax Whistleblower Case Will Weaken the Federal Government’s Ability to Detect Fraud

The Justice Department is appealing the Tax Court’s decision in Whistleblower 21276-13W v. Commissioner and Whistleblower 21277-13W v. Commissioner, 147 T.C. No. 4 (2016). This case arose after two courageous whistleblowers stood up to the Swiss banks and exposed how the banks helped U.S. View Full Post
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Final Report Issued by SEC-Government-Business Forum On Small Business Capital Formation

In March 2017, the Government-Business Forum on Small Business Capital Formation of the Securities and Exchange Commission published its final report from the 2016 forum held on November 17, 2016. The forum is held annually “to provide a platform to highlight perceived unnecessary impediments to small business capital formation.” Each year the SEC’s Office of Small Business Policy (a part of the Division of Corporation Finance) invites federal government agencies, the North American Securities Administrators Association (consisting of state securities, or Blue Sky, regulators), and small business and professional organizations to participate in the forum, and each forum puts forth a list of recommendations to improve the capital formation process for small businesses. View Full Post
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FINRA Releases Additional Guidance Related to Social Media

The Financial Industry Regulatory Authority recently released Regulatory Notice 17-18, which contains guidance pertaining to social networking websites and business communications. FINRA clarified a number of topics, including: Member firms are obligated to retain a record of communications that occur via text messaging applications and chat services between its registered representatives and investors in accordance with Rules 17a-3 and 17a-4 promulgated under the Security Exchange Act of 1934, as amended, and FINRA Rule 4511. View Full Post
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CFTC Extends Relief to CTAs with Third-Party Recordkeepers

The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) has issued exemptive relief to commodity trading advisors (CTAs) from the requirement to keep records under CFTC Regulations 4.7(c)(2) and 4.33 at the CTA’s main business office. As provided in the exemptive letter, a CTA may use a third-party recordkeeper so long as the CTA files a notice of claim with the DSIO containing the representations set forth in the exemptive letter. View Full Post
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CFTC Adds 71 Names to Registration Deficient List

The Commodity Futures Trading Commission has added 71 names to its Registration Deficient (RED) List, which identifies foreign entities that illegally solicit US residents to trade binary options and forex. The RED List is available on the CFTC’s website. More information on the 71 names identified is available here. View Full Post
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European Commission to Establish Blockchain Observatory

On April 18, the European Commission (EC) published a pre-information notice for a pilot project mandated by the European Parliament, consisting of a “Blockchain Observatory and Forum” (Project). A pre-information notice is published prior to a tender for services, which in this case is a service contract for setting up the Observatory. View Full Post
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European Commission Publishes Speech On Equivalence and Supervisory Convergence

On April 25, the European Commission (EC) published a speech given by Vice President Valdis Dombrovskis, European Commissioner for Financial Stability, Financial Services and Capital Markets Union (CMU), on the challenges facing EU financial services policy. In the speech, among other things, Mr. View Full Post
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China Employee Terminations and Pregnant Employees

By | China Law Blog | April 28, 2017
China employment lawyersEven routine China employee terminations are usually challenging and pretty much always require preparation and care. Throw in an employee pregnancy and you increase the complexity and the risk exponentially. Our China employment lawyers have in the last few years increasingly had to resolve situations where a pregnant employee seeks to revoke her termination decision (sometimes by demanding reinstatement of her position), no matter how or why her employment contract is terminated — even when the termination was mutual and even when the termination was with cause. View Full Post
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