Expert Analysis

• How Financial Cos. Can Prep As NYDFS Cyber Changes Loom

  

  Financial institutions supervised by the New York State Department of Financial Services can prepare for two critical cybersecurity requirements relating to multifactor authentication and asset inventories, effective Nov. 1, by conducting gap analyses and allocating resources to high-risk assets, among other steps, say attorneys at Pillsbury.

• Opinion

  Ending Quarterly Reporting Would Erode Investor Protection

  

  President Donald Trump recently called for an end to the long-standing practice of corporate quarterly reporting, but doing so would reduce transparency, create information asymmetries, provide more opportunities for corporate fraud and risk increased stock price volatility, while not meaningfully increasing long-term investments, say attorneys at Bleichmar Fonti.

• Series

  Adapting To Private Practice: 3 Tips On Finding The Right Job

  

  After 23 years as a state and federal prosecutor, when I contemplated moving to a law firm, practicing solo or going in-house, I found there's a critical first step — deep self-reflection on what you truly want to do and where your strengths lie, says Rachael Jones at McKool Smith.

• A Look At Project Crypto's Plans For Digital Asset Regulation

  

  U.S. Securities and Exchange Commission Chairman Paul Atkins' recent announcement of Project Crypto, an agencywide initiative to modernize federal securities regulations, signals a significant shift toward a more flexible regulatory framework that would shape the future of the U.S. digital asset market, say attorneys at WilmerHale.

• Series

  Painting Makes Me A Better Lawyer

  

  Painting trains me to see both the fine detail and the whole composition at once, enabling me to identify friction points while keeping sight of a client's bigger vision, but the most significant lesson I've brought to my legal work has been the value of originality, says Jana Gouchev at Gouchev Law.

• 3 Trends From AI-Related Securities Class Action Dismissals

  

  A review of recently dismissed securities class actions centering on artificial intelligence highlights courts' scrutiny of statements about AI's capabilities and independence, and sustained focus on issues that aren't AI-specific, say attorneys at Alston & Bird.

• CFTC, SEC Joint Statement Highlights New Unity On Crypto

  

  The U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission's recent joint statement announcing a cross-agency initiative enabling certain spot crypto-asset products to trade on regulated exchanges is the earliest and most visible instance of interagency cooperation on crypto regulation, say attorneys at Morgan Lewis.

• Regulatory Uncertainties Loom As Fed Ends Crypto Oversight

  

  The Federal Reserve Bank's recently ended crypto supervisory program headlines other recent federal actions from Congress, the White House and relevant agencies that may complicate financial institutions' digital-asset use and attendant compliance strategies, say attorneys at Buchalter.

• Opinion

  SEC Arbitration Shift Is At Odds With Fraud Deterrence

  

  The U.S. Securities and Exchange Commission's recent statement allowing the use of mandatory arbitration by new publicly traded companies could result in higher legal costs, while removing the powerful deterrent impact of public lawsuits that have helped make the U.S. securities markets a model of transparency and fairness, say attorneys at Labaton Keller.

• Better Crypto Insurance Is Attainable Amid Regulatory Shifts

  

  With regulatory clarity improving and insurance carriers taking an increasingly constructive approach, crypto industry participants can improve their insurance coverage and pricing if finance, legal and compliance teams take specific steps, say Walker Newell and Jacob Sawyer at Woodruff-Sawyer.

• Protecting Sensitive Court Filings After Recent Cyber Breach

  

  In the wake of a recent cyberattack on federal courts' Case Management/Electronic Case Files system, civil litigants should consider seeking enhanced protections for sensitive materials filed under seal to mitigate the risk of unauthorized exposure, say attorneys at Redgrave.

• Series

  NC Banking Brief: All The Notable Legal Updates In Q3

  

  There were several impactful changes to the financial services landscape in North Carolina in the third quarter of the year, including statutory updates, enforcement developments from Office of the Commissioner of Banks, and notable mergers, acquisitions and branch expansions, say attorneys at Moore & Van Allen.

• Despite Fraud Focus, SEC Still Targeting Technical Violations

  

  The U.S. Securities and Exchange Commission under Chairman Paul Atkins has emphasized its back-to-basics strategy, focusing on identifying and combating fraud and manipulation, but at the same time, it has continued to pursue nonfraud-based actions targeting technical rule violations, a trend that will likely continue, say attorneys at Morgan Lewis.

• Series

  NY Banking Brief: All The Notable Legal Updates In Q3

  

  Of note in the third quarter of the year, New York state regulators moved forward on their agendas to limit abuse of electronic banking, including via a settlement with stablecoin issuer Paxos and a lawsuit against Zelle alleging insufficient security measures, says Chris Bonner at Barclay Damon.

• Gauging SEC Short-Sale Rules' Future After 5th Circ. Remand

  

  Though the Fifth Circuit recently remanded to the U.S. Securities and Exchange Commission two Biden-era rules requiring disclosure of securities lending and short-sale activity in order to consider the rules' cumulative economic impact, it's possible they will get reproposed, meaning compliance timelines could change, says Scott Budlong at Barnes & Thornburg.