Perkins Coie LLP

Perkins Coie is a leading international law firm that is known for providing high value, strategic solutions and extraordinary client service on matters vital to our clients’ success. With more than 1,100 lawyers in offices across the United States and in Beijing, Shanghai and Taipei, we provide a full array of corporate, commercial litigation, intellectual property and regulatory legal advice to a broad range of clients, including many of the world’s most innovative companies and industry leaders as well as public and not-for-profit organizations.

Fintech Week in Review: Week of February 14, 2020

By Sam Boro & Nick Lundgren

February 21, 2020

Weekly Fintech Focus The House Financial Services Committee takes on AI bias issues. The Fed prioritizes interoperability for its FedNow payments service. Colorado releases a roadmap for banks and others that provide financial services to cannabis-related businesses. Mastercard gets preliminary approval to operate in China. NY Court Finds Fantasy Sports Betting Illegal. Fed Reserve Governor Discusses Digitalization of Payments and Currency.…

Virtual Currency Report

Blockchain Week in Review: Week of February 14, 2020

By Will Conley

February 21, 2020

Weekly Focus S. Treasury Foreshadows “Significant New Requirements” Enforcement Actions Brought Against Allegedly Fraudulent Digital Asset Investment Scheme Department of Justice Charges Darknet-Based “Mixer” With Laundering Over $300 Million, Operating an Unlicensed Money Transmitting Business, and Money Transmission Without a License Report Finds Crypto Crime Losses Double to $4.5 Billion in 2019 P. Morgan Discusses Merger With ConsenSys Aragon Court Launches Precedence Campaign IBM Claims Blockchain Expenditures Yield 15x for Cloud IOSCO Releases Updated Report…

Consumer Protection Review

FTC requests feedback on Endorsement Guides

By Mark S. Goodrich & Jason Howell

February 20, 2020

The FTC recently requested public comments on questions related to its Endorsement Guides (the Guides). While the FTC has periodically updated the FAQs associated with the Guides, it has not directly updated the Guides since 2009. Given the changes to influencer and social media marketing over the years, the FTC is seeking input on a range of issues related to endorsements, influencers, reviews, and affiliate marketing. For example, the FTC asks the following questions in…

Virtual Currency Report

Updated: Digital Asset SEC Timeline

By Val Dahiya & Anna Smith

February 20, 2020

Perkins Coie LLP is pleased to bring you this Digital Asset SEC Timeline. This Timeline is an interactive compilation of select SEC guidance, enforcement actions, and speeches relating to the application of the federal securities laws to digital assets. Beginning with the release of the DAO Investigative Report in July 2017, the Timeline includes relevant information for analyzing the offering, issuance, and trading of certain digital assets in the context of the federal securities…

Derivatives & Repo Report

Mutual Fund Corner: Practical Implications of the Recent Amendments to CFTC Regulation 4.5

By Andrew P. Cross

February 19, 2020

As we explained in an earlier post, the CFTC has recently amended its Regulation 4.5 to clarify that the commodity pool operator (“CPO”) of a registered investment company is the entity that serves as the registered investment adviser (“RIA”) to that company. In this post, we will explore practical implications of this recent rule amendment.…

Tech Risk Report

Coronavirus Coverage: Policy Language that May Cover (or Exclude) Your Business Interruption Losses Caused by the Outbreak

By Jonathan G. Hardin

February 18, 2020

As the coronavirus (COVID-19) outbreak continues to evolve, more businesses are feeling the impact. Earlier this week, Apple announced that it does not expect to meet its quarterly revenue forecast due to interruption of its Chinese manufacturing operations and decreased demand from Chinese consumers. In a previous post, we outlined how business interruption insurance coverage may help offset financial losses in a health emergency like the coronavirus outbreak. Business interruption coverage is usually purchased…

Derivatives & Repo Report

Mutual Fund Corner: A Reminder for Firms Updating CFTC Regulation 4.5 Exemptions – The Fund’s Adviser is Its CPO

By Andrew P. Cross

February 18, 2020

Mutual fund complexes relying on the exemption under Commodity Futures Trading Commission (“CFTC”) Regulation 4.5 from commodity pool operator (CPO) registration have to file: (1) An initial notice of eligibility to claim that exemption; and (2) An annual affirmation of continued reliance on the exemption within 60 days of each calendar year end. In our experience, many mutual fund complexes “update” their Regulation 4.5 eligibility notices during the last two weeks of February. This blog…

Food Litigation News

Food Litigation Year in Review 2019

By David T. Biderman, Charles Sipos, Gina LaMonica, Mica Klein, Lauren Staniar, Beth Erin Palmer, Tommy Tobin, Julie L. Hussey, Carrie Akinaka & Jasmine Wetherell

February 18, 2020

Perkins Coie is pleased to present its fourth annual Food Litigation Year in Review 2019, offering a summary of the past year’s key litigation outcomes, regulatory developments, and filing data. Using metrics from our proprietary database, developed by our food litigation team in order to track and understand trends in this area, 2019’s Year in Review again reports an increase in class action litigation, with a record-breaking 173 new lawsuits filed. The upward filing…

Derivatives & Repo Report

NFA Announces Common Deficiencies Identified During Examinations of CPOs, CTAs, FCMs, FDMs, IBs and Swap Dealers

By Andrew P. Cross

February 14, 2020

On February 10th, the National Futures Association (NFA) published three Notices to Members identifying common deficiencies noted in examinations of commodity pool operators (CPOs), commodity trading advisors (CTAs), futures commission merchants (FCMs), forex dealer members (FDMs), introducing brokers (IBs), and swap dealers (SDs). This blog post summarizes these notices and the identified deficiencies. In addition, we have prepared A Summary of Deficiencies Found in NFA Exams February 2020 to supplement the information presented in this…

Asset Management ADVocate

Re-Proposed Rule 18f-4—Fund Taxonomy

By Stephen A. Keen

February 13, 2020

The publication of the SEC’s re-proposed rules for regulating the use of derivatives by investment companies in the Federal Register provides an opportunity to continue our consideration of this proposal. The publication fixes the deadline for comments at March 24, 2020. The proposed classifications of how funds may use derivatives, the taxonomy of these funds if you will, provides a useful starting place for organizing our consideration of re-proposed Rule 18f-4.…

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Fintech Week in Review: Week of February 14, 2020

Blockchain Week in Review: Week of February 14, 2020

FTC requests feedback on Endorsement Guides

Updated: Digital Asset SEC Timeline

Mutual Fund Corner: Practical Implications of the Recent Amendments to CFTC Regulation 4.5

Coronavirus Coverage: Policy Language that May Cover (or Exclude) Your Business Interruption Losses Caused by the Outbreak

Mutual Fund Corner: A Reminder for Firms Updating CFTC Regulation 4.5 Exemptions – The Fund’s Adviser is Its CPO

Food Litigation Year in Review 2019

NFA Announces Common Deficiencies Identified During Examinations of CPOs, CTAs, FCMs, FDMs, IBs and Swap Dealers

Re-Proposed Rule 18f-4—Fund Taxonomy

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