Shipkevich Bitcoin and ICO Attorney

Felix Shipkevich

Felix Shipkevich July 23, 2018

The National Futures Association has sent a rule submission letter to the CFTC regarding new disclosure obligations for FCMs, IBs, CPOs, CTAs, and Pools and Managed Account Programs engaging in virtual currency derivatives and virtual currency transactions as well as other activities in underlying or spot virtual currencies would require the new disclosure.

Felix Shipkevich July 2, 2018

14 U.S Banks Get Dodd-Frank Extension from Federal Reserve and FDIC   The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on Monday announced that they have extended the next resolution plan filing deadline for 14 domestic firms by one year to December 31, 2019, to allow additional time for the agencies to […]

Felix Shipkevich June 28, 2018

CFTC and SEC Update 2008 Swaps MOU for Cohesion and Efficiency Latest press release from the CFTC and the SEC shows how far the two regulatory agencies have come to a cohesive approach to market regulation where their respective jurisdictions might overlap. This updated Memorandum of Understanding promises cooperation between the two regulators for efficiency. […]

Felix Shipkevich June 5, 2018

Today the National Futures Association issued a press release announcing that its board approved the formation of a Swaps Proficiency Requirements Advisory Committee which will oversee the development of a Swaps Proficiency program for individuals to be tested on, according to the Commodity Exchange Act’s training standards. The exam would test Associated Persons on market […]

Felix Shipkevich May 29, 2018

NFA Fines XFA Introducing Broker $100,000 For Compliance Violations Today the National Futures Association announced it ordered X-Change Financial Access, LLC. (XFA) Introducing Broker based in Chicago a $100,000 penalty for lack of “adequate supervisory procedures” to monitor and prevent violations of NFA Member Responsibility Action (MRA). Full Press Release below, “The Decision, issued by NFA’s […]

Felix Shipkevich May 16, 2018

CFTC No Action from Including International Swaps for Global Development   CFTC Reduces Marketplace Barriers for Global Development Initiatives May 16, 2018 Washington, DC — The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) today granted relief to non-US counterparties who enter into swaps with International Financial Institutions (IFIs), such as development banks. […]

Felix Shipkevich May 9, 2018

Last week the NFA sent a notice regarding the Department of Treasury’s Office of Foreign Assets Control (OFAC) as it applies to Virtual Currency such as Bitcoin. The NFA urges its Futures Commission Merchants (FCM) and Introducing Brokers (IB’s) to review the OFAC FAQ for cryptocurrency transactions compliance with their Anti-Money Laundering program.