FINRA fined Morgan Stanly $10 million after finding it failed to properly supervise an anti-money laundering (“AML”) program over five years because of three major issues: First, Morgan Stanley’s automated AML surveillance system failed to receive data from several systems. Second, it failed to devote sufficient resources to review alerts generated by its automated AML surveillance
Braden Perry, a former CFTC Senior Trial Attorney that works in areas of novel and emerging technology with a financial focus, was featured in an NB Finance article on Commodity Trading. “Commodity trading is known to be extremely volatile and the risks are great,” Perry said. “There are many (fewer) CTAs than traditional asset managers or
The Commodity Futures Trading Commission (CFTC) recently announced an Order of default judgment and permanent injunction has been issued against defendants Capital Growth Group Associates and Cobra Development Group in connection with two separate fraudulent commodity pool trading schemes. The default was granted in the U.S. District Court for the Central District of California, and
Braden Perry, a regulatory and enforcement attorney that works in areas of novel and emerging technology with a financial focus, was featured in Meeting Professionals International (MPI) article on the Marriott data breach. “Vendors have a lot of data,” Perry said. “When it comes to supply chains, it is critical to monitor and review your
Braden Perry, a regulatory and enforcement attorney that works in areas of novel and emerging technology with a financial focus, was featured in Finance Magnates year-end review on the regulatory inaction in cryptocurrency. “The major takeaway is the regulatory treatment is (still) unclear for cryptocurrency,” he told Finance Magnates. “It seems as if every federal
Today, The Commodity Futures Trading Commission (CFTC) announced today that Defendant Mark R. Slobodnik, operating as Blue Guru, LLC, was ordered to pay approximately $370,000 in fines in connection with a $1.76 million commodity pool fraud. The Order stems from a CFTC Complaint alleging that Slobodnik, a former member of the Chicago Mercantile Exchange (CME),
The founder of Wired Magazine, Kevin Kelly, observed that “The internet is the world’s largest copy machine.” This giant copy machine is easy to operate and explosively expands copying. In addition, technology such as software apps and camera phones create a constant stream of images and other content. Amid this radical change, the law of
‘Tis the season when students return to their classrooms, write their final papers and cram for exams. Students also face the additional worry of conforming to the rules and ethics of “academic honesty” and avoiding plagiarism. Plagiarism can result in punishment – including expulsion – for students, grad students, or faculty members. If you are
On November 6, 2018, the citizens of Missouri approved Amendment 2, legalizing medical marijuana. Missourians who wish to open medical marijuana dispensary facilities, cultivation facilities, testing facilities, marijuana-infused product manufacturing facilities, or those who wish to apply for an ID card allowing medical marijuana use, may apply to begin on (or before) July 4, 2019.
Taglines — short phrases associated with a product – are important parts of marketing. There are many famous and effective registered taglines: “We try harder;” “Just do it,” “Double Your Pleasure,” “Think Different,” “What’s in Your Wallet?” Taglines, like all good trademarks, enhance the connection between the consumer, the product and the source of the
The Department of Homeland Security (DHS) recently released a report entitled “Threats to Precision Agriculture” regarding Ag Tech. The report addresses the security threats related to the adoption and impact of new digital technologies in crop and livestock production, highlights the potential vulnerabilities arising from using precision agriculture, identifies potential threat scenarios, and possible best
The Securities and Exchange Commission recently announced that a Des Moines-based broker-dealer and investment adviser has agreed to pay $1 million to settle charges related to its failures in cybersecurity policies and procedures surrounding a cyber intrusion that compromised personal information of thousands of customers. This is the latest SEC action demonstrating that cybersecurity must be tailored to the practices of the business.
The SEC charged Voya Financial Advisors Inc. (VFA) with violating the Safeguards Rule and the Identity Theft Red Flags Rule, which are designed to protect confidential customer information and protect customers from the risk of identity theft. This is the first SEC enforcement action charging violations of the Identity Theft Red Flags Rule.