Providing Financial Services for Missouri Marijuana-Related Businesses: Navigating the Complex Landscape

Providing Financial Services for Missouri Marijuana-Related Businesses: Navigating the Complex Landscape

Nearly two-thirds of America’s states, including Missouri, have legalized marijuana for certain uses, but the federal government still classifies marijuana as a “Schedule 1” drug, on a par with heroin. This presents an interesting problem for financial institutions: technically, financial transactions involving marijuana-related businesses (“MRBs”) would involve funds derived from illegal activity. Taking money from

FBI Cyber Division Warns of Targeting Audio and Visual Communication Devices on Business Networks

FBI Cyber Division Warns of Targeting Audio and Visual Communication Devices on Business Networks

Private Industry Notification (PIN) 20190102-001 was being distributed to make private sector partners aware of the exploitation of audio visual communication devices on networks to identify vulnerabilities which could later be used to gain access and unlawfully acquire information about the organization. The alert was released as TLP: Green and the details, including useful information

Morgan Stanley Fined $10 Million by FINRA for AML Violations

Morgan Stanley Fined $10 Million by FINRA for AML Violations

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

CFTC Gets Default in $11 Million CPO Fraud Case

CFTC Gets Default in $11 Million CPO Fraud Case

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 Featured in Finance Magnates Crypto Year in Review

Braden Perry Featured in Finance Magnates Crypto Year in Review

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

CFTC Wins Judgment Against Commodity Pool Blue Guru

CFTC Wins Judgment Against Commodity Pool Blue Guru

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),

World’s Largest Copy Machine Generates Copyright Damages

World’s Largest Copy Machine Generates Copyright Damages

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 for Plagiarism Cases

‘Tis the Season for Plagiarism Cases

‘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