CFTC Charges New Yorker in Binary Option CPO Fraud

CFTC Charges New Yorker in Binary Option CPO Fraud

Recently, the CFTC filed an action against Kevin Scott Antonovich alleging from September 2015 through August 2016 he fraudulently solicited and received approximately $284,000 from at least 154 pool participants in connection with pooled investments in off-exchange binary options, using the funds for his personal use, and making false and misleading representations to pool participants. A

Braden Perry Discusses ICO Regulation and the SEC

Braden Perry Discusses ICO Regulation and the SEC

Braden Perry, a former federal enforcement attorney who is now a regulatory and government investigations attorney with Kennyhertz Perry, discussed the complex issue of Initial Coin Offering (“ICO”) compliance and the SEC’s recent regulatory crackdown with Forbes. “The regulatory treatment is still unclear for cryptocurrency, including at the ICO stage.” He continues,  “It seems as if

SEC Issues Wave of Subpoenas in ICO Probe

SEC Issues Wave of Subpoenas in ICO Probe

The Securities and Exchange Commission (SEC) is going after the Initial Coin Offering (ICO) market, according to a report by the Wall Street Journal. The report stated that the SEC issued “scores of subpoenas and information requests” to entities associated with ICO projects. Led by former CFTC Senior Trial Attorney Braden Perry, Kennyhertz Perry attorneys regularly

CFTC Issues Pump-and-Dump Virtual Currency Advisory

CFTC Issues Pump-and-Dump Virtual Currency Advisory

The Commodity Futures Trading Commission (CFTC) warned the public to beware of and avoid pump-and-dump schemes that can occur in thinly traded or new “alternative” virtual currencies, digital coins or tokens. These pump-and-dump schemes are generally anonymous and are organized in public chat rooms or via mobile messaging apps. They are coordinated efforts to create

CFTC Sues and Settles with AMP Global Clearing over Cybersecurity Failures

CFTC Sues and Settles with AMP Global Clearing over Cybersecurity Failures

The Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against AMP Global Clearing LLC, a registered FCM, for its failure to diligently supervise the implementation of critical provisions in AMP’s information systems security program (ISSP). As a result of this failure, a significant amount of AMP’s customers’ records and information

2018 SEC Examination Priorities: Anti-Money Laundering Programs

2018 SEC Examination Priorities: Anti-Money Laundering Programs

The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) today announced its 2018 examination priorities. OCIE publishes its exam priorities annually to improve compliance, prevent fraud, monitor risk, and inform policy. Of particular interest this year will be matters involving critical market infrastructure, duties to retail investors, and developments in cryptocurrency, initial coin offerings, and secondary market trading.

This year, one of the five OCIE’s examination priorities is anti-money laundering programs. Examiners will review for compliance with applicable anti-money laundering requirements, including whether firms are appropriately adapting their AML programs to address their regulatory obligations.

Led by Certified Anti-Money Laundering Specialist (CAMS) Braden Perry, Kennyhertz Perry attorneys have broad BSA/AML experience across the spectrum of bank and non-bank financial institutions, including traditional chartered banks, broker-dealers, commodity trading advisors, money transmitters, non-bank lenders, and virtual currency businesses. We are experienced in counseling and drafting BSA/AML practices, policies, and procedures and can assist in any SEC examination or annual BSA/AML independent audit. Our combined knowledge and skill permits us to anticipate potential problems before they become serious issues and assist clients in responding effectively to regulatory and law enforcement criticisms or inquiries.

Kennyhertz Perry regularly counsels lenders, investment advisers, broker-dealers, and fund managers on the laws, rules, and regulatory developments affecting their business, including regulatory requirements, risk management, licensing and registration, sales and marketing practices and materials, manuals and training, day-to-day compliance.

Braden Perry Joins Elite Group of Anti-Money Laundering Specialists

Braden Perry Joins Elite Group of Anti-Money Laundering Specialists

Kennyhertz Perry, LLC, Attorneys at Law, today announced Braden Perry was awarded the widely recognized Certified Anti-Money Laundering Specialist (CAMS) credential by the Association of Certified Anti-Money Laundering Specialists (ACAMS), the world’s leading organization for professionals in the anti-money laundering (AML) field.

The CAMS designation is awarded to professionals who successfully complete a rigorous examination demonstrating their aptitude and expertise in anti-money laundering and terrorist financing detection and enforcement. The examination covers methods, and best practices to stop money laundering, terrorist financing, and other financial crimes. It also covers key legislation worldwide, global AML standards and developing defenses for financial institutions to curb the threats posed by illicit financial activity.

“Kennyhertz Perry’s BSA/AML team continually strives to be on the forefront and leaders in the field,” explains John Kennyhertz, co-founder of Kennyhertz Perry. “This further validates the experience and expertise Braden brings as the leader of the financial services group.”

Carpenter v. U.S. and the Privacy of Cellphone Location Data

Carpenter v. U.S. and the Privacy of Cellphone Location Data

Braden Perry, a former federal enforcement attorney who is now a regulatory and government investigations attorney with Kennyhertz Perry, discussed the Supreme Court case Carpenter v. U.S., and the privacy of cellphone location data with biggerlawfirm.com, a publication that reports on legal tech news. “The amount of data “voluntarily” given to third parties is significant,”

The CFTC: A Commission Without Commissioners

The CFTC: A Commission Without Commissioners

What happens when a commission is without commissioners? That’s the question facing the Commodity Futures Trading Commission (CFTC), the independent federal agency charged with the oversight of conventional derivatives (futures and options), and since Dodd-Frank the vast majority of the swaps market. Earlier this week, Sharon Bowen, a Commissioner since 2014 and whose term isn’t due to

Enhanced CFTC Whistleblower Protections

Enhanced CFTC Whistleblower Protections

The Commodity Futures Trading Commission (“CFTC”) has adopted amendments to enhance its whistleblower rules, strengthening anti-retaliation protections and enhancing the process for reviewing whistleblower claims. The enhanced CFTC Whistleblower protections include: Under Rule 165.19, a person may not take any action to impede an individual from communicating directly with the CFTC’s staff about a possible violation of the

What is a CFTC Attorney Proffer?

What is a CFTC Attorney Proffer?

Sometimes called “queen for a day,” proffers are agreements between federal enforcement attorneys and individuals under investigation permit these individuals to tell the government about their knowledge of facts, with the supposed protections against them in any later proceedings. Attorney proffers are different, and are when attorneys talk to the government without your client present. It’s usually the step before