Perry Discusses Potential CFTC Leadership Changes with National Law Journal

J. Christopher Giancarlo, a Republican Commissioner of the CFTC, and potentially the next leader of the Commission hasn’t hesitated to dissent from fellow commissioners. That is the sentiment of Kennyhertz Perry partner Braden Perry said in a recent National Law Journal article. Perry, a former CFTC Senior Trial Attorney stated, “He’s been more of a pro-industry commissioner as opposed to some of the other commissioners who have pursued with vigor the Dodd-Frank consumer-protection provisions.”

Dodd-Frank has created numerous rules and regulations within the CFTC in recent year and, Perry said, “[y]ou might see some of the rules and regulations that are under consideration or have been already approved be rolled back under Giancarlo’s leadership.”

Perry, as part of Kennyhertz Perry’s Commodities, Futures, and Derivatives practice group, advises clients on a wide range of commodities and derivatives regulatory matters, and works with companies on compliance with the complex laws and regulations governing the securities and derivatives industries.

To view the entire article, please visit NationalLawJournal.com.

Posted December 13, 2016 | by admin |in CFTC, White Collar Crime

Perry Featured in Law.com’s Piece on FTC’s “Made in the USA” Enforcement

Braden Perry, Regulatory & Compliance attorney with Kennyhertz Perry, LLC, recently discussed the FTC’s “Made in the USA” enforcement and its impact on business. Mr. Perry described the process and time line of a “Made in the USA” FTC inquiry and the factors a business considers in determining its options, and how cooperation and lines of communication can decrease a potential enforcement action.

Click here to read the full Law.com article.

For more information on FTC’s “Made in the USA” enforcement, please contact [email protected] or visit us online at kennyhertzperry.com.

Posted August 15, 2016 | by admin |in FTC, White Collar Crime

Recent Trends in Credit Card Fraud

ValuePenguin, a personal finance website designed to assist consumers about financial decisions, recently discussed the current trends involving credit card fraud. Kennyhertz Perry Regulatory & Compliance attorney Braden Perry was one of the experts who weighed in on the trends since the 2008 financial troubles, the current and future technology and the ways consumers can protect themselves. “Credit card fraud can range from low tech to very high tech. It will never go away, but consumers can mitigate their chances significantly by using common sense and basic financial safety,” Perry said. The increased spending will increase fraud. ” Now, as credit use heads to prerecession levels, fraud is on the rise. Plus, the increased online marketplaces also lead to additional opportunities for fraud”

The article shows fraud by state discusses the 41% increase in fraud since 2014. The full article can be viewed here.

Posted July 31, 2016 | by admin |in White Collar Crime

Non-Registrant Sanctions: CFTC Taking Actions for Failure to File Required Reports

Non-Registrants face many CFTC rules and regulations, and increasingly the obligation to file certain reporting forms, including Forms 204 and 304. Violations of these obligations have been highlighted recently in several CFTC enforcement actions, including CHS Inc., Marubeni America Corporation, and most recently Agrocorp International Pte Ltd. and Golden Agri International Pte Ltd.

Non-Registrant knowledge and understanding of the very technical and sometimes contradictory reporting minutia. If you have questions regarding CFTC Forms 204 and 304, Regulation 19.01, or any other CFTC rule or regulation, please contact Braden Perry with Kennyhertz Perry, LLC’s Commodities, Futures, and Derivatives, and Government Enforcement practice groups, where roots of the practice are in the commodities markets, where Mr. Perry spent time as a CFTC Senior Trial Attorney.  Kennyhertz Perry lawyers regularly advise our clients on compliance with the complex laws and regulations governing the securities and derivatives industries, including the Commodity Futures Modernization Act of 2000, the Commodity Exchange Act, and CFTC regulations, and the rules of the derivatives exchanges and clearinghouses and other industry self-regulatory organizations. Kennyhertz Perry lawyers guide clients on comment-making about proposed legislation and regulation, provide ongoing operational and compliance counseling, and offer advice on modifications of transaction structure and documentation. Mr. Perry also brings his enforcement experience and his substantial prior experience in white collar criminal defense practice, and represents corporate clients and individual officers and directors at every stage of government investigations and enforcement actions – including white collar criminal matters – initiated by state and federal agencies, including the CFTC and NFA.

Posted July 13, 2016 | by admin |in CFTC, Due Diligence, White Collar Crime

CFTC Enforcement Action Targets Company for Failure to File CFTC Form 204

In another enforcement action involving failure to file CFTC from 2014 as required by CFTC Regulation 19.01, the Commodity Futures Trading Commission ordered Golden Agri International Pte Ltd. to pay $150,000. This follows similar actions against farm co-op CHS Inc. and Marubeni America Corporation and is a reminder to reportable market participants of their ongoing legal obligation to comply in a timely manner with Regulation 19.01, which prescribes the form and manner for submitting Form 204 reports to the Commission for wheat, corn, oats, soybeans, soybean oil, and soybean meal. Regulation 19.01(b) requires that the Form 204 report be made monthly by the close of business on the last Friday of the month, and filed with the Commission’s Office in Chicago, IL by the third business day following the date of the report or via facsimile, telephone, or mail. 

Failure to file Form 204 reports in a timely manner and follow instructions constitutes a violation of Regulation 19.01, which is actionable under the Commodity Exchange Act (“CEA”) and Commission regulations and these actions show that enforcement proceedings will brought against nonconforming companies. 

If you have questions regarding CFTC Form 204, Regulation 19.01(b), or any other CFTC rule or regulation, please contact Braden Perry with Kennyhertz Perry, LLC’s Commodities, Futures, and Derivatives, and Government Enforcement practice groups, where roots of the practice are in the commodities markets, where Mr. Perry spent time as a CFTC Senior Trial Attorney.  Kennyhertz Perry lawyers regularly advise our clients on compliance with the complex laws and regulations governing the securities and derivatives industries, including the Commodity Futures Modernization Act of 2000, the Commodity Exchange Act, and CFTC regulations, and the rules of the derivatives exchanges and clearinghouses and other industry self-regulatory organizations. Kennyhertz Perry lawyers guide clients on comment-making about proposed legislation and regulation, provide ongoing operational and compliance counseling, and offer advice on modifications of transaction structure and documentation. Mr. Perry also brings his enforcement experience and his substantial prior experience in white collar criminal defense practice, and represents corporate clients and individual officers and directors at every stage of government investigations and enforcement actions – including white collar criminal matters – initiated by state and federal agencies, including the CFTC and NFA.

Posted July 11, 2016 | by admin |in CFTC, Due Diligence, White Collar Crime

Braden Perry Presents Bitcoin and Block Chain Technology to the Nebraska Attorney General’s Office

Kennyhertz Perry partner Braden Perry lead an educational and interactive training at the Nebraska Attorney General’s office focusing on legal implications of Bitcoin and other emerging issues related to block chain technology. The Office of the Attorney General, and personnel from the Nebraska Highway Patrol, Nebraska Department of Revenue criminal investigators, and Homeland Security participated in an interactive training by Perry, and representatives from Coinbase and Chainalysis, discussing criminal, fraud, and consumer protection issues with the emerging technology.  The daylong event occurred in Lincoln on May 16, 2016. 

Posted May 20, 2016 | by admin |in Bitcoins, Block Chain Technology, Criminal Fraud, Regulations, White Collar Crime

Former CFTC Enforcement Attorney Braden Perry Discusses Revamped CFTC Manipulation Test

Kraft Foods Group and Mondelez Global made headlines last year being charged with market manipulation by the CFTC. At the time, Braden Perry, a former CFTC Senior Trial Attorney and Kennyhertz Perry, LLC partner spoke with McGraw Hill about the meaning of this battle between a regulator and a large end user and participant in the commodities market.

Mr. Perry continues to talk about the CFTC’s new anti-manipulation standard, this time discussing cryptocurrency and the CFTC’s expansive jurisdiction, recently speaking to the Conference of Western Attorneys General (“CWAG”) involving the potential for actions involving manipulation or attempted manipulation on the Bitcoin spot market. CWAG invited Mr. Perry to their 2016 Digital Currency Symposium as a digital currency expert discussing regulatory and enforcement issues with digital currencies and the blockchain.

Posted February 10, 2016 | by admin |in CFTC, White Collar Crime