Bridging the Week by Gary DeWaal: July 8 – 12, and July 15, 2019 (Crypto Custody; An International Exchange and Truth; One + One = Two)

Published Date: July 15, 2019

Staff of the Securities and Exchange Commission and the Financial Industry Regulatory Authority issued a joint statement setting forth concerns they have with the ability of broker-dealers to comply with the SEC’s Customer Protection Rule when handling cryptosecurities. However, staff offered no meaningful path forward. Separately, a major international derivatives exchange agreed to pay a fine of US $150,000 to settle charges brought by the Commodity Futures Trading Commission that it made false statements to the US regulator in connection with a certification regarding its ongoing compliance with terms of a 2015 CFTC registration exemptive order. As a result, the following matters are covered in this week’s edition of Bridging the Week:

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Gary DeWaal

Gary DeWaal is currently Special Counsel with Katten Muchin Rosenman LLP in its New York office focusing on financial services regulatory matters. He provides advisory services and assists with investigations and litigation.

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Gary DeWaal
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