attorney thomas-k-potter-iii Trade Related Topics 
Burr Forman
SEPTEMBER 24, 2021
The People’s Bank of China (“PBOC”) announced this morning that it is banning crypto currencies and related services, including “trading, order matching, token issuance and derivatives for virtual currencies are strictly prohibited.” See attorney profile. CoinDesk report (9/24/2021) is here: [link].
Burr Forman
MARCH 1, 2021
In an SEC filing Friday, February 26, Robinhood Financial and Robinhood Securities disclosed they are negotiating with FINRA, the SEC, and state regulators, attempting to settle investigations into options-trading and outages from March, 2020. See attorney profile. The Companies disclosed they have accrued $26.6
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Burr Forman
AUGUST 18, 2021
The sweep seeks: “Written Supervisory Procedures (WSP), compliance manuals and any other written guidance pertaining to the firm’s processes and procedures regarding the firm’s options account opening and due diligence activities specific to each level of trading permission, including but not limited to:”. (i) See attorney profile.
Burr Forman
OCTOBER 14, 2021
Recall that the settlement admissions policy was widely touted in 2013 by then-Chair Mary Jo White for cases involving: (i) “Egregious conduct”; (ii) “Large numbers of investors harmed”; (iii) “Significant risk to markets or investors”; (iv) “Particular future threat to investors or markets”; (v) “Unlawful obstruction of Commission’s processes.”
Burr Forman
FEBRUARY 2, 2021
Social media platforms , including the “gamification” of trading. Potter, III ( tpotter@burr.com ) is a partner in the Securities Litigation Practice Group at Burr & Forman, LLP. See attorney profile. Targeted Examinations on zero commission risks and disclosures. The Report is here.
Burr Forman
AUGUST 31, 2021
Examples of digital engagement practices include: social networking tools; games, streaks and other contests with prizes; points, badges, and leaderboards; notifications; celebrations for trading; visual cues; ideas presented at order placement and other curated lists or features; subscriptions and membership tiers; and chatbots.
Burr Forman
FEBRUARY 25, 2021
The clearing and settlement process was front and center at the House Financial Services Committee’s February 18, 2021 hearing over the GameStop (NYSE: “GME”) short-squeeze and Robinhood’s pause in GME trading. NSCC generally clears and settles trades on a T+2 basis.”. The Clearing & Settlement Process.
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