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Publications
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09.13.2018Federal District Court Upholds Securities Indictment for ICOs but Defers Final Howey Determination in United States v. ZaslavskiyUpdatesIn what is believed to be the first criminal case examining whether so-called “initial coin offerings” (ICOs) are securities under U.S. law, Judge Raymond J. Dearie of the Eastern District of New York refused to dismiss the indictment against Maksim Zaslavskiy for a deceptive virtual currency scheme and fraudulent ICOs by REcoin Diamond Reserve Club.
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10.07.2015Migratory Birds Of A Feather Don't Always Flock TogetherArticles
Law360
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12.17.2014Due Process Violations: Transgender Woman Calls FoulArticles
The Recorder Reporter
Monica Jones, a student at Arizona State University, is appealing her conviction under Phoenix’s ordinance that broadly prohibits “manifesting” an intent to engage in prostitution, asserting multiple trial errors as well as First Amendment and due process violations. -
07.18.2014NYDFS Issues Sweeping Proposal for Rules Governing Virtual Currency BusinessesLawyer Publications
Virtual Currency Report
New York State DFS Superintendent Benjamin Lawsky today issued proposed rules applicable to virtual currency businesses. -
10.03.2013Government Brings Important Case Against Illegal Marketplace “Silk Road;” Government Acknowledges Lawful Uses of BitcoinUpdatesThe virtual currency industry is in the news once again following the October 1, 2013, Federal Bureau of Investigation’s shutdown of the “Silk Road” website.
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08.20.2013Virtual Currency: Government Scrutiny Continues to GrowUpdatesRiding the coattails of an August 6, 2013 federal court ruling that alleged Ponzi-schemer Trendon Shavers’ Bitcoin-based investment scheme constituted an investment contract, and therefore is a “security” under the federal securities laws, various federal and state lawmakers have aligned their attention to issues affecting the virtual currency market.
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08.09.2013Court Maintains Bitcoin-Related Investment Scheme Is a Security Under the Federal Securities LawsUpdatesIn response to the SEC’s first civil complaint arising from online virtual currency trading, alleged Bitcoin Ponzi schemer Trendon Shavers recently challenged the district court’s authority to hear the case.
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07.29.2013Bitcoin Under SEC Scrutiny: First Civil Prosecution Brought Against Alleged Virtual Currency Ponzi Scheme CompanyUpdatesOn July 23, 2013, the SEC ventured into the electronic currency world by filing a civil complaint against virtual currency “trader” Trendon Shavers and his company, Bitcoin Savings and Trust, in the U.S. District Court for the Eastern District of Texas.
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06.03.2013Legal Landscape For E-Currency Is Getting More ComplicatedArticlesLaw360Federal authorities have initiated several recent enforcement actions that are indicative of continuing regulatory changes in the virtual currency industry.
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06.03.2013SEC Answers Frequently Asked Questions About Conflict Minerals Disclosure — FinallyUpdatesThe Securities and Exchange Commission’s (the Commission or SEC) Division of Corporation Finance provided answers to questions regarding the commission’s rules adopted in response to the Dodd-Frank Wall Street Reform and Consumer Protection Act requiring certain public companies to disclose on a new Form SD their use of conflict minerals originating in the Democratic Republic of the Congo (the DRC) or an adjoining country.
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05.30.2013Federal Government Crackdown on Virtual Currency Heats UpUpdatesFederal authorities have initiated several recent enforcement actions that are indicative of continuing regulatory changes in the virtual currency industry.
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03.20.2013Perils of the Global Supply Chain Series, Part 3: Groundbreaking ‘Honey Laundering’ Sting Signals New Era in Supply Chain EnforcementUpdatesSupply chain compliance is on the government’s enforcement radar like never before. If the recent Executive Order on Trafficking in Government Contracts and final SEC Conflict Minerals Rules were not notice enough, the Department of Justice’s (DOJ’s) February 20, 2013 announcement of headline-grabbing charges against the two largest domestic honey processing companies eliminates any doubt that companies must carefully examine the effectiveness of their existing supply chain compliance programs.
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02.21.2013'Honey Laundering' Signals A New Enforcement EraArticles
Law360
T. Markus Funk and partner J. Cabou analyze the Chicago U.S. Attorney’s Office’s February 20, 2013’s record-breaking anti-dumping and food fraud case. -
10.25.2012Perils of the Global Supply Chain, Part 2: Supply Chain Responsibility, Or Else.UpdatesWhether “Corporate Social Responsibility” (CSR) is a new phrase to your company or is something you have observed and worked on for years, these are perilous times indeed for companies with large, complex, global supply chains.
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09.26.2012Want a Federal Government Contract? Now You Must Join the Fight Against Human TraffickingUpdatesOn September 25, 2012, President Obama signed a groundbreaking Executive Order designed to strengthen protections against trafficking in persons in federal contracting.
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09.05.2012SEC Adopts Conflict Mineral Disclosure RulesUpdatesThe Securities and Exchange Commission recently adopted final disclosure and reporting rules as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act requiring certain public companies to disclose on a new Form SD their use of conflict minerals originating in the Democratic Republic of the Congo (the DRC) or an adjoining country.
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08.28.2012Cabou and Funk in on Final SEC Conflict Minerals RulesArticles
Law360
Whatever one’s position on the public policy wisdom of the announced final rules, it is now clear that auditing complex supply chains and vetting difficult-to-control vendors, often located worlds away, has become the new corporate imperative. In the morning hours of Aug. 22, the Commission held its highly anticipated public meeting to announce its final Conflict Minerals Rules pursuant to Dodd-Frank Section 1502. Perkins Coie Partners Jean-Jacques Cabou and T. Markus Funk deconstruct the complex new rules, and provide practical "what next" advice for potentially impacted businesses. -
Spring 2012Joint Defense Agreements: Practical Considerations in the Wake of United States v. GonzalezArticles
ABA Criminal Justice Section Newsletter
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06.27.2012Perils of the Global Supply Chain Series – Part 1UpdatesThose working in today's in-house law departments or supervising global supply chains and third-party business partners have become sensitive to the significant dangers posed by not complying with the U.S. Foreign Corrupt Practices Act (“FCPA”). The well-publicized recent events surrounding Wal-Mart's FCPA woes have only raised already-elevated anxiety levels.
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06.12.2012Dodd-Frank ‘Conflict Minerals’ Rules: Simple Steps to Stay AheadArticles
Westlaw Journal: White Collar Crime
Partners Jean-Jacques "J" Cabou, Jason Day, and T. Markus Funk examine the SEC's pending "conflict minerals" rules. The authors provide a useful flow chart illustrating the proposed rules' logic and flow, and offer specific suggestions for how companies can get ahead of the curve and gauge what impact the anticipated rules are likely to have on their operations and compliance functions. -
06.12.2012Expansive New Washington State Law Threatening On-line Service Providers With Criminal Liability Enacted, Now EnjoinedUpdatesEarlier this year, Washington state legislators unanimously passed the nation's first criminal law requiring age verification for commercial sexual services advertisements depicting minors. The landmark law's goals are laudable, but its broad reach has some on-line service providers and traditional publishers concerned. For example, on-line service providers that allow users to post content and images on their sites, including on social networking sites, dating sites, discussion forums, blogs and chat rooms, could now face criminal exposure, even if they have absolutely no interest in placing, or permitting the placement of, such ads.
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04.10.2012Alert: Apple's Supply Chain Fair Labor ReportUpdatesIn the wake of the recent negative publicity deluge, including a segment on a national newsmagazine show, alleging labor violations including the use of child labor, safety violations and unfair pay practices, late last week Apple released a third-party report detailing problems and proposed solutions at one of its largest suppliers.
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11.17.2011Prosecutors Want to Question Panel on Open Meeting Law: Judge is Asked to End Redistrict 'StonewallArticles
Arizona Daily Star
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11.17.2011Redistrict Panel Bound by Open Meeting Law, Arizona Argues in CourtArticles
Arizona Daily Star
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01.13.2011Phoenix-Area School Group InvestigatedArticles
Arizona Daily Star
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01.09.2011Northwest Phoenix School Group Accused of Funds MisuseArticles
azcentral.com
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10.05.2009RICO Law Criticized as Open to AbuseArticles
azcentral.com
Presentations
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11.02.2017Blockchain 101Speaking EngagementsAssociation of Corporate Counsel / Phoenix, AZ
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05.31.2017Your Company At The Border: Protecting Your People, Corporate Secrets, and PropertySpeaking EngagementsPanel / Chicago, IL
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08.07.2014The Legal Landscape of Bitcoins And Other Virtual CurrenciesSpeaking EngagementsConvene (Grand Central) / New York, NY
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06.24.2014 - 06.26.2014
Virtual Currency Report
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SEC Approves 11 Spot Bitcoin Exchange-Traded Products
On January 10, the Securities and Exchange Commission gave the green light to 11 issuers that applied for bitcoin exchange-traded funds (ETFs). After a false announcement and a course change due to the ruling in Grayscale Investments, LLC v. SEC, the SEC approved spot Bitcoin ETFs for ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree*, Fidelity, Valkyrie,... Continue Reading…
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BarnBridge and its founders Tyler Ward and Troy Murray allegedly sold unregistered SMART Yield bonds, which the SEC considers crypto asset securities. Respondents also were charged with violations stemming from operating BarnBridge’s SMART Yield pools as unregistered investment companies. BarnBridge agreed to disgorge $1,457,000 from the sale and Ward and Murray agreed to civil penalties... Continue Reading…
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NYDFS Proposes Updates to Guidance for Listing and Delisting Digital Assets
What Happened? The New York Department of Financial Services (NYDFS or Department) released proposed updates to its guidance on the self-certification process for listing and delisting digital assets. It also announced significant changes to the Department’s “Greenlist” of vetted digital assets. This industry development affects companies that have received permission to engage in virtual currency... Continue Reading…
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The Federal Reserve’s Novel Activities Supervision Program: What Banks and Nonbanks Need to Know
Financial technology firms and certain banks and bank holding companies can expect to face increased scrutiny as the Board of Governors of the Federal Reserve System takes another step to stem risks related to crypto-assets, use of blockchain technology, and complex fintech partnerships with nonbanks to deliver financial services to customers. Through its newly announced... Continue Reading…
