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Author Archives: James M. Falvey

About Author

James M. Falvey is a consultant with Bovill, a specialist financial services regulatory consultancy headquartered in London. He is also a contributing editor to John Lothian News.

Regarding the Pope and Credit Default Swaps Standard

By James M. Falvey, Contributing Editor, John Lothian News I once made the mistake of asking a Jesuit Priest what university he attended. The Jesuit, Father Phil, put down his pen and pad of paper, rubbed his hand over his forehead and back over his shiny scalp, grabbing onto the few grey strands left.  “Do you really want to know?” Phil asked me. “Yes, absolutely,” I said. “Okay. Which one?” “You went to more than one school?” I asked, sensing that there was not a quick and easy answer to my question. “Yep. Around ten.” Father Phil had a couple…

Notes from Consensus – Day 3 and Recap Standard

Consensus ended with a short, half-day of sessions on Wednesday, but the energy and number of participants was not diminished in the slightest. In fact, you might have thought that they were giving jobs away for free by the number of bright, young (and some old) faces that bustled at the afternoon job fair. Unlike a run-of-the-mill industry conference, where attendees linger more as a sign of duty, those at Consensus were energetic and boldly inquisitive. If only one in a hundred does well, that will be 85 new crypto millionaires out to make the world a better place. The…

Notes from Consensus 2018 – Day 2 Standard

As expected, Day 2 of Coindesk’s Consensus conference lacked some of the energy and fireworks of the first day but it did manage to defy what seems to be a law of nature: fewer people in attendance at the second day of an industry event when compared to the first. In this case, Coindesk announced that total registration ticked up to over 8,500 and it was definitely harder to fight the lines for lunch on the second day compared to the first. Somehow I survived. Beyond that, there was the expected slew of mostly underwhelming corporate enterprise announcements, some insights…

Notes from The Trading Show Chicago 2018 Standard

Terrapinn’s Trading Show has established itself as a sure sign of spring in Chicago, and while the past few years have found the event swinging heavily to a focus on the technology side of trading, including chips, servers, databases and connectivity, the 2018 edition of the show had a strong leaning towards…you guessed it: cryptocurrencies. Everywhere you go in financial markets in 2018, bitcoin and other cryptocurrencies are sure to be there. The exhibitors at the conference still skewed to the hard technology side (let’s face it, all of trading is touched by technology at this point) but the open…

Chicago Venture Capital Firms Are Funding Fintech Standard

Chicago may not be doing as well as some other cities in certain areas, but it is leading the charge in technological innovation in the financial world and in the crypto world. Several Chicago-based venture capital companies took part in a panel on financial innovation moderated by Chuck Mackie, consultant at Maven Wave Partners and contributing editor to John Lothian News, at The Trading Show Chicago on Thursday. DRW works with companies on development in the later stages. Its Digital Asset Holdings venture, headed by Blythe Masters, is building a database to speed up trading, clearing and settlement using blockchain…

CFTC Division of Enforcement Trends Standard

This piece was co-authored by Elizabeth Lan Davis, a former chief trial attorney at the Commodity Futures Trading Commission (CFTC), who joined Murphy & McGonigle a few weeks ago, and another lawyer at the Firm, Brian Walsh. On November 22, 2017, the Division of Enforcement (“Division”) of the Commodity Futures Trading Commission (“CFTC”) released its annual enforcement results, announcing that it had filed 49 enforcement actions for Fiscal Year 2017.  Despite the unexpected decrease to the CFTC’s budget, the agency’s enforcement program is on pace to markedly improve upon the number of filings made during Fiscal Year 2017. Since announcing…

Lessons From the “Not Guilty” Verdict in This Week’s Criminal Spoofing Trial Standard

Wednesday’s stunning “not guilty” verdict in United States v. Andre Flotron, only the second spoofing case ever taken to trial, is a reminder that it is extremely difficult for prosecutors to prove a defendant’s intent beyond a reasonable doubt in the absence of direct evidence. We should expect the DOJ and CFTC to reevaluate their charging practices in the wake of this significant defense victory. The seeds of the “not guilty” verdict were sown when the DOJ drafted an initial indictment charging Flotron in the District of Connecticut with a single count of conspiring with others to “drive prices” up…

Innovation in Distributed Markets Comes to Navy Pier Standard

The Chicago Blockchain Center and BTCMedia brought Distributed Markets to Chicago’s Navy Pier on Monday and a sizable audience was treated to myriad examples of how far cryptoassets have come and how many dynamic and potentially revolutionary efforts are happening right now. While there are still many cases of “innovation theater” and “pilot purgatory” (terms lifted from event panelists) as well as the fundamental question as to whether or not individual cryptocurrencies are worth their valuations, there are just as many serious commercial success stories, intriguing use cases, and promising paths forward to validate the hype. This was demonstrated right…

Bitcoin and Blockchain: A WILD Opportunity Standard

Bitcoin is not at the dizzying high it was back in December, but interest in cryptocurrencies and blockchain is still strong. The world of crypto and distributed ledger technology keeps expanding, with CME and Cboe now trading bitcoin futures, companies getting into initial coin offerings, cryptocurrency meetups forming, and the list of cryptocurrencies getting longer every week. Women In Listed Derivatives (WILD) and Morgan Lewis jointly hosted a panel on the future of blockchain and cryptocurrencies Tuesday evening to a packed house. The main takeaway on cryptocurrency from the panel was that, although crypto is a new and very speculative…