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Category Archives: ReformWiki

New CryptoMarketsWiki.com Site Planned by John Lothian Standard

John Lothian, the publisher of the John Lothian Newsletter and founder of MarketsWiki, today announced a new microwiki website, CryptoMarketsWiki (CMW), is in development in the burgeoning crypto markets area to launch late in the second quarter of 2018. The aim of CMW will be to educate and inform the public, traders, investors, industry professionals, government employees, the media and others interested in cryptomarkets, fintech, and related regtech subjects. “The crypto markets have grabbed the public’s attention, but there is a great deal of self-serving, promotional information that is being passed off as educational, and the investing public needs an…

JLN Interviews Renato Mariotti, Democratic Candidate for Attorney General Standard

Democratic Attorney General candidate Renato Mariotti stopped by the John Lothian News offices in the Chicago Board of Trade Building on Tuesday, March 6 for a sit down video interview. He has been a John Lothian Newsletter reader since 2012, and he used the market and industry knowledge he gained from reading the newsletter to bolster his success as a federal prosecutor. Mariotti is a former prosecutor in the US Attorney’s office in Illinois who is seeking election to a public office for the first time and is trying to replace Democratic insider Lisa Madigan. I endorsed Mariotti in JLN…

As SEC Subpoenas to Tech Companies in Digital Tokens Market Increase, What Issuers Need to Know Standard

  The Securities and Exchange Commission (“SEC”) reportedly has revved up its focus and issued a significant number of subpoenas targeting technology companies in the digital token space, following on earlier pronouncements from the agency that it would expand its focus on ICOs and cryptocurrencies. The subpoena process is one of the primary weapons in the SEC’s enforcement arsenal, and ICO issuers will need to understand what they can expect over the next few weeks.  What is a subpoena? A subpoena is a formal request from the SEC staff for documents or testimony, which can be enforced with a court…

The Silent Screams of the Bitcoin Shorts Standard

If bitcoin were a standard commodity or securities instrument, headlines would be screaming about how the “shorts” were being squeezed. With bitcoin in a parabolic price rise, some calling it a mania, there are no shorts to scream bloody murder. Many commodities and companies have key constituents who apply political pressure when futures markets are moving so sharply that common sense tells you there is something wrong or unbalanced happening in the market. Sometimes rules are changed or obscure procedures exercised at futures exchanges in order to accommodate an orderly liquidation of positions in cases where the powers that be…

Information and Cyber Security for the Futures Industry; A Perspective by VSEC, LLC Standard

The founders of a information and cyber security advisory firm have written a must read white paper for the futures industry about the business and regulatory challenges of cyber security and how to manage them. VSEC, LLC is an information and cyber security advisory company. Founding partners John Falck and Mike Phillips have many years experience in the derivatives industry, with both of them originally working for O’Connor & Associates through the Swiss Bank and UBS mergers. Business and regulatory requirements for information and cyber security are changing rapidly. In the futures industry, FCMs, prop traders, brokers, CTAs, CPOs and…

Robert K. Wilmouth Passes Away; Remembered as Respected Industry Leader and Colleague Standard

Robert K. Wilmouth, the founding National Futures Association president and CEO, passed away yesterday, the NFA said. Wilmouth served as head of the newly formed NFA from 1982 to 2003. He was succeeded by Dan Roth, who recently retired from the role and was replaced by Tom Sexton. Wilmouth also served as the president of the Chicago Board of Trade for about five years. He was brought to the exchange by then exchange chairman William D. Hagerty, Jr. Wilmouth’s futures industry career was preceded by some 27 years in banking, beginning in 1950 at the first National Bank of Chicago….

Alphabet Soup: The DAO, ETH, ICOs and the SEC Standard

By Jim Falvey Technology usually outpaces the law. It can take months, if not years, for legislators, regulators and courts to gain an understanding of technology and then to apply existing law to the new technology and/or create new laws for the technological developments. In the remarkable world of cryptocurrencies and distributed ledger technology (often referred to as “Blockchain”), we are seeing both occur. In May 2016, a virtual organization called The DAO, which stands for Decentralized Autonomous Organization, came onto the scene in the Ethereum world. For the uninitiated, the Ethereum Blockchain sponsors the second most significant virtual currency…

Time to Close the Asset Class Ban Loophole Standard

Corzine and his ilk Should be Banned Across All Asset Classes Note: A correction to this story has been posted here. The NFA and FINRA to recognize the bans of other regulators. With the recent news that former MF Global CEO Jon Corzine is attempting to make a comeback at age 70 as a hedge fund manager, it became clear there is a hole in our regulatory system that needs to be fixed. Corzine is banned for life by the CFTC from trading futures, yet he can operate in the securities and FX worlds managing other people’s money. It is…