FINRA has recently proposed changes to its Rule 3240, which allows for scenarios where brokers can borrow from or lend to their clients. FINRA’s rule proposal would strengthen and clarify the general prohibition against these types of arrangements and would narrow the exceptions that fall under the prohibition. In its…
On Wednesday, January 10, 2024, for the first time in U.S. history, the Securities and Exchange Commission (SEC) approved the listing and trading of spot bitcoin exchange-traded funds (ETFs). Among those includes the Bitwise Bitcoin ETF (BITB)—the first spot bitcoin ETF issued by Bitwise Asset Management. Less than two months…
Grayscale led the fight at the Securities and Exchange Commission (“SEC”) for approval of spot bitcoin-exchange traded funds (“ETFs”). The battle began in 2022 after the SEC rejected Grayscale’s application to convert its bitcoin trust into a spot bitcoin exchange-traded fund because spot markets are unregulated and susceptible to fraud…
On January 10, 2024, the Securities and Exchange Commission (“SEC”) released a statement announcing the approval of the listing and trading of spot bitcoin exchange-traded product shares on national securities exchanges. This move by the SEC comes after years of heated debate between financial professionals, regulators, members of Congress, and…
In recent years, discussions about the gender pay gap have risen to the surface in a litany of industries and in just about every corner of the country. For far too long, women have earned less than their male counterparts, despite having the same, or better, job titles, backgrounds, and…
In the years following George Floyd’s death, many companies have introduced internal efforts to increase their diversity, equity, and inclusion (“DEI”) initiatives to protect those who have historically been disadvantaged. However, it is important that these companies are honest about their efforts, but in at least one case, it has…
Malecki Law regularly receives calls from people distraught by having funds stolen from their cryptocurrency (“crypto”) accounts. Unfortunately, the scant regulation in the crypto space has yet to be fully tested. In fact, according to Reuters, “[the] illicit use of cryptocurrencies hit a record $20.1 billion last year…” However, if…
Can my broker or investment advisor sell me cryptocurrency (“crypto”)? Is it an investment? The answer is not so simple; no, they cannot sell it directly, but they may try to sell it to you indirectly through a fund or private placement. Rest assured, it is still just as volatile…
On Thursday, November 9, 2023, New York City securities lawyer Jenice L. Malecki, Esq., will be part of a live panel at the 20th Annual Small Law Firm Symposium organized by the New York City Bar Association. The program will feature panels discussing some of the most pressing topics affecting…
Today, very few products use asbestos, an abundant and inexpensively produced heat-resistant mineral once common in a wide array of construction materials, auto parts, and firefighter equipment, to name a few. Its use was rampant until studies revealed that asbestos causes various forms of cancer—clearly a defective product, use of…