Canadian securities regulators approved the offering of the first two Canadian Bitcoin ETFs. The ETF units have been conditionally approved for listing on the Toronto Stock Exchange.
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Southern District of New York Reaffirms That Seven-Year Window for Reporting Delinquent Account Resets Following Cure and Later Repeated Default Wednesday, February 17, 2021
On February 1, 2021, the Southern District of New York denied Jason Wimberley’s motion to file a second amended complaint finding that despite the liberal standard applied to
pro se pleadings, his proposed second amended complaint failed to state a claim under the Fair Credit Reporting Act (FCRA) against Experian Information Solutions (“Experian”).
Wimberley v. Experian Information Solutions, 2021 WL 326972 (S.D.N.Y. Feb.1, 2021).
The proposed second amended complaint contained twelve separate causes of action related to his student loans, including multiple counts for violations of FCRA and New York’s state law counterpart. Wimberley’s credit reporting claims were largely based on his contention that information regarding his student loans was reported beyond the s
Tuesday, February 16, 2021
In recent days, several major companies have moved toward implementing cryptocurrency transactions in their business. Tesla stated in its recent Annual Report that it had “invested an aggregate $1.50 billion in bitcoin” and expected to “begin accepting bitcoin as a form of payment for [its] products in the near future.”
[i] Mastercard announced that it would “start supporting select cryptocurrencies directly on [its] network” in 2021.
[ii] And BNY Mellon issued a press release regarding the opening of a new “enterprise Digital Assets unit” to assist customers in their custody and administration of cryptocurrency holdings.
[iii]
Despite these strides toward mainstream acceptance of cryptocurrency for use in everyday transactions, there is legal risk under the securities laws, including SEC enforcement risk, surrounding the release and implementation of new cryptocurrencies. The former Chairmen of the SEC and CFTC publ
Tuesday, February 16, 2021
Despite the uncertainty of 2020, initial public offerings (IPOs) in the US set records in 2020, recording 407 IPOs that raised a total of $145 billion. The 2020 IPO boom more than doubled the 195 IPOs recorded in 2019 that raised a total of $56 billion. Special purpose acquisition companies (SPACs), which made up 230 IPOs, influenced the bulk of the IPO activity in 2020. Although most of the SPACs have not yet completed their mergers, the completed SPAC mergers in 2020 showed a 41 percent return. Excluding SPACs, traditional IPOs raised $83 billion across 203 issuers, again representing the strongest IPO market in two decades.
Although retailers made up only a small portion of the IPOs in 2020, the number of retail IPOs has increased year over year, and we expect this trend to continue into 2021. For example, mattress retailer Casper filed its IPO in February. As market volatility decreased, more retailers announced plans to go publi