Dynamis LLP

Having a difficult time keeping track of all the developments in the crypto regulatory space over the past few months? Our latest blog post examines all the changes that have occurred with some predictions for what is next. #crypto #regulation #sec https://lnkd.in/eYKRPnmq

In an unprecedented action, the Trump administration has singled out Perkins Coie in a very broad executive order aimed at punishing past "misdeeds." In this lengthy blog post, Dynamis LLP tackles the executive order, analyzes the (many) defenses (both constitutional and statutory) the firm has in fighting the order, and provides advice for how other law firms can mitigate risk. #executiveorder #constitution https://lnkd.in/e2DSfVYW

For a bit of a lighter post on a Friday -- Dynamis LLP helps clients battle scammers and get the return of stolen crypto-assets. This is a difficult business, but sometimes we have success. Yesterday, we were able to help a client get the return of a large portion of her life savings and she made this (very well done) video in response (posted with permission). Great work! #crypto #scammers #assetrecovery #dynamis #XRP

"A former cryptocurrency chief executive in the United Kingdom facing civil fraud claims for his promotion of crypto projects has said the U.S. Securities and Exchange Commission tried to 'overstep its bounds' by suing him in Massachusetts even though none of his alleged actions connect him to the state." Thanks to Brian Dowling and Law360 for covering this motion to dismiss the SEC's complaint filed by Dynamis LLP attorneys Eric Rosen and Michael B. Homer. Read more about this interesting case at https://lnkd.in/eFvJwqS4 #SEC #Crypto #WhiteCollarDefense #FinancialRegulation #DigitalAssets https://lnkd.in/eRTnUQfh

Read the always entertaining Matt Levine on Eric Rosen's and Michael B. Homer's petition to the SEC on behalf of Dynamis LLP client Andrew Left. https://lnkd.in/evEFmuwN

Excellent discussion on CNBC regarding our petition to the SEC on behalf of Andrew Left. "If you want to say that [a stock] is great, you should be allowed to" do so truthfully, and there's a "very slippery slope" towards this becoming a "freedom of speech issue." CNBC's Andrew Ross Sorkin nailed it. The SEC petition that Dynamis LLP filed calls for regulatory clarity as to when individuals can trade after publicly commenting on a stock, from prominent investors such as Citron Research's Andrew Left, to everyday retail investors who discuss stocks on social media. The petition comes in response to growing uncertainty and concerns over recent SEC enforcement actions which target investors, not for making false statements about securities, but for allegedly contradicting their own publicly stated opinions through subsequent trading activity. The lack of clear guidelines has created an environment where millions of people who engage in routine discussions about stocks could now face SEC enforcement actions.? Watch the video here: https://lnkd.in/esDMiRv7 And read more about the petition here: https://lnkd.in/eUaCdNPW

Congratulations to Dynamis LLP partners Michael B. Homer and Constantine Economides for their recent trial victory against the SEC. Michael and Constantine represented Tom Capellini, a financial services professional who was accused of aiding and abetting a pump-and-dump securities fraud scheme. Following a four-day bench trial in federal court in Boston, Judge Richard Stearns of the U.S. District Court for the District of Massachusetts agreed with the defense, and found that the SEC failed to prove any of its claims against Capellini. Dynamis LLP also congratulates Aaron Katz and Keira Grimes Zirngibl of Aaron Katz Law LLC, stellar defense attorneys who successfully represented co-defendant Roger Bendelac, and obtained a complete trial victory for their client as well. https://lnkd.in/eJU6kzAT

Last week, Dynamis LLP filed a Petition for rule-making with the SEC on behalf of prominent investor, Andrew Left. The Petition calls for regulatory clarity as to when investors can trade after publicly commenting on a stock. As many know, the SEC (and DOJ as well) have filed multiple cases where they do not accuse the defendant of lying about the companies at issue; rather, the accusations are that the defendant made misrepresentations about his own trading intentions, which rendered his prior opinions false when made. These cases are fundamentally flawed for many reasons, including because they fail to grapple with the fact that markets are not static. Trading intentions can change within seconds or minutes depending on how the market moves. In addition, an individual's personal trading intentions and trades do not render public opinions to be false. People enter and exit positions for all sorts of reasons. We hope the SEC will take this Petition seriously and provide much needed clarity on this issue, which implicates core First Amendment concerns. Read about it on our blog. #SEC #securities #rulemaking https://lnkd.in/eMXTS7RG

Regulatory ambiguity is the devil, and never more so than when the penalties for doing something wrong can bankrupt you, kill your firm, and/or throw you in jail. Insider trading law has been defined and re-defined by numerous cases over time, and there’s still plenty of debate on what it is – or isn’t. I'm staunchly against actual, deliberate insider trading, but equally so the shoot-first-question-later approach a regulator may take when they mistake legitimate activity for wrongdoing. The cost of the investigation alone can kill you even if you’re ultimately cleared. That’s among my many worries about Shadow Trading - a purported version of the misappropriation theory of insider trading that's adding further ambiguity to the mix. The outcome of active litigation could make those worries a reality. Join me on January 30 for an AIMA - The Alternative Investment Management Association webinar to take a closer look at shadow trading. I'll be accompanied by two brilliant minds on compliance and the law – Scott Black of Hudson Bay Capital Management LP and Robert Frenchman of Dynamis LLP – to dive into the details and discuss what fund managers really need to know. Registration link is below in comments. #CCO #privatefunds #hedgefundmanagers #regulatorycompliance #investmentmanagers #compliance #insidertrading

Important announcement from Michael B. Homer on shadow trading.