On July 13, 2023, Judge Analisa Torres of the United States District Court or the Southern District of New York issued an Order on competing motions for summary judgment in the closely followed SEC v. Ripple Labs, Inc. litigation. As the first court decision to broadly address the question of whether a cryptocurrency itself is a security, as the SEC has maintained it is in most circumstances, the Order may have broad implications to the state of crypto industry regulation in the US. Click here for a detailed discussion of the decision.
Finally, a Court Decides – XRP, by Itself, is Not a Security. Your Turn, Congress.
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Jennifer L. Klass
Jennifer L. Klass serves as the co-chair of Baker McKenzie's North America Financial Regulation and Enforcement Practice, which provides clients with a full range of regulatory advice and enforcement counseling. Jen is an experienced financial services regulatory lawyer with particular focus on investment adviser regulation and the convergence of investment advisory and brokerage services. She regularly represents clients before the US Securities and Exchange Commission (SEC), both in seeking interpretative guidance and in managing examination and enforcement matters.
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Amy Greer
Amy serves as the Co-chair of Baker McKenzie's North American Financial Regulation and Enforcement Practice, which provides our clients with a full range of regulatory advice and enforcement counseling. Amy also serves on the steering committees of the Firm's Global Financial Services Regulatory and Global Financial Institutions Groups. Previously, Amy has served as chief litigation counsel at the US Securities and Exchange Commission's (SEC) Philadelphia regional office and managed a team of lawyers overseeing a wide variety of enforcement matters.
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Gavin Meyers
Gavin Meyers is a Counsel in Baker McKenzie's Transactional Practice Group in North America. Gavin is an experienced financial services regulatory lawyer and former FINRA attorney with a focus on representing broker-dealers, investment advisers, FinTech, and digital asset firms and projects on regulatory, enforcement and compliance matters involving US federal and state securities laws, FINRA rules, and federal and state money transmission and payments regulations.
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Aiden O'Leary
Aiden O'Leary is an associate in Baker McKenzie's Financial Regulation and Enforcement Practice Group in North America. Aiden is a regulatory lawyer with a focus on federal and state securities laws impacting the broker-dealer and investment adviser industries. Prior to joining the Firm Aiden was an attorney with the NYS Department of Financial Services, where he focused his practice on the regulation, licensing, and supervision of a wide range of financial services companies, including those engaged in virtual currency businesses activity.