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William B. Mack is a co-chair of the Financial Regulatory and Compliance Practice. He is experienced in advising companies on regulatory and compliance matters relating to the Securities and Exchange Commission regulations, the Exchange Act, Anti-Money Laundering laws and Financial Industry Regulatory Authority (FINRA) rules.

William’s practice involves all aspects of broker-dealer regulation, including Self-Regulatory Organization (SRO) membership, supervision, employment, research, soft dollar arrangements, chaperoning of foreign broker-dealers, social media, use of foreign finders, anti-money laundering rules, alternative trading systems (ATS), exchanges, and market making issues. He also provides regulatory guidance to investment banking clients in connection with securities offerings and related trading issues.

 

On June 2, 2022, the New York Senate passed Senate Bill S6486D (the Bill), which would amend the state’s environmental conservation law and set forth a two-year moratorium on certain
Continue Reading New York’s Proposed Moratorium on Cryptocurrency Mining Operations

On June 8, 2022, the New York State Department of Financial Services (DFS) issued a new Regulatory Guidance, setting foundational criterial for USD-backed stablecoins used by DFS-regulated entities. This
Continue Reading NYDFS Becomes First US Financial Regulator to Issue Stablecoin Expectations to Virtual Currency Industry

The digital asset and blockchain sector in 2021 saw exponential growth and adoption fueled by stablecoins, non-fungible tokens (NFTs), decentralized finance (DeFi), and decentralized autonomous organizations (DAOs). Headed into 2022,
Continue Reading Digital Assets Sector: What to Watch for in 2022

On Nov. 1, 2021, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (FDIC) joined with the president’s Working Group on Financial Markets (PWG) to
Continue Reading President’s Working Group on Financial Markets Releases Report and Recommendations on Stablecoins

On Sept. 25, 2020, the SEC issued a No-Action Letter to FINRA, in response to a previously issued Joint Statement by the SEC and FINRA. This No-Action Letter detailed how
Continue Reading SEC Issues No-Action Letter Facilitating the Secondary Trading of Digital Assets

On Sept. 21, 2020, the Office of the Comptroller of the Currency (the OCC) issued guidance pertaining to whether national banks could hold stablecoin reserves. That same day, the Securities


Continue Reading The OCC and SEC’s FinHub Issue Guidance on Fiat-Backed Stablecoin Reserves

In 2015, the New York Department of Financial Services (NYDFS) finalized rules creating the BitLicense for virtual currency exchanges operating in New York state. New York is currently the only
Continue Reading New York State Department of Financial Services Proposes Framework for a Conditional BitLicense