Stamping Out Regulatory Risk in Crypto Using the Howey Test
This discussion will help managers better understand the changing, and often confusing crypto regulatory landscape, including an overview of the regulatory ecosystem and the Howey Test in context of crypto.
Speakers
Michael Briody
FX & Crypto Market Specialist
Bloomberg
For over 12 years Michael has been a Foreign Exchange Market Specialist working with international investment banks and multinational corporations, assisting clients to understand FX market trends. Michael has taken on a specialty in cryptocurrencies to help clients navigate this new frontier. Prior to joining Bloomberg, Michael worked as a Senior Foreign Exchange Dealer with 20 years of FX trading experience in New York at U.S and International investment banks, including Morgan Stanley, Lehman Brothers and BNP Paribas. Michael holds a BBA in Finance from Hofstra University and currently resides in Lattingtown, N.Y.
Fizza Khan
Regulatory Compliance, ESG and Due Diligence
Silver Regulatory Associates
A pioneer in providing outsourced compliance services to investment firms, Fizza Khan is an expert on regulations governing investment advisers, broker-dealers and registered and private funds. As a hands-on leader across the firm’s flagship service lines – Regulatory Compliance, ESG and Due Diligence Preparation – Fizza ensures Silver’s clients are fully prepared to withstand regulator and investor scrutiny. Through leadership positions at compliance consultancies, in-house legal counsel and compliance roles at various financial institutions and law firm practice, Fizza developed an approach for her clients that calibrates best practices with their business realities. Having personally handled numerous SEC examinations while in-house and as a consultant, Fizza knows how to satisfy regulator and investor expectations without creating unmanageable complexity. Prior to founding Silver, Fizza was the Chief Operating Officer for U.S. Compliance Consulting and a Managing Director at Duff & Phelps. She joined Duff & Phelps in January 2016 as a result of their acquisition of CounselWorks LLC where she was a Partner. At both Duff & Phelps and CounselWorks, Fizza managed the day-to-day provision of compliance services to firm clients and built the foundations upon which advice was given. Fizza developed her insider perspective from her experience at a wide range of financial institutions. As senior counsel and the U.S. Chief Compliance Officer for DKR Oasis Management, a global private investment fund manager, Fizza was responsible for all U S. regulatory matters and supervision of domestic employees. As Chief Compliance Officer for the investment management business of Sandler O’Neill Advisors, Fizza registered the firm with the SEC as an investment adviser and developed and oversaw its compliance program. She also served as the Chief Compliance Officer for the Equities Group at Sandler O’Neill + Partners and, in that capacity, was responsible for the firm’s SEC and FINRA compliance programs. In addition, Fizza managed a number of formal SEC and FINRA regulatory examinations for the Sandler firms. As in-house counsel at Deutsche Banc, Fizza advised numerous registered and private fund managers as to fund and advisory entity structuring, prepared their SEC regulatory filings and, for the registered funds, performed analysis required by the Investment Company Act of 1940. As an associate in the investment fund practice at Kramer Levin, Fizza specialized in the formation and management of registered and private funds. Fizza received a Bachelor of Science in Business from Drexel University, where she concentrated on Finance and Economics and published a thesis on the effects of derivative trading regulation. She earned a Juris Doctor from the University of Maryland School of Law.