Previously with Winston & Strawn, Ammons has for 15 years counseled a full spectrum of U.S. and non-U.S. clients on energy, commodities and derivatives matters. In recent years, he has also broken new ground with blockchain and cryptocurrency companies.
“We are thrilled to welcome Jon to Reed Smith, our group’s first new arrival of 2023” said Prajakt Samant, chair the firm’s Global Energy and Natural Resources Group. “Our clients will greatly benefit from his multifaceted experience with markets, commodities and energy companies that use derivatives and digital currencies, for which there remains strong demand in an ever-changing regulatory landscape.”
Over the years, Ammons has represented numerous clients in government investigations and disciplinary and enforcement actions before the CFTC, futures exchanges, the NFA, SEC and FINRA, including charges related to disruptive trading practices, manipulation, fraud and fiduciary duties. Ammons also regularly conducts internal investigations for clients related to potential violations of the Commodity Exchange Act and securities laws.
Additionally, Ammons helps a wide range of market participants comply with CFTC regulations applicable to trading in U.S. derivatives markets, including regulations under the Dodd-Frank Act. In this regard, Ammons regularly counsels energy companies, financial institutions, trading platforms, clearinghouses, funds and market intermediaries on compliance with all aspects of the CFTC’s regulations. Ammons has also successfully guided numerous clients through the CFTC registration process in nearly every capacity.
Ammons has particular experience counseling U.S. and non-U.S. trading platforms and clearinghouses on registration and compliance requirements, and he is actively involved in policy discussions regarding Swap Execution Facility regulations and clearing-related issues.
“I am thrilled to join Reed Smith,” Ammons said. “The firm has a fantastic group of lawyers with amazing experience in all of the key jurisdictions around the world, which is essential to many of my clients because the derivative markets are global in nature. I look forward to helping Reed Smith’s clients navigate the complicated regulatory issues that often arise in connection with trading and marketing operations.”
Ammons further advises a range of market participants on legal and practical issues related to trading in Bitcoin and other cryptocurrencies, and adopting blockchain-related technologies. For example, he has advised numerous clients as to whether launching a cryptocurrency product or engaging in a strategy would be subject to CFTC regulations; assisted clients with accessing several cryptocurrency exchanges; and helped prepare several product specifications for cryptocurrency derivatives products.
“Jon is perfect for Reed Smith’s seasoned regulatory and investigations teams,” said Lesley Reynolds, the D.C. office’s managing partner. “Jon shares with us an in-depth understanding of a complex regulatory environment, and his unique experience with derivatives, markets and crypto is greatly valued.”