STIPULATION AND PROPOSED ORDER FURTHER STAYING ACTION PENDING POTENTIAL SETTLEMENT

ROBERT C. JONES, District Judge.

WHEREAS, Plaintiff Securities and Exchange Commission (the "SEC") and Defendants Banc de Binary Ltd, Oren Shabat Laurent, ET Binary Options Ltd., BO Systems Ltd. Seychelles, and BDB Services Ltd. Seychelles, have reported to the Court that they reached a potential settlement in principle that would resolve this action and the action CFTC v. Banc de Binary Ltd et al., Case No. 2:13-cv-00992-MMD-VCF (the "CFTC Action");

WHEREAS, the defendants in this action and the CFTC Action, counsel for the CFTC and counsel for the SEC have executed a Term Sheet re: Proposed Global Settlement, dated August 27, 2015, reflecting the terms of their proposed agreement in principle (the "Proposed Global Settlement");

WHEREAS, the Proposed Global Settlement is subject to approval by both the Commissioners of the SEC and the Commissioners of the CFTC;

WHEREAS, in the interests of efficiency for the Court and the parties, the parties previously agreed to stay this action, subject to the Court's approval, so that the parties could finalize the governing documents for the Proposed Global Settlement, counsel for the SEC can recommend the settlement to the SEC Commissioners, and the parties can file, if approved by the SEC Commissioners, any resulting final settlement papers (see Dkt. No. 137);

WHEREAS, the Court approved and ordered the requested stay, staying the action until October 23, 2015 unless a party filed a notice to lift that stay (see Dkt. No. 138);

WHEREAS, the parties previously agreed to extend the stay a first time, subject to Court approval, to continue the process of finalizing the settlement documents and obtaining Commission approval (see Dkt. No. 139);

WHEREAS, the Court approved the parties' stipulation, staying the action until December 31, 2015, unless a party filed a notice to lift that stay (see Dkt. No. 140);

WHEREAS, the parties previously agreed to extend the stay a second time, subject to Court approval, to continue the process of finalizing the settlement documents and obtaining Commission approval (see Dkt. No. 141);

WHEREAS, the Court approved the parties' stipulation, staying the action until February 8, 2016, unless a party filed a notice to lift that stay (see Dkt. No. 143);

WHEREAS, because the parties have made substantial progress toward finalizing the governing documents for the Proposed Global Settlement (including the defendants' execution of settlement papers to be filed in the United States, Cyprus and Israel), the parties have agreed to stay the action further, subject to the Court's approval, for an additional two weeks, so counsel for the SEC can recommend the settlement to the SEC Commissioners, and so the parties can file, if approved by the SEC Commissioners, any resulting final settlement papers; and

WHEREAS, the parties to the CFTC Action are simultaneously filing a similar proposed stipulation and order to stay the CFTC Action, for the same duration;

ORDER

IT IS HEREBY ORDERED that this action is stayed until February 22, 2016.

IT IS FURTHER ORDERED that Summary Judgment Motions (ECf # 126 and 128) are DENIED without prejudice.

IT IS FURTHER ORDERED if the SEC Commissioners do not approve a settlement or a final settlement is not otherwise reached, with all definitive final documents filed with the Court, by February 22, 2016, then the litigation shall resume on that day, without further action of the Court and with the parties restored to their respective positions as of the this stipulation. The SEC may then refile its summary judgment motion or before February 29, 2016. Moreover, on or before February 26, 2016, the parties agree to jointly request a status conference with the Court to address the remaining pretrial and trial schedule.

IT IS SO ORDERED.