Tagged: sec

Whatever Happened to the Ascenergy Crowdfunding Fraud Case?

Ascernergy Not

The case of the Ascenergy crowdfunding fraud came to light just as Reg CF or Title III crowdfunding rules were announced to the public in October of 2015.   Ascenergy, an aspiring oil and gas operation, had raised about $5 million from approximately 90 investors,… Read More

SEC Equity Market Structure Advisory Committee

SEC Blue

The Securities and Exchange Commission will hold a meeting of the Equity Market Structure Advisory Committee on August 2, beginning at 9:30 a.m. EDT.  The Commission established the advisory committee to provide a formal mechanism through which the Commission can receive advice and recommendations on… Read More

Trendon Shavers Gets 18 Months in Prison for Bitcoin Savings & Trust Fraud

Handcuffs Busted Arrested

According to Reuters, Trendon Shavers, founder of the Bitcoin Savings and Trust company, received 18 months in prison and was ordered to pay back $1.25 million to his victims.  The sentence was handed down this week by US District Judge Lewis A. Kaplan in Federal… Read More

OTC Markets Presents on Reg A+ at SEC ACSEC Meeting (Deck)

Elio Trading on OTCQX

Daniel Zinn, General Counsel of OTC Markets, visited the SEC Advisory Committee on Small and Emerging Companies (ACSEC) today. He followed a presentation by Paul Elio of Elio Motors to continue a theme on Reg A+, providing liquidity and the future of venture markets. The… Read More

Here is the Draft ACSEC Letter to the SEC on Definition of Accredited Investor

ACSEC Sarah Hanks and Stephen Graham

Below is the draft letter from the Advisory Committee on Small and Emerging Companies (ACSEC) regarding the definition of an Accredited Investor. The Committee is working on the details now with one of the suggestions being a test of sophistication that allows a work-around from… Read More

SEC ACSEC Meeting to Review Reg A+, Elio Motors Experience

Paul Elio

The SEC Advisory Committee on Small and Emerging Companies (ACSEC) has published its agenda for its meeting next week and it should be a more interesting gathering. As part of the ACSEC program, the SEC Division of Corporate Finance will deliver an update on the… Read More

Fact Sheet: SEC Proposes Rules to Simplify Disclosure Requirements

SEC Securities and Exchange Commission

The Securities and Exchange Commission proposed rules today to streamline and simplify certain disclosure requirements to “eliminate redundant, overlapping, outdated, or superseded provisions.” SEC Chair Mary Jo White commented on the proposal; “The proposed amendments address outdated and redundant disclosure requirements while continuing to require… Read More

SEC Advisory Committee on Small & Emerging Companies Schedules Meeting for July 19th

Sara Hanks ACSEC

The SEC Advisory Committee on Small & Emerging Companies (ACSEC) has scheduled its next meeting for Tuesday, July 19, 2016 commencing at 9AM. These meetings are held at the SEC Headquarters in Washington, DC and are open to the public. The SEC will live-stream the… Read More

SecondMarket, Bitcoin Investment Trust, Settle with the SEC

Bitcoin 2

The SEC filed an administrative proceeding today regarding a Cease & Desist instituted against SecondMarket and Bitcoin Investment Trust (BIT).  The entire affair relates back to an event in 2013, where BIT, a Delaware trust whose sole assets were bitcoins, began offering shares on the… Read More

Brief: SEC Investor Advisory Committee to Hold Meeting on July 14th

SEC Securities and Exchange Commission

The SEC Investor Advisory Committee (IAC) has scheduled a meeting for Thursday, July 14, 2016.  The agenda for the IAC meeting is scheduled to include remarks from the SEC Commissioners; a discussion of the state of sustainability reporting; a discussion regarding investment company reporting modernization;… Read More

SEC Seeks to Scale Disclosure Requirements

mary jo white November 2015

The Securities and Exchange Commission has proposed amendments that would increase the financial thresholds in the “smaller reporting company” definition. The proposal is in recognition of the fact that smaller firms are not as well-equipped and financed to endure the costly reporting requirements. “Raising the… Read More

SEC Quietly Injects Life Into Title III Crowdfunding Solicitation!

Reg CF Securities for Sale

  When it comes to capital formation for SME’s through federal legislation, one can usually count on the North American Securities Administrators Association (NASAA) to do their best to block or narrow any new paths which Congress or the SEC may seek to create.  The… Read More

GlobalCrowdTV Settles with SEC, Acknowledges Violations of Federal Securities Laws

Stop Fraud

Steven J. Muehler, operator of the Alternative Securities Markets, Blue Coast Securities and GlobalCrowdTV, has settled with the Securities and Exchange Commission while admitting the conduct violated federal securities laws.  The proceedings by the SEC came out of an apparent “scheme to defraud”  by Muehler…. Read More

SEC Approves Investors Exchange as a National Securites Exchange

IEX on iPhone

Last night the Securities and Exchange Commission (SEC) announced they had approved Investor’s Securities Exchange or IEX as a national securities exchange. IEX must satisfy certain standard conditions specified in the Commission’s order before it is able to begin the process of transitioning its operation… Read More