Tagged: sec

March 15, 2022 @ 11:56 am By JD Alois  |  

SEC Commissioner Allison Herren Lee has announced her pending departure from the Commission. According to a statement, Lee’s term expires this June and she has decided to exit the top US securities regulator at that time. Commissioner Lee issued the following statement: “My term as… Read More

March 8, 2022 @ 3:03 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced fraud charges against John and JonAtina (Tina) Barksdale – a brother and sister team that allegedly pursued two fraudulent digital token offerings that garnered $124 million from retail investors. In a parallel action, the U.S. Attorney’s Office… Read More

March 7, 2022 @ 6:59 pm By Omar Faridi  |  

Luna Foundation Guard, which secured $1 billion to establish a Bitcoin reserve for the UST stablecoin, has confirmed that the funding would be channeled towards creating a new reserve that may serve as a release valve for UST redemptions at the time of selloffs in… Read More

March 7, 2022 @ 4:16 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has posted its agenda for its upcoming meeting of the Investor Advisory Committee which will take place this week. The Committee has scheduled two-panel discussions: the first is about ethical artificial intelligence and “Robo-adviser” fiduciary responsibilities, and the second… Read More

February 23, 2022 @ 11:05 am By JD Alois  |  

Last month, the Securities and Exchange Commission (SEC) approved BSTX as a national securities exchange thus ushering in the first regulated exchange utilizing blockchain technology. BSTX is a joint venture between BOX Digital Markets, LLC and tZERO, a digital asset firm that called SEC approval a “watershed event in… Read More

February 17, 2022 @ 2:43 pm By JD Alois  |  

Last week the SEC’s Small Business Capital Formation Advisory Committee held a meeting to discuss the definition of an Accredited Investor. This definition decides who can, and who cannot, access certain private securities offerings – all based on an income or wealth metric. It does… Read More

February 17, 2022 @ 11:08 am By Omar Faridi  |  

The US Securities and Exchange Commission (SEC) is reportedly looking into the relationship between the US division of Binance, the world’s largest digital asset exchange, and two trading companies with alleged ties to Binance founder Changpeng Zhao or “CZ”, according to sources familiar with the… Read More

February 14, 2022 @ 5:27 pm By JD Alois  |  

Commissioner Hester Peirce has once again come to the defense of a Fintech innovator pertaining to the settlement announced today in regards to BlockFi –  a large crypto platform. As was reported earlier, BlockFi must pay $100 million in penalties to both the SEC and… Read More

February 14, 2022 @ 4:05 pm By JD Alois  |  

BlockFi, a top crypto platform that provides crypto lending services, has settled with the Securities and Exchange Commission following an investigation into the company’s activities. The settlement was leaked last week and BlockFi will be paying a total $100 million penalties. There were no allegations… Read More

February 12, 2022 @ 11:40 am By JD Alois  |  

Last week, the SEC Small Business Capital Formation Advisory Committee (SBCFAC) held a meeting to discuss the definition of an accredited investor. As CI has frequently covered in the past, this definition determines who may, or who may not, participate in Reg D securities offerings…. Read More

February 12, 2022 @ 9:49 am By Omar Faridi  |  

BlockFi Inc. is reportedly getting ready to pay $100 million in order to settle allegations from the US Securities and Exchange Commission (SEC) and State regulators that it had been illegally offering a product that pays clients really high interest rates to lend out their… Read More

February 11, 2022 @ 6:58 pm By JD Alois  |  

The US Securities and Exchange Commission (SEC) has filed charges against Wahed Invest, a “robo-advisor,” for “misleading statements and breaching its fiduciary duty, and for compliance failures.” Wahed has consented to the, without admitting or denying the SEC’s findings, while paying a penalty. Wahed Invest… Read More

February 10, 2022 @ 8:22 am By Omar Faridi  |  

The US Securities and Exchange Commission (SEC) is watching. It likely will not be long before the first enforcement action against a Non-Fungible Token (NFT) issuer is announced. The 80+ enforcement actions the regulators have taken to date on cryptocurrency, digital assets, and Initial Coin… Read More

February 7, 2022 @ 5:04 pm By JD Alois  |  

The SEC Small Business Capital Formation Advisory Committee will hold a meeting later this week (February 10) where it will address an important topic when it comes to access to capital for early-stage firms. Following an update from the Advocate for Small Business Capital Formation,… Read More

February 2, 2022 @ 3:30 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced a “bifurcated” judgment against an issuer 420 Real Estate LLC and its CEO Willard Jackson, parties that raised money on an investment crowdfunding platform. As was reported last fall, the SEC had filed fraud charges against TruCrowd… Read More

January 31, 2022 @ 8:06 am By Omar Faridi  |  

Digital asset firm Gemini says that they’re pleased to confirm that Gemini Galactic Markets (Gemini Galactic), an affiliate of the Gemini Trust Company, has received approval from FINRA to serve as a broker-dealer registered with the US Securities and Exchange Commission (SEC) and has officially… Read More

January 30, 2022 @ 12:25 pm By Omar Faridi  |  

Fidelity is reportedly trying to make its own moves into the fast-evolving Metaverse economy. Fidelity, which manages trillions of dollars in customer assets, has submitted an application with the US Securities and Exchange Commission (SEC) this past Friday for an exchange-traded fund (ETF), known as… Read More

January 27, 2022 @ 10:03 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has approved BSTX as a national securities exchange thus ushering in an era of a regulated exchange utilizing blockchain technology. The complete SEC filing is available below. BSTX is a joint venture between BOX Digital Markets, LLC and tZERO. … Read More

January 26, 2022 @ 4:47 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has settled actions against two Arizona-based Fintechs ZipRemit and Lendaily. The SEC that final judgments have been entered against the two firms along with CEO Gary Prior. Without admitting or denying the allegations of the amended complaint, Pryor, ZipRemit,… Read More

January 24, 2022 @ 10:05 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has once again denied an attempt to list a Bitcoin Exchange Traded Fund (ETF). In a filing last week, the SEC outlined its justification “disapproving a proposed rule change to list and trade shares of the First Trust SkyBridge… Read More