Archives

February 16, 2024 @ 9:41 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has penalized Van Eck, an exchange-traded fund (ETF) and mutual fund manager, for not disclosing the role of an “influencer” in the launch of a new ETF. The specific ETF was the VanEck Social Sentiment (VEAC) ETF (NYSE:BUZZ). Van… Read More

February 15, 2024 @ 3:36 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has obtained a final judgment against She Beverage and its principles, including Lupe L. Rose, Sonja F. Shelby, and Katherine E. Dirden. The charges pertain to a suit filed by the SEC in 2021. Approximately 2000 investors were impacted… Read More

February 14, 2024 @ 5:30 pm By JD Alois  |  

The Securities and Exchange Commission has submitted a rule change that will slightly increase the amount of money that can be committed to a “qualifying venture capital fund” for purposes of the Investment Company Act of 1940 (Act). The increase would raise the cap from… Read More

February 7, 2024 @ 1:48 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed another enforcement action targeting a digital asset firm. The SEC has filed charges against TradeStation Crypto, alleging an unregistered offering of a “crypto asset lending product.” TradeStation Crypto has settled the charges without admitting or denying the… Read More

February 6, 2024 @ 3:48 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) continues to issue new rules at a breakneck pace. Today, the Commission has adopted new rules that impact “market participants who engage in certain dealer roles.” These market participants who shoulder significant liquidity roles in markets must soon register… Read More

January 31, 2024 @ 7:05 pm By JD Alois  |  

Ram Ahluwalia, founder of PeerIQ (sold) and now founder of Lumida, has slammed Chairman Gary Gensler, claiming the damage he has done to the Securities and Exchange Commission (SEC) is significant. Ahluwalia references an article that quoted former SEC Commissioner Michael Piwowar. In the article… Read More

January 29, 2024 @ 10:24 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against HyperFund and its principles alleging a $1.7 billion “Crypto Pyramid scheme.” Founders Xue Lee (aka Sam Lee) and Brenda Chunga (aka Bitcoin Beautee) were said to have promoted HyperFund which allegedly claimed guaranteed returns for… Read More

January 25, 2024 @ 3:49 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) Office of Investor Education and Advocacy, the North American Securities Administrators Association (NASAA), and the Financial Industry Regulatory Authority (FINRA) have jointly issued a warning regarding the rise of investment frauds involving the use of artificial intelligence (AI) –… Read More

January 24, 2024 @ 11:09 am By JD Alois  |  

Today, at an open meeting, the Securities and Exchange Commission (SEC) revealed new rules that will cover SPACs or Special Purpose Acquisition Companies. SPACs are “blank check” firms that are public firms that are created to enact a merger or acquisition of another firm. As… Read More

January 23, 2024 @ 4:20 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has revealed an order demanding Crowd Machine, Metavine, and founder Craig Sproule to disgorge $19,676,401.27 raised in an “unregistered and fraudulent offering of crypto asset securities.” Additionally, pre-judgment interest in the amount of $3,358,147.75 is being added to the… Read More

January 16, 2024 @ 12:39 pm By Omar Faridi  |  

The US Securities and Exchange Commission (SEC) is reportedly willing to postpone the Terraform Labs trial for Do Kwon‘s extradition. The SEC agreed to the delay of the civil trial against Terraform Labs and its co-founder Do Kwon for allegedly carrying out a $40 billion… Read More

January 13, 2024 @ 11:34 am By JD Alois  |  

The Securities and Exchange Commission (SEC) experienced an embarrassing breach of security when its X (formerly Twitter) account was hacked. The perpetrators took the opportunity to announce the approval of Bitcoin ETFs one day before the SEC intended to announce it publicly. In the following… Read More

January 11, 2024 @ 5:16 pm By JD Alois  |  

The House Financial Services Committee has announced the Oversight and Investigations Subcommittee will hold a hearing entitled: “Oversight of the SEC’s Proposed Climate Disclosure Rule: A Future of Legal Hurdles.” The hearing is scheduled to take place on Thursday, January 18, 2024, at 10 AM… Read More

January 10, 2024 @ 5:57 pm By JD Alois  |  

Representative Patrick McHenry,  Chairman of the House Financial Services Committee, has joined the Chairman of the Subcommittee on Oversight and Investigations, Bill Huizenga, the Chairman of the Subcommittee on Digital Assets, Financial Technology and Inclusion, French Hill, and the Chairman of the Subcommittee on Capital… Read More

January 10, 2024 @ 4:57 pm By JD Alois  |  

As was reported earlier today, after an extended deliberation, the Securities and Exchange Commission (SEC) has approved eleven Bitcoin ETFs. CI has received multiple comments on the approval which is a seminal event for the crypto industry. Rajeev Bamra, SVP of Digital Finance at Moody’s… Read More

January 10, 2024 @ 4:21 pm By JD Alois  |  

After a false start yesterday, the Securities and Exchange Commission has filed an Order granting approval for eleven spot Bitcoin ETFs to trade on national exchanges. According to the document: “NYSE Arca proposes to list and trade shares of (1) the Grayscale Bitcoin Trust3 and… Read More

January 10, 2024 @ 10:13 am By JD Alois  |  

Yesterday, the Securities and Exchange Commission (SEC) posted a video on X discussing the recent Staff review of the definition of an Accredited Investor. The video states that the review of fhe definition is mandated to take place every four years, according to Dodd-Frank. The… Read More

January 9, 2024 @ 4:30 pm By JD Alois  |  

Minutes ago, it was reported that the  Securities and Exchange Commission (SEC) had approved the first Bitcoin Exchange Traded Funds (ETF). Apparently, the SEC’s X account was “compromised,” and the statement on X by SEC Chair Gary Gensler was bogus. The X has now been… Read More

January 8, 2024 @ 9:21 am By JD Alois  |  

This past Friday, the Securities and Exchange Commission (SEC) revealed an enforcement action that was initially filed last October. According to the SEC, it received a temporary restraining order, an asset freeze, and other relief to halt an ongoing fraud targeting the Indian community that… Read More

January 3, 2024 @ 1:35 pm By JD Alois  |  

Commissioner Mark Uyeda has been sworn in for a second term at the Securities and Exchange Commission (SEC). His previous term expired in 2023, and now Uyeda may remain at the SEC until 2028. Uyeda is one of two Republican Commissioners – the other being… Read More