Archives

October 6, 2023 @ 12:08 pm By JD Alois  |  

Elon Musk has taken to X to predict a massive overhaul of the Securities and Exchange Commission (SEC) and other regulators. Responding to an X from Mario Nawful, Musk had this to say: “A comprehensive overhaul of these agencies is sorely needed, along with a… Read More

October 5, 2023 @ 10:49 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has issued an order directed at Elon Musk, seeking to compel the world’s wealthiest entrepreneur to “comply with an investigative subpoena calling for his appearance for testimony.” Musk, who acquired Twitter, now named X, has become a target for… Read More

October 3, 2023 @ 1:00 pm By JD Alois  |  

The SEC’s annual Small Business Forum took place earlier this year, and in recent days, the report from the gathering was published. The Forum has taken place for more than 40 years, and while the participants regularly provide good recommendations to the Commission, few will… Read More

September 27, 2023 @ 3:36 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has published a long list of rule changes it intends to pursue. The complete agenda established by the Commission, under the leadership of SEC Chair Gary Gensler, is available here. One of the rule changes near the top is… Read More

September 27, 2023 @ 10:14 am By JD Alois  |  

In the minutes before the testimony by SEC Gary Gensler in front of the House Financial Services Committee, the leadership has distributed a letter pounding Chair Gensler on the “cumulative impact” of the SEC’s rulemakings during his tenure. The Republican leadership demands that Gensler “ahalt… Read More

September 27, 2023 @ 9:55 am By JD Alois  |  

  Today, commencing shortly, SEC Chair Gary Gensler will testify in front of the House Financial Services Committee. You can expect a good grilling of Chair Gensler as the Republic-controlled Committee has pushed against his aggressive rule-making agenda that has propelled the SEC into the… Read More

September 25, 2023 @ 12:05 pm By JD Alois  |  

Securities and Exchange Commission Chair Gary Gensler will traverse up to Capitol Hill this week to testify in front of the House Financial Services Committee in what could be a fairly robust hearing. The hearing memo includes a litany of issues that Chair Gensler is… Read More

September 15, 2023 @ 10:30 am By JD Alois  |  

The Securities and Exchange Commission (SEC), Investor Advisory Committee will meet next week and will discuss two very important policy items that impact capital raising for private firms. The first panel discussion will review exempt securities offerings under Reg D. This exemption, only available to… Read More

September 13, 2023 @ 7:23 pm By JD Alois  |  

Earlier today, the Securities and Exchange Commission (SEC) announced an enforcement action against Stoner Cats and the creation of non-fungible tokens (NFTs) that were sold to the public. In total, Stoner Cats sold over $8 million in these NFTs which then were available for resale… Read More

September 13, 2023 @ 3:40 pm By JD Alois  |  

Stoner Cats 2 LLC has been charged by the Securities and Exchange Commission (SEC) for pursuing an unregistered securities offering with the issuance of non-fungible tokens (NFTs). This is the second enforcement action targeting an NFT issuer as it broadens its targets in the digital… Read More

September 12, 2023 @ 3:17 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) says it has settled charges against Yieldstreet, a top alternative investment platform mainly serving accredited investors. According to the SEC, Yieldstreet failed to disclose critical information pertaining to an asset-backed securities offering that totaled $14.5 million. Yieldstreet has settled… Read More

September 8, 2023 @ 8:41 am By JD Alois  |  

The Securities and Exchange Commission has settled charges against Linus Financial, Inc. for failing to register the offers and sales of its retail crypto lending product, the Linus Interest Accounts. The SEC decided against having Linus pay penalties as the company took “prompt remedial actions”… Read More

August 29, 2023 @ 5:26 pm By JD Alois  |  

Yesterday, Grayscale received a solid legal victory in its attempt to offer a Bitcoin ETF. A federal court deemed the Securities and Exchange Commission’s decision to block the launch of the exchange-traded product as “capricious”. Grayscale is currently reviewing its options and the SEC has… Read More

August 29, 2023 @ 4:25 pm By JD Alois  |  

SEC Commissioners Hester Peirce and Mark Uyeda have joined to issue a statement on the enforcement action taken by the Commission against NFT issuer Impact Theory. Yesterday, the SEC revealed its first enforcement action against an NFT issuer, with the firm settling the allegations without… Read More

August 28, 2023 @ 12:31 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against Impact Theory and the issuance of an NFT or non-fungible token that was deemed to be an unregistered offering of crypto asset securities. This is the first NFT offering that the SEC has targeted for… Read More

August 24, 2023 @ 9:29 am By JD Alois  |  

Yesterday, the Securities and Exchange Commission (SEC) adopted a new set of regulations for Private Fund Advisers. The new rules will require private fund advisers to provide investors with more information and sets a higher bar on compliance. Below, are several perspectives on the new rules… Read More

August 24, 2023 @ 8:44 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged former New Jersey State Correctional Police Officer John A. DeSalvo with fraud in relation to the offering of the “Blazer Token,” which the SEC believes is a “crypto asset security.” At the same time, the US Attorney’s… Read More

August 23, 2023 @ 2:08 pm By JD Alois  |  

In an open meeting of the Commission today, the SEC approved new rules to regulate private fund advisors. The SEC said that the new rules are designed to “protect private fund investors by increasing transparency, competition, and efficiency in the private funds market.” SEC Chairman… Read More

August 21, 2023 @ 11:36 am By JD Alois  |  

The SEC has charged Titan Global Capital Management, described as a “Fintech investment advisor,” with touting hypothetical performance that was misleading. Titan has settled the allegations without admitting or denying the SEC’s claims. The firm has paid a small penalty of $192,454 in disgorgement as… Read More

August 15, 2023 @ 2:50 pm By JD Alois  |  

The Chair of the House Financial Services Committee, Representative Patrick McHenry, along with other Committee Republicans, have sent a letter to the Chair of the SEC, Gary Gensler, as well as the FINRA President Robert Cook, questioning the relationship with Prometheum and the approval for… Read More