Archives

February 28, 2023 @ 5:56 pm By JD Alois  |  

  The SEC Small Business Capital Formation Advisory Committee (SBCFAC) was created by Congress in recognition that smaller firms too frequently did not garner the support they need. The Committee formally provides feedback to the Commission and, ostensibly, the SEC should be reviewing and pursuing… Read More

February 27, 2023 @ 11:10 am By JD Alois  |  

In recent weeks, the Securities and Exchange Commission (SEC) has stepped up its enforcement activities in regard to the digital asset ecosystem. In the past, SEC Chairman Gary Gensler has asserted that all digital assets are securities, with the exception of Bitcoin. At one point,… Read More

February 23, 2023 @ 4:53 pm By JD Alois  |  

The Chairman of the House Financial Services Committee, Patrick McHenry, and the Chairman of the Subcommittee on Oversight and Investigations, Bill Huizenga, along with Senator Tim Scott, the ranking member on the Senate Banking Committee, have joined in sending a letter to SEC Chairman Gary… Read More

February 10, 2023 @ 9:25 am By JD Alois  |  

  SEC Chair Gary Gensler received some face time this morning on CNBC in the wake of the Commission’s enforcement action taken against crypto exchange Kraken. The platform was compelled to pay a $30 million penalty for its staking service offered to US investors. Staking… Read More

February 9, 2023 @ 4:06 pm By JD Alois  |  

Following industry rumblings anticipating the move, the Securities and Exchange Commission (SEC) has taken action against crypto exchange Kraken in regard to their staking service. Kraken has settled the charges by the SEC without admitting or denying the allegations and paying a $30 million penalty…. Read More

February 6, 2023 @ 8:47 am By JD Alois  |  

CI recently published an update on Reg CF [Regulation Crowdfunding], an exemption that allows a business to raise up to $5 million in an online securities offering. Investors may be non-accredited or accredited. While the legislation creating Reg CF was signed into law in 2012,… Read More

February 3, 2023 @ 5:07 pm By JD Alois  |  

The Securities and Exchange Commission has filed fraud charges against a US-based LLC – Windsor Jones and its principal based in the UK, Anthony Collins. According to the SEC, the firm and Collins pursued a fraud involving purported fine wine investments raising at least $4… Read More

February 3, 2023 @ 3:11 pm By JD Alois  |  

Renee Jones, SEC Director of Corporation Finance, has issued a statement on her final day at the Commission. Jones thanked SEC Chair Gary Gensler, along with all of the Commissioners as well as several former ones, along with her leadership team. Jones stated: “It has been… Read More

January 27, 2023 @ 8:08 am By Omar Faridi  |  

US securities regulators are looking into the operations of investment advisers over crypto-asset custody. The US Securities and Exchange Commission (SEC) is examining the activities of registered investment advisers over whether they’re following applicable guidelines around custody of customer digital assets. This, according to sources… Read More

January 23, 2023 @ 4:14 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) is on the hunt for new additions to the  Small Business Capital Formation Advisory Committee (SBCFAC). The Committee, which was created by legislation signed into law during the Obama administration, aims to provide the Commission with advice and feedback… Read More

January 23, 2023 @ 12:00 pm By JD Alois  |  

Representative Bill Huizenga,  a member of the House Financial Services Committee and new Chair of the Subcommittee on Oversight and Investigations, has put Securities and Exchange Commission (SEC) Chair Gary Gensler on notice. In a Tweet, Huizenga said that oversight of the SEC is at… Read More

January 22, 2023 @ 3:59 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged Avraham Eisenberg, a 27-year-old U.S. citizen who was arrested and detained at MDC Guaynabo, Puerto Rico, with attempting to manipulate MNGO tokens – the native token of Mango Markets. Eisenberg is expected to appear before the Southern… Read More

January 19, 2023 @ 5:27 pm By JD Alois  |  

Beleaguered crypto firm Nexo has had to pony up a $45 million penalty following charges filed by the Securities and Exchange Commission (SEC). Without admitting or denying the SEC’s findings, Nexo agreed to a cease-and-desist order. Nexo had previously announced its exit from the United… Read More

January 12, 2023 @ 6:03 pm By JD Alois  |  

The ongoing virtual fisticuffs between Gemini and Genesis – a subsidiary of Digital Currency Group (DCG), just took a dramatic twist as the Securities and Exchange Commission (SEC) has filed charges against both Gemini and Genesis pertaining to the Gemini Earn program and the sale… Read More

December 28, 2022 @ 9:59 am By JD Alois  |  

American CryptoFed DAO, LLC’s forthcoming administrative hearing, as demanded by the Securities and Exchange Commission (SEC), is scheduled to take place on January 18, 2023. The Hearing Day 4 is labeled as public on the SEC’s event page. It was previously reported that hearings were… Read More

December 14, 2022 @ 9:48 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed fraud charges against eight influencers pertaining to a $100 million securities fraud plot. Simultaneously, criminal charges have been leveled at the individuals by the Department of Justice’s Fraud Section and the U.S. Attorney’s Office for the Southern… Read More

December 13, 2022 @ 7:52 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed fraud charges against Sam Bankman-Fried, founder and former CEO of FTX. The crypto exchange filed bankruptcy last month as allegations of malfeasance surfaced. In a simultaneous action, the Commodities Futures Trading Commission (CFTC) announced charges as well…. Read More

December 11, 2022 @ 4:51 pm By JD Alois  |  

The team at Crowdfund Capital Advisors (CCA) has issued their annual warning to firms that utilized Reg CF (Regulation Crowdfunding) to file their annual statements – as required by the exemption. If a company has not filed their annual report they are in breach of… Read More

December 8, 2022 @ 4:28 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Division of Corporate Finance, has revealed a sample letter sent to reporting companies regarding disclosure requirements under securities laws. The letter addresses digital assets, or crypto assets, and points to recent events in crypto markets, such as bankruptcies and… Read More

November 7, 2022 @ 6:46 pm By JD Alois  |  

“We Lost. Sorry Everyone.” LBRY, issuer of digital asset LBC has lost its case against the Securities and Exchange Commission in a decision that some have described as a significant setback for the entire crypto sector. Back in 2021, LBRY was charged by the SEC with… Read More