Archives

October 15, 2022 @ 4:32 pm By JD Alois  |  

Last week, Senator John Hickenlooper sent a letter to SEC Chairman Gary Gensler criticizing the SEC’s inability to provide bright-line rules on digital assets. One of the most interesting aspects of the letter is that it came from a Democrat Senator who is chastizing an… Read More

October 15, 2022 @ 3:28 pm By JD Alois  |  

This past week, the SEC’s Small Business Capital Formation Advisory Committee met to discuss several key topics regarding access to capital and smaller firms. One of the topics revolved around initial public offerings (IPOs), a sector of finance that tanked in 2022. In fact, according… Read More

October 7, 2022 @ 4:15 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has re-opened the commenting period due to a “technological error,” according to a statement by the regulator. Historically, when the Commission proposes new rules, there is a period of time where individuals and entities may comment as to how… Read More

October 4, 2022 @ 12:19 pm By JD Alois  |  

Yesterday, as was widely reported, well-known celebrity and influencer Kim Kardashian settled an enforcement action brought by the Securities and Exchange Commission (SEC). The infraction had to do with an Instagram post for EthereumMAX, the issuer of the EMAX token. The post, which was tagged… Read More

October 3, 2022 @ 7:20 pm By JD Alois  |  

The Financial Stability Oversight Council has published the expected Report on Digital Asset Financial Stability Risks and Regulation. According to the US Department of Treasury, the Council voted unanimously to approve the report in response to President Biden’s Executive Order 14067, “Ensuring Responsible Development of… Read More

October 3, 2022 @ 8:24 am By JD Alois  |  

Global influencer, celebrity, and entrepreneur Kim Kardashian has settled charges with the Securities and Exchange Commission (SEC) regarding allegations of promoting a “crypto asset security” without revealing she was paid for touting the digital asset on social media. The promotion took place in June of… Read More

September 28, 2022 @ 6:35 pm By JD Alois  |  

The Securities and Exchange Commission (SECI  has filed charges against The Hydrogen Technology Corporation, former CEO, Michael Ross Kane, and Tyler Ostern, the CEO of Moonwalkers Trading Limited, for allegations regarding the sale of unregistered “crypto asset securities” of Hydro. The SEC also alleges that… Read More

September 22, 2022 @ 6:27 pm By JD Alois  |  

Several weeks back, the SEC Small Business Capital Formation Advisory Committee (SBCFAC) met and discussed secondary transactions for securities issued under Regulation A (Reg A+) as well as Reg CF. Private securities must adhere to various rules for investors to sell a holding creating hurdles… Read More

September 22, 2022 @ 4:38 pm By JD Alois  |  

Several House Republicans have sent a letter to SEC Chairman Gary Gensler challenging his authority to demand climate disclosure reports from firms as well as other proposed rules, including ESG ambitions and areas like SPACs. Republican members of the House, including the top Republican on… Read More

September 19, 2022 @ 3:19 pm By JD Alois  |  

The SEC’s Investor Advisory Committee (IAC) is scheduled to hold a meeting this week, on September 21st. The agenda of the meeting has just been released. The meeting will focus on four panels including: Human capital management labor valuation and performance data; 10B-1 position reporting; 13D… Read More

September 16, 2022 @ 6:07 pm By JD Alois  |  

Currently, the Democrats control the legislative and executive branches of government meaning they should be able to run wild with their legislative agenda. The reality is a bit different though, due to close margins in both the House and Senate and the fact that moderates… Read More

September 16, 2022 @ 2:44 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed fraud charges against Gabriel Edelman, Creative Advancement LLC, and Edelman Blockchain Advisors LLC, for allegedly defrauding investors out of $4.39 million. According to the SEC, Edelman and his affiliated entities offered and sold securities using false and… Read More

September 15, 2022 @ 5:39 pm By JD Alois  |  

SEC Chairman Gary Gensler testified in front of the Senate Banking Committee today, reiterating his opinion that in regards to digital assets  (or crypto assets) that the vast majority are securities. The exception being Bitcoin, and perhaps Ethereum – which entail much of the crypto… Read More

September 14, 2022 @ 10:48 am By JD Alois  |  

On Monday, the US Department of Justice announced it had received a guilty plea from the “first-ever cryptocurrency insider trading case.” Originally covered this past July, the Securities and Exchange Commission (SEC) simultaneously filed insider trading charges along with the U.S. Attorney’s Office for the… Read More

September 11, 2022 @ 6:35 pm By JD Alois  |  

The JOBS Act of 2012, the legislation that also legalized online capital formation, included multiple regulatory updates. One, Title 1, has been a notable success as it has helped a growing number of smaller firms to go public. Title III created Regulation Crowdfunding or Reg… Read More

September 9, 2022 @ 6:08 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has created two new offices – one focused specifically on the digital asset or crypto-asset sector. According to the SEC, the Office of Crypto Assets has been added to the Division of Corporation Finance’s Disclosure Review Program (DRP). The… Read More

September 8, 2022 @ 2:12 pm By JD Alois  |  

SEC Chairman Gary Gensler continues to assert that pretty much all digital assets are securities and should be regulated as such. As part of the SEC Speaks series, Chair Gensler said that of the approximately 10,000 “tokens” he believes they are securities and the few… Read More

September 6, 2022 @ 11:57 am By JD Alois  |  

The Securities and Exchange Commission (SEC), Investor Advisory Committee (IAC) has scheduled a meeting for September 21st. According to the Sunshine Act Notice, the IAC will be discussing Climate Disclosure along with a recommendation made by the Committee. Currently, the SEC is proposing new rules… Read More

September 1, 2022 @ 7:37 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged the Archer Capital Management Group, Archer Growth Fund, and two related entities, HDR Management LLC and Silvermoon Group LLC, with an alleged fraudulent scheme that raised $2.6 million from at least 20 unsuspecting investors. According to the… Read More

August 24, 2022 @ 8:35 pm By JD Alois  |  

Several days ago, SEC Chairman Gary Gensler took to the pages of WSJ.com to reflect on crypto markets and regulations. This has been a hot topic for several years now as clear-cut rules by regulators still don’t quite exist. Chair Gensler is of the opinion… Read More