Archives

August 31, 2021 @ 11:58 am By JD Alois  |  

The ongoing legal battle between the Securities and Exchange Commission (SEC) and Ripple and its founders continues to work its way through the halls of justice.  While the SEC continues to pursue its belief that XRP (the digital currency created by Ripple) has always been… Read More

August 10, 2021 @ 10:13 pm By Tony Zerucha  |  

The Securities and Exchange Commission (SEC) this week announced an emergency action charging nine people, including a public company chairman, for their participation in long-running fraudulent schemes that collectively generated hundreds of millions of dollars from unlawful stock sales and caused significant harm to retail… Read More

August 4, 2021 @ 5:01 pm By Tony Zerucha  |  

The Securities and Exchange Commission (SEC) this week charged accounting firm Ernst & Young LLP (EY) along with one current and two former partners with improper professional conduct for violating auditor independence rules in connection with EY’s pursuit to serve as the independent auditor for… Read More

August 3, 2021 @ 11:05 am By JD Alois  |  

Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), has once again stated his opinion that cryptocurrency is in greater need of regulation in regards to investor protection concerns. Gensler has stated several times in the recent past his belief the crypto exchanges are… Read More

July 20, 2021 @ 9:03 pm By Tony Zerucha  |  

The Securities and Exchange Commission has announced five people who will serve on Chair Gary Gensler’s policy staff under Director Heather Slavkin Corzo. Corporation Finance Counsel Corey Klemmer was an analyst at the AFL-CIO’s Office of Investment. She will focus on ensuring policies allow investors… Read More

July 13, 2021 @ 10:45 pm By Tony Zerucha  |  

The Securities and Exchange Commission (SEC) has fined a subsidiary of Teachers Insurance and Annuity Association of America (TIAA) $97 million for producing inaccurate and misleading statements and a failure to adequately disclose conflicts of interest to thousands of participants in TIAA record-kept employer-sponsored retirement… Read More

July 8, 2021 @ 9:28 am By JD Alois  |  

Senator Elizabeth Warren, a member of the Senate Banking Committee, has sent a letter to SEC Chairman Gary Gensler telling the securities regulator that crypto exchanges may be undermining the SEC’s mission of basic investor protections. Gensler, for his part, has publicly worried that crypto… Read More

June 25, 2021 @ 12:16 pm By JD Alois  |  

Earlier this month, the Securities and Exchange Commission (SEC) shared its regulatory agenda for the next couple of years. The list is quite long and includes many areas of the securities industry. At the top of the list, was the exempt offering ecosystem with the… Read More

June 17, 2021 @ 6:07 pm By Tony Zerucha  |  

The Securities and Exchange Commission (SEC) has obtained an asset freeze and other emergency relief, and filed fraud charges, against Ramiro Jose Sugranes, UCB Financial Advisers Inc., and UCB Financial Services Limited for their involvement in an alleged “cherry-picking” scheme. According to the SEC, Sugranes,… Read More

June 14, 2021 @ 3:37 pm By JD Alois  |  

SEC Chairman Gary Gensler has selected Renee Jones as the Director of Corporate Finance and John Coates as General Counsel. Jones is a Professor of Law and Associate Dean for Academic Affairs at Boston College Law School. Previously, she represented private and public companies on… Read More

June 14, 2021 @ 12:31 pm By JD Alois  |  

Following the revelation of the regulatory agenda for the Securities and Exchange Commission (SEC) under the leadership of Chair Gary Gensler, two Commissioners have issued a statement criticizing the list of rules and regulations the Commission is expected to tackle in the coming months. Additionally,… Read More

June 13, 2021 @ 7:00 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has outlined its regulatory agenda for the coming months and at the top of the list are exempt securities that include Reg D and perhaps other exemptions such as Reg CF and Reg A+. Of note, is that the… Read More

May 26, 2021 @ 4:13 pm By JD Alois  |  

Gary Gensler, the Chairman of the Securities and Exchange Commission (SEC), testified today in front of the House Subcommittee on Financial Services and General Government, part of the Appropriations Committee, where he presented the litany of challenges his agency faces including emerging Fintech issues. The… Read More

April 29, 2021 @ 9:53 am By JD Alois  |  

A mere week after being announced as the new Director of the Division of Enforcement, Alex Oh has resigned for personal reasons, according to the Securities and Exchange Commission (SEC). Reportedly, Oh resigned due to a complication from a case that occurred while in private… Read More

April 14, 2021 @ 3:21 pm By JD Alois  |  

In a floor vote yesterday, the US Senate approved the selection of Gary Gensler as the next Chairman of the Securities and Exchange Commission. The current SEC Commissioners joined in welcoming the new Chair stating: “A warm congratulations to Gary Gensler on his Senate confirmation… Read More

March 14, 2021 @ 7:30 pm By JD Alois  |  

Last week, the Senate Banking Committee voted to 14-10 to move forward with Gary Gensler’s nomination as the Chairman of the Securities and Exchange Commission. On the same day, the vote was taken on Rohit Chopra and his nomination as Director of the Consumer Financial… Read More

March 8, 2021 @ 2:24 pm By JD Alois  |  

Last week the Senate Banking Committee held a confirmation hearing for Gary Gensler, the individual selected by President Biden to lead the Securities and Exchange Commission (SEC). Gensler is well known to Washington, DC having previously been Chairman of the Commodities Futures Trading Commission during… Read More

March 4, 2021 @ 4:34 pm By JD Alois  |  

SEC Commissioner Hester Peirce nudged the crypto crowd a bit this week pointing out that feedback on the SEC’s request for comments on digital asset custody is paltry at best. Commissioner Peirce has long been noted for her support of innovation in financial services and… Read More

January 28, 2021 @ 7:41 pm By Omar Faridi  |  

The US Securities and Exchange Commission (SEC) confirmed that it will be actively looking at stablecoins which are digital assets pegged 1-to-1 with major world currencies such as the US dollar, British pound, the Euro, the Singapore dollar, among many others. Nisa Amoils, a securities… Read More

January 18, 2021 @ 10:40 am By JD Alois  |  

Gary Gensler, the former Commodities Futures Trading Commissioner Chair, has been selected by President-elect Joe Biden to helm the Securities and Exchange Commission (SEC). Gensler previously led the CFTC during the Obama administration. Prior to the CFTC, Gensler spent 18 years at Goldman Sachs. He is… Read More