Archives

November 19, 2021 @ 11:18 am By Tony Zerucha  |  

A review of the Securities and Exchange Commission’s (SEC) enforcement actions in this fiscal year show a growing threat posed by cryptocurrency and decentralized finance (DeFi) scammers. The year ended Sept. 30. The SEC filed 434 new enforcement actions in FY2021, and that is a… Read More

November 18, 2021 @ 6:13 pm By Tony Zerucha  |  

The Securities and Exchange Commission (SEC) today announced it has charged Ryan Ginster of Corona, Cal. with conducting two unregistered and fraudulent securities offerings which collectively raised more than $3.6 million in cryptocurrency from retail investors. The complaint alleges that, from 2018 up to 2021,… Read More

October 26, 2021 @ 9:58 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has posted the agendas for two upcoming Asset Management Advisory Committee (AMAC)  meetings. The first is on October 28 and the second on November 3. According to the SEC, the two meetings will include a discussion of matters in… Read More

October 13, 2021 @ 12:47 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Office of the Advocate for Small Business Capital Formation, has announced the creation of a capital raising navigator tool for firms seeking growth capital. A part of the SEC’s website, the tool covers the spectrum of options for entrepreneurs… Read More

October 6, 2021 @ 9:03 pm By JD Alois  |  

Yesterday, SEC Chairman Gary Gensler testified in front of the House Committee on Financial Services sharing his perspective on the goals of the SEC and why it needs more money to fulfill its mission. As anticipated, much of the testimony swirled around digital assets and… Read More

October 5, 2021 @ 9:20 am By JD Alois  |  

In prepared remarks distributed prior to the House Committee on Financial Services hearing later today, SEC Chairman Gary Gensler outlined his talking points as he asks the Committee for a significant budget increase while outlining his agenda for his term at the SEC. As should… Read More

October 4, 2021 @ 9:53 pm By JD Alois  |  

The House Committee on Financial Services will be holding a virtual hearing tomorrow entitled “Oversight of the U.S. Securities and Exchange Commission: Wall Street’s Cop Is Finally Back on the Beat.” SEC Chairman Gary Gensler will traipse back to the Capitol to update the Committee on… Read More

September 21, 2021 @ 11:47 am By JD Alois  |  

The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee will meet on Monday, September 27. The Committee was created by Congress to support the Commission with advice and recommendations on rules, regulations, and policy matters relating to small businesses, which have been ignored… Read More

September 15, 2021 @ 11:06 am By JD Alois  |  

SEC Chairman Gary Gensler marched up to Capitol Hill yesterday to testify in front of the Senate Banking Committee in a hearing entitled “Oversight of the U.S. Securities and Exchange Commission”.  Gensler outlined his ambitions at the SEC in his prepared remarks. While Gensler received… Read More

September 13, 2021 @ 3:37 pm By JD Alois  |  

Tomorrow (September 14, 2021), SEC Chairman Gary Gensler will testify in front of the Senate Banking Committee. The hearing is a periodic meeting for the Committee and is entitled “Oversight of the U.S. Securities and Exchange Commission”. In prepared testimony, Gensler focuses much attention on investor… Read More

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