Tagged: hester peirce

May 9, 2022 @ 5:26 pm By JD Alois  |  

SPACs, once red hot topping the traditional IPO market, have dimmed in recent months as the Securities and Exchange Commission has proposed new rules that may make the financing vehicle less viable. Today, the most prominent investment bank in the US, Goldman Sachs (NYSE:GS), has… Read More

May 9, 2022 @ 10:22 am By JD Alois  |  

Announced last week, the Securities and Exchange Commission (SEC) revealed its intent to step up its crypto enforcement actions with a newly renamed Crypto Assets and Cyber Unit doubling its headcount. The SEC outlined its reinvigorated mission as targeting digital asset offerings, crypto exchanges, lending… Read More

May 8, 2022 @ 6:38 pm By JD Alois  |  

Last week it was reported that the Securities and Exchange Commission (SEC) was doubling the size of its crypto enforcement team. The SEC also revealed that it had rebranded its Cyber Unit to the Crypto Assets and Cyber Unit to reflect its additional focus on… Read More

May 3, 2022 @ 11:20 am By JD Alois  |  

Last year was a big one for the SPAC [special purpose acquisition company] market. Reportedly, 613 SPAC offerings were floated on an exchange easily topping 420 traditional initial public offerings. Since the beginning of 2022, SPAC offerings have slowed to around 62 so far. SPACs… Read More

May 1, 2022 @ 4:27 pm By JD Alois  |  

The Securities and Exchange Commission is currently pursuing new rules under the auspices of ESG: Environmental, Social, and Governance. In March of 2022, SEC Chairman Gary Gensler explained they were aiming to require disclosure for firms on issues such as climate impact. He explained: “The… Read More

April 29, 2022 @ 5:33 pm By JD Alois  |  

The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee (SBCFAC) has scheduled a meeting to discuss two specific topics: SPACs or Special Purpose Acquisition Companies and Climate Disclosure. The meeting will take place on Friday, May 6, 2022. According to a statement by… Read More

April 15, 2022 @ 12:07 pm By JD Alois  |  

SEC Commissioner Hester Peirce is looking for an attorney to assist and advise on issues including crypto along with affiliated enforcement actions. Commissioner Peirce promoted the new position in a Tweet. As is well known, the Commissioner has been very supportive of Fintech innovation, along… Read More

March 31, 2022 @ 2:52 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has posted a Staff Accounting Bulletin (SAB) expressing the view of the staff regarding the “accounting for obligations to safeguard crypto-assets an entity holds for platform users.” The SAB adds “interpretive guidance” regarding “obligations to safeguard crypto-assets held for… Read More

March 30, 2022 @ 5:02 pm By JD Alois  |  

  SEC Commissioner Hester Peirce has posted a dissenting opinion regarding the rule proposal addressing SPACs. As was previously reported, the Securities and Exchange Commission has issued a 372-page proposal for new rules pertaining to Special Purpose Acquisition companies [SPACs]. SEC Chairman Gary Gensler described… Read More

March 24, 2022 @ 6:19 pm By JD Alois  |  

Last month, the SEC Small Business Capital Formation Advisory Committee held a virtual meeting to discuss the definition of an Accredited Investor. For anyone viewing the meeting, it was clear that Committee members would like to make it easier for individuals to qualify as Accredited,… Read More

March 21, 2022 @ 5:00 pm By JD Alois  |  

Today the Securities and Exchange Commission (SEC) proposed new rules to compel publicly traded firms to disclose climate-related information. The policy shift has long been anticipated and messaged by the Commission under the leadership of Chairman Gary Gensler. According to the SEC, new rules would… Read More

February 14, 2022 @ 5:27 pm By JD Alois  |  

Commissioner Hester Peirce has once again come to the defense of a Fintech innovator pertaining to the settlement announced today in regards to BlockFi –  a large crypto platform. As was reported earlier, BlockFi must pay $100 million in penalties to both the SEC and… Read More

February 12, 2022 @ 11:40 am By JD Alois  |  

Last week, the SEC Small Business Capital Formation Advisory Committee (SBCFAC) held a meeting to discuss the definition of an accredited investor. As CI has frequently covered in the past, this definition determines who may, or who may not, participate in Reg D securities offerings…. Read More

February 1, 2022 @ 11:26 pm By JD Alois  |  

Global Digital Finance, an advocacy group promoting digital assets (crypto-assets) has published its annual compendium of the digital asset sector. It should come as no surprise that GDF would like to see greater clarity globally when it comes to regulating crypto. According to the group’s… Read More

December 13, 2021 @ 8:16 pm By JD Alois  |  

SEC Commissioners Hester Peirce and Elad Roisman have once again voiced their concern regarding SEC Chairman Gary Gensler’s regulator agenda – a list that was recently updated. Last summer, Gensler published his regulatory agenda and now an update is available. When Gensler posted his initial… Read More

October 18, 2021 @ 10:33 pm By JD Alois  |  

Earlier today the Securities and Exchange Commission (SEC) published its “meme stock” report – otherwise known as the Staff Report on Equity and Options Market Structure Conditions in Early 2021. As was covered earlier, this report addresses the Gamestop/Robinhood/Reddit odyssey where retail investors created a short… Read More

September 28, 2021 @ 4:52 pm By JD Alois  |  

Speaking at the opening of the SEC’s Small Business Capital Formation Committee meeting held earlier this week, Commissioner Hester Peirce shared her opinion on several key topics regarding access to investment opportunities and improvements for crowdfunding exemptions. The subject of the definition of an accredited… Read More

September 7, 2021 @ 7:56 am By Paul H. Jossey  |  

Progressives should love cryptocurrency, the latest innovation that brings power to the people. Turns out, they don’t. Perhaps surprisingly, it is precisely because crypto circumvents the corporate, permissioned, speech-controlled online world that angers progressives. Crypto threatens to nix not just the corporation but also the… Read More

August 9, 2021 @ 11:45 am By JD Alois  |  

SEC Commissioner Hester Peirce, long a supporter of Fintech innovation, has issued a statement in the wake of the enforcement action taken by the Commission against Poloniex, a crypto exchange. As was reported earlier today, Poloniex has settled the SEC’s allegations of operating an unlicensed… Read More

July 14, 2021 @ 3:04 pm By JD Alois  |  

SEC Commissioners Elad Roisman and Hester Peirce have joined together in issuing a public statement on Blotics, a firm formerly operating as Coinschedule, and the enforcement action by the SEC that was revealed today. As was previously reported, the SEC has settled charges against the… Read More