Tagged: hester peirce

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 @ 9:47 am By JD Alois  |  

SEC Commissioner Hester Peirce has shared her thoughts on the enforcement action taken against Kraken. The crypto exchange agreed to pay a $30 million penalty pertaining to its staking service. The ability for US clients to earn a return on parked Proof of Stake digital… 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

October 13, 2022 @ 4:18 pm By JD Alois  |  

Today the SEC’s Small Business Capital Formation Advisory Committee (SBCFAC) held a meeting to address two important topics. The sagging initial public offering (IPO) market and access to capital for vital entrepreneurial markets. Both, are key policy ambitions – more so during a time of… 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

August 19, 2022 @ 4:57 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Small Business Capital Formation Advisory Committee (SBCFAC), is telling the Commission to help SPACs [Special Purposed Acquisition Companies] work – not shut them down by over-regulating. Posted last month, in a letter to Chairman Gary Gensler, the SBCFAC stated:… Read More

August 5, 2022 @ 12:18 pm By JD Alois  |  

Last week during the meeting of the SEC Small Business Capital Formation Advisory Committee (SBCFAC), members voted to support improvements to secondary trading of crowdfunded securities – more specifically, to exempt state laws when it comes to the trading of securities under Tier 2 of… Read More

August 1, 2022 @ 12:35 pm By JD Alois  |  

Earlier this year, the Securities and Exchange Commission (SEC), Small Business Capital Formation Advisory Committee (SBCFAC), held a meeting to discuss proposed rules on climate risk disclosure. The meeting addressed potential rule changes initiated by the SEC and championed by SEC Chairman Gary Gensler. When… Read More

July 31, 2022 @ 4:31 pm By JD Alois  |  

This past week, the Securities and Exchange Commission (SEC) published its 41st annual Small Business Forum report, an effort to help guide the Commission on important issues facing small businesses and access to capital in the USA. While the SEC focuses most of its attention… Read More

June 16, 2022 @ 10:59 am By JD Alois  |  

Earlier this month, US Senators Kirsten Gillibrand and Cynthia Lummis revealed their long-anticipated legislation aiming to provide a clearcut regulatory regime for the digital asset industry. The language of the bill represents a comprehensive approach for crypto including digital securities, stablecoins, and more while selecting… Read More

June 16, 2022 @ 10:08 am By JD Alois  |  

SEC Commissioner Hester Peirce posted a speech this week that addresses crypto markets and regulation. Commissioner Peirce has long taken a thoughtful approach in regards to digital asset innovation while generally being supportive Fintech. Peirce mentioned the bipartisan legislation published this month that aims to… Read More

May 27, 2022 @ 4:33 pm By JD Alois  |  

SEC Commissioner Hester Peirce and CFTC Commissioner Caroline Pham have partnered on an Op-Ed published this week in the Hill calling for progress on the regulation of decentralization. Alluding to possible friction between the two agencies as regulators jostle as to which sector of crypto… Read More

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