Tagged: mark uyeda

Commissioners Peirce, Uyeda Slam SEC’s $10 Million Penalty Targeting Intercontinental Exchange (ICE) Describes it as a Tool to Generate Year End Statistics, an Over-Reaction

The Securities and Exchange Commission (SEC) has penalized the Intercontinental Exchange (NYSE:ICE), the operator of the New York Stock Exchange, for failing to notify the SEC promptly of a cyber intrusion. ICE has agreed to pay a $10 million penalty to settle the allegations without… Read More

SEC’s New Climate Disclosure Rules on Pause Following Court Order

Earlier this month, the Securities and Exchange Commission (SEC) enacted new climate disclosure rules for public companies. This represents part of a broader political agenda at the SEC that aims to enact new rules that align with ESG or Environmental, Social, and Governance activist policies. The… Read More

Securities and Environment Commission: SEC Adopts New Climate Disclosure Rules, Legal Challenges to Follow

The Securities and Exchange Commission (SEC) has adopted new climate disclosure rules that fall under the ESG sector [environmental, social, and governmental]. The new rules will require reporting companies to disclose their environmental impact, a process that is difficult to measure accurately and will vex… Read More

The SEC’s Poorly Conceived Crypto Policy: Commissioners Peirce and Uyeda Criticize the Commission’s Slapdash Approach to Regulating Digital Assets

Reflecting on the enforcement action taken against ShapeShift, SEC Commissioners Hester Peirce and Mark Uyeda have criticized the Commission’s slapdash approach toward crypto under Chairman Gary Gensler. The Commissioners have issued a dissenting opinion on the enforcement action. In an Administrative Proceeding, it was determined… Read More

SEC Small Business Capital Formation Advisory Committee to Tell Commission Don’t Raise Accredited Investor Wealth Hurdles, Seeks to Make Definition More Inclusive

Yesterday (February 27, 2024), the Securities and Exchange Commission (SEC), Small Business Capital Formation Advisory Committee (SBCFAC), met to discuss several issues of importance that impact early-stage firms. Perhaps the most pressing issue is the definition of an Accredited Investor – a rule the Commission… Read More

Commissioner Uyeda: “Dealer” Definition is Practically Limitless, Could Impact Crypto

The Securities and Exchange Commission (SEC) continues to issue new rules at a breakneck pace. Today, the Commission has adopted new rules that impact “market participants who engage in certain dealer roles.” These market participants who shoulder significant liquidity roles in markets must soon register… Read More

Securities and Exchange Commission Reveals New Rules for SPACs – Commissioners Peirce, Uyeda Slam the New Regulations

Today, at an open meeting, the Securities and Exchange Commission (SEC) revealed new rules that will cover SPACs or Special Purpose Acquisition Companies. SPACs are “blank check” firms that are public firms that are created to enact a merger or acquisition of another firm. As… Read More

SEC Commissioner Mark Uyeda Returns for 2nd Term

Commissioner Mark Uyeda has been sworn in for a second term at the Securities and Exchange Commission (SEC). His previous term expired in 2023, and now Uyeda may remain at the SEC until 2028. Uyeda is one of two Republican Commissioners – the other being… Read More

Republican SEC Commissioners Issue Statement on Coinbase Petition Denial

Earlier this morning, the Securities and Exchange Commission (SEC) issued a statement denying the petition for rulemaking commenced almost two years ago by Coinbase (NASDAQ:COIN), the largest digital asset exchange in the US. SEC Chair Gary Gensler declared, “… To the extent that crypto assets… Read More

It was “Fan Crowdfunding” – SEC Commissioners Peirce and Uyeda Criticize Stoner Cats NFT Enforcement Action

Earlier today, the Securities and Exchange Commission (SEC) announced an enforcement action against Stoner Cats and the creation of non-fungible tokens (NFTs) that were sold to the public. In total, Stoner Cats sold over $8 million in these NFTs which then were available for resale… Read More

Two SEC Commissioners Question Enforcement Action on NFT Issuer Impact Theory

SEC Commissioners Hester Peirce and Mark Uyeda have joined to issue a statement on the enforcement action taken by the Commission against NFT issuer Impact Theory. Yesterday, the SEC revealed its first enforcement action against an NFT issuer, with the firm settling the allegations without… Read More

Comments on SEC’s New Rules on Private Fund Advisors

Yesterday, the Securities and Exchange Commission (SEC) adopted a new set of regulations for Private Fund Advisers. The new rules will require private fund advisers to provide investors with more information and sets a higher bar on compliance. Below, are several perspectives on the new rules… Read More

DiversyFund REIT, Issued Under Reg A+, Hit by SEC Administrative Action: Commissioner Uyeda Says No Expansion of Rule Requirements

DF Growth REIT II, LLC, managed by DiversyFund, has been hit with a Securities and Exchange Commission (SEC) administrative action. According to the SEC, DF Growth REIT II failed to adhere to certain requirements for securities issued under Reg A+, a JOBS Act exemption that… Read More

Unmapped Territory: SEC Commissioners Peirce and Uyeda Dissent on Commission’s Decision to Refuse CryptoFed DAO’s Request to Withdraw a Not Yet Effective Registration Statement

  SEC Commissioners Hester Peirce and Mark Uyeda have issued a public dissent of the Commission’s decision to deny CryptoFed DAO’s request to withdraw its registration statement and the motion to dismiss the case by the Division of Enforcement. In brief, in November 2021, the… Read More

SEC Commissioners Peirce and Uyeda Comment on Disapproval of Van Eck Bitcoin Trust

Today, the Securities and Exchange Commission (SEC) denied once again a request to list and trade shares of the VanEck Bitcoin Trust on the Cboe BZX Exchange. The Commission said that BZX had not demonstrated sufficiently it would protect investors and guard against fraud and… Read More

US Senate Confirms Two SEC Commissioners: Jaime Lizárraga and Mark Uyeda

The US Senate has confirmed two new SEC Commissioners; Jaime Lizárraga and Mark Uyeda. Lizárraga previously served as Senior Advisor to Speaker of the House Nancy Pelosi where he covered issues relating to financial markets, housing, international financial institutions, immigration, and small business policy. He… Read More

President Biden Nominates Mark Uyeda and Jaime Lizárraga as SEC Commissioners

The White House has finally selected two individuals to become Commissioners at the Securities and Exchange Commission (SEC). President Joe Biden has selected: Jaime Lizárraga Mark Uyeda According to the White House, Jaime Lizárraga is currently a Senior Advisor to Speaker of the House Nancy… Read More