The Securities and Exchange Commission (SEC) has revealed multiple enforcement actions involving allegations of insider trading. The charges are also being joined by parallel criminal charges filed in the Southern District of New York. According to the SEC, three actions emanated from the SEC Enforcement… Read More
When the US Securities and Exchange Commission (SEC) filed a lawsuit against blockchain-focused Fintech firm Ripple Labs in December 2020, the crypto industry and larger community had reacted with alarm and many were surprised. The SEC’s lawsuit also led to Ripple hiring high-profile legal experts… Read More
The Securities and Exchange Commission’s (SEC) lawsuit against Ripple is the largest enforcement action attacking the sale of a cryptocurrency to date. The SEC alleges the sale of an unregistered security in the issuance of XRP, Ripple’s native token. Ripple has been quick to defend… Read More
A motion by plaintiffs in a class action suit against Ripple Labs to keep the case in California courts was denied this week by a judge. The case will now move to federal court. Lawyers for class action plaintiff Ryan Coffey filed the suit against… Read More
How times have changed. Ripple Labs, creators of the third largest cryptocurrency (CRP) by market cap following only Bitcoin and Ethereum, have hired two well known big legal guns to defend their case in the California Courts. Ripple has hired former SEC Chair Mary Jo… Read More
As Oprah Winfrey put it during her acceptance speech at the Golden Globes on January 7th, 2018. The reverberations of her words have re-ignited, for anyone who thought it was a just a trend, the importance of #metoo, the industry-agnostic movement. Actually, it is all-encompassing… Read More
2016 brought with it many developments in the crowdfunding industry, most notably the introduction of the long-awaited Title III crowdfunding. While admittedly not all crowdfunding legislation passed was as influential, there have been significant strides made to improve existing securities regulations and to continue prying… Read More
The Securities and Exchange Commission (SEC) has announced that Enforcement Director Andrew J. Ceresney will depart the agency by the end of the year. Ceresney has been with the SEC for four years as the head of SEC Enforcement – the largest division of the… Read More
The Securities and Exchange Commission (SEC) announced on Monday Stephen Luparello, Director of the Division of Trading and Markets, will leave the agency by the first of the year. Luparello was named director of the office in February 2014, and the organization stated he played a… Read More
The SEC has had a busy week. First, the Commission held its first Fintech Forum, as suggested by Commissioner Piwowar, indicating its growing interest in financial technology disruption. This morning, SEC Chair Mary Jo White testified before the House Financial Services Committee regarding the SEC… Read More
Outgoing SEC Chair Mary Jo White will be testifying today (November 15, 2016) before the House Financial Services Committee. White announced her intent to depart the Commission at the end of the Obama’s administration yesterday (November 14th). The somewhat routine hearing is entitled; “Examining the… Read More
SEC Chair Mary Jo White announced her departure plans today. As the Obama administration is quickly coming to a close, White stated her intent to leave at the end of his term. White was appointed the Chair of the SEC in April of 2103 becoming… Read More
The U.S. Securities and Exchange Commission (SEC) kicked off its Fintech Forum today with remarks by Chair Mary Jo White, followed by Commissioner Michael S. Piwowar and Commissioner Kara M. Stein. Chair White told the audience that “with power comes responsibility”, namely that new fintech products should… Read More
The Securities and Exchange Commission (SEC) voted to update Rules 147 and 504 today. The regulatory changes will improve the environment for intrastate crowdfunding. Some in the industry believe that intrastate crowdfunding may do better than Title III/Reg CF as some states have crafted more… Read More
Almost a year ago, the SEC proposed certain amendments to the current Rule 147 which were intended to help foster, and increase the viability of, Intrastate crowdfunding. While little has been heard about these amendments since their release (except from Intrastate proponents like me of… Read More
The SEC has scheduled a meeting to consider proposed amendments related to Rules 147 and 504 – securities regulations that impact intrastate crowdfunding. The meeting of the Commission is scheduled to commence at 10AM on Wednesday, October 26 at SEC HQ in Washington, DC. The… Read More
Senator Elizabeth Warren is rattling cages once again. This time, she is blasting SEC Chair Mary Jo White asking President Obama to fire or demote Chair White in a public letter. According to her letter, Warren states “enough is enough”, that Chair White has undermined… Read More
SEC Chair Mary Jo White reaffirmed her interest in providing improved liquidity for shares in smaller companies mentioning specifically Reg A+ and Reg CF. In a wide-ranging speech on equity market structure, White injected a “word on quality markets for smaller companies.” White stated; “…I… Read More
Two important elements of the JOBS Act are Title III and Title IV. These two portions of the act created Reg CF, retail crowdfunding, and Reg A+, a scaled disclosure exemption for companies to raise up to $50 million. In the opening remarks of the… Read More
The Securities and Exchange Commission proposed rules today to streamline and simplify certain disclosure requirements to “eliminate redundant, overlapping, outdated, or superseded provisions.” SEC Chair Mary Jo White commented on the proposal; “The proposed amendments address outdated and redundant disclosure requirements while continuing to require… Read More
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