Tagged: nasaa

BlockFi to Pay Each State $944K to Settle Claims of Sales of Unregistered Securities: Ohio Securities Commissioner – Hopefully Other Unregistered Fintech Firms Take Notice

Ohio

BlockFi will pay each US state $943,396.22 as part of a settlement alleging the offer and sales of unregistered securities. This is according to a note from the Ohio Division of Securities, that posted a consent order this week regarding the matter. In February, it… Read More

North American Securities Administrators Association Targets Peer to Peer Lending Platforms

Find Search Seek Money Magnify Scrutiny Dollar

The North American Securities Administrators Association (NASAA) is scrutinizing peer-to-peer lending. NASAA is the association and lobbying group that represents state and provincial regulators in North America. NASAA has issued a proposal on P2P lending and is seeking public comment on the Statement of Policy… Read More

BlockFi Settles with the SEC, Pays $100 Million in Penalties

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BlockFi, a top crypto platform that provides crypto lending services, has settled with the Securities and Exchange Commission following an investigation into the company’s activities. The settlement was leaked last week and BlockFi will be paying a total $100 million penalties. There were no allegations… Read More

NASAA Publishes Annual List of Investment Risks: Crypto – Digital Assets Top the List

Dark Web Dark Net Danger Beware Money

The North American Securities Administrators Association (NASAA) has published its annual list of investor lists. NASAA is the lobbying-representative group that represents state securities regulators across the US as well as provincial regulators in Canada and Mexican regulators as well. Topping the list for 2022… Read More

NASAA Fintech and Cybersecurity Symposium – Virtual

The program will begin with opening remarks from President Lubin. Following her will be a keynote address by Jonathan Rajewski, Managing Director of Digital Forensics and Incident Response with Stroz Friedberg. Rajewski is a recognized industry leader in the field of digital forensics who has… Read More

NASAA to Hold Fintech – Cybersecurity Symposium, Will Discuss DeFi

Rules Regulations

The North American Securities Administrators Association (NASAA) has scheduled a Fintech and Cybersecurity Symposium to take place on December 14, 2021. NASAA represents state, Canadian provincial, and Mexican securities regulators and thus play a key role in fraud enforcement and regulation. NASAA has 67 members,… Read More

NASAA Says More Enforcement Actions in Past Year

enforcement action ahead

The North American Securities Administrators Association (NASAA), the entity that represents state and provincial securities regulators, has distributed its annual Enforcement Report. In a public statement, NASAA said there have been a growing number of investigations and enforcement actions involving, precious metals, self directed IRAs,… Read More

NASAA Tells Biden Administration to “Pause on the further expansion and deregulation of the private offering marketplace”

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The North American Securities Administrators Association (NASAA) is distributing a letter sent to the Biden Administration asking the new President to “pause on the further expansion and deregulation of the private offering marketplace.” This includes exemptions created by the JOBS Act – a bill signed… Read More

Investment Crowdfunding Advocates Join to Launch New Fintech Startup GUARDD in Move to Boost Secondary Markets for Exempt Securities

Sherwood Neis and Doug Ellenoff

The exempt securities marketplace can be arcane and challenging to manage for entrepreneurs seeking to raise capital. The advent of online capital formation has helped to democratize access to capital as well as streamline securities offerings but hurdles do remain. A new startup co-founded by… Read More

NASAA Slams SEC Move to Clarify Rules Surrounding Finders

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The North American Securities Administrators Association (NASAA) distributed a comment letter today outlining its opposition to the proposal by the Securities and Exchange Commission’s move to clarify the role of Finders. A Finder is an individual that finds investors for smaller firms. A lack of… Read More

NASAA Fintech and Cybersecurity Symposium – Virtual

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The North American Securities Administrators Association (NASAA) today announced the agenda and speakers for its October 27, 2020, Fintech and Cybersecurity Symposium. The online symposium will be held from 1 p.m. to 5 p.m ET. Registration information is available on NASAA’s website, www.nasaa.org. Following remarks… Read More

NASAA Says Task Force is Tackling COVID Driven Securities Fraud

Dark Web Dark Net Danger Beware Money

The North American Securities Administrators Association (NASAA) reports that its COVID-19 Enforcement Task Force, has taken actions against 220 scams allegedly seeking to profit from the pandemic. These actions include including administrative actions, cease-and-desist orders, referrals to other regulators, and to social media and hosting… Read More

Modeled After Operation Cryptosweep, NASAA Forms COVID-19 Fraud Task Force

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  The North American Securities Administrators Association (NASAA) has created a new task force to address nefarious attempts of fraud leveraging the Coronavirus pandemic. The NASAA COVID-19 Enforcement Task Force is modeled after the “successful” Operation Cryptosweep that targeted digital asset scams and frauds. Christopher… Read More

NASAA Cautions About Fraud During COVID-19 Crisis, Reaffirms Opposition to Expansion of Accredited Investor Definition

Coronavirus COVID 19 c

Last week, the North American Securities Administrators Association (NASAA) cautioned an SEC Committee about the potential for fraud during the COVID-19 outbreak. NASAA is the lobbying group that represents state and provincial securities regulators. Christopher W. Gerold, NASAA President and Chief of the New Jersey Bureau… Read More

NASAA Slams SEC’s Proposal to Update Accredited Investor Definition to Enable Sophisticated Individuals to Qualify

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The North American Securities Administrators Association (NASAA), the entity that lobbies on behalf of state and provincial regulators, is “urging the Securities and Exchange Commission (SEC) not to move forward with its proposal to expand access to high-risk private securities offerings to individual investors.” NASAA… Read More

“Real Life Regulators” – North American Securities Administrators Association Launches Podcast Covering Fraud Enforcement Activities of State Securities Regulators

Bernie Madoff 5 Dollars Money Trust Me Not Fraud

The North American Securities Administrators Association (NASAA) has announced the launch of a new podcast series covering the escapades of securities regulators around North America. Entitled, Real Life Regulators, the podcast’s goal is to review and discuss fraud cases regarding the financial services industry. Christopher… Read More

North American Securities Administrators Association Calls Cryptocurrencies “Top Investor Threat” in 2020

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The North American Securities Administrators Association (NASAA) has identified cryptocurrencies as one of “the top five products or schemes likely to trap investors in the coming year.” NASAA, “represents state and provincial securities regulators in the United States, Canada, and Mexico,” and has, “a multifaceted… Read More

The North American Securities Administrators Association Hammers SEC’s Move to Broaden the Definition of an Accredited Investor

Christopher Gerold

The President of the North American Securities Administrators Association (NASAA), Christopher W. Gerold, has issued a statement regarding the Securities and Exchange Commission’s (SEC) proposal to modernize and improve the definition of an accredited investor. NASAA is the advocacy and lobbying group that represents state… Read More

NASAA President Christopher Gerold Comments on Fintech

Christopher Gerold

Christopher Gerold, President of the North American Securities Administrators Association (NASAA), recently spoke at NASAA’s 2019 Fintech & Cybersecurity Symposium. Gerold is also the Chief of the New Jersey Bureau of Securities. Gerold had this to say about Fintech: “Advances in financial technology [Fintech] and… Read More

Reg CF: In More than 3 Years this Crowdfunding Exemption has Seen Zero Fraud in Contrast to What Some Expected

Reg CF Title III

Reg CF [Regulation Crowdfunding], the smallest of the three crowdfunding exemptions created by the bi-partisan JOBS Act of 2012, became officially actionable in May of 2016. In that time, hundreds of issuers have raised money on FINRA regulated “funding portals” taking advantage of the internet… Read More

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