Tagged: sec

SEC IAC Publishes Agenda for Next Meeting Including Blockchain Panel

The Securities and Exchange Commission (SEC) has published the agenda for the upcoming Investor Advisory Committee (IAC) meeting scheduled for October 12th. The meeting may be a bit more interesting as there is a panel scheduled to discuss Blockchain utilization or Distributed Ledger Technology (DLT)… Read More

We All Get Hacked: SEC Chair Clayton Comments on 2016 Intrusion into EDGAR

SEC Chairman Jay Clayton issued a statement today tackling the importance of cybersecurity and detailing the agency’s approach to cybersecurity as an organization and as a regulatory body. The pronouncement comes at a time following the revelation of the massive Equifax hack that has put… Read More

SEC Investor Advisory Committee to Meet in October, Blockchain on the Agenda

The Securities and Exchange Commission (SEC) Investor Advisory Committee (IAC) has scheduled its next meeting at SEC HQ for October 12th. The meeting is open to the public but the SEC always live streams the proceedings on the SEC web site. According to the announcement… Read More

SEC Chairman Jay Clayton Comments on Final ACSEC Meeting as Transition to New Committee Commences

Yesterday the final meeting of the Securities and Exchange Commission’s Advisory Committee on Small and Emerging Companies (ACSEC) took place in Washington, DC. ACSEC, launched in 2011, will now transition over to the Small Business Capital Formation Advisory Committee – an entity with a similar… Read More

Securities and Exchange Commission Commences Search for “Advocate for Small Business Capital Formation”

The Securities and Exchange Commission (SEC) has announced the launch of a nationwide search to fill the position of the Advocate for Small Business Capital Formation. The new post was created by legislation signed into law at the end of 2016. The mission of the Advocate… Read More

SEC Advisory Committee on Small and Emerging Companies to Meet on September 13

  The Securities and Exchange Commission (SEC) has scheduled the next meeting of the Advisory Committee on Small and Emerging Companies (ACSEC) to take place on September 13.  As part of the agenda, ACSEC will discuss the Sarbanes-Oxley Act auditor attestation requirement and explore whether… Read More

NYU Roundtable On SEC Enforcement And Examination Priorities – New York City

Chairman Jay Clayton, Division of Enforcement Co-Directors Stephanie Avakian and Steven Peikin, and Office of Compliance Inspections and Examinations Acting Director Peter Driscoll, will participate in New York University School of Law’s Roundtable on SEC enforcement and examination priorities. Contact Michelle Tsai, 212-998-6849, michelle.tsai@nyu.edu

SEC Chairman Names Executive Staff

Securities and Exchange Chairman Jay Clayton has published the name is his executive staff. The SEC announced that John Cook, Jeffrey Dinwoodie, Raquel Fox, Kristina Littman, Alan Cohen, Christopher Carofine, and Shelby Begany Telle have been named to the executive staff of Chairman Jay Clayton…. Read More

SEC Office of Investor Education & Advocacy Warns of Potential ICO Scams as it Suspends Trading in Several Companies

The Securities and Exchange Commission (SEC), office of Investor Education and Advocacy, is out with a note on the booming Initial Coin Offering market telling investors to beware. The ICO market has grown rapidly with estimates topping $2 billion in token sales this year alone…. Read More

Credo ICO is at $8.3 Million, Organizers want to top $10 Million

The Credo Initial Coin Offering (ICO), listed on Bitbounce, is in full swing having currently raised over $8 million.  But Credo organizers want more. In less than 3 5 days, Credo wants to push that number to over $10 million. According to a note distributed by… Read More

Don’t Panic! US Securities Exemptions for Initial Coin Offerings

So you were ready to do an initial coin offering (ICO), and then the Securities Exchange Commission released an investigative report concluding that DAO tokens were securities.  Seasoned securities attorneys have always known that token sales could implicate securities laws if the tokens were treated… Read More

The SEC Really Does Not Know How Much is Being Raised Under Reg D

Regulation D, or Reg D as everyone calls it, is probably the most powerful capital raising exemption in the US. Just about every single successful early stage company has leveraged Reg D in its various iterations. In 2013, the SEC enacted final rules for Title… Read More

Final Judgement Document on Ascenergy Crowdfunding Fraud

Some times the wheels of justice move slowly. And sometimes the documentation associated with these wheels lag as well. File this one under recently discovered. The Securities and Exchange Commission released, this past June, the Agreed Final Judgement regarding the case of the Ascenergy crowdfunding… Read More

SEC Suspends Trading of CIAO Group in Advance of ICO

CIAO Group (formerly traded on the pink sheets under CIAU) has received a suspension notice from the Securities and Exchange Commission (SEC).  The enforcement division of the SEC stated; “The Commission temporarily suspended trading in the securities of CIAU because of questions regarding the accuracy… Read More

SEC Publishes Report on Access to Capital & Market Liquidity

The Securities and Exchange Commission (SEC), Division of Economic Risk Analysis (DERA), has just published a report addressing the issue of access to capital as well as market liquidity. DERA, the research arm of the SEC, was enlisted by Congress to report on the impact… Read More

What’s Next For Token Sales & ICOs After the SEC’s Recent Warnings

  Disclaimer: Although I am a securities attorney, I am not your securities attorney, so the following is in no way legal advice. If you are thinking about doing an ICO or token sale, I highly recommend talking to and hiring your own attorney. If you’ve been… Read More

Data Proves Regulation Crowdfunding is a Revenue, Income Generator AND a Jobs Engine: What is our Government & Media Waiting For?

Regulation Crowdfunding is a little over a year old and the data indicates that it is a revenue and income generator for companies and a jobs engine for the economy. The law requires companies that complete successful campaigns to file an Annual Report with the… Read More

When is an ICO a Security? Law Firm Morrison Foerster Responds

In the aftermath of the SEC statement on Initial Coin Offerings and their intent to crack down on issuers in breach of securities law we reached out to Morrison Foerster for commentary on the question as to when an ICO is in fact a security…. Read More

Here is Tim Draper’s Open Letter to the SEC Regarding ICO Regulation

Tim Draper, a well known Venture Capitalist who is very active in Fintech, posted an open letter last week addressed the Securities and Exchange Commission regarding the recent comments on regulating Initial Coin Offerings. The letter was published in conjunction of the launch of the… Read More

Credo ICO Pushes Forward as SEC Warns Sector of Possible Enforcement Actions: Stewart Dennis Responds to SEC Announcement

The Securities and Exchange Commission published a report this week that rattled the hot Initial Coin Offering (ICO) sector is still being ingested by both platforms and companies looking to offer bespoke tokens. But as the SEC fired shots across the bow of the ICO… Read More