Tagged: sec

SEC Creates Capital Raising Navigator Tool

The Securities and Exchange Commission (SEC), Office of the Advocate for Small Business Capital Formation, has announced the creation of a capital raising navigator tool for firms seeking growth capital. A part of the SEC’s website, the tool covers the spectrum of options for entrepreneurs… Read More

SEC Chairman Gary Gensler Looks to Rein in Crypto Exchanges, Digital Assets and Stablecoins

Yesterday, SEC Chairman Gary Gensler testified in front of the House Committee on Financial Services sharing his perspective on the goals of the SEC and why it needs more money to fulfill its mission. As anticipated, much of the testimony swirled around digital assets and… Read More

Ethereum Experiences Burst of New User Adoption in Q3 due to NFTs, Bitcoin Records Steady Gains: Report

The team at Coin Metrics, including researchers Nate Maddrey and Kyle Waters have released their State of the Network Q3 2021 wrap-up report. In the latest edition of the State of the Network report, the Coin Metrics team has taken a data-driven look at what… Read More

Hemp Firm CanaFarma Hit with Fraud Charges from SEC

The Securities and Exchange Commission (SEC) has leveled fraud charges against erstwhile hemp firm CannaFarma Hemp Products Corp, (CSE:CNFA) and its founders. According to the SEC, the company allegedly committed fraud in a securities offering that raised $15 million from investors. The SEC claims that… Read More

SEC Chairman Gary Gensler Talking Points: “Rules mostly adopted 16 years ago do not fully reflect today’s technology”

In prepared remarks distributed prior to the House Committee on Financial Services hearing later today, SEC Chairman Gary Gensler outlined his talking points as he asks the Committee for a significant budget increase while outlining his agenda for his term at the SEC. As should… Read More

SEC Chairman Gary Gensler to Testify in Front of House Committee on Financial Services, Will Request More Funding

The House Committee on Financial Services will be holding a virtual hearing tomorrow entitled “Oversight of the U.S. Securities and Exchange Commission: Wall Street’s Cop Is Finally Back on the Beat.” SEC Chairman Gary Gensler will traipse back to the Capitol to update the Committee on… Read More

SEC Commissioner Peirce Says Commission Should Consider Expanding Definition of Accredited Investor, Improve Crowdfunding Exemptions

Speaking at the opening of the SEC’s Small Business Capital Formation Committee meeting held earlier this week, Commissioner Hester Peirce shared her opinion on several key topics regarding access to investment opportunities and improvements for crowdfunding exemptions. The subject of the definition of an accredited… Read More

Pitchbook Shows How Big Investors are Jumping Ahead of the Queue to Benefit from Pre-IPO Firms

The decline in publicly traded firms has been well-documented. A result of the excessive cost and reporting requirements combined with an ocean of private capital has compelled many successful firms to stay private as long as possible. Back in the day, an initial public offering… Read More

SEC Small Business Capital Formation Office Sends Report to Congress, Provides Policy Recommendations: Will the SEC Pursue the Advice?

Today, the Securities and Exchange (SEC) Office of the Advocate for Small Business Capital Formation delivered a report to Congress on the SEC’s 40th Annual Small Business Forum. The report, embedded below, recaps several meetings held in the past year (May) that shared front-line experience… Read More

SEC Charges Two Individuals for Meme Stock Wash Trading

The Securities and Exchange Commission has charged two individuals for engaging in a fraudulent scheme designed to collect liquidity rebates from exchanges by wash trading put options of certain “meme stocks” in early 2021. The SEC’s complaint mentions stocks like GameStop, AMC Entertainment, Blackberry, and… Read More

SEC Files Charges Against Analyst that Allegedly was Front Running Big Trades

The Securities and Exchange Commission has filed charges against a quant analyst for “perpetrating a years-long front-running scheme that generated illicit profits of at least $8.5 million.” Sergei Polevikov, who worked at two asset management firms, allegedly abused his position to benefit from information he… Read More

SEC Small Business Committee Schedules Meeting, Will Tackle Private Company Investing as Well as IPOs

The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee will meet on Monday, September 27. The Committee was created by Congress to support the Commission with advice and recommendations on rules, regulations, and policy matters relating to small businesses, which have been ignored… Read More

Funding Portal Trucrowd, Crowdfunding Issuers Hit With SEC Fraud Charges

The Securities and Exchange Commission has leveled fraud charges against TruCrowd and three issuers in allegations of fraud regarding $2 million of unregistered securities apparently offered via two investment crowdfunding offerings. As far as we are aware, this is the first significant enforcement action pertaining… Read More

Regulation by Intimidation? Coinbase Decides to Axe its Lending Feature Following SEC Threat to Sue

On September 7, 2021, Coinbase (NASDAQ:COIN) published a blog post stating the Securities and Exchange Commission (SEC) had informed the company it would sue over its forthcoming Coinbase Lend service. Now, Coinbase has submitted to the significant threat of a lawsuit and abandoned its Lend… Read More

App Annie Hit with Fraud Allegations from SEC, Settles Charges

The Securities and Exchange Commission (SEC) has leveled fraud charges against App Annie and its co-founder and former CEO Bertrand Schmitt. The SEC says App Annie and Schmitt have agreed to settle the fraud charges and will pay a penalty of over $10 million to… Read More

SEC Chairman Gensler on Crypto Asset Markets: It’s More Like the Wild West, “Rife with Fraud”

Tomorrow (September 14, 2021), SEC Chairman Gary Gensler will testify in front of the Senate Banking Committee. The hearing is a periodic meeting for the Committee and is entitled “Oversight of the U.S. Securities and Exchange Commission”. In prepared testimony, Gensler focuses much attention on investor… Read More

Digital Asset Enforcement Action: SEC Charges Media Companies with Illegal Unregistered Offering of a Digital Asset Security

The Securities and Exchange Commission continues to file charges against firms that have issued digital assets that may be securities. Today, the SEC has charged New York City-based GTV Media Group Inc. and Saraca Media Group Inc., and Phoenix, Arizona-based Voice of Guo Media Inc,… Read More

SEC Chairman Gary Gensler to Testify Before Senate Banking Committee, Expect a Lot of Discussion on Fintech, Digital Assets

Next week, Securities and Exchange Commission (SEC) Chairman Gary Gensler will testify before the US Senate Banking Committee. The routine hearing is about the “Oversight of the U.S. Securities Exchange Commission,” but you may anticipate a good amount of testimony on issues surround Fintech and,… Read More

ICYMI: Direct Lending Investments Settles with the SEC

Last week in the blitz towards the Labor Day holiday weekend, the Securities and Exchange Commission (SEC) filed an administrative proceeding pertaining to Direct Lending Investments (DLI) and an enforcement action that alleged securities fraud. In mid-2019, the SEC filed charges against DLI and its… Read More

SEC Investor Advisory Committee Agenda Includes Behavioral Design of Online Trading Platforms, Robinhood is Not Invited

The Securities and Exchange Commission (SEC) Investor Advisory Committee is scheduled to hold a meeting tomorrow (September 9th). The topics of discussion include two panels: “Reimagining Investor Protection in a Digital World: the Behavioral Design of Online Trading Platforms;” A discussion regarding competition and regulatory… Read More

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