Tagged: sec

Bitcoin ETF Denied: Grayscale’s Attempt to Offer BTC ETF Blocked by SEC

Grayscale’s most recent attempt of migrating Bitcoin-based GBTC, traded on OTC Markets, to an exchange-traded fund (ETF), has been denied. In an Order posted by the SEC yesterday, the Commission disapproved a proposed rule change that would have allows the spot Bitcoin ETF to trade… Read More

Grayscale Posts Letter in Advance of SEC Decision on Bitcoin ETF

Grayscale, a digital asset platform that provides access to retail investors, has posted a letter in advance of the SEC’s 240 day deadline to respond to its request to migrate Grayscale Bitcoin Trust (GBTC) to an exchange-traded fund (ETF). The letter is signed by Michael… Read More

What Are Opponents Saying About the SECs Push to Demand Climate Risk Disclosures?

The Securities and Exchange Commission (SEC) has proposed ESG rules that may compel public firms to disclose climate risks that may impact the environment. The rule proposal was accepting comments from interested parties up until this past week with a deadline of June 17th. While everyone… Read More

Senate Banking Committee Republicans Ask SEC for More Information on Proposed Climate Disclosure Rules

Republican members on the US Senate Banking Committee have requested more information from the Securities and Exchange Commission (SEC) regarding the Commission’s proposal to require reporting companies to disclose their climate impact. In a letter addressed to SEC Chairman Gary Gensler, signed by the 12… Read More

Former SEC Attorney Active in Crypto Markets Neel Maitra Joins Law Firm

Securities and Exchange Commission (SEC) “Fintech specialist” Neel Maitra has joined the law firm of Wilson Sonsini Goodrich & Rosati in Washington, DC. According to the law firm, Maitra will be a member of Wilson Sonsini’s securities regulatory and complex transactions group. While at the SEC’s… Read More

House Republicans Tell SEC to Rescind Proposed Climate Reporting Requirements as it Exceeds the Commission’s Authority

House Republicans have sent a letter to the Chairman of the SEC Gary Gensler telling him to halt his pursuit of proposed climate disclosure rules as over-stepping the statutory responsibilities of the Commission. In the letter, signed by 129 Republicans led by the top Republican… 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

SEC Commissioner Hester Peirce Comments on Crypto Legislation, Chastises Commission for Doing Little to Adopt Regulation

SEC Commissioner Hester Peirce posted a speech this week that addresses crypto markets and regulation. Commissioner Peirce has long taken a thoughtful approach in regards to digital asset innovation while generally being supportive Fintech. Peirce mentioned the bipartisan legislation published this month that aims to… Read More

Schwab Comments on SEC Settlement Regarding Robo-Advisor Offerings

The Charles Schwab Corporation (NYSE: SCHW) has commented on the settlement with the Securities and Exchange Commission (SEC) pertaining to Robo-advisor offerings and allegations of undisclosed fees and poor performance. Schwab stated via a release: “Schwab has resolved a matter with the SEC regarding certain… Read More

Schwab Penalized by SEC for Robo-Advisor Hidden Fees, Disclosure on Performance

The Securities and Exchange Commission (SEC) charged three Charles Schwab investment adviser subsidiaries for allocating client funds in a manner that their own internal analyses showed would be less profitable for their clients under most market conditions. Schwab has agreed to pay $187 million to… Read More

Terraform Labs, Creator of Failed Algorithmic Stablecoin TerraUSD, Investigated by SEC

The Securities and Exchange Commission (SEC) has posted a notice that the United States Court of Appeals for the Second Circuit has affirmed a district court order requiring compliance with investigative subpoenas served by the Commission on Terraform Labs Pte Ltd and Do Kwon – based… Read More

SEC Penalizes Audit Firm Related to Longfin Reg A+ Offering

Longfin, a Reg A+ issuer that saw its shares trade on the Nasdaq only to later implode, has generated some more collateral damage as an audit firm providing services to the firm has been penalized by the Securities and Exchange Commission (SEC). Back in 2020,… Read More

SEC Investigating Binance’s BNB Token: Report

The Securities and Exchange Commission (SEC) is investigating the BNB token, issued by the world’s largest crypto exchange Binance. This is according to a report by Bloomberg and should come as no surprise to anyone as the SEC has long messaged their view that just… Read More

Competitive Enterprise Institute Securities Expert on Crypto Legislation: “It will have many positive effects”

John Berlau, a securities and regulatory expert at the Competitive Enterprise Institute (CEI) has shared his initial thoughts on the bi-partisan legislation posted today by Senators Kirsten Gillibrand and Cynthia Lummis. Berlau, long a supporter of beneficial Fintech innovation believes the legislation is a solid… Read More

SEC Receives Final Judgement Against Crowdfunding Issuer 420 Real Estate

The Securities and Exchange Commission (SEC) has received final judgments against crowdfunding issuer, 420 Real Estate, LLC, and its CEO, Willard Jackson. The court case, SEC v. Shumake, has previously obtained judgments against Defendants TruCrowd, Vicent Petrescu, and Nicole Birch. According to FINRA, TruCrowd is… Read More

DTCC Approved by SEC to Provide Central Clearing for Equity Securities Loans

The Depository Trust & Clearing Corporation (DTCC) is reporting that the Securities and Exchange Commission (SEC) has approved the Securities Financing Transaction (SFT) Clearing Service proposal of the National Securities Clearing Corporation (NSCC), the equity clearing subsidiary of DTCC, to operate a central clearing and… Read More

SEC Commissioner Peirce and CFTC Commissioner Pham Join in Calling for Progress on Decentralized Regulation

SEC Commissioner Hester Peirce and CFTC Commissioner Caroline Pham have partnered on an Op-Ed published this week in the Hill calling for progress on the regulation of decentralization. Alluding to possible friction between the two agencies as regulators jostle as to which sector of crypto… Read More

SEC Receives Final Judgement Against Centra Tech ICO and Founders

The Securities and Exchange Commission has obtained final judgments on consent against Sohrab “Sam” Sharma, Robert Farkas, and Raymond Trapani in regards to Centra Tech and an initial coin offering (ICO) deemed to be an unregistered security by the SEC. The SEC states that Centra… Read More

Chairman Gary Gensler Tells Congressional Committee Crypto Exchanges Need to Register as Exchanges with SEC

SEC Chairman Gary Gensler testified in front of the Subcommittee on Financial Services and General Government, part of the House Appropriations Committee, to justify the agency’s budget request. As part of the questioning from various members, Gensler answered several questions which were crypto-related. Chairman Gensler… Read More

SEC Chairman Gary Gensler to Visit Appropriations Subcommittee to Discuss Budget: “The gold standard for capital markets”

Tomorrow (May 18, 2022), SEC Chairman Gary Gensler will hike up to Capitol Hill to extoll the need for a slight budget increase for the SEC and its ~ 4800 employees. Chair Gensler, along with the Chair of the FTC, will address the Subcommittee on… Read More

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