Tagged: sec

October 7, 2024 @ 10:21 am By JD Alois  |  

During World Investor Week (WIW) 2024, which starts today, the Securities and Exchange Commission issued a statement advising investors to be careful in seeking investing information. The SEC is the national coordinator in the US, partnering with the Commodity Futures Trading Commission (CFTC), Financial Industry… Read More

October 5, 2024 @ 10:24 am By JD Alois  |  

Recently, the annual report distilled from the SEC’s Small Business Forum was published. Once again, it outlined a series of requests for policymakers to enact to support smaller firms. The SEC’s Office of the Advocate for Small Business Capital Formation led the forum. It is… Read More

October 2, 2024 @ 3:22 pm By JD Alois  |  

Gurbir S. Grewal, the SEC Director of Enforcement, is exiting the agency, according to the SEC. Sanjay Wadhwa, currently the Deputy Director of Enforcement, will step in as acting Director in the interim. Wadhwa joined the SEC as a staff attorney in Enforcement in 2003…. Read More

October 1, 2024 @ 10:27 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged three individuals who allegedly concocted a “Pre-IPO Scheme” that raised approximately $120 million. The individuals targeted were Accredited Investors and securities were issued under Reg D. The SEC has charged John LoPinto, Robert Wilkos, and Laren Pisciotti … Read More

September 27, 2024 @ 4:36 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against Mango DAO and Blockworks Foundation for the sale of MNGO tokens which the Commission alleges were actually unregistered securities. Without admitting or denying the allegations, Mango DAO, Blockworks Foundation, and Mango Labs have all agreed… Read More

September 25, 2024 @ 7:15 pm By JD Alois  |  

Securities and Exchange Commission (SEC) Chairman Gary Gensler took a bit of a beating yesterday during a House Financial Services Committee hearing. The gathering also included all other commissioners which provided an opportunity to hear opposing perspectives held by the Republican minority. The hearing memo… Read More

September 24, 2024 @ 2:34 pm By JD Alois  |  

TrustToken and TrueCoin have been charged with fraud by the Securities and Exchange Commission (SEC). The news comes on the same day that SEC Chairman Gary Gensler is being grilled on Capitol Hill at a hearing of the House Financial Services Committee. Without admitting or… Read More

September 20, 2024 @ 9:38 am By JD Alois  |  

ICAN, or the Investors Choice Advocacy Network, is reporting its first legal victory over the Securities and Exchange Commission (SEC). Founded by attorney Nick Morgan, ICAN is “dedicated to serving as a legal advocate and voice for small investors and entrepreneurs whose efforts are too often… Read More

September 19, 2024 @ 10:59 am By JD Alois  |  

Rari Capital has settled charges by the Securities and Exchange Commission (SEC), which claims the firm engaged in unregistered crypto offerings, misleading investors and acting as an unregistered broker. This is another victory in the SEC’s ongoing battle with digital asset firms and offerings that… Read More

September 18, 2024 @ 12:30 pm By JD Alois  |  

In what may be a heated meeting of the House Financial Services Committee, SEC Chairman Gary Gensler is scheduled to testify next week in a hearing on the Oversight of the Securities and Exchange Commission. While the hearing memo nor prepared testimony is yet available,… Read More

September 18, 2024 @ 10:49 am By JD Alois  |  

Fintech supporter Congressman Tom Emmer has sent a letter to the Chair of the SEC, Gary Gensler, asking the Commission to clarify the “regulatory classification of digital asset airdrops.” The Chairman of the House Financial Services Committee, Patrick McHenry, has also added his support to the… Read More

September 17, 2024 @ 2:15 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) says it has settled charges with Prager Metis CPAs, LLC (Prager) in regard to its relationship with the failed crypto operation FTC. The SEC states that Prager has agreed to pay $1.95 million to resolve two actions alleging misconduct… Read More

September 16, 2024 @ 6:10 pm By JD Alois  |  

Earlier today, the Securities and Exchange Commission (SEC) issued an Administrative Order punishing the FlyFish Club (FFC) for allegedly issuing “crypto asset securities.” The FlyFish Club is a private dining venue that offers memberships similar to country clubs. Unfortunately, FFC upset the Commission by issuing… Read More

September 12, 2024 @ 12:24 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Investor Advisory Committee (IAC), has published its agenda for its meeting next week. The IAC will focus on two panels: Investment Advice: A History and Update on Who is Required to Serve in Your Best Interest; and Key Topics… Read More

September 12, 2024 @ 11:02 am By JD Alois  |  

eToro USA will halt nearly all crypto trading activity following an agreement with the Securities and Exchange Commission (SEC). The settlement also requires eToro to pay a $1.5 million fine. eToro has agreed to the settlement without admitting or denying the allegations. Going forward, eToro… Read More

September 11, 2024 @ 11:04 am By Omar Faridi  |  

tZERO Group Inc., says it has received approval for its tZERO Digital Asset Securities as “a new Special Purpose Broker-Dealer for digital asset securities custody.” The company states that this is only one of two licenses for “a regulated broker-dealer digital asset security custodian that… Read More

September 10, 2024 @ 11:22 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced new members on the Investor Advisory Committee (IAC). While having no regulatory authority, the IAC advises the Commission on issues impacting investors. Each member serves a term of 5 years. More members are expected to be announced… Read More

September 10, 2024 @ 10:51 am By JD Alois  |  

Popular coffee capsule company Keurig will have to pay a $1.5 million penalty as the Securities and Exchange Commission (SEC) claims it made “inaccurate statements regarding recyclability of K-Cup beverage pods.” The SEC claims that Kuerig stated in annual reports that their pods could be… Read More

September 5, 2024 @ 8:00 pm By JD Alois  |  

Last week, OpenSea, a popular NFT [non-fungible token] marketplace, revealed that it had received a Wells Notice from the Securities and Exchange Commission (SEC). The missive indicates a good probability of a forthcoming enforcement action against the firm. While NFTs are largely aligned with digital… Read More

September 3, 2024 @ 1:49 pm By JD Alois  |  

The Securities and Exchange Commission has settled charges with Galois Capital Management LLC pertiainging to allegations for shortcomings in crypto custody. Without admitting or denying the SEC’s findings, Galois Capital consented to the entry of an order requiring it to cease and desist from further violations… Read More