Tagged: sec

May 18, 2023 @ 10:23 am By JD Alois  |  

Earlier this week, CI reported that ten companies that raised money under the Regulation A (Reg A+) securities exemption were the targets of enforcement actions by the Securities and Exchange Commission (SEC). All of these issuers settled with the Commission by paying a penalty ranging… Read More

May 17, 2023 @ 9:22 am By JD Alois  |  

On Monday, Coinbase (NASDAQ:COIN) revealed that the Securities and Exchange Commission (SEC) has finally responded to its request for rulemaking on digital assets. That answer was as anticipated as the Commission declined to pursue new rules. Last month, Paul Grewal, the Chief Legal Officer of… Read More

May 16, 2023 @ 9:28 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against ten firms that raised money using the Reg A+ (Regulation A) securities exemptions. Each firm has agreed to pay a civil penalty ranging from $5000 to $90,000. Under the JOBS Act of 2012, Regulation A… Read More

May 12, 2023 @ 8:55 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against GA Investors as well as anonymous operators or “John Does 1-4” alleging fraudulent offerings of securities that includes crypto. The SEC said the bogus offerings were made available through “dozens of websites.” The SEC is… Read More

May 5, 2023 @ 7:44 pm By JD Alois  |  

Republic has submitted a comment letter to the Securities and Exchange Commission (SEC) regarding the proposed rulemaking on Safeguarding Advisory Client Assets. Republic is one of the largest securities crowdfunding platforms in the US, providing access to capital via the full stack of private exemptions…. Read More

May 5, 2023 @ 10:51 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced the largest-ever whistleblower award to the tune of $279 million. This is more than double the prior top amount of $114 million. Whistleblower awards are given to individuals who tip off the SEC in regard to infractions… Read More

May 4, 2023 @ 12:15 pm By JD Alois  |  

The SEC Small Business Capital Formation Advisory Committee (SBCFAC) has announced new members following the completion of the majority of members four-year terms. The SBCFAC was created to provide the Commission with recommendations that support smaller firms, improve access to capital and mitigate onerous regulations… Read More

April 27, 2023 @ 4:11 pm By JD Alois  |  

Coinbase (NASDAQ:COIN)  has posted a 73-page response to the Securities and Exchange Commission’s (SEC) Wells Notice which indicates a high likelihood of an enforcement action by the commission. Last month, Coinbase revealed it was in receipt of the Wells Notice while taking a defiant stance against… Read More

April 25, 2023 @ 12:56 pm By Omar Faridi  |  

Streetbeat is an investment platform designed “to make the stock and ETF trading process accessible for retail investors.” As a registered investment advisor registered with SEC, it reportedly “leverages algorithmic data-driven strategies to help users mitigate investing challenges and unlock new opportunities.” Their vision is… Read More

April 24, 2023 @ 10:45 pm By JD Alois  |  

Coinbase (NASDAQ:COIN) is going on the offensive with the Securities and Exchange Commission (SEC) and its insistence that all digital assets are securities and thus regulated the same. In a blog post, Paul Grewal, the Chief Legal Officer of Coinbase, explained the company had filed… Read More

April 24, 2023 @ 4:33 pm By JD Alois  |  

SEC Commissioner Hester Peirce has posted here comments delivered at the beginning of the SEC’s 42nd Annual Small Business Forum taking place this week. A few years back, the Forum was an in-person event, but COVID and convenience have shifted the event to a virtual… Read More

April 19, 2023 @ 9:55 am By JD Alois  |  

While the Securities and Exchange Commission (SEC) has aggressively pursued enforcement actions against digital asset platforms and issuers, the industry has complained the rules are unclear, making compliance a challenge. At the same time, the SEC has asked crypto trading platforms to come in and… Read More

April 19, 2023 @ 8:46 am By Omar Faridi  |  

Coinbase (NASDAQ:COIN) is reportedly getting ready for an anticipated “years-long” court case with the US Securities and Exchange Commission (SEC). This, according to a report from CNBC, which is citing comments from Coinbase CEO Brian Armstrong. It appears that this update has come after the… Read More

April 18, 2023 @ 4:37 pm By JD Alois  |  

Robo-advisor Betterment has been hit by charges from the Securities and Exchange Commission regarding material misstatements and omissions pertaining to a tax loss harvesting service (TLH). Betterment has settled the charges with the SEC without admitting or denying the claims, paying a $9 million penalty…. Read More

April 18, 2023 @ 4:29 pm By JD Alois  |  

SEC Chair Gary Gensler spent most of the day on Capitol Hill testifying in front of the House Financial Services Committee. As the Committee is currently controlled by the Republicans – which tend to be more innovation-friendly and more supportive of small businesses, some of… Read More

April 18, 2023 @ 9:32 am By JD Alois  |  

Later today, the House Financial Services Committee will hold an oversight hearing regarding the Securities and Exchange Commission with Chair Gary Gensler testifying on his leadership of the Commission. In the hours before the scheduled start of the hearing, Committee Republicans have posted a letter… Read More

April 17, 2023 @ 10:00 pm By JD Alois  |  

Tomorrow (April 18, 20223), SEC Chairman Gary Gensler will testify in front of the House Financial Services Committee. The oversight hearing will “examine the regulatory developments, rulemakings, and activities that the SEC has undertaken in the period since the last hearing on October 5, 2021.”… Read More

April 17, 2023 @ 12:42 pm By JD Alois  |  

Bittrex, a crypto exchange that announced it was ceasing operations at the end of last month, has been hit with an enforcement action by the Securities and Exchange Commission (SEC). The SEC has charged Bittrex and its former CEO William Shihara for operating an unregistered… Read More

April 17, 2023 @ 10:25 am By JD Alois  |  

At the end of March, US-based crypto exchange Bittrex announced that it was shuttering its operations. Bittrex stated that it would cease operations on April 30, 2023, while providing a series of timelines for its users, recommending that accounts are closed as soon as possible…. Read More

April 14, 2023 @ 4:50 pm By JD Alois  |  

Representative Patrick McHenry and Representative Ann Wagner have sent a letter to Securities and Exchange Commission Chair Gary Gensler criticizing him for neglecting the Commission’s mission to enable access to capital for businesses. McHenry is Chairman of the House Financial Services Committee, and Wagner is… Read More