Tagged: sec

July 14, 2021 @ 3:04 pm By JD Alois  |  

SEC Commissioners Elad Roisman and Hester Peirce have joined together in issuing a public statement on Blotics, a firm formerly operating as Coinschedule, and the enforcement action by the SEC that was revealed today. As was previously reported, the SEC has settled charges against the… Read More

July 14, 2021 @ 1:54 pm By Tony Zerucha  |  

The Securities and Exchange Commission (SEC) has settled charges against UK company Blotics, the operator of Coinschedule.com, a site that promoted digital securities offerings. Blotics was determined to have violated the anti-touting provisions of the federal securities laws by failing to disclose the compensation it… Read More

July 13, 2021 @ 10:45 pm By Tony Zerucha  |  

The Securities and Exchange Commission (SEC) has fined a subsidiary of Teachers Insurance and Annuity Association of America (TIAA) $97 million for producing inaccurate and misleading statements and a failure to adequately disclose conflicts of interest to thousands of participants in TIAA record-kept employer-sponsored retirement… Read More

July 13, 2021 @ 6:53 pm By Tony Zerucha  |  

The Securities and Exchange Commission (SEC) has charged a group of people and companies for misleading claims about a recent special purpose acquisition corporation (SPAC), assertions which stood to gain one CEO $200 million in shares. Facing charges are SPAC Stable Road Acquisition Company, its… Read More

July 9, 2021 @ 2:07 pm By JD Alois  |  

Individuals affiliated with Long Blockchain, previously operating as Long Island Iced Tea Company, have been hit with allegations of insider trading by the Securities and Exchange Commission (SEC). Once a beverage firm, during the early days of the blockchain boom the company decided to pivot… Read More

July 9, 2021 @ 9:36 am By Omar Faridi  |  

Square Inc (NYSE: SQ) will reportedly be developing a hardware wallet for Bitcoin (BTC), the payments giant revealed on Thursday (July 8, 2021). We’re doing it #Bitcoin https://t.co/IwbKuBoXGv — jack (@jack) July 8, 2021 Square’s announcement came after US Senator Elizabeth Warren cautioned about the… Read More

July 8, 2021 @ 9:28 am By JD Alois  |  

Senator Elizabeth Warren, a member of the Senate Banking Committee, has sent a letter to SEC Chairman Gary Gensler telling the securities regulator that crypto exchanges may be undermining the SEC’s mission of basic investor protections. Gensler, for his part, has publicly worried that crypto… Read More

July 7, 2021 @ 5:16 pm By Tony Zerucha  |  

The Securities and Exchange Commission has charged a trader at a Canadian-based asset management firm in an extensive front-running scheme that netted family members close to $4 million. For more than six years Sean Wygovsky allegedly traded in his family members’ accounts at brokerage firms… Read More

July 7, 2021 @ 2:16 pm By Tony Zerucha  |  

The Securities and Exchange Commission has charged Parallax Health Sciences and two of its executives for misleading statements about its readiness to battle COVID-19. CEO Paul Arena and CTO Nathaniel Bradley were also charged. Trading in Parallax common stock was temporarily halted on April 10,… Read More

June 30, 2021 @ 6:53 pm By Tony Zerucha  |  

The Securities and Exchange Commission today charged Californian Matthew J. Skinner and five of his companies for conducting four unregistered and fraudulent real estate offerings between 2015 and 2020. The companies involved are Empire West Equity Inc., Bayside Equity LP, Longacre Estates LP, Freedom Equity… Read More

June 30, 2021 @ 11:40 am By JD Alois  |  

FINRA has ordered Robinhood to pay a record-breaking $70 million penalty for “systemic supervisory failures and significant harm suffered by millions of customers.” In settling with FINRA, Robinhood neither admitted nor denied the charges, but consented to the entry of FINRA’s findings. FINRA said in… Read More

June 29, 2021 @ 2:41 pm By Tony Zerucha  |  

The Securities and Exchange Commission (SEC) today announced JPMorgan Chase & Co. (NYSE:JPM) subsidiary Neovest, Inc. has agreed to pay a $2.75 million fine for failing to register as a broker-dealer in violation of federal securities laws. This is the first time the agency has… Read More

June 25, 2021 @ 12:16 pm By JD Alois  |  

Earlier this month, the Securities and Exchange Commission (SEC) shared its regulatory agenda for the next couple of years. The list is quite long and includes many areas of the securities industry. At the top of the list, was the exempt offering ecosystem with the… Read More

June 22, 2021 @ 4:48 pm By Tony Zerucha  |  

The Securities and Exchange Commission has settled charges against a software provider and its CEO for misleading investors about an unregistered offer and sale of digital asset securities. Loci, Inc. and its CEO John Wise allegedly violated the antifraud provisions of Section 10(b) of the… Read More

June 17, 2021 @ 6:07 pm By Tony Zerucha  |  

The Securities and Exchange Commission (SEC) has obtained an asset freeze and other emergency relief, and filed fraud charges, against Ramiro Jose Sugranes, UCB Financial Advisers Inc., and UCB Financial Services Limited for their involvement in an alleged “cherry-picking” scheme. According to the SEC, Sugranes,… Read More

June 17, 2021 @ 12:11 pm By Chris Sloan  |  

In December 2020, the Securities and Exchange Commission (SEC) filed a complaint in a New York federal court against Ripple Labs, Inc. and two of its executives alleging that Ripple had sold $1.3 billion in XRP cryptocurrency tokens in a series of unregistered securities offerings…. Read More

June 16, 2021 @ 9:19 pm By Tony Zerucha  |  

A real estate settlement services company has run afoul of the Securities and Exchange Commission (SEC) for not properly acting on security vulnerabilities when first aware of them. On June 15 the SEC said they have settled charges against First American Corporation for disclosure controls… Read More

June 15, 2021 @ 10:00 am By JD Alois  |  

The US investment crowdfunding industry received a boost this year as the Securities and Exchange Commission (SEC) adjusted the securities exemptions that platforms and issuers utilize to raise growth capital online. Along with other improvements, key changes include the adjustment of Reg CF (Regulation Crowdfunding)… Read More

June 14, 2021 @ 3:37 pm By JD Alois  |  

SEC Chairman Gary Gensler has selected Renee Jones as the Director of Corporate Finance and John Coates as General Counsel. Jones is a Professor of Law and Associate Dean for Academic Affairs at Boston College Law School. Previously, she represented private and public companies on… Read More

June 14, 2021 @ 12:31 pm By JD Alois  |  

Following the revelation of the regulatory agenda for the Securities and Exchange Commission (SEC) under the leadership of Chair Gary Gensler, two Commissioners have issued a statement criticizing the list of rules and regulations the Commission is expected to tackle in the coming months. Additionally,… Read More