Tagged: sec

April 20, 2021 @ 11:25 am By JD Alois  |  

The Securities and Exchange Commission (SEC) Small Business Capital Formation Advisory Committee, has scheduled a meeting for Friday, April 30, 2021, from 10:00 a.m. to 2:30 p.m. (ET). This will be a virtual meeting and the event will be open to the public via a… Read More

April 14, 2021 @ 3:21 pm By JD Alois  |  

In a floor vote yesterday, the US Senate approved the selection of Gary Gensler as the next Chairman of the Securities and Exchange Commission. The current SEC Commissioners joined in welcoming the new Chair stating: “A warm congratulations to Gary Gensler on his Senate confirmation… Read More

April 14, 2021 @ 7:36 am By JD Alois  |  

SEC Commissioner Hester Peirce has posted an update to her Token Safe Habor proposal. Back in February 2020, Commissioner Peirce revealed her proposal in an effort to create a regulatory environment that supported Fintech innovation while acknowledging the unique characteristics of digital assets. Since the… Read More

April 7, 2021 @ 5:04 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has obtained final judgment concluding the fraud case against real estate crowdfunding platform iFunding and defendant William C. Skelley. iFunding was an early entrant in the real estate crowdfunding market that issued securities under Reg D 506c, a new… Read More

April 7, 2021 @ 4:17 pm By JD Alois  |  

Back in December of 2020, the Securities and Exchange Commission (SEC) posted a complaint alleging that Ripple engaged in the sale of an unregistered security. The enforcement action included Christian Larsen, the company’s co-founder, executive chairman of its board, and former CEO, and Bradley Garlinghouse,… Read More

April 3, 2021 @ 7:41 pm By Omar Faridi  |  

Cass Sanford, an Associate General Counsel who supports regulatory and policy-making initiatives at OTC Markets Group, notes that the US Securities and Exchange Commission’s (SEC) amendments to Rule 15c2-11 may eliminate public quoting in securities of issuers that don’t make current information “publicly available.” Sanford,… Read More

March 31, 2021 @ 5:34 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has issued a statement addressing the hot SPAC market. Special purpose acquisitions companies or blank check firms have boomed in recent months. SPACs are viewed as an easier path for issuers to become a publicly-traded firm yet the rapid… Read More

March 30, 2021 @ 11:00 am By Ariel Glasner and Amit Roitman  |  

President Joe Biden’s young administration is poised to deliver heightened – and perhaps unprecedented – regulatory scrutiny of the exploding Fintech industry.  The groundwork for a more active regulatory regime has been set over the course of the past decade.  Prior administrations harnessed existing enforcement… Read More

March 29, 2021 @ 9:43 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged LBRY with conducting an offering of digital assets deemed to be unregistered securities. LBRY is a blockchain-based company that is working on a digital marketplace, using its native currency LBC, for content such as images, video, audio,… Read More

March 22, 2021 @ 10:55 pm By Omar Faridi  |  

The researchers at Bloqport have confirmed that only a month after launch, the first-ever Bitcoin ETF has reached $1 billion CAD in assets under management or AUM (as of March 20, 2021). Just one month after launch, the first ever #Bitcoin ETF has hit $1… Read More

March 19, 2021 @ 3:34 pm By JD Alois  |  

uBiome was once a promising biotech startup that generated over $350,000 from over 2,500 individuals in a rewards offering in 2013, The company went on to raise capital on AngelList. Soon, uBiome was accepted into Y Combinator. Almost immediately uBiome raised a Series A funding… Read More

March 15, 2021 @ 3:00 pm By Lee Schneider  |  

Once the Coinbase registration statement becomes effective and Coinbase shares trade publicly, a sea change will have occurred in the US without most people recognizing it.  Part of that unacknowledged difference will be the broader awareness of blockchain and cryptoasset trading it brings. It is… Read More

March 14, 2021 @ 7:30 pm By JD Alois  |  

Last week, the Senate Banking Committee voted to 14-10 to move forward with Gary Gensler’s nomination as the Chairman of the Securities and Exchange Commission. On the same day, the vote was taken on Rohit Chopra and his nomination as Director of the Consumer Financial… Read More

March 12, 2021 @ 5:54 pm By Omar Faridi  |  

Despite a few weeks’ break from their regulatory assessments, the BitOoda team says it has been regularly monitoring the crypto industry and engaging in the ongoing advancement of the US regulatory landscape. BitOoda notes that the recent developments they’ve followed are: New York Attorney General… Read More

March 12, 2021 @ 3:25 pm By JD Alois  |  

Congressman Patrick McHenry, the ranking member of the House Committee on Financial Services, has sent a letter to the Securities and Exchange Commission (SEC) urging them to move forward on improvements to Regulation Crowdfunding (Reg CF). The letter is addressed to SEC Acting Chair Allison… Read More

March 11, 2021 @ 1:40 pm By JD Alois  |  

The Securities and Exchange Commission has issued a warning on SPACs and “celebrity involvement.” Emanating from the SEC’s Office of Investor Education and Advocacy (OIEA)  the agency cautions investors not to invest in SPACs based solely on celebrity involvement. To quote the SEC: “Celebrities, from… Read More

March 11, 2021 @ 11:08 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed an emergency action and obtained a temporary restraining order and asset freeze against Shawn C. Cutting. The SEC alleges that Cutting raised millions of dollars by falsely claiming to be a financial adviser with securities licenses, overstating… Read More

March 8, 2021 @ 2:24 pm By JD Alois  |  

Last week the Senate Banking Committee held a confirmation hearing for Gary Gensler, the individual selected by President Biden to lead the Securities and Exchange Commission (SEC). Gensler is well known to Washington, DC having previously been Chairman of the Commodities Futures Trading Commission during… Read More

March 4, 2021 @ 4:34 pm By JD Alois  |  

SEC Commissioner Hester Peirce nudged the crypto crowd a bit this week pointing out that feedback on the SEC’s request for comments on digital asset custody is paltry at best. Commissioner Peirce has long been noted for her support of innovation in financial services and… Read More

March 4, 2021 @ 11:11 am By JD Alois  |  

Ripple is preparing to file a motion to dismiss in its ongoing legal battle with the Securities and Exchange Commission (SEC). Last December, it was reported that the SEC had filed a complaint charging Ripple with the sale of an unregistered security. Included in the… Read More