Tagged: sec

November 3, 2020 @ 3:26 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) Small Business Capital Formation Advisory Committee has scheduled a meeting for next week that will include the important topic of “Finders.” Finders are individuals or firms that help to match investors to smaller businesses. On October 7, the SEC… Read More

November 2, 2020 @ 10:00 pm By Ryan Feit  |  

Today marked a major turning point for the private capital markets in America.  While most of the country is squarely focused on the election, the SEC quietly passed dramatic improvements to securities laws for startups, small businesses and investors everywhere.  The SEC’s actions today signified,… Read More

November 2, 2020 @ 7:07 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) Small Business Capital Formation Advisory Committee will hold a public meeting by videoconference on Monday, November 9, 2020, from 10:00 a.m. to 2:30 p.m. (ET). The meeting will be open to the public via a live-stream on the SEC website…. Read More

November 2, 2020 @ 3:17 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Division of Enforcement, has published its annual report for the 2020 fiscal year. According to the report, the Commission brought 715 enforcement actions of which 405 were “standalone” actions. The Commission also obtained more than 475 bars or suspensions… Read More

November 2, 2020 @ 1:20 pm By JD Alois  |  

Congressman Patrick McHenry, the Ranking Member of the House Financial Services Committee, has issued a statement applauding the Securities and Exchange Commission’s rule change today that seeks to improve and simplify the exempt offering ecosystem. Congressman McHenry stated: “Today’s action by the SEC will help… Read More

November 2, 2020 @ 12:51 pm By JD Alois  |  

During an open meeting of the Securities and Exchange Commission (SEC), the Commission approved updates to the exempt offering ecosystem that are designed to improve access to capital, boost access to greater opportunity for investors while maintaining important investor protection criteria. In a party-line vote,… Read More

October 27, 2020 @ 1:58 pm By JD Alois  |  

William (Bill) Hinman, Director of the Security and Exchange Commission’s Division of Corporation Finance, plans to leave the SEC later this year, according to a notice posted by the agency. Hinman joined the SEC in 2017 and was soon engulfed in the initial coin offering… Read More

October 27, 2020 @ 12:37 pm By JD Alois  |  

    Recently, Kik settled a long legal battle with the Securities and Exchange Commission (SEC). In the end, Kik must pay a $5 million settlement pertaining to an initial coin offering (ICO) that was deemed to be an unregistered security offering. Additionally, for the… Read More

October 27, 2020 @ 8:35 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has scheduled an open meeting to “consider whether to adopt rule amendments to facilitate capital formation and increase opportunities for investors by expanding access to capital for small and medium-sized businesses and entrepreneurs across the United States.” The meeting… Read More

October 19, 2020 @ 6:57 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) issued a litigation release today alleging charges of microcap fraud that involved an attorney prominent in the US crowdfunding sector. According to the SEC complaint, Jillian Sidoti, affiliated with the law firm known as CrowdfundingLawyers.net, facilitated alleged fraudulent dumping… Read More

October 7, 2020 @ 2:40 pm By JD Alois  |  

A Longstanding Grey Area Today at an open meeting, the Securities and Exchange Commission (SEC) proposed an update to rules pertaining to “Finders” –  individuals or firms that help smaller businesses find investors. The potential change will subject these individuals or firms to reduced regulation… Read More

October 5, 2020 @ 8:17 pm By JD Alois  |  

John McAfee, a blockchain advocate and former software entrepreneur that created McAfee ant-virus software, is the target of a Securities and Exchange Commission (SEC) enforcement action pertaining to the promotion of initial coin offerings (ICOs). The civil action by the SEC was joined by criminal… Read More

October 3, 2020 @ 8:12 am By JD Alois  |  

This past week, Kik, a company that raised over $100 million in an initial coin offering (ICO), lost a long legal battle with the Securities and Exchange Commission (SEC). The courts determined that Kik had raised capital in an unregistered securities offering thus transgressing securities… Read More

October 1, 2020 @ 10:36 am By JD Alois  |  

Kik, a company that raised around $100 million in an initial coin offering (ICO), has lost a battle with the Securities and Exchange Commission as it fought a claim the offering was in fact an unregistered security. In a court filing yesterday, Judge Alvin K…. Read More

September 30, 2020 @ 8:04 pm By JD Alois  |  

The Securities and Exchange Commission has scheduled an open meeting on the topic of “finders.” The Commission will consider a conditional exemption from broker registration requirements for individuals to engage in “certain limited activities” on behalf of securities issuers. To quote the Commission: “The Commission… Read More

September 30, 2020 @ 11:09 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced charges against a Florida individual who allegedly defrauded investors in a digital asset trading scheme, according to a court filing. The SEC alleges that Thomas J. Gity, said to be a convicted felon with no professional financial… Read More

September 26, 2020 @ 9:24 am By JD Alois  |  

The Securities and Exchange Commission (SEC), Division of Trading and Markets, issued a no-action letter to FINRA yesterday afternoon that impacts certain trading platforms that serve as markets for digital assets that are securities. FINRA is a self-regulatory entity that coordinates with the SEC regarding… Read More

September 21, 2020 @ 4:39 pm By JD Alois  |  

The Office of the Comptroller of the Currency (OCC), part of the US Department of Treasury, has issued an interpretive letter pertaining to banks and federal savings entities pertaining to “certain stablecoins.” Stablecoins are digital currencies that are based on a fiat currency or specific… Read More

September 19, 2020 @ 12:46 pm By Omar Faridi  |  

Uniswap, a non-custodial Ethereum token exchange, recently introduced a “governance” token, called UNI. There will be 1 billion UNI tokens that will be released to the general public over the course of the next 4 years. UNI tokens will be allocated to Uniswap’s community members…. Read More

September 15, 2020 @ 5:32 pm By JD Alois  |  

Earlier today, the Securities and Exchange Commission (SEC) announced a settlement with Unikrn, a digital asset issuer that was deemed to have transgressed securities law in the offering of an unregistered security via an initial coin offering (ICO). Unikrn agreed to pay a $6.1 million… Read More