Tagged: sec

January 29, 2020 @ 9:21 am By JD Alois  |  

The Securities and Exchange Commission (SEC) Small Business Capital Formation Advisory Committee has published its agenda for the forthcoming meeting taking place on February 4th. According to the SEC, the committee will explore funding gaps that impede growth opportunities for entrepreneurs and job creators. The… Read More

January 23, 2020 @ 3:06 pm By JD Alois  |  

Outspoken entrepreneur and CEO of Prime Trust Scott Purcell has shared his thoughts on the Securities and Exchange Commission’s (SEC) proposal to modernize the current definition of an accredited investor. At the moment, an accredited investor in the US is measured by a wealth metric…. Read More

January 21, 2020 @ 8:50 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged Sergii “Sergey” Grybniak and his company Opporty International, Inc. for an allegedly fraudulent initial coin offering. According to the SEC, Grybniak and his company raised $600,000 from around 200 investors during the sale of unregistered “digital asset… Read More

January 21, 2020 @ 8:59 am By JD Alois  |  

While investment crowdfunding rules initially were targeted at early-stage ventures in need of growth capita,l the new rules have fueled the rise of investment platforms for another asset class: real estate investment opportunities. Early-stage ventures, from seed rounds to later-stage venture rounds, tend to include… Read More

January 20, 2020 @ 10:12 am By Cali Haan  |  

In its latest submission in a case against private messaging app provider Telegram, the SEC claims that, Telegram has been using funds raised to develop the TON blockchain to rather cover operating expenses at the messaging business. Telegram raised $1.7 billion USD from 171 purchasers… Read More

January 17, 2020 @ 4:13 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Office of the Advocate for Small Business Capital Formation, has scheduled a public meeting to discuss the state of access to capital for smaller firms. The “Capital Call” is described as being held similar to a public company’s earnings… Read More

January 17, 2020 @ 11:35 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced another enforcement action targeting a bogus initial coin offering (ICO). According to a release, the SEC has charged convicted criminal Boaz Manor, his business associate, and two businesses, CG Blockchain Inc. and BCT Inc. SEZC, with raising… Read More

January 14, 2020 @ 2:44 pm By Cali Haan  |  

The US Securities and Exchange Commission’s (SEC’s) Investor Education and Advocacy division is warning the public that, because both Initial Exchange Offerings (IEOs) and the platforms selling them may be unregistered and unregulated, investing in IEOs may be high risk- and not much different than… Read More

January 14, 2020 @ 1:24 pm By Anthony Zeoli  |  

While it passed somewhat under the radar with the holiday season, on December 18, 2019, the Securities and Exchange Commission (“SEC”) released a proposal to significantly amend the existing “accredited investor” definition; which is integral in determining who can participate in private securities transactions. The… Read More

January 12, 2020 @ 8:43 am By Cali Haan  |  

The US Securities and Exchange Commission (SEC) is seeking a default judgment against Nikolay Evdokimov and his Cayman Islands firm ICOBox. The agency is also seeking permanent enjoinment of Evdokimov and ICOBox, a $16,059,428.99 disgorgement and a civil penalty against Evdokimov of about $190 000… Read More

January 11, 2020 @ 7:47 am By Cali Haan  |  

In the SEC’s January 2nd letter requesting compulsion of bank records from private messaging app provider Telegram, the regulator claimed it had documents showing that Telegram, “paid commissions to purchasers who were buying Grams to resell to other investors…” Brokered sales, the SEC wrote, “render… Read More

January 10, 2020 @ 7:42 pm By Cali Haan  |  

A judge presiding over case involving the SEC and private messaging company Telegram has ruled that the SEC can ask deposed executives questions about how they have been disposing of $1.7 billion USD raised in 2018 to fund construction of the Telegram blockchain. The SEC… Read More

January 10, 2020 @ 4:06 pm By JD Alois  |  

  The Securities and Exchange Commission today released the agenda for the inaugural meeting of the Asset Management Advisory Committee, which will be held on Jan. 14, 2020, at 9 a.m. ET. The Committee was formed to provide the Commission with diverse perspectives on asset… Read More

January 8, 2020 @ 10:38 pm By Cali Haan  |  

The SEC’s Office of Compliance Inspections and Examinations (OCIE) has released its 2020 Examination Priorities report. For the most part, there will be much business as usual at the OCIE, and the division will continue in 2020 to, “…prioritize the examination of certain practices, products, and… Read More

January 8, 2020 @ 9:29 pm By Cali Haan  |  

On Monday, Telegram, makers of the popular private messaging app Telegram, issued a public notice to, “clarify certain aspects of the TON Blockchain and Grams,” as the company, “continue(s) to prepare for a successful launch of the project.” TON is intended to function as a… Read More

January 7, 2020 @ 4:03 pm By JD Alois  |  

Telegram, issuer of one of the highest-profile token offerings of all time that raised $1.7 billion, is in the midst of a protracted legal battle with the Securities and Exchange Commission (SEC). Last October, the SEC filed an emergency action and obtained a temporary restraining… Read More

January 7, 2020 @ 3:16 pm By Cali Haan  |  

The judge presiding over an SEC case alleging Telegram sold unlicensed securities has denied the SEC’s request for immediate disclosure of bank records relating to Telegram’s $1.7 billion sale of GRAM cryptographic tokens. Instead, Judge P. Kevin Castel has ordered the private messaging company to, “set… Read More

January 6, 2020 @ 6:11 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) is on the cusp of a significant update to the definition of an accredited investor (AI). Depending on the final rules, the Commission could broadly expand access to private securities offerings – a sector of the capital markets that… Read More

January 4, 2020 @ 9:24 am By Cali Haan  |  

The US Securities and Exchange Commission (SEC) has asked a judge to order Telegram to submit bank records detailing how it has been spending $1.7 billion USD it raised from investors in 2018, Finance Magnates(FM) reports. Telegram is currently contesting emergency orders obtained by the… Read More

January 4, 2020 @ 9:16 am By JD Alois  |  

The Securities and Exchange Commission has announced that Longfin Corp. CEO Venkata S. Meenavalli has agreed to pay $400,000 in disgorgement and penalties to resolve the SEC’s fraud action against him. Longfin was a blockchain-focused company that completed a Reg A+ securities offering and quickly… Read More