Tagged: securities and exchange commission

November 12, 2017 @ 3:00 pm By Samuel Guzik  |  

Man Proposes and God Disposes On November 8, at an Annual  New York City gathering of securities professionals, SEC Chair Jay Clayton went off script – and in doing so provided what is likely to be the clearest guidance we can expect to receive from… Read More

November 6, 2017 @ 12:17 pm By Samuel Guzik  |  

As a securities lawyer and a sometimes advocate for smart regulation of capital formation, I must confess: When it comes to addressing the current state of the Initial Coin Offering (ICO) marketplace, I believe that market participants face a crisis of growing proportions. No Hype… Read More

November 1, 2017 @ 4:27 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) is out with a note, and an investor alert, warning celebrities against the “unlawful” promotion of Initial Coin Offerings (ICOs) and other investment opportunities. The SEC is referencing the multiple, prominent endorsements of ICOs by high profile celebrities such… Read More

October 26, 2017 @ 11:10 pm By JD Alois  |  

The US Securities and Exchange Commission (SEC) pumped their regulatory brakes on Initial Coin Offerings (ICOs) earlier this year. Pointing to the DAO debacle, the Feds said if a tokenized offering is a security it will be regulated, end of story. This  statement was a long… Read More

October 19, 2017 @ 8:00 pm By Scott Andersen  |  

Even with the flexibility provided to Regulation D private placement offerings by Title II of the JumpStart Our Business Startups (JOBS) Act, U.S. Securities and Exchange Commission (SEC) data has consistently shown that most Regulation D offerings continue to raise capital under traditional Rule 506(b). … Read More

October 18, 2017 @ 11:54 am By JD Alois  |  

The annual Securities and Exchange Commission’s Government-Business Forum on Small Business Capital Formation has been scheduled for November 30th.  In a shift from years past where the Forum was held in the SEC’s headquarters in Washington, DC, the event will take place in Austin, Texas…. Read More

October 3, 2017 @ 7:00 pm By JD Alois  |  

The Financial Industry Regulatory Authority or FINRA is currently in the midst of a comprehensive review of its rules and practices. The internal project has been labeled FINRA 360 and is said to ensure that FINRA is operating as the most effective self-regulatory organization it can be…. Read More

October 3, 2017 @ 10:04 am By JD Alois  |  

SEC Chairman Jay Clayton is scheduled to visit with the House Financial Services Committee tomorrow (October 4) beginning at 10AM ET. Clayton already testified before the Senate Banking Committee a few days back. The hearing is entitled “Examining the SEC’s Agenda, Operations, and Budget.” The… Read More

October 2, 2017 @ 11:45 am By JD Alois  |  

SEC Chairman Jay Clayton has provided an updated on the intrusion into EDGAR that occurred back in 2016. Additionally, the SEC Chair said the Commission would be strengthening its defenses agains future attempts to hack the SECs systems. The investigation has now determined that an… Read More

September 29, 2017 @ 5:16 pm By JD Alois  |  

NYSE Arca has withdrawn the application that was pending before the Securities and Exchange Commission seeking approval to list shares of the Bitcoin Investment Trust. Grayscale Investments, LLC, is the sponsor of the Trust that currently trades on OTC Markets (OTCQX:GBTC). Grayscale said that earlier this… Read More

September 22, 2017 @ 5:45 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has published the agenda for the upcoming Investor Advisory Committee (IAC) meeting scheduled for October 12th. The meeting may be a bit more interesting as there is a panel scheduled to discuss Blockchain utilization or Distributed Ledger Technology (DLT)… Read More

September 18, 2017 @ 11:28 am By JD Alois  |  

The Securities and Exchange Commission (SEC) Investor Advisory Committee (IAC) has scheduled its next meeting at SEC HQ for October 12th. The meeting is open to the public but the SEC always live streams the proceedings on the SEC web site. According to the announcement… Read More

September 13, 2017 @ 10:33 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced the launch of a nationwide search to fill the position of the Advocate for Small Business Capital Formation. The new post was created by legislation signed into law at the end of 2016. The mission of the Advocate… Read More

September 1, 2017 @ 10:33 am By JD Alois  |  

Securities and Exchange Chairman Jay Clayton has published the name is his executive staff. The SEC announced that John Cook, Jeffrey Dinwoodie, Raquel Fox, Kristina Littman, Alan Cohen, Christopher Carofine, and Shelby Begany Telle have been named to the executive staff of Chairman Jay Clayton…. Read More

August 30, 2017 @ 9:19 am By JD Alois  |  

The Securities and Exchange Commission (SEC), office of Investor Education and Advocacy, is out with a note on the booming Initial Coin Offering market telling investors to beware. The ICO market has grown rapidly with estimates topping $2 billion in token sales this year alone…. Read More

August 21, 2017 @ 8:00 am By Jor Law  |  

So you were ready to do an initial coin offering (ICO), and then the Securities Exchange Commission released an investigative report concluding that DAO tokens were securities.  Seasoned securities attorneys have always known that token sales could implicate securities laws if the tokens were treated… Read More

July 30, 2017 @ 2:17 pm By JD Alois  |  

In the aftermath of the SEC statement on Initial Coin Offerings and their intent to crack down on issuers in breach of securities law we reached out to Morrison Foerster for commentary on the question as to when an ICO is in fact a security…. Read More

July 29, 2017 @ 6:07 pm By JD Alois  |  

Tim Draper, a well known Venture Capitalist who is very active in Fintech, posted an open letter last week addressed the Securities and Exchange Commission regarding the recent comments on regulating Initial Coin Offerings. The letter was published in conjunction of the launch of the… Read More

July 27, 2017 @ 3:00 pm By Patrick A. Reardon  |  

  The decline in the number of public companies in the United States and the decline in the number of initial public offerings (IPOs) that occur each year are widely decried. It is irony that many who bemoan these changes are the very persons who… Read More

July 25, 2017 @ 7:03 pm By Amy Wan  |  

My Facebook Messenger was blowing up this afternoon. “OMG Have you seen this?” “What does this mean?” “Can you explain what this says in stupid people talk?” They were all referring to today’s SEC  announcement on ICOs. So, I’ll take 15 minutes from what was… Read More