Tagged: securities and exchange commission

April 14, 2023 @ 4:50 pm By JD Alois  |  

Representative Patrick McHenry and Representative Ann Wagner have sent a letter to Securities and Exchange Commission Chair Gary Gensler criticizing him for neglecting the Commission’s mission to enable access to capital for businesses. McHenry is Chairman of the House Financial Services Committee, and Wagner is… Read More

April 14, 2023 @ 12:19 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) re-opened comments on a proposed rule during a meeting of the Commission that in many respects raised more questions than provided answers. The proposed amendments to the definition of “exchange” under Exchange Act Rule 3b-16 were initially proposed in… Read More

April 10, 2023 @ 4:13 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has scheduled an open meeting for April 14, 2023, to consider reopening the comment period of the proposed changes. The SEC proposed amendments to Rule 3b-16 under the Exchange Act Regarding the Definition of “Exchange,” which could potentially impact… Read More

April 9, 2023 @ 11:46 pm By JD Alois  |  

Binance.US is having a hard time parking cash in a bank following the collapse of Silvergate Bank and Silicon Valley Bank (SVB). According to a report by WSJ.com, Binance.US is working with a “middleman” to manage cash for dollar deposits – said to be Prime… Read More

April 5, 2023 @ 8:16 am By Omar Faridi  |  

The Securities and Exchange Commission has charged Charlie Javice, the founder of the defunct student loan assistance company previously known as Frank, “with fraud in connection with the $175 million sale of the company to JP Morgan Chase Bank, N.A. (JPMC) in 2021.” The SEC’s… Read More

April 3, 2023 @ 4:26 pm By JD Alois  |  

Last week, the Securities and Exchange Commission (SEC) charged beaxy with operating as a national securities exchange minus the authorization to do so. The SEC filed charges against founder beaxy Artak Hamazaspyan, and his company Beaxy Digital, Ltd., for raising $8 million in an unregistered… Read More

March 27, 2023 @ 3:23 pm By Omar Faridi  |  

Crypto appears to have chosen an unlikely supporter in its ongoing struggle against oversight by the US Securities and Exchange Commission: an ex- Coinbase worker who was convicted of allegedly engaging in insider trading. This, according to a recent report by the WSJ. Ishan Wahi,… Read More

March 24, 2023 @ 8:09 am By Omar Faridi  |  

  After trying to evade law enforcement for around six months, Terraform Labs CEO Do Kwon has now been taken into police custody in Montenegro. Kwon and Terraform Labs were responsible for TerraUSD, an aspiring algorithmic stablecoin, and sister crypto Luna, which collapsed last year… Read More

March 14, 2023 @ 11:41 am By JD Alois  |  

The US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) have launched investigations into Silicon Valley Bank’s (SVB) failure. Last Friday, federal regulators took over the bank as customers rushed to pull money out of the bank due to concerns about its… Read More

March 13, 2023 @ 4:53 pm By Omar Faridi  |  

Equifax Inc. (NYSE: EFX) has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) in connection with the company’s acquisition of Boa Vista Serviços, which is reportedly the second-largest credit bureau in Brazil. Equifax and Boa Vista Serviços “entered into a Merger… Read More

March 13, 2023 @ 9:18 am By JD Alois  |  

Securities and Exchange Commission (SEC) Chair Gary Gensler has issued a curt statement warning against nefarious activity taking advantage of the current banking crisis. Gensler stated: “In times of increased volatility and uncertainty, we at the SEC are particularly focused on monitoring for market stability… Read More

March 9, 2023 @ 10:50 am By JD Alois  |  

In a diplomatically worded missive, the Securities and Exchange Commission, Small Business Capital Formation Advisory Committee, has posted a “Parting Perspective Letter” regarding its efforts in recent years while outlining its recommendations – that the Commission has ignored. The letter, signed by Committee Chair Carla… Read More

February 27, 2023 @ 11:10 am By JD Alois  |  

In recent weeks, the Securities and Exchange Commission (SEC) has stepped up its enforcement activities in regard to the digital asset ecosystem. In the past, SEC Chairman Gary Gensler has asserted that all digital assets are securities, with the exception of Bitcoin. At one point,… Read More

February 22, 2023 @ 11:44 am By JD Alois  |  

  The Securities and Exchange Commission (SEC), Investor Advisory Committee (IAC), has scheduled a meeting to take place on Thursday, March 2nd, 2023. The IAC was created under the D0dd-Frank Act and is designed to advise the Commission on initiatives aimed at representing individual investors,… Read More

February 13, 2023 @ 10:21 am By JD Alois  |  

The SEC’s takedown of Kraken’s staking service continues to generate after-shocks as the digital asset industry ponders its ability to provide services to US customers. Kraken paid a $30 million penalty to make the issue go away without admitting or denying any guilt regarding the… Read More

February 10, 2023 @ 8:44 am By Omar Faridi  |  

  Digital asset firm Kraken’s settlement with the US Securities and Exchange Commission (SEC) has left many wondering what this means for the industry’s future. Fireblocks’ Chief Legal & Compliance Officer Jason Allegrante and Proof of Stake Alliance (POSA)’s Executive Director Alison Mangiero have the… Read More

February 9, 2023 @ 4:06 pm By JD Alois  |  

Following industry rumblings anticipating the move, the Securities and Exchange Commission (SEC) has taken action against crypto exchange Kraken in regard to their staking service. Kraken has settled the charges by the SEC without admitting or denying the allegations and paying a $30 million penalty…. Read More

February 9, 2023 @ 9:46 am By JD Alois  |  

Brian Armstrong, CEO and founder of Coinbase (NASDAQ:COIN), took to Twitter yesterday to share his belief that crypto staking is doomed as regulators – the Securities and Exchange Commission (SEC) – will soon kill off the popular method of generating revenue for parked crypto. Currently,… Read More

January 31, 2023 @ 12:36 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Small Business Capital Formation Advisory Committee (SBCFAC), has posted its agenda for its next meeting. The Committee was created by law to advise the Commission on issues, including rules and regulations that impact small businesses, providing valuable feedback as… Read More

January 27, 2023 @ 8:08 am By Omar Faridi  |  

US securities regulators are looking into the operations of investment advisers over crypto-asset custody. The US Securities and Exchange Commission (SEC) is examining the activities of registered investment advisers over whether they’re following applicable guidelines around custody of customer digital assets. This, according to sources… Read More