Tag: SEC

August 28, 2020 BY Steffy Bogdanova

INX Limited becomes the first SEC-cleared Security Token IPO

Gibraltar’s Minister for Digital and Financial Services, the Hon Albert Isola MP, commented: The news that the Gibraltar-domiciled INX platform has become the first SEC-cleared security token IPO is a hugely important moment for INX, but also for our jurisdiction’s burgeoning ecosystem. Here in Gibraltar, we continue to break new ground with regard to blockchain…

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Over 20 unregistered foreign companies added to CFTC RED list
August 25, 2020 BY Steffy Bogdanova

CFTC updates RED list with 22 unregistered foreign companies

The new additions to the RED list include: Allegra Markets IDB Traders/Baltic Concert LLP Capital 245 MM Financial Experts Coinexx Omega Crypto Crown Finance Omega Capitals EagleFX Platin CFD Easy Line Pro Richmond FG F1 Trade Top Option 360 FX Dealer Trade GF FXVIP Turnkey Forex Global Capital Options VIP Businesses Grand Tradefx Wellington INV/Bali…

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SEC
August 14, 2020 BY Steffy Bogdanova

SEC raises charges against Boon.Tech and CEO for $5 million ICO

Kristina Littman, Chief of the SEC Enforcement Division’s Cyber Unit said: Investors are entitled to truthful disclosures from issuers of securities, whether digital or otherwise.  Pavithran and Boon.Tech defrauded investors by convincing them to fund this endeavor based on the allure of innovation that simply did not exist. The US watchdog found that Boon.Tech and…

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Interactive Brokers to pay over $38 million penalty to settle charges with SEC, CFTC and FINRA
August 11, 2020 BY Steffy Bogdanova

Interactive Brokers to pay over $38 million penalty to settle charges with regulators

The CFTC filed charges against Interactive Brokers for failing to supervise its officers’, employees’, and agents’ handling of several commodity trading accounts and not implementing adequate procedures to detect and report suspicious transactions as required under federal anti-money laundering (AML) laws and regulations. Interactive Brokers agreed to be censured, to cease and desist, and to…

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SEC acts against 11 firms neglecting electronic communications
July 29, 2020 BY Steffy Bogdanova

VFA to pay $40 million to settle charges brought by SEC

The US regulator also discovered that VFA did not disclose conflict of interest concerning millions of dollars of financial benefits that it received directly from advisory client mutual fund investments that were generally more expensive for clients than other mutual fund investment options available to clients. VFA agreed to pay $40 million to settle these…

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Online marketplace Trustify Inc. and its founder charged in $18.5 million fraud
July 27, 2020 BY Steffy Bogdanova

SEC charges online marketplace Trustify Inc. with $18.5 million fraud

Kelly L. Gibson, Director of the SEC’s Philadelphia Regional Office commented: As alleged in our complaint, Boice and Trustify lied to investors about their failing business to give the appearance of a thriving technology startup, while misappropriating investor funds to support an extravagant lifestyle. The scheme resulted in millions of dollars in investors losses, and…

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