Crypto enthusiasts were cheering what many reports were calling a “Monumental” ruling by a Federal Court. The court ruled in favor of Blockvest, a crypto Initial Coin Offering (ICO) that was still in its initial testing phase, well before any real investing had ever taken place. The U.S. Securities and Exchange Commission (SEC) had shuttered…
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Bitcoin values have been plummeting, some 77% down from its high a year ago, but enthusiasts have always held out hope that institutional investors would save the day. Many of these hopes have been held captive by the SEC, which has already turned down in 2018 over a dozen applications to form a Bitcoin Exchange-Traded…
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The Securities and Exchange Commission (SEC) has announced that it has charged Giga Entertainment Media Inc. and five of its former officers and directors—Gary Nerlinger, Jarret Streiner, Lawrence Silver, Alfred Colucci, and Charles Noska—with fraud in connection with a scheme to mislead investors. According to the SEC’s complaint, between February and August 2016, the company…
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The Securities and Exchange Commission (SEC) has announced that it has agreed to resolve its insider trading claims against James V. Mazzo, the former Chairman and Chief Executive Officer of Advanced Medical Optics, Inc. (AMO) for allegedly tipping information about his company's acquisition to his close personal friend, former professional baseball player Douglas V. DeCinces.…
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Zachary Coburn, the founder of EtherDelta, has been charged by the SEC for operating an unregistered exchange, states a press release from the financial regulator. As the SEC reports, EtherDelta is an online trading platform for ERC20 tokens. Mr. Coburn has operated EtherDelta as an unregistered national securities exchange. The smart contracts used by the…
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The Securities and Exchange Commission (SEC) has just announced that Citibank N.A. has agreed to pay $38.7 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs). ADRs – U.S. securities that represent foreign shares of a foreign company – require a corresponding number of foreign shares to be held in custody…
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The Securities and Exchange Commission (SEC) has announced that ITG Inc. and its affiliate AlterNet Securities Inc. have agreed to pay $12 million to settle charges arising from ITG’s misstatements and omissions about the operation of the firm’s dark pool, POSIT, and ITG’s failure to establish adequate safeguards and procedures to protect POSIT subscribers’ confidential…
Read moreThe Securities and Exchange Commission (SEC) has announced that Anthony S. Kelly, Co-Chief of the Enforcement Division’s Asset Management Unit, will be leaving the agency this month after more than 18 years of service. The Asset Management Unit is the Division’s largest specialized unit and focuses on misconduct by investment advisers and service providers to…
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The Securities and Exchange Commission (SEC) has announced that it has updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 16 soliciting entities, four impersonators of genuine firms, and eight bogus regulators. The SEC also made technical updates to its database to make it easier for retail investors…
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The Securities and Exchange Commission (SEC) has announced that it has voted to adopt amendments to modernize the property disclosure requirements for mining registrants, and related guidance, under the Securities Act of 1933 and the Securities Exchange Act of 1934. The amendments will provide investors with a more comprehensive understanding of a registrant’s mining properties,…
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