Daily Archives: October 11, 2018, 10:38 am

SEC Stops Fraudulent ICO That Falsely Claimed SEC Approval

The Securities and Exchange Commission today announced that it has obtained an emergency court order halting a planned initial coin offering (ICO), which backers falsely claimed was approved by the SEC. The order also halts ongoing pre-ICO sales by the company, Blockvest LLC and its founder, Reginald Buddy Ringgold, III. via SEC.gov | SEC Stops Fraudulent ICO That Falsely Claimed SEC…

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SEC widens its crackdown on token sales

During the past few months, the Securities and Exchange Commission has significantly widened its crackdown on certain initial coin offerings, putting hundreds of cryptocurrency startups at risk. The SEC sent out a slew of initial information-seeking subpoenas at the start of 2018. Now the agency has returned to many of those companies, and subpoenaed many more—focusing on those that failed…

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Top SEC, FINRA officials say downtrend in enforcement cases not caused by pullback | Reuters

But Peikin said the SEC’s shifting focus has been effective in aligning enforcement with the agency’s core mission of providing investor protection. The SEC has also pushed for quick responses to stem risky behavior before it grows into a long-running investigation that ends with a large payoff. Instead it is ending cases with non-monetary relief, undertakings and injunctions to curb…

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Hedge funds step up to lead shareholder suit against Tesla | Reuters

The Tempus International Fund and the Opportunity Unique Fund, which are both managed by Brazil’s Opportunity Gestão de Investimentos e Recursos Ltda, were among more than a dozen Tesla investors to file motions Tuesday night in federal court in San Francisco, where U.S. District Judge Edward Chen is overseeing lawsuits alleging that Tesla CEO Elon Musk deceived shareholders when he…

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