Securities, Section 5

Western District Of Texas Dismisses Putative Securities Class Action Against Cryptocurrency Exchange For Lack Of Personal...

A&O Shearman on 9/24/2024

On September 6, 2024, Judge Robert Pitman of the United States District Court for the Western District of Texas dismissed a putative securities class action against a family of corporations (“Corporate Defendants”) that,...more

Kraken Agrees to Settlement with SEC Including $30 Million Penalty

Shipkevich PLLC on 2/10/2023

As of February 9, 2023, the Securities and Exchange Commission (SEC) has accused Payward Ventures, Inc. and Payward Trading Ltd, better known as Kraken, of failing to register the sale of their cryptocurrency...more

New Corp Fin CDIs Clarify QIB Status for Rule 144A Offerings

Stinson - Corporate & Securities Law Blog on 12/12/2016

The SEC’s Division of Corporation Finance staff released 35 new Compliance and Disclosure Interpretations (C&DIs) on December 8th. Among numerous interpretations focused on issues applicable to foreign private issuers and...more

Small Business Securities Bulletin: 505 Is Not Alive: SEC Adopts New and Amended Rules Governing Intrastate and Small Offerings

Baker Donelson on 11/16/2016

As we have discussed in prior Bulletins, pursuant to Section 5 of the Securities Act of 1933 (Securities Act) and state securities laws, any offer and sale of a security must be registered with the Securities and Exchange...more

Securities Fraud – a Lesson for Promoters

Gray Reed on 7/26/2016

We discussed SEC v. Arcturus et al last week and promised more. Here it is. Did defendants commit securities fraud? It doesn’t matter. Violations of Sections 5 of the Securities Act and 15.A of the Exchange Act are...more

Pre-IPO Selling Procedures Need to Be Adequately Supervised, According to FINRA

Broker-Dealer Compliance + Regulation on 5/9/2014

Broker-dealers selling interests in IPOs need to have adequate supervisory systems to ensure that registered representatives do not make actual sales before the securities are registered, according to a settlement of a formal...more