On July 31, 2023, Judge Jed S. Rakoff in the Southern District of New York ruled that the U.S. Securities and Exchange Commission (SEC) may proceed with its case against Terraform Labs (“Terraform”) and its CEO, Do Hyeong...more
On July 13, 2023, Judge Analisa Torres in the Southern District of New York issued the much-anticipated summary judgment order in the Securities and Exchange Commission’s (SEC) case against Ripple Labs and two senior leaders,...more
7/18/2023
/ Asset Tokens ,
Bitcoin ,
Blockchain ,
Cryptocurrency ,
Digital Assets ,
Fund Transfers ,
Hedge Funds ,
Howey ,
Investment Contract ,
Lock-Up Agreement ,
Ripple ,
Securities and Exchange Commission (SEC) ,
Securities Transactions ,
Unregistered Securities
In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources....more
6/14/2023
/ Conflicts of Interest ,
Corporate Counsel ,
Digital Assets ,
Disclosure Requirements ,
Enforcement Actions ,
Failure To Disclose ,
Investment Adviser ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Share Buybacks ,
Special Purpose Acquisition Companies (SPACs) ,
Transparency
As a fitting cap to a busy month, on March 30, the SEC Division of Examinations announced its 2022 Examination Priorities. These priorities are consistent with the recent activities of the SEC more generally, as exemplified...more
4/6/2022
/ Chief Compliance Officers ,
Cybersecurity ,
Digital Assets ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Company Act of 1940 ,
Investors ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Special Purpose Acquisition Companies (SPACs)
On February 17, 2022, Deputy Attorney General (DAG) Lisa Monaco announced a significant step in advancing its cryptocurrency-related enforcement priorities by naming the first leader of the National Cryptocurrency Enforcement...more
So far in 2020, the U.S. Securities and Exchange Commission (SEC) has brought fifteen enforcement actions in the offerings of digital assets space. Three of these actions do not involve fraud; rather, they allege solely...more
9/24/2020
/ Blockchain ,
Digital Assets ,
Digital Currency ,
Enforcement Actions ,
Fraud ,
Online Gaming ,
Payment Tokens ,
Section 5 ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Fraud