Tag Archives: SEC

The SEC Announces Two New Initiatives to Address Digital Token Sales

At the end of September, the Securities Exchange Commission (“SEC”) announced two new initiatives to address cyber-based threats and protect retail investors. In the press release, the SEC outlined the creation of the Cyber Unit (“Unit”) and the Retail Strategy Task Force (“RSTF”).  The Unit will focus on targeting cyber-related misconduct.  The RSTF was established … Continue Reading

The FCA Speaks Out on Initial Coin Offerings

The initial coin offerings (ICOs) regulatory map has begun to take shape with the U.S. Securities and Exchange Commission (SEC), the Canadian Securities Administrators (CSA), the UK’s Financial Conduct Authority (FCA), Singapore, Hong Kong, China and Australia offering their opinions on ICOs.  The FCA recently stated that ICOs are “very high-risk, speculative investments.”  The Dubai … Continue Reading

Busy Summer for Distributed Ledger Technology

Distributed Ledger Technology (DLT) and cryptocurrency have been a hot topic this summer.  DLT has begun its transition from a proof-of-concept phase, to a real world deployment. Some of the changes over the last six weeks include: Bitcoin splitting into two currencies; the Securities Exchange Commission (SEC), the Canadian Securities Administrators (CSA), and the Monetary … Continue Reading

SEC Securities Trading Suspension for Three Blockchain- Related Companies

Digital tokens are now being incorporated into federal and state regulatory regimes.  Over the past two weeks, the Securities and Exchange Commission (“SEC”) has suspended the trading of company securities of three publicly-traded blockchain-related companies The first company to be suspended was CIAO Group, Inc. (“CIAU”) due to questions regarding the accuracy of statements pertaining … Continue Reading

SEC Increases Focus on Cyber Incident Response

In the past few years, we have seen an uptick in agencies beginning to focus on the cybersecurity readiness and response of organizations subject to their jurisdiction. The U.S. Securities and Exchange Commission (SEC), for example, has identified cybersecurity as a top priority for many years. This past June, the SEC named Stephanie Avakian and … Continue Reading

Leveraging the Blockchain to Provide an Unalterable, Distributed Ledger for Transactions, Supply Chains and Other Corporate Processes

On Monday, November 14, 2016, the Securities and Exchange Commission (SEC) hosted a forum to discuss financial technology (FinTech) innovation in the financial services industry. The summit discussed several topics, but the second panel, titled “Impact of Recent Innovation on Trading, Settlement, and Clearance Activities,” specifically addressed blockchain-enabled distributed ledger technology and its applicability in … Continue Reading

Cybersecurity Oversight: What is a Board of Directors to Do?

Cybersecurity and the risks of data breaches figured prominently at the 35th Annual Ray Garrett Corporate and Securities Law Institute held April 30, 2015, at Northwestern Law School in Chicago. Participating in a panel addressing Cybersecurity and Data Breach: The New Reality for Directors and Those Who Advise Them, Reed Smith partner Mark Melodia and … Continue Reading
LexBlog