The Securities and Exchange Commission today proposed a rule that would revise the Commission’s regulations under the Privacy Act. The Privacy Act is the principal law governing the handling of personal information in the federal government. The current… Read the Full Press Release Have a securities law question? Call New […]
Author: Mark J. Astarita
Kraken to Discontinue Unregistered Offer and Sale of Crypto Asset Staking-As-A-Service Program and Pay $30 Million to Settle SEC Charges
Feb. 9, 2023, the SEC has taken action against Payward Ventures, Inc. and Payward Trading Ltd., commonly known as Kraken, for violating federal securities laws by failing to register the offer and sale of their crypto-asset staking-as-a-service program. Both Kraken entities have agreed to a settlement, which requires them to […]
Issues with Self-Directed IRAs
Self-Directed IRAs: A Gateway to Financial Empowerment? Many investors believe that using a self-directed IRA will give them greater control over their retirement savings and greater potential profits. As financial professionals are aware, unlike traditional IRAs, self-directed IRAs empower account holders to diversify their investment portfolios by venturing beyond the […]
SEC Seeks Applicants for Public Company Accounting Oversight Board Seat
The Securities and Exchange Commission today announced the start of the selection process to fill a seat on the Public Company Accounting Oversight Board (PCAOB) that will become vacant in October. The PCAOB appointment is for a five-year term from… Read the Full Press Release Have a securities law question? […]
SEC Division of Examinations Announces 2023 Priorities
The Securities and Exchange Commission’s Division of Examinations today announced its 2023 examination priorities. The Division publishes its examination priorities annually to provide insights into its risk-based approach, including the areas it… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
Jury Finds For Musk
A jury found that Musk was not liable for damages to Tesla investors for his “funding secured” tweet. It is important to keep in mind that this was an investor lawsuit, not an enforcement action by the SEC. V https://www.reuters.com/legal/securities-fraud-trial-over-elon-musks-2018-tweets-draws-close-2023-02-03/
Activision Blizzard to Pay $35 Million for Failing to Maintain Disclosure Controls Related to Complaints of Workplace Misconduct and Violating Whistleblower Protection Rule
Feb. 3, 2023 — The Securities and Exchange Commission today announced that Activision Blizzard Inc., a video game development and publishing company, agreed to pay $35 million to settle charges that it failed to maintain disclosure controls and procedures to ensure that the company could assess whether its disclosures pertaining […]
SEC Publishes Annual Staff Report on Nationally Recognized Statistical Rating Organizations
Feb. 2, 2023 — The Securities and Exchange Commission today published a staff report that provides a summary of the staff’s examinations of nationally recognized statistical rating organizations (NRSROs) and discusses the state of competition, transparency, and conflicts of interest among NRSROs. “The Office of Credit Ratings is critical to […]
Small Business Advisory Committee to Host Meeting to Discuss Alternatives to Traditional Private Company Financing, Private Fund Reforms, and Public Company Investment Research
Jan. 31, 2023 —The SEC’s Small Business Capital Formation Advisory Committee today released the agenda for its meeting on Tuesday, Feb. 7. The Committee will discuss alternative approaches to private company financing, the Commission’s February 2022 proposal regarding private fund advisers, and the role of equity research for smaller public […]
SEC Proposes Updates to Ethics Rules Governing Securities Trading by Personnel
Jan. 30, 2023 —The Securities and Exchange Commission today proposed amendments to its ethics rules to strengthen and modernize its ethics compliance program. The amendments would add new requirements and prohibitions to the program, which already includes some of the most stringent ethics requirements in the executive branch for all […]
