Kraken operated its crypto trading platform as an unregistered securities exchange, broker, dealer, and clearing agency. SEC seeks an injunction, disgorgement and penalties
SECLaw Staff
SEC Adopts Rules to Improve Clearing Agency Governance and Mitigate Conflicts of Interest
On November 16, 2023, the SEC took a significant step towards fortifying the stability of clearing agencies by implementing innovative rules aimed at diminishing the influence of conflicts of interest on their boards of directors or equivalent governing bodies. What is a Clearing Agency? Clearing agencies, also known as clearinghouses, […]
Enhancing Investor Education and Protection in World Investor Week 2023
Introduction The Securities and Exchange Commission (SEC) has announced its commitment to emphasizing the significance of investor education and protection during the World Investor Week (WIW) 2023, which is scheduled from October 2nd to October 8th. The ever-evolving landscape of technologies and digital tools has revolutionized the investment landscape, making […]
American Infrastructure Funds Settles SEC Charges
American Infrastructure Funds LLC (AIM), a registered investment adviser based in Foster City, California, has agreed to a settlement with the SEC, in which AIM will pay over $1.6 million to resolve charges brought against the firm. These charges stem from several alleged breaches of its duties as an investment […]
ETF Manager Settles SEC Charges of Fraudulent Conduct
The SEC has taken action against an ETF Manager, alleging misconduct in the management of an exchange-traded fund (ETF). This scheme involved misleading the ETF’s trustees and securing a whopping $20 million in rescue financing to avert potential bankruptcy. As a result, Masucci and his entities have agreed to a substantial settlement of $4.4 million.
Florida Investment Adviser Settles Insider Trading Allegations with SEC
SEC Files Insider Trading Charges Against Charles Rustin Holzer The SEC has once again taken legal action against Charles Rustin Holzer, a family office executive and former broker. This comes after Holzer settled SEC charges last year related to his trading in options of Dun & Bradstreet Corp. (DNB) based […]
SEC Halts Utah-Based Crypto Asset Fraud Scheme Involving 18 Defendants
The SEC has secured temporary asset freezing, restraining orders, and other emergency measures against Digital Licensing Inc., operating under the name “DEBT Box,” a Draper, Utah-based entity. The action also involves the company’s four principals: Jason Anderson, Jacob Anderson, Schad Brannon, and Roydon Nelson, along with 13 other defendants. This […]
Fund Administrator Settles SEC Charges For Missing Red Flags
The SEC has taken action against Theorem Fund Services LLC (TFS), a Boca Raton-based fund administrator. The charges revolve around TFS’s failure to respond to red flags related to a fraudulent scheme targeting a private fund and its investors. The Background TFS found itself entangled in a web of deception […]
SEC Charges Former New Jersey Corrections Officer with Crypto Fraud Scheme Targeting Law Enforcement Personnel
The Securities and Exchange Commission today charged former New Jersey State Correctional Police Officer John A. DeSalvo with fraudulently raising funds through the unregistered offering of the Blazar Token, a crypto asset security he created but that… Read the Full Press Release Have a securities law question? Call New York […]
SEC Charges Former Attorney at U.S.-Based Global Law Firm with Insider Trading
The Securities and Exchange Commission today announced insider trading charges against Romero Cabral da Costa Neto for trading based on material, nonpublic information concerning a client of the global law firm where he worked as a visiting attorney from… Read the Full Press Release Have a securities law question? Call […]
