Securities and Exchange Commission files suit against New Hampshire firm LBRY for failure to register offering of securities LBRY Token

The Securities and Exchange Commission (SEC) has filed a civil suit against New Hampshire firm LBRY saying it “failure to register an offering of securities. The SEC Complain states: ” From 2016 through the present, LBRY offered and sold millions of dollars’ worth of unregistered securities to investors, in the form of a digital asset […]

Continue reading…

Major Canadian cryptocurrency exchange Coinsquare ordered to hand over client info to federal tax authorities

A major Canadian cryptocurrency exchange Coinsquare of Toronto has been ordered to render its client information to federal tax authorities following a first-of-its-kind court ruling. The Federal Court issued an order compelling Coinsquare Ltd. to reveal customer details to the Canada Revenue Agency as it expands its enforcement among cryptocurrency holders and traders. The tax agency […]

Continue reading…

Coinbase pays $6.5 million to settle charges by CFTC of fraudulent “wash trades” in Bitcoin and Litecoin

The US Commodity Futures Trading Commission (CFTC) said on Friday digital asset exchange Coinbase Inc paid $6.5 million to settle charges it reported misleading transaction data that potentially inflated the apparent trading volume on its professional GDAX platform. The fine was issued for  “wash trades” in litecoin and bitcoin by a former Coinbase employee on […]

Continue reading…

Securities and Exchange Commission issues first ever enforcement action on securities fraud on the darknet

The U.S. Securities and Exchange Commission has announced charges against California resident James Roland Jones in the first-ever enforcement action from the commission to target securities fraud on the darknet. The dark web was designed to let users access the internet anonymously and it is intentionally hidden requiring special software to access the content. It is […]

Continue reading…

Securities & Exchange Commission charges trader with fraud for false tweets alleging yield over $900,000 in profits

  The Securities and Exchange Commission has issued fraud charges and an asset freeze against a trader who used Twitter to spread false information about a defunct company. According to the SEC’s Complaint, the trader, Andrew Fassari secretly profited $900,000 by selling his own holdings of the company’s stock. The SEC complaint said he used […]

Continue reading…

SEC charges AT&T and three execs with selectively providing nonpublic information to research analysts

The Securities and Exchange Commission has charged AT&T, Inc. with repeatedly violating a securities regulation prohibiting disclosure of nonpublic ionformation, and three of its Investor Relations executives with aiding and abetting AT&T’s violations, by selectively disclosing material nonpublic information to research analysts. According to the SEC’s complaint, AT&T learned in March 2016 that a steeper-than-expected […]

Continue reading…

SEC will allow enforcement staff go launch investigations allowing for subpoenas to companies for records or testimony

The Securities and Exchange Commission will give more power to its enforcement staff to launch investigations, an early sign that it plans to become more assertive under the Biden administration. This change allows more enforcement supervisors to authorize investigations, permitting about 36 senior officials at the agency to subpoena companies and individuals for records or […]

Continue reading…

SEC charges AT&T and 3 execs with giving certain Wall street analysts access to nonpublic info without sharing it widely

AT&T and three of its executives have been charged by the SEC with selectively giving some Wall Street analysts access to nonpublic information without sharing it widely. The SEC said that internal documents showed that data was generally considered material to investors and cannot be selectively disclosed under the Fair Disclosure Regulation (Regulation FD). That […]

Continue reading…

SEC investigating SolarWinds over sale of $315 million shares days before Cyberattack was revealed to public

IT Management Software company SolarWinds, whose software was breached in a Russian cyberattack, said in an SEC filing that it is cooperating with an inquiry from the Securities and Exchange Commission. The SEC probe, which had not been disclosed previously, comes after the largest investors in SolarWinds sold $315 million in shares of the company […]

Continue reading…

SEC charges ratings agency Morningstar for violating disclosure and internal controls provisions of the securities laws

ion today filed a civil action alleging that former credit ratings agency Morningstar Credit Ratings LLC  violated disclosure and internal controls provisions of the federal securities laws in rating commercial mortgage-backed securities (CMBS). Credit ratings are used by market participants to help evaluate credit risk, price certain securities, and guide the investment decisions of individuals […]

Continue reading…