Coinbase, the first major cryptocurrency broker to go public with an opening day valuation on the Nasdaq, is expanding its legal team, perhaps in anticipation of increased regulation by the US and other nations. It has hired Christian Sabella, who was recently acting director of the U.S. Securities and Exchange Commission’s Division...
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Category: Securities and Exchange Commission Investigations
Securities & Exchange Commission files major suit against BitConnect promoters for $2 billion digital currency offering without proper registration
The Securities and Exchange Commission filed a lawsuit Friday in federal court in Manhattan alleging that five individuals promoted a global unregistered digital asset securities offering that raised over $2 billion from retail investors.
According to the SEC's complaint, filed in the United States District Court for the Southern...
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Insider trading lawsuit being prepare against Eastman Kodak and execs
AN insider-trading lawsuit is apparently being prepared against Eastman Kodak and its top execs relating to stock buys and...
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Record number of individuals scammed by cybercriminals over sale of cryptocurrency
Scams of with fraudulent offers of cryptocurrency investments have spiked heavily according to the Federal Trade Commision. Nearly 7,000 people reported losses of more than $80 million from October through...
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Securities and Exchange Commission awards $22 million to two whistleblowers for revealing securities violations
The Securities and Exchange Commission today announced awards totaling approximately $22 million to two whistleblowers whose information and assistance were of crucial importance to successful SEC enforcement actions brought against a financial services firm.
The first whistleblower received an award of $18 million, while the second whistleblower received a $4 million award. The larger award...
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Securities and Exchange Commission charges investment advisor with defrauding sports clients for undisclosed fees and high risk investments
The Securities and Exchange Commission charged Douglas Elstun, an investment advisor serving pro athletes, with defrauding his clients with undisclosed fees and misleading them about a high-risk investment strategy. Elston operated registered investment advisor (RIA) Crossroads Financial Management and billed clients annual fees as high as 1.25% of assets under management, above the 1%...
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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 because it allegedly failed to register an offering of securities. The SEC Complaint 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...
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Study shows that only 20% of all insider trading occurences are caught in the United States
Illegal insider trading when there is buying or selling the security (stocks or bonds) by persons based on nonpublic information about the security. A recent research study shows that has find that only 20% of all illegal insider trading is caught and prosecuted. The US Securities and Exchange Commission prosecutes...
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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....
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