On March 8, 2024, the U.S. Court of Appeals for the Second Circuit reversed and remanded a District Court decision that dismissed all claims by plaintiff crypto investors against Binance, an international electronic exchange...more
3/21/2024
/ Appeals ,
Blue Sky Laws ,
Broker-Dealer ,
Class Action ,
Crypto Exchanges ,
Cryptocurrency ,
Extraterritoriality Rules ,
Foreign Jurisdictions ,
Investors ,
Securities and Exchange Commission (SEC) ,
Token Sales
On November 20, 2023, the SEC filed a complaint in the United States District Court for the Northern District of California against Payward, Inc. and Payward Ventures, Inc. which, together, do business as Kraken. The...more
11/28/2023
/ Blockchain ,
Broker-Dealer ,
CFTC ,
Clearing Agencies ,
Cryptoassets ,
Ethereum ,
Fraud ,
Howey ,
Investors ,
Market Participants ,
Negligence ,
Ripple ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Unregistered Securities
Summary of the Recent SEC Actions -
On August 8, 2023, in yet another set of enforcement actions in the space, the U.S. Securities and Exchange Commission (the “SEC”) settled charges against ten broker-dealers and a dually...more
On June 5, 2023, the SEC filed a complaint in the United States District Court for the District of Columbia against Binance, the world’s largest cryptocurrency exchange, and its founder, Changpeng Zhao, known to the world as...more
On September 27, 2022, the Securities and Exchange Commission (“Commission”) entered into a series of settled orders (“Orders”) against 15 broker-dealers and one affiliated investment adviser for widespread failures by the...more
10/4/2022
/ Broker-Dealer ,
Compliance ,
Electronic Communications ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Penalties ,
Policies and Procedures ,
Recordkeeping Requirements ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934
On June 15, 2022, the Securities and Exchange Commission (“SEC”) filed a complaint against California-based broker-dealer Western International Securities, Inc. (“Western”) alleging violations of Regulation Best Interest...more
6/29/2022
/ Best Interest Standard ,
Broker-Dealer ,
Enforcement Actions ,
Fiduciary Duty ,
Financial Services Industry ,
Investment ,
Investment Adviser ,
Investment Management ,
Regulation Best Interest ,
Regulation BI ,
Retail Installment Sales Contracts ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Transactions ,
Securities Violations ,
Standard of Conduct