Securities Law

SEC Adopts Rules to Prevent Fraud in Connection with Security-Based Swaps Transactions and Prevent Undue Influence over CCOs

June 7, 2023

The Securities and Exchange Commission today adopted rules to prevent fraud, manipulation, and deception in connection with security-based swap transactions and to prevent undue influence over the chief compliance officer (CCO) of security-based swap… Full report at: Read More

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SEC Charges Coinbase for Operating as an Unregistered Securities Exchange, Broker, and Clearing Agency

June 6, 2023

The Securities and Exchange Commission today charged Coinbase, Inc. with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. The SEC also charged Coinbase for failing to register the… Full report at: Read More

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SEC Files 13 Charges Against Binance Entities and Founder Changpeng Zhao

June 5, 2023

The Securities and Exchange Commission today charged Binance Holdings Ltd. (“Binance”), which operates the largest crypto asset trading platform in the world, Binance.com; U.S.-based affiliate, BAM Trading Services Inc. (“BAM Trading”), which, together… Full report at: Read More

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Small Business Advisory Committee June Meeting to Focus on Capital Raising and Reducing Funding Gaps for Underrepresented Founders

June 2, 2023

The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee today released the agenda for its meeting on Wednesday, June 14. The Committee will start the morning session by hearing from its members about marketplace… Full report at: Read More

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Former Wells Fargo Senior Executive Carrie Tolstedt Agrees to Settle SEC Fraud Charges for Misleading Investors About Abusive Sales Practices to Inflate a Key Performance Metric

May 30, 2023

The Securities and Exchange Commission today announced its settlement with the former head of Wells Fargo & Co.’s Community Bank, Carrie L. Tolstedt, in which she has agreed to pay a $3 million penalty stemming from charges brought in 2020 for her… Full report at: Read More

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Former Coinbase Manager and His Brother Agree to Settle Insider Trading Charges Relating to Crypto Asset Securities

May 30, 2023

The Securities and Exchange Commission today announced that former Coinbase product manager Ishan Wahi and his brother, Nikhil Wahi, agreed to settle charges that they engaged in insider trading through a scheme to trade ahead of multiple announcements… Full report at: Read More

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SEC Shuts Down WeedGenics $60 Million Cannabis Offering Fraud

May 23, 2023

The Securities and Exchange Commission obtained an emergency order to halt an alleged ongoing offering fraud and Ponzi-like scheme by Integrated National Resources Inc. (INR), which does business as WeedGenics, and its owners, Rolf Max Hirschmann and… Full report at: Read More

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Mellissa Campbell Duru Named Division of Corporation Finance’s Deputy Director for Legal and Regulatory Policy

May 19, 2023

The Securities and Exchange Commission today announced that Mellissa Campbell Duru has been named Deputy Director for Legal and Regulatory Policy in the Division of Corporation Finance. Ms. Duru most recently was a Special Counsel at Covington &… Full report at: Read More

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SEC Proposes Rule Amendments and New Rule to Improve Risk Management and Resilience of Covered Clearing Agencies

May 17, 2023

The Securities and Exchange Commission today proposed rule changes that would improve the resilience and recovery and wind-down planning of covered clearing agencies. The proposal would amend the existing rules regarding intraday margin and the use of… Full report at: Read More

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SEC Charges 10 Microcap Companies with Securities Offering Registration Violations

May 16, 2023

The Securities and Exchange Commission today announced charges against 10 microcap companies for offering and selling securities in unregistered offerings that failed to comply with Regulation A, which provides a limited exemption from registration under… Full report at: Read More

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