Articles about sec

Snake oil salesman

Real fake scam offers crypto-coin to replace frequent flier points

The United States Securities and Exchange Commission’s (SEC’s) ongoing efforts to crimp dodgy cryptocurrency dealings has seen it create a fake initial coin offering that, ironically, lures the credulous with an offer to replace one weird pseudo-currency – loyalty scheme points – with cryptocurrency. howeycoins.com claims to …
Simon Sharwood, 17 May 2018
John McAfee with gun

John McAfee ‘goes underground’ in motorcade to flee SEC

Security personality John McAfee has “gone underground” in a convoy of armored cars escorted by people claimed to be former members of the military, to escape what he says is persecution by America's financial watchdog – the Securities and Exchange Commission (SEC) McAfee has released a series of videos explaining that he’s …
Simon Sharwood, 16 May 2018
Data breach

Equifax reveals full horror of that monstrous cyber-heist of its servers

Equifax has published yet more details on the personal records and sensitive information stolen by miscreants after they hacked its databases in 2017. The good news: the number of individuals affected by the network intrusion hasn't increased from the 146.6 million Equifax previously announced, but extra types of records …
Facebook

Facebook confesses: Buckle up, there's plenty more privacy lapses where that came from

Facebook has confirmed what many of us have known for years: Cambridge Analytica was far from the only organization engaging in the wholesale hoarding of netizens' personal data via the social network. The Silicon Valley giant told America's financial watchdog, the SEC, on Thursday that it will probably reveal additional data- …
Shaun Nichols, 27 Apr 2018

Yahoo! fined! $35m! for! covering! up! massive! IT! security! screwup!

The Disaster Formerly Known as Yahoo! has been fined $35m by US financial watchdog, the SEC, for failing to tell anyone about one of the world's largest ever computer security breaches. Now known as Altaba following its long, slow and painful descent in irrelevance, Yahoo! knew that its entire user database – including …
Kieren McCarthy, 24 Apr 2018
This is the blockchain. Yes, THE blockchain

US watchdog reckons blockchain bods Longfin were wrongfin, maybe this is their swansongfin

US financial watchdog the SEC has frozen $27m in what it believes are ill-gotten gains generated by a shady cryptocurrency deal. The regulator has accused blockchain tech upstart Longfin Corp and four of its officers of awarding and then selling unregistered shares for their own gain. The group is accused of violating the US …
Shaun Nichols, 6 Apr 2018

Students: Duh, of course we're blowing our loan bucks on crypto coins

University students are opting to use their student loan money to invest in cryptocurrency, rather than school. This according to a survey this month from the Student Loan Report, which asked 1,000 college students in America if they had used their loan money to buy cryptocurrency, only to have 212 confirm. In other words, …
Shaun Nichols, 26 Mar 2018

Bad blood: Theranos CEO charged with massive fraud

The woman heralded as "the next Steve Jobs" has been charged with massive fraud, forced to pay a $500,000 fine and been stripped of control of the company she founded. Theranos CEO Elizabeth Holmes was once pictured on the front pages of numerous tech and business magazines as a future leader in the industry. At one point was …
Kieren McCarthy, 14 Mar 2018

Stock trader gets two years in prison for pumping up with Fitbit

A US stock trader has been sentenced to two years in prison for running a pump and dump operation involving wearables vendor Fitbit, albeit one that earned him only a few thousand dollars. Robert Walter Murray was given the federal prison term after pleading guilty to one count of securities fraud. He had faced a maximum of 20 …
Shaun Nichols, 12 Mar 2018
Bitcoin punch cards

US authorities call on cryptocoin 'exchanges' to sign up for regulation

The United States' Securities and Exchange Commission (SEC) has again warned investors to be ever-so-careful when considering cryptocurrencies, because so-called “exchanges” for the assets fit all the definitions of a subject—to-regulation exchange other than having signed up for that regulation. In a March 7th public …

US watchdog just gave up trying to get Google to explain YouTube's huge financial figures

In a series of alternatively baffling, amusing and darn-right ridiculous letters, Google-parent Alphabet has told America's financial watchdog to effectively mind its own business when it comes to its income. On Monday, the Securities and Exchange Commission (SEC) published six months' worth of correspondence between its staff …
Kieren McCarthy, 28 Feb 2018

Hey, look who's rushing to weigh in on crypto-coins. Hello, United Nations and European Commission!

Following a warning from America's financial regulator, the European Commission and the United Nations have weighed in on the issue of crypto currencies. This week, chairman of the US Securities and Exchange Commission Jay Clayton warned companies thinking of adding “blockchain” to their names that his agency is watching them …
Kieren McCarthy, 23 Jan 2018

Stripe in Bitcoin hype flight while fans blindly gobble up crypto-cash

Roundup Payment biz Stripe on Tuesday said it plans to phase out support for Bitcoin payments – citing declining interest among merchants and rising transactions times and fees. "[W]e've seen the desire from our customers to accept Bitcoin decrease," said Stripe product manager Tom Karlo. "And of the businesses that are accepting …
Thomas Claburn, 23 Jan 2018
storm_warning_648

Blockheads changing company names to surf crypto wave get a warning from the SEC

The chairman of the United States’ Securities and Exchange Commission has again taken aim at cryptocurrency speculators, this time warning companies thinking of adding “Blockchain” to their names that his agency is watching them. Closely. In remarks delivered at the Securities Regulation Institute, SEC Chair Jay Clayton said “ …
Simon Sharwood, 23 Jan 2018

Cyber-coin crackdown continues: Commission charges couple crypto-currency company chiefs concerning 'conned' customers

The US Commodity Futures Trading Commission (CFTC) is the latest financial watchdog to haul into court companies in the virtual currency space. On Friday, the CFTC, which oversees the derivatives markets in America, announced a pair of civil lawsuits against businesses it claims defrauded customers out of their hard-earned …
Shaun Nichols, 20 Jan 2018
Dodgeball's 'Bold Strategy' scene

Good lord, Kodak's stock is up 120 per cent. How? New film? Oh. It launched a crypto-coin

Camera film relic Kodak is trying to reinvent itself in the most 2018 way possible: by launching its own cryptocurrency. The imaging company says its new make-believe money, named KODAKCoin, will be pitched as a way for photographers to issue and collect royalty payments. The idea is that shutterbugs will use the KodakOne …
Shaun Nichols, 9 Jan 2018
Pile of coins toppled

SEC sends ICO for restaurant app Munchee back to the kitchen

The US Securities and Exchange Commission has intervened to stop an initial coin offering (ICO) that attempted to raise US$15m for a restaurant review app named "Munchee". The regulator served Munchee Inc. with a cease and desist order [PDF] to halt the offering on grounds it was an unregistered security. Munchee tried to …
Shaun Nichols, 13 Dec 2017

Seagate: Happy Xmas, staff – thanks for everyth... um, you 500. Can we have a word?

Seagate has said it will reduce its global headcount by 500 staffers, not long after its CEO praised all of its employees for continually going "above and beyond". In a statement filed with the SEC – America's financial watchdog – yesterday afternoon, Seagate said it has "committed to an additional restructuring plan to reduce …
Chris Mellor, 12 Dec 2017

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