Articles about sec

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
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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
Bitcoin, photo via Shutterstock

US authorities issue strongly worded warnings about crypto-investments

The chair of the United States Securities and Exchange Commission (SEC) has issued a strongly worded Statement on Cryptocurrencies and Initial Coin Offerings that recommends extreme caution for anyone contemplating any kind of involvement in such investments. The main thrust of Chairman Jay Clayton's words urged individual …
Simon Sharwood, 12 Dec 2017
A businessman in handcuffs

SEC's cyber-cops cyber-file cyber-first cyber-fraud cyber-charges

The SEC's new online crime unit says it has frozen what officials believe to be a fraudulent cryptocurrency. The US securities watchdog claims Canada-based PlexCorps and its owners, Dominic Lacroix and Sabrina Paradis-Royer, are violating anti-fraud statutes by promising US investors impossible returns on investments in their …
Shaun Nichols, 5 Dec 2017
Paris Hilton DJs .  Editorial credit: ANDREA DELBO / Shutterstock.com

Beware Paris Hilton's investment advice, SEC tells investors

The United States' Securities and Exchange Commission (SEC) has warned investors that celebrities may not understand that their endorsements of initial coin offerings are in breach of the law. The financial watchdog has issued advice in which it warns that “Investors should note that celebrity endorsements may appear unbiased …
Paying a court fine

Healthcare insurance cheat-bot bros Zenefits cough up $1m to make SEC probe go away

America's financial watchdog will extract $1m from controversial insurance reseller Zenefits and its former CEO to settle claims they lied to investors. The SEC said ex-boss Parker Conrad and the biz he founded Zenefits have agreed to shell out the dosh to end an investigation into whether they misled shareholders about the …
Shaun Nichols, 27 Oct 2017
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SanDisk man tipped off his family to Fusion-io fusion, bagged $220k in share snatch – says SEC

An ex-SanDisk manager and his family have been accused in the US of insider trading after profiting from the biz's acquisition of Fusion-io. America's financial watchdog the SEC alleged [PDF] that, while working for SanDisk, Anand Jayapalan tipped off three members of his family to the deal to make a quick profit on Fusion-io …
Shaun Nichols, 1 Oct 2017
Stock traders

SEC 'fesses to security breach, says swiped info likely used for dodgy stock-market trading

The US Securities and Exchange Commission (SEC) has admitted that hackers broke into its corporate filling system last year. As-yet unidentified miscreants may have profited from financial tip-offs and other data obtained after hacking into its online EDGAR filing system, the US government's financial trading watchdog admitted …
John Leyden, 21 Sep 2017

US watchdog alert: Don't fall victim to crapto crypto-coin cons, people

America's financial regulator has warned investors to steer clear of shady alt-coin investment schemes. The SEC says that, following a rash of suspended initial coin offerings, people should take a closer look at the money-raising campaigns before parting with their money. Initial coin offerings are like business IPOs: when a …
Shaun Nichols, 29 Aug 2017
manager

Bank IT fella accused of masterminding multimillion-dollar insider-trading scam

A banking IT expert orchestrated an insider-trading caper that raked in millions of dollars for him and his pals, it was claimed on Wednesday. Between August 2013 and April 2017, Daniel Rivas, 32, worked for an unnamed New York bank in its capital markets technology division. He was hired as a consultant for a new banking …
Iain Thomson, 17 Aug 2017
stock trader image

Top tip for all you insider traders: Don't Google 'insider trading' from your work PC

An MIT postdoctoral staffer was arrested and charged with insider trading after he allegedly searched online for tips on committing the crime. Fei Yan, of Cambridge, Massachusetts, is accused of securities and wire fraud: he allegedly used information from his wife's law practice to make favorable stock trades that netted more …
Shaun Nichols, 14 Jul 2017
A man diving from a cliff

Brickbat unwraps in lap of crap Snapchat yap app technocrat brats after stock splat mishap

Snap Inc is being sued by its shareholders who claim that executives misled investors about the value of SnapChat app maker ahead of its IPO earlier this year. The lawsuit [PDF], filed this month in the California Central US District Court, accuses Snap, CEO Evan Spiegel and CFO Drew Vollero of violating US securities laws. …
Shaun Nichols, 12 Jul 2017
fraud

Wow, someone managed to make money on Fitbit stock – oh, 'fraudulently'

While Fitbit investors may be weeping over the wearable upstart's slumped share price, at least one person made out like a bandit on the stock, allegedly. On Friday, America's financial watchdog, the SEC, filed fraud charges against Robert Murray, of Virginia, accusing him of ramping up Fitbit's stock price temporarily via …
Iain Thomson, 19 May 2017

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