The SEC reports that charges have been settled against CarrierEQ Inc., the privately held, Boston-based startup that does business as Airfox, and Paragon Coin Inc., an online financial entity formed in mid-2017 and headed by a former Miss Iowa beauty queen. Paragon proposed to “add blockchain technology to the cannabis industry and work toward legalization… Read More >>
SEC Slams NYSE with Multiple Regulatory Violations
The SEC reports that it has charged the New York Stock Exchange (NYSE) and two affiliated exchanges (NYSE American and NYSE Arca) with “regulatory failures in connection with multiple episodes, including several disruptive market events.” The violations alleged by NYSE officials include “erroneously implementing a market-wide regulatory halt, negligently misrepresenting stock prices as ‘automated’ despite… Read More >>
Bitcoin Rollercoaster Becomes a Ride Most Avoid for Now
The bitcoin cryptocurrency rollercoaster is roaring ahead as regulators come to grips with instruments based upon it, some trading venues advance instruments as other venues move into limbo, and the price of the virtual currency is under constant scrutiny. The only thing more erratic than bitcoin’s rise and fall and rise was the brinksmanship around… Read More >>
SEC’s Clayton Clarifies Leadership for Enforcement
The SEC reports that Stephanie Avakian, acting director of the division of enforcement, and Steven Peikin, managing partner of Sullivan & Cromwell’s criminal defense and investigations group, have been named co-directors of the division of enforcement, the commission’s largest unit with more than 1,200 employees. Avakian will continue to work out of the SEC’s Washington,… Read More >>
