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

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…

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SEC Files 13 Charges Against Binance Entities and Founder Changpeng Zhao

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…

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

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…

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

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…

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

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…

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SEC Shuts Down WeedGenics $60 Million Cannabis Offering Fraud

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…

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

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 &…

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

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…

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SEC Charges 10 Microcap Companies with Securities Offering Registration Violations

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…

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SEC Charges Red Rock Secured, Three Executives in Fraud Scheme Targeting Retirement Accounts

The Securities and Exchange Commission today announced charges against El Segundo, California-based Red Rock Secured LLC, its CEO, Sean Kelly, and two of its former Senior Account Executives, Anthony Spencer and Jeffrey Ward, in connection with a…

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