Tag Archives: omission

SEC Fines Yahoo! Over Breach Omission

The Securities and Exchange Commission is serious about data breaches. Which is why it fined Altaba (formerly Yahoo!) $35 million for its failure to disclose the breach for 2 years. The SEC said that Yahoo executives knew within days that … Continue reading

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Insurer Denies Crypto Exchange Claim

Scary times in crypto-currency land as a major Korean insurer has denied the claim of a Bitcoin exchange. Yapian, the parent of YouBit, a crypto-currency exchange, filed a $2.8 million claim to recover for the hack with its insurer DB … Continue reading

Posted in accredited investor, balance, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, fraud, Funding Portals, Investments, Jobs, Legislative Intent, technology | Tagged , , , , , , , , , , , , , , | Leave a comment

Crowdfunding Site Sued For Complicity In Harassment

Subscription crowdfunding portal Patreon is being sued for $20 million for failing to enforce its terms of service. George Ouzounian, whose internet name is “Maddox,” and Jane Doe, a woman thought to be his former girlfriend, claim that a former … Continue reading

Posted in accredited investor, balance, checkbook, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Film, fraud, Funding Portals, Investments, Jobs, Legislative Intent, Small Business, technology | Tagged , , , , , , , , , , , , , , , , , , | Leave a comment

SEC Charges Texas Attorney General With Fraud

The Securities and Exchange Commission alleges that the Texas Attorney General  “… raised $840,000 in investor funds for Servergy and received 100,000 shares of stock in return, but never disclosed his commissions to prospective investors while recruiting them.” Further, the … Continue reading

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Other Disclosure Worries

Aside from the fact that your disclosure to potential investors cannot be false or misleading, issuers must also realize that, when advertising their offering under the new Regulation D rules, their ads cannot suggest that their products or services can … Continue reading

Posted in Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Film, FINRA, Funding Portals, Investments, Jobs, Legislative Intent, SEC, Small Business, Venture Capital | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Bad Actor Interps

The SEC is trickling out some interpretations on the Rule 506(d) “bad actor” disqualification. A couple of recent ones included:  All persons who have been or will be paid, directly or indirectly,remuneration for the solicitation of investors, including marketing personnel … Continue reading

Posted in Broker dealers, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Film, FINRA, Funding Portals, Investments, Legislative Intent, SEC, Wall Street | Tagged , , , , , , , , , , , , , , , , , , | Leave a comment

You Promised!

Will an investor have recourse if a crowd funded company fails to perform as promised (and there’s no fraud)? Kickstarter’s policy is that if a creator can’t fulfill its project, it  should find a resolution, which could include offering refunds, … Continue reading

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