The US Securities and Exchange Commission (SEC
Securities and Exchange Commission (SEC)
The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.What Does the SEC Do?In order to achieve its obligations, the SEC enforces statutory requirements that public companies and other regulated companies submit quarterly and annual reports.Such reports are instrumental in unearthing or bringing to light any market abuse or improper action, ensuring a high degree of compliance out of market participants.These reports are also essential in maintaining the transparency of equity markets, namely private companies.Quarterly and semiannual reports from public companies are important for investors to make sound decisions when investing in the capital markets. Investment in the capital markets is not guaranteed by the federal government with such safeguards put in place to add a layer of compliance for example.The SEC is composed of five divisions: Corporate Finance, Trading and Markets, Investment Management, Enforcement, and Economic and Risk Analysis.With 11 regional offices in the US, the SEC helps police markets nationwide. In recent years the agency has also relied on additional forces for assistance as well, with the installment of the SEC Office of the Whistleblower.Founded in 2010, the SEC Whistleblower program has since awarded over $400 million to whistleblowers.
The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.What Does the SEC Do?In order to achieve its obligations, the SEC enforces statutory requirements that public companies and other regulated companies submit quarterly and annual reports.Such reports are instrumental in unearthing or bringing to light any market abuse or improper action, ensuring a high degree of compliance out of market participants.These reports are also essential in maintaining the transparency of equity markets, namely private companies.Quarterly and semiannual reports from public companies are important for investors to make sound decisions when investing in the capital markets. Investment in the capital markets is not guaranteed by the federal government with such safeguards put in place to add a layer of compliance for example.The SEC is composed of five divisions: Corporate Finance, Trading and Markets, Investment Management, Enforcement, and Economic and Risk Analysis.With 11 regional offices in the US, the SEC helps police markets nationwide. In recent years the agency has also relied on additional forces for assistance as well, with the installment of the SEC Office of the Whistleblower.Founded in 2010, the SEC Whistleblower program has since awarded over $400 million to whistleblowers.
Read this Term) on Wednesday brought charges against Neil Chandran for creating and running CoinDeal, a fraudulent investment scheme that raised $45 million by selling unregistered securities.
AloGatewayis a Global payment processing service and solutions provider able to cater to a multitude of clients ranging from small family-owned businesses to large corporations.
Interestingly, there is a St. Vincent and Grenadines-based crypto exchange named CoinDeal, which is headed by Adam Bicz and Kajetan Maćkowiak. Despite the same names, the crypto exchange and the fraudulent scheme do not have any connection.In addition, the regulatory complaint named four other individuals and three entities: Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo, LLC for their involvement with the fraudulent scheme.The SEC charged Chandran, Davidson, Glaspie, Knott, Banner Co-Op, and BannersGo for violating the antifraud and registration provisions, while Davidson, Glaspie, Knott, Banner Co-Op, and BannersGo are facing additional charges of aiding and abetting Chandran in certain violations. Further, Mossel and AEO Publishing are facing additional ‘aiding and abetting’ charges for Glaspie’s violations.Keep Reading Chandran, the mastermind behind the CoinDeal fraud, was first indicted by the US prosecutor last June on three counts of wire fraud and two counts of monetary transaction in unlawful proceeds.Check out the recent London Summit session on “Digital Assets’ Marketing Under A Magnifying Glass.” CoinDeal Promoters Pulled Off a Major FraudAccording to the official complaint filed in the District Court for the Eastern District of Michigan, the five individuals, including Chandran, trapped “tens of thousands of investors” globally. They falsely promised “extravagant returns” by investing in CoinDeal, a blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Read this Term technology “that would be sold for trillions of dollars to a group of prominent and wealthy buyers.””We allege the defendants falsely claimed access to valuable blockchain technology and that the imminent sale of the technology would generate investment returns of more than 500,000 times for investors,” said Daniel Gregus, SEC’s Chicago Regional Office Director.The five individual alleged perpetrators “allegedly disseminated false and misleading statements to investors” for four years, from January 2019 to 2022, regarding CoinDeal’s value, its supposed sale, and utilization of the investment proceeds. However, there CoinDeal was never sold, and the investors did not receive any distribution of profits.Moreover, the regulator alleged that the defendants in the complaint misappropriated millions of dollars in investors’ funds. In particular, Chandran was accused of using investors’ funds to purchase cars, real estate, and a boat.The securities market regulator is now seeking recovery of the investors’ funds and intends to fine the involved perpetrators.The US Securities and Exchange Commission (SEC
Securities and Exchange Commission (SEC)
The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.What Does the SEC Do?In order to achieve its obligations, the SEC enforces statutory requirements that public companies and other regulated companies submit quarterly and annual reports.Such reports are instrumental in unearthing or bringing to light any market abuse or improper action, ensuring a high degree of compliance out of market participants.These reports are also essential in maintaining the transparency of equity markets, namely private companies.Quarterly and semiannual reports from public companies are important for investors to make sound decisions when investing in the capital markets. Investment in the capital markets is not guaranteed by the federal government with such safeguards put in place to add a layer of compliance for example.The SEC is composed of five divisions: Corporate Finance, Trading and Markets, Investment Management, Enforcement, and Economic and Risk Analysis.With 11 regional offices in the US, the SEC helps police markets nationwide. In recent years the agency has also relied on additional forces for assistance as well, with the installment of the SEC Office of the Whistleblower.Founded in 2010, the SEC Whistleblower program has since awarded over $400 million to whistleblowers.
The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.What Does the SEC Do?In order to achieve its obligations, the SEC enforces statutory requirements that public companies and other regulated companies submit quarterly and annual reports.Such reports are instrumental in unearthing or bringing to light any market abuse or improper action, ensuring a high degree of compliance out of market participants.These reports are also essential in maintaining the transparency of equity markets, namely private companies.Quarterly and semiannual reports from public companies are important for investors to make sound decisions when investing in the capital markets. Investment in the capital markets is not guaranteed by the federal government with such safeguards put in place to add a layer of compliance for example.The SEC is composed of five divisions: Corporate Finance, Trading and Markets, Investment Management, Enforcement, and Economic and Risk Analysis.With 11 regional offices in the US, the SEC helps police markets nationwide. In recent years the agency has also relied on additional forces for assistance as well, with the installment of the SEC Office of the Whistleblower.Founded in 2010, the SEC Whistleblower program has since awarded over $400 million to whistleblowers.
Read this Term) on Wednesday brought charges against Neil Chandran for creating and running CoinDeal, a fraudulent investment scheme that raised $45 million by selling unregistered securities.Interestingly, there is a St. Vincent and Grenadines-based crypto exchange named CoinDeal, which is headed by Adam Bicz and Kajetan Maćkowiak. Despite the same names, the crypto exchange and the fraudulent scheme do not have any connection.
AloGatewayis a Global payment processing service and solutions provider able to cater to a multitude of clients ranging from small family-owned businesses to large corporations.
In addition, the regulatory complaint named four other individuals and three entities: Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo, LLC for their involvement with the fraudulent scheme.The SEC charged Chandran, Davidson, Glaspie, Knott, Banner Co-Op, and BannersGo for violating the antifraud and registration provisions, while Davidson, Glaspie, Knott, Banner Co-Op, and BannersGo are facing additional charges of aiding and abetting Chandran in certain violations. Further, Mossel and AEO Publishing are facing additional ‘aiding and abetting’ charges for Glaspie’s violations.Keep Reading Chandran, the mastermind behind the CoinDeal fraud, was first indicted by the US prosecutor last June on three counts of wire fraud and two counts of monetary transaction in unlawful proceeds.Check out the recent London Summit session on “Digital Assets’ Marketing Under A Magnifying Glass.” CoinDeal Promoters Pulled Off a Major FraudAccording to the official complaint filed in the District Court for the Eastern District of Michigan, the five individuals, including Chandran, trapped “tens of thousands of investors” globally. They falsely promised “extravagant returns” by investing in CoinDeal, a blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Read this Term technology “that would be sold for trillions of dollars to a group of prominent and wealthy buyers.””We allege the defendants falsely claimed access to valuable blockchain technology and that the imminent sale of the technology would generate investment returns of more than 500,000 times for investors,” said Daniel Gregus, SEC’s Chicago Regional Office Director.The five individual alleged perpetrators “allegedly disseminated false and misleading statements to investors” for four years, from January 2019 to 2022, regarding CoinDeal’s value, its supposed sale, and utilization of the investment proceeds. However, there CoinDeal was never sold, and the investors did not receive any distribution of profits.Moreover, the regulator alleged that the defendants in the complaint misappropriated millions of dollars in investors’ funds. In particular, Chandran was accused of using investors’ funds to purchase cars, real estate, and a boat.The securities market regulator is now seeking recovery of the investors’ funds and intends to fine the involved perpetrators.