Topic: US Securities and Exchange Commission
Bullish’s opening day hailed as milestone for Cayman tech sector
Bullish, the digital asset institutional platform headquartered in Cayman, made a strong debut on the New York Stock Exchange on Wednesday.
SEC fines Nexo US$22.5 million
The US Securities and Exchange Commission has charged Nexo Capital Inc. with failing to register the offer and sale of its retail crypto asset lending product, the Earn Interest Product (EIP).
Sparkster to pay $35 million in SEC settlement of unregistered crypto asset offering
Cayman-registered Sparkster Ltd has agreed to pay $35 million to settle charges brought by the US Securities and Exchange Commission over the software company’s 2018 crypto token offering.
US charges Infinity Q founder with billion-dollar valuation fraud
The US has criminally charged investment adviser James Velissaris with securities fraud and obstruction of justice over inflating the values of a mutual fund and a hedge fund he ran and devising a scheme to lie to investors and falsify documents.
SEC charges another Cayman ICO issuer
The SEC has charged Australian Craig Sproule and his companies Crowd Machine, Inc. and Metavine, Inc. for making materially false and misleading statements in connection with an unregistered offer and sale of digital asset securities.
SEC sues Rivetz over Cayman-based US$18 million token sale
The SEC has charged Rivetz Corp, its Cayman special economic zone subsidiary and the companies’ CEO with conducting an illegal, unregistered offering of securities through an initial coin offering.
Operators of Cayman blockchain company settle SEC fraud charges
Two Florida men closed down their Cayman Islands blockchain company and paid about US$13 million to settle charges brought by the US Securities and Exchange Commission.
SEC obtains freezing order against Cayman fund
The US Securities and Exchange Commission has filed an emergency action charging a Cayman fund and two individuals with defrauding investors.
SEC fines fund administrator
The US Securities and Exchange Commission has ordered Northern Trust Hedge Fund Services LLC and its Cayman fund administration subsidiary Northern Trust Global Fund Services Cayman Limited to pay US$167,629 for regulatory breaches in their role as the administrators for the LR Global Frontier master and feeder funds from January 2016 to August 2017.
C&W parent completes Caribbean split-off
Cable & Wireless parent company Liberty Global announced last week that it has completed the separation of its Latin American and Caribbean businesses – including the Cayman branch of Flow – into a separate entity called Liberty Latin America.
Liberty Global to split off Caribbean operations
Liberty Global, the parent company of Flow and Cable & Wireless, plans on separating its Caribbean and Latin American businesses into a separate corporate entity by the end of the year, the telecommunications company announced in recent U.S. Securities and Exchange Commission filings.
US court issues final judgment against co-defendants in Caledonian case
Nine months after the U.S. Securities and Exchange Commission negotiated a settlement with the liquidators of failed Caymanian bank Caledonian, a U.S. court has issued default judgments against the other defendants in the case.
Greenlight giving red light to Tesla
Cayman resident Mark Hennings hit the accelerator on his Tesla Model S, rocketing it silently through the underpass on the Esterley Tibbetts Highway. “It’s just a joy to drive.” he said as the electric car glided through the tunnel. “It makes you feel like Superman.”
Tied to scandal, reinsurer placed under controllership
Accountants from Deloitte have been appointed by the Cayman Islands Monetary Authority to control the affairs of Beechwood Re, a Cayman-based reinsurance firm being sued for fraud in the U.S., and with ties to a hedge fund whose former executives are facing civil and criminal fraud charges in the U.S.
The innovation destroyers
Because the SEC has made it so costly, time consuming, and restrictive for entrepreneurs to issue stock, they, of course, try to find other ways to raise capital.
Madoff whistleblower: Audit system should be ‘blown apart’
Harry Markopolos, the man who uncovered Bernard Madoff’s Ponzi scheme, has slammed the current system of company audits and due diligence as ineffective in detecting fraud and called for its complete overhaul at the Cayman Investment Forum organized by the CFA Society on Oct. 13.
Litigation: Skype messages show Caledonian’s trading activity in penny stock frauds
Documents submitted by the U.S. Securities and Exchange Commission to a U.S. court in February have shed new light on the involvement of Caledonian executives and clients in trading securities used in four penny stock manipulation fraud schemes.
Caledonian owner wants court permission to seek SEC damages
The owner of Caledonian Bank and Caledonian Securities has filed a motion to intervene in the settlement proposed by the U.S. Securities and Exchange Commission and Caledonian’s liquidators.
