Tag Archives: SEC

First judicial finding that digital tokens are securities

A magistrate judge in Florida issued a report in a class action lawsuit – Rensel v. Centra Tech, Inc. – finding that tokens issued and sold by tech startup Centra Tech were investment contracts. While the report and its recommendations are not final until approved by a district court judge, it appears to be the first judicial … Continue Reading

The rise of tokens: critical considerations for VC firms

Our colleagues Jennifer Kristen Lee, Louis Lehot and Mark Radcliffe share considerations for VC investors using ICOs to finance their portfolio companies with Venture Capital Journal. Among the critical issues discussed are hybrid token offering approval, application of blockchain technology to portfolio companies, terms of the hybrid token offering, the identity of the issuer and tokenomics. … Continue Reading

SEC advises companies to publicly disclose cybersecurity risks and prohibit insider trading around cybersecurity incidents: action steps for public companies

On February 21, 2018, the SEC issued new guidance on whether public companies need to provide public disclosure of a “material” cybersecurity risk or event.  Although the guidance is nonbinding, it is instructive in understanding how the Commission may interpret alleged cybersecurity lapses, particularly with regard to enforcement actions in exercising its civil jurisdiction over public … Continue Reading

The Financial Report

In the latest issue of DLA Piper’s Financial Report Series, which offers financial news from the Americas, Asia Pacific and Europe, our colleagues discuss and analyze: News from the Americas US Securities and Exchange Commission Developments US Commodity Futures Trading Commission Developments US Banking and Treasury Department Developments US Exchanges and Self-Regulatory Organizations News from … Continue Reading
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