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Entries tagged “SEC”

Rimon’s Dror Futter Contributes to Blockchain for Enterprise Book

Insight Dror Futter Dror Futter · September 05, 2018
Rimon Fintech Partner Dror Futter was acknowledged by Manav Gupta, Director & Distinguished Engineer, Cloud Native Competency at IBM, for his contributions to the legal sections of Mr. Gupta’s recently published book: “Blockchain for the Enterprise: The Definitive Guide to Adoption of Blockchain in the Enterprise.” In

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ICO Tokens & the SEC: You Can’t Even Give Them Away …. No, Seriously

Insight Dror Futter Dror Futter · August 21, 2018
The SEC has issued a Cease & Desist Order and sanctions against a token issuer and its founder.  Among several findings, the SEC determined that the “Bounty Program” run by the issuer constituted a securities offering.  The Order states “a ‘gift’ of a security is a ‘sale’ within the

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ICOs: “One Giant Leap for the SEC?”

Insight Dror Futter Dror Futter · June 19, 2018
William Hinman, Director of the SEC’s Division of Corporate Finance, announced last week that Ether was not a security.  He also provided the broadest look yet as to how the SEC analyzes ICOs. FinTech Partner, Dror Futter analyzes what it all means in the article below. Read the full article here. In addition to a

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SEC Chairman Calls Out ICO Lawyers in January 22 Remarks

Insight Dror Futter Dror Futter · January 24, 2018
"If You Can’t Hear Me, I’ll Speak a Little Louder!” - SEC Chairman Clayton followed up critical remarks on ICO market advisors in December with new, blunt criticisms of many ICO attorneys. Read the full story and insights here.   Mr. Futter has more than 20 years of high tech and business experience. He

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It’s Not Just the SEC - Massachusetts Regulators Sue Resident Who Launched ICO

Insight Dror Futter Dror Futter · January 23, 2018
ICO legal risks may begin but do not end with the SEC, as a Massachusetts-based ICO issuer learned when state regulators sued him for his role in an unregistered ICO. Read the full article here   Mr. Futter has more than 20 years of high tech and business experience. He represents emerging companies and their investors, as well as a

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SEC’s Latest on ICOs: If it Walks Like a Duck and Squawks Like a Duck, It’s a Security

Insight Dror Futter Dror Futter · December 11, 2017
In a powerful one-two punch on Monday, the SEC published a cease and desist order shutting down an ICO for the MUN utility token and a highly critical statement by SEC's Chairman, Jay Clayton, entitled “Statement on Cryptocurrencies and Initial Coin Offerings”.  Rimon partner Dror Futter analyzes the impact of these

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“We Never Thought of That” — When Venture-Backed Companies Undertake Reverse ICOs. Rimon’s Dror Futter writes in BitcoinMagazine

Insight Dror Futter Dror Futter · November 27, 2017
ICOs are not limited to new companies. Companies that have previously raised venture funding can do them as well — a phenomenon some have termed “Reverse ICOs.”   The standard deal documents of the venture industry (SAFEs, Convertible Notes, Series Seed and NVCA Series A) never contemplated Reverse ICOs. 

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Spoiler Alert:  ICOs – The “Good Times” May Be Ending

Insight Dror Futter Dror Futter · November 16, 2017
Two recent events suggest that the “Wild West Period” for ICOs may be drawing to a close. Recent statements by SEC Chairman, Jay Clayton, strongly suggest more SEC action to come and the first class-action suit related to an ICO has been filed. Click here to read Dror Futter's analysis. Mr. Futter has more than 20 years of

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ICOs, Cryptocurrencies and Tokens – the SEC Speaks

Insight Dror Futter Dror Futter · August 04, 2017
The SEC has issued its first, much anticipated statement on the regulatory status of ICOs (Initial Coin Offerings).   Click here to read our analysis of the questions the SEC answered and, perhaps more importantly, the questions that remain unresolved. Mr. Futter has more than 20 years of high tech and business experience. He

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Client Alert: Confidentiality Clauses Can Cost You: SEC Issuing Fines for Inconsistency with Dodd-Frank Whistle Blower Protection Rules

Insight November 14, 2016
Recent SEC enforcements mean it’s time to reconsider the risks of including overbroad confidentiality clauses in employment agreements and other business documents of registrants (e.g., public companies, mutual funds, investment advisors, transfer agencies and broker dealers).  The 2010 Dodd-Frank Wall Street Reform and Consumer

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