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Entries tagged “SEC”

The Exempt Offering Ecosystem: What the SEC Changed

Insight Dror Futter Dror Futter · November 11, 2020
The SEC announced a series of amendments (likely to be effective early next year) to the rules governing private offering exemptions – by far the most frequent path for venture fundraising. The amendments retain the same “menu” of exemptions but make incremental improvements. For the early-stage community, the

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Let the Fundraising Begin:  SEC Harmonizes and Improves its Exempt Offering Framework

Insight Debbie A. Klis Debbie A. Klis · November 06, 2020
On November 2, 2020, the Securities and Exchange Commission (“SEC”) voted to amend and simplify its rules governing private-offering exemptions under the Securities Act of 1933 (the “Securities Act”) to promote capital formation (the “Amendments”).[1]  The SEC release included discussion of their intent to

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Finding Your Fortune - SEC’s Proposal To Allow Non-Registered Finders

Insight Carl Sherer Carl Sherer · November 02, 2020
The US Securities and Exchange Commission proposes to establish a new limited and conditional exemption from the broker registration requirements for natural persons engaging in certain limited capital-raising activities on behalf of issuers seeking to raise funds from accredited investors. If adopted, the proposed exemption will

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Beware of employee equity, the credit cards of the venture community

Insight Dror Futter Dror Futter · November 04, 2019
Dror Futter focuses his practice on startup companies and their investors and has worked with a wide range of technology companies. His fifteen years’ experience as in-house counsel includes positions with Vidyo, Inc., a venture-backed videoconferencing company, and New Venture Partners, a venture fund focused on corporate

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Block.one, Creator of EOS, Settles with the SEC. Was it a Slap on the Wrist? Did EOS Get a Pass from the Feds?

Insight Dror Futter Dror Futter · October 03, 2019
The SEC recently reached a $24 million settlement with Block.one for its unregistered offering of over $4 billion worth of EOS tokens. The Crowdfunder Insider news site reached out to Rimon partner Dror Futter for comment on this unusual development. “This seems to place EOS in the same category as Ether, a token that likely was a security

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On the Second Anniversary of the DAO: The Token Universe’s Cat Food Moment

Insight Dror Futter Dror Futter · August 21, 2019
It has been two years since the SEC took its first formal action with respect to a token issuance.  Since then there has been a great deal of regulatory activity that has provided some clarity.  In this article, Rimon partner Dror Futter provides an in-depth regulatory summary of where things stand for those considering issuing a

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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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