Monthly Archives: November 2018

OCIE Issues Risk Alert on Cash Solicitation Rule

The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (the “OCIE”) has issued, on October 31, 2018, a Risk Alert concerning compliance with the so-called Cash Solicitation Rule (Rule 206(4)-3 under the Investment Advisers Act of 1940 (the “Advisers Act”)).  The rule requires investment advisers required to be registered under the Advisers Act… Read more »

SEC Cease and Desist Against Alleged Unlicensed Cryptocurrency Exchange

On November 8, 2018, the Securities and Exchange Commission (the “SEC”) published a press release announcing that it had settled its first cease and desist enforcement action concerning a cryptocurrency trading platform, against Zachary Coburn, the founder of EtherDelta.  The SEC has alleged that EtherDelta was an unregistered national securities exchange in that it provided a… Read more »