Month: October 2021

Warren Law Group

SEC Cracking Down on Crypto Innovators

By Christopher D. Warren / October 28, 2021
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Earlier this week, the owner of Terraform, Singaporean crypto innovator and inventor of the “mirror protocol,” was handed subpoenas by the SEC while he was visiting New York. In reaction to this, he is suing the SEC. SEC Commissioner Gary Gensler has a strict stance on the regulation of the crypto market despite the unclear…

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Warren Law Group

Facebook 3Q Press Release Neglects Market Realities

By Christopher D. Warren / October 26, 2021
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Facebook has been under public scrutiny for various issues related to its morals and ethics, causing its stock to drop hundreds of billions in market value. On October 25th, Facebook released its third-quarter press release and specifically mentioned various uncertainties that may contribute to a decline in its revenue, such as new Apple software updates and the pandemic.…

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Warren Law Group

Convertible Note Market Risk and Misrepresentation

By Christopher D. Warren / October 21, 2021
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Last week, the New York Court of Appeals opined to The US Second Circuit that the convertible note with the 35 percent discount from a publicly traded stock violates the criminal usuary (loansharking) statute. In this case, a private firm entered into a convertible note with a publicly traded company that had an interest component…

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Warren Law Group

Filing Requirements for Certain Electronic Communications

By Jon-Jorge Aras / October 20, 2021
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Social media channels are an effective and interactive medium for sales professionals in all industries to communicate with their customers. Recently, securities brokers have been increasing their social media usage as a tool to directly interact with their clients due to its accessibility and wide outreach. The SEC and FINRA, seeing this trend among broker-dealers…

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Warren Law Group

The SEC Enforcement of FinCEN Regulations, Bank Secrecy Act, and Anti-Money Laundering Act

By Christopher D. Warren / October 20, 2021
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Pending in Supreme Court is a matter of the Securities and Exchange Commission (SEC) ability to enforce the Department of Treasury FinCEN regulations. Warren Law Group is closely following certiorari before the Supreme Court from the Second Circuit where the SEC is asserting its jurisdiction to enforce the Bank Secrecy Act (BSA) and Anti-Money Laundering…

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Warren Law Group

“FINRA Targets SPACs in Latest Exam Sweep”

By Todd P. Kulkin / October 13, 2021
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According to a recent article published by Investment News, SPACs are being targeted by FINRA in the latest exam sweep. In recent months, SPACs have become a popular structure in the securities industry, both for investors and the SEC/FINRA. Todd Kulkin is a Partner at Warren Law Group and handles capital raises. He explains that…

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Warren Law Group

Court Rules that SEC Stepped-Up Cyber Scrutiny in Data Breaches Does Not Constitute Duty of Loyalty Breach

By Warren Law Group / October 13, 2021
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In a recent article from Reuters, the SEC can target a company because of a data breach, but that does not constitute the standard for the breach of the duty of loyalty. On the contrary, companies can also be sued by its shareholders because of a data breach. The court ultimately ruled that despite this…

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Warren Law Group

Tech Embraces Global Corporate Minimum

By Todd P. Kulkin / October 13, 2021
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According to an article published by Axios, a new global tax minimum will be enacted. This action has been received very positively by the tech industry. “The tech industry seems to have accepted the inevitability of the Global Minimum Tax and have begun the process of molding it to suit them by attempting to make…

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