One-Two-Three Punch: SEC and FINRA Announce Actions Against Unregistered Broker, Digital Asset Manager and FINRA Registered Person

On September 11, the Securities and Exchange Commission and Financial Industry Regulatory Authority separately announced three “first of their kind” enforcement actions related to digital assets. Over the past year, regulators have repeatedly stressed the need for compliance with the securities laws when transacting in digital assets that are securities. These actions emphasize the need for all market participants — not just issuers — to comply with the securities laws, and further underscore that compliance with the securities laws extends beyond avoiding fraudulent conduct.

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Additional contributors to this post:

Nathan A. Howell

Verity A. Van Tassel Richards,





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