SEC v Recoin Group Foundation LLC, Diamond Reserve Club, and Maksim Zaslavskiy, 2017

Compliance, Cryptocurrency

Case No. 1:17-cv-05725, USDC for the Eastern District of New York (Brooklyn) Securities and Exchange Commission Civil Enforcement Action Summary: By Complaint dated September 29, 2017, the SEC filed an emergency civil action in the United States District Court for the Eastern District of New York against defendants, REcoin Group Foundation LLC (“REcoin”), DRC World Inc., a/k/a Diamond Reserve Club (“Diamond”), and Maksim Zaslavskiy (“MZ”). The SEC sought temporary and permanent injunctions to stop the defendants alleged activity, “ … from engaging in... Read More

FTC – Federal Trade Commission Act Sec 5, Pub. L. No. 103-312, Unfair Competition

Compliance, Cryptocurrency, US Code, US Laws - CyberSecurity

Unfair or deceptive acts or practices in commerce > The FTC Act (15 USC §41 et seq) was amended with Section 5 to prohibit “unfair or deceptive acts or practices in or affecting commerce.” The FTC Act was originally enacted on September 26, 1914, Chapter 311, compiled at 38 Stat. 719; and codified at 15 USC 41 -77. FTC Section 5 added by United States Public Law 103-312 on August 6, 1994; compiled at 108 Stat. 1691-1698; and codified at 15... Read More

FDCPA – Fair Debt Collection Practices Act of 1977, Pub. L. No. 95-109

Compliance, Cybersecurity, US Code, US Laws - CyberSecurity

The FDCPA Title VIII amended the Consumer Credit Protection Act (15 USC 1601 - 1693r) to prevent abusive practices by debt collectors. This Title may be cited as the Fair Debt Collection Practices Act and is codified at 15 USC 1692 - 1692p. The Federal Trade Commission (FTC), the nation's consumer protection agency, enforces the FDCPA, which prohibits debt collectors from using abusive, unfair or deceptive practices to collect debts. The FDCPA was initially enacted as United States Public Law... Read More

15 U.S.C. 78ff – Securities Exchange Act of 1934 – Penalties

Compliance, Cryptocurrency, US Code

Title 15 - United States Code - Commerce and Trade Chapter 2B - Securities Exchanges (§§78a - 78qq) Sec. 78ff . Penalties [from the Securities Exchange Act of 1934, ch. 404,  as amended, and codified at 15 USC §78a to §78qq] (a) Willful violations; false and misleading statements Any person who willfully violates any provision of this chapter (other than section 78dd–1 of this title), or any rule or regulation thereunder the violation of which is made unlawful or the observance of which is... Read More

15 USC 78j – Securities Exchange Act of 1934 – Manipulative and Deceptive Devices

Compliance, Cryptocurrency, US Code

Title 15 - United States Code - Commerce and Trade Chapter 2B - Securities Exchanges (§§78a - 78qq) Sec. 78j. Manipulative and deceptive devices [from the Securities Exchange Act of 1934, ch. 404,  as amended, and codified at 15 USC §78a to §78qq] It shall be unlawful for any person, directly or indirectly, by the use of any means or instrumentality of interstate commerce or of the mails, or of any facility of any national securities exchange— (a)(1) To effect a short sale, or... Read More

17 CFR 240.10b-5 – Employment of manipulative and deceptive devices

Compliance, Cryptocurrency, US Code

Title 17 - Commodity and Securities Exchange Chapter II - Securities and Exchange Commission Part 240 - General Rules and Regulations, Securities Exchange Act of 1934 Manipulative and Deceptive Devices and Contrivances §§240.10-b1 to 240.10b-21 Sec. 240.10b-5 - Employment of manipulative and deceptive devices.   It shall be unlawful for any person, directly or indirectly, by the use of any means or instrumentality of interstate commerce, or of the mails or of any facility of any national securities exchange, (a) To employ any device, scheme, or... Read More

15 USC 77q – Securities Act of 1933 – Fraudulent Interstate Transactions

Compliance, Cryptocurrency, US Code

Title 15 - United States Code - Commerce and Trade Chapter 2A - Securities and Trust Indentures (§§77a - 77bbbb) Subchapter I - Domestic Securities Sec. 77q. Fraudulent Interstate Transactions [from the Securities Act of May 27, 1933, ch. 38, as amended, and codified at 15 USC §77a to 77z-3]   (a) Use of interstate commerce for purpose of fraud or deceit It shall be unlawful for any person in the offer or sale of any securities (including security-based swaps) or any security-based swap agreement (as... Read More

15 USC 77h-1 – Securities Act of 1933 – Cease and Desist Proceedings

Compliance, Cryptocurrency, Cybersecurity, US Code

Title 15 - United States Code - Commerce and Trade Chapter 2A - Securities and Trust Indentures (§§77a - 77bbbb) Subchapter I - Domestic Securities Sec. 77h-1 Cease and Desist Proceedings [by the SEC] [from the Securities Act of May 27, 1933, ch. 38, as amended, and codified at 15 USC §77a to 77z-3] (a) Authority of Commission If the Commission finds, after notice and opportunity for hearing, that any person is violating, has violated, or is about to violate any provision of this subchapter,... Read More

11 U.S.C. 523 – the Bankruptcy Act Exceptions to Discharge

Compliance, ICO Initial Coin Offering

Title 11 - United States Code - Bankruptcy Chapter 5 - Creditors, the Debtor, and the Estate Subchapter II - Debtor's Duties and Benefits Sec. 523 - Exceptions to Discharge (a)discharge under section 727, 1141, 1228(a), 1228(b), or 1328(b) of this title does not discharge an individual debtor from any debt— (1) for a tax or a customs duty—(A) of the kind and for the periods specified in section 507(a)(3) or 507(a)(8) of this title, whether or not a claim for such tax was... Read More

Terms and Conditions - Privacy Policy