The Initial Coin Offering (ICO) Crackdown: Demystifying SEC's Sweeping Probes
Initial Coin Offerings (ICOs) is a mode of raising money through crowdfunding that is mainly centered with the use of cryptocurrency. Just recently, the Securities and Exchange Commission (SEC) Enforcement Division's Cyber Unit has released a wave of subpoenas and information requests relating to the sales and pre-sales of ICOs as part of its heightened regulatory enforcement against crypto fundraising mechanisms. Because ICOs are not yet governed by rules and regulations that are similar to initial public offerings (IPOs), the subpoenas demanded technology companies and advisers to provide information on the structure of ICOs’ sales and pre-sales under "simple agreements for future tokens" (SAFT), an offering structure that protects issuers of crypto-tokens from the risk of non-compliance with the federal securities laws.
In this LIVE Webcast a panel of thought leaders and professionals brought together by The Knowledge Group will provide the audience with an in-depth analysis of the fundamentals as well as recent updates involving SEC's probe on Initial Coin Offerings (ICOs). They will give highlights to the legal and regulatory updates and help identify best practices and practical tips to avoid potential legal issues and risks.
Key topics include:
- ICO – A Legal Perspective
- The SAFT Framework
- The Howey Test
- Common Risks and Legal Issues
- Legal and Regulatory Trends and Updates
- What Lies Ahead
Jordan Milev, Ph.D., Associate Director
NERA ECONOMIC CONSULTING
- Categories of ICOs and the needs they serve: an economist perspective.
- Regulatory action involving ICOs: an opportunity or a threat to the market?
- ICO aftermarket trading on exchanges: economic issues and perspectives.
Robert L. Lindholm, Of Counsel
Nelson Mullins Riley & Scarborough LLP
- Potential burdens of an SEC subpoena
- Was the SEC’s issuance of subpoenas surprising?
- SEC’s creation of Cyber Unit and Retail Task Force
- SEC enforcement actions and interpretations
- The DAO
- U.S. v. Zaslavskiy
Adam Giffords Kurtz, Associate
- SEC ICO Regulatory Developments: Guidance, Statements, Congressional Testimony, Meetings (one-on-one and w/industry)
- State (NYS) Regulation and Actions: Bit License, Questionnaires
- International ICO Regulation and Actions: Europe, Caribbean, Asia, Malta
- ICO 2.0 - Looking forward
Who Should Attend:
- Technology Companies and Advisers
- Corporate & Securities Lawyers
- Brokers and Dealers
- Digital Finance Professionals
- Financial Fraud Practicing Lawyers
- Senior Financial Management
- Financial Crime Attorneys & Consultants
- Risk and Compliance Officers
- Legal Counsel
- Start Up, Entrepreneur and Small Business Individual Companies or Groups
Dr. Jordan Milev is an Associate Director in NERA’s Securities and Finance Practice and NERA’s White Collar, Investigations and Enforcement Practice. Dr. Milev’s enforcement work relates to assisting counsel representing clients in regulatory enforcement proceedings and government investigations. His work in antitrust has involved the analysis of markets, benchmark price fixing, and price manipulation. In class actions, he has analyzed and testified on class certification, loss causation, and damages. In commercial litigation, he has testified in merger-related disputes and opined on lost profits and valuation. Dr. Milev also consults and presents on issues relating to digital currencies, biometric information, and value losses due to cyber incidents. He has been deposed as an expert witness in numerous matters and testified at trial.
Dr. Jordan Milev is an Associate Director in NERA’s Securities and Finance Practice and NERA’s White Collar, Investigations and Enforcement …
Robert L. Lindholm is of counsel in Nelson Mullins Riley & Scarborough LLP’s Charlotte and New York offices where he focuses his practice on government investigations and white collar defense, complex business litigation, class action defense, and eDiscovery and litigation readiness. Mr. Lindholm has experience representing large banks, hedge funds, and other Fortune 500 companies in government investigations and complex commercial litigation and securities matters. In addition, he has appellate experience at both the federal and state levels. His background includes representing clients before federal and state regulators, including the Securities and Exchange Commission, Department of Justice, and Commodity Futures Trading Commission, and in federal and state courts, including in multidistrict litigation proceedings. Prior to joining Nelson Mullins, Mr. Lindholm was an associate at Milbank, Tweed, Hadley & McCloy in New York and also completed a nine-month secondment in the New York office of Goldman, Sachs & Co. in the Business Intelligence Group/Compliance Group.
Robert L. Lindholm is of counsel in Nelson Mullins Riley & Scarborough LLP’s Charlotte and New York offices where he …
Mr. Kurtz is a securities lawyer at Pomerantz where he practices plaintiffs’ securities fraud class action litigation. Most recently, Mr. Kurtz played a leading role in Pomerantz’s historic $3 billion settlement, on behalf of investors, against Brazil’s oil company, Petrobras, arising from a multi-billion-dollar corruption scheme. Mr. Kurtz also practiced antitrust class action litigation, on behalf of consumers, against major financial services and pharmaceutical companies, including a $5.7 billion settlement in Master Card/Visa Payment Fee Antitrust Litig.
Mr. Kurtz first practiced antitrust and securities litigation at Cravath, Swaine & Moore LLP.
Prior to joining Pomeranz, in 2007, Mr. Kurtz served as an Assistant Corporation Counsel, New York City Law Department, defending NYC in federal court. He was also a federal criminal defense lawyer and federal law clerk in the District of New Mexico.
Mr. Kurtz has an M.B.A., Baruch College, 2009 and a J.D., cum laude, from New York Law School, 1988.
Mr. Kurtz is a securities lawyer at Pomerantz where he practices plaintiffs’ securities fraud class action litigation. Most recently, Mr. …
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Basic Knowledge in Blockchain Technology
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About NERA ECONOMIC CONSULTING
NERA Economic Consulting is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. For over half a century, NERA’s economists have been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world’s leading law firms and corporations. We bring academic rigor, objectivity, and real world industry experience to bear on issues arising from competition, regulation, public policy, strategy, finance, and litigation. With its main office in New York City, NERA serves clients from more than 25 offices across North America, Europe, and Asia Pacific.
About Nelson Mullins Riley & Scarborough LLP
Nelson Mullins Riley & Scarborough LLP offers the strength and resources of attorneys and professional staff experienced in a range of services. We provide advice and counsel in litigation, corporate, economic development, securities, finance, intellectual property, government relations, regulatory, and other needs of clients ranging from private individuals to large businesses, including many publicly held companies. Established in 1897, Nelson Mullins has more than 575 attorneys and other professionals with offices in 11 states and Washington, DC. For more information on the Firm, go to www.nelsonmullins.com.
About Pomerantz LLP
For over 80 years, Pomerantz LLP has championed the rights of defrauded investors and consumers, recovering well over $1 billion on their behalf. We consistently shape the law, having won landmark decisions that have expanded and protected investor and consumer rights, and initiated historic corporate governance reforms.
Pomerantz is a recognized leader in securities litigation. Our clients include some of the largest individual and institutional investors and financial institutions around the globe. We also have earned a national reputation for our expertise in antitrust class action litigation.