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The US Securities and Exchange Commission (SEC) has charged the Russian analyst agency ICO Rating of $ 268,998 for violating the anti-advertising provisions, according to an announcement on Aug. 20.
In its announcement, the SEC claimed that ICO Rating had violated the anti-advertising provisions of Section 17 (b) of the Securities Act of 1933 by failing to disclose payments received from issuers of coins (ICO) that she had noticed and published on her platform. . Melissa Hodgman, Associate Director of the SEC's Law Enforcement Division, said:
"Securities laws require developers, including individuals and entities, to disclose the compensation they receive for touting investments, so that potential investors know that consult a paid promotional item. […] This requirement applies that the proposed securities are issued using traditional certificates or on the blockchain. "
Without admitting or denying the SEC's findings, ICO Rating has ostensibly agreed to no longer commit future breaches of these provisions by paying a refund and prejudgment interest of $ 106,998 and a civil penalty of $ 162,000. .
Earlier in August, Cointelegraph announced that the SEC had reached a $ 7 million settlement with PlexCorps owner Dominique Lacroix, commercial partner Sabrina Paradis-Royer and PlexCorps for an allegedly fraudulent OIC. The SEC found that the defendants had raised $ 8,669,218 through the PlexCoin OIC.
Also this month, New England-based SimplyVital Health, Inc. settled with the SEC an ICO estimated at $ 6.3 million. Without confirming or denying the allegations that it was violating certain aspects of the Securities Act of 1933, SimplyVital has accepted a cessation and discontinuance order imposed by the SEC.
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