Following the SEC’s recent initial subpoena offerings (pun intended) targeting ICO issuers, many believe the SEC might now turn its sights toward some of the gatekeepers involved in the subject ICOs, including the attorneys. Some attorneys practicing in the ICO space have simply been too aggressive in their approaches, or otherwise negligent in their advice to clients, drawing recent criticism from the SEC and increasing the potential that we will see the SEC take direct action against such attorneys.
many believe the SEC might now turn its sights toward some of the gatekeepers involved in the subject #ICOs, including the attorneys
If you’ve been under a rock for the last year or so, you might not know that “initial coin offerings” or ICOs are the hottest thing in the financial market today. As if the fact that the overwhelming majority of ICOs aren’t regulated in any substantive way didn’t make them a risky enough investment, it seems fraudsters are dusting off the old “pump-and-dump” scheme made famous in the 80’s and 90’s and giving it new life in the ICO industry.
LAST UPDATED: August, 2017
Last year we started the “Incubate Illinois Conference” which was designed to bring together Midwest incubators/ accelerators, VC/angel investors, and emerging businesses. The conference was a huge success and we are doing it again, only this time it promises to be bigger and better!!!
For those who don’t know, Illinois has had an “Angel Investment” program since 2012 where investors who invested in qualifying companies would receive a 25% tax credit against their Illinois income taxes. Sounds great in theory, but the types of companies that would be eligible for qualification under this program are severely limited. Not to mention the fact that the program itself expired, pursuant to its terms, as of December 31, 2016. Given the significant beneficial impact an angel investment tax program could have on Illinois business, I drafted a bill (
