Construction Law Section Luncheon/CLE
on november 9, the Construction Law section received a presentation on “aia 2017
forms: new insurance requirements & other important Changes” by Debbie sines Crockett
Continued from page 60
the coin or token involves the
expectation of profit solely or
substantially from the efforts of
others. Further, the SEC clarifies
in its report that a coin or token
determined to be a security
is subject to the full suite of
securities regulations in the resale
of the coin or token, including
registration by exchanges with
requisite restrictions, licensing,
and disclosure requirements.
As would be expected, the
dramatic success of ICOs in
2017 attracted the attention of
regulators, as scammers and
fraudsters emerged looking for
quick profits. As the SEC has
become more active in its review
of ICOs, other countries have
followed suit, with China and
South Korea recently banning
ICOs. The SEC’s recent actions
signal that ICOs have the
attention of regulators and that
those looking to conduct ICOs
need to be counseled thoughtfully
on proceeding with legally sound
investment structures.
with Cheffy Passidomo, P.a. and scott Pence with Carlton fields. they discussed certificates
of insurance, coverage types, and the new forms, among other issues.
SEC Issues Investigative Report
Concluding DAO Tokens, a Digital
Asset, Were Securities, SEC,
July 25, 2017, available at https://
www.sec.gov/news/press-release/
2017-131.
2 Securities and Exchange
Commission v. W. J. Howey Co.,
328 U.S.
293 (1946).
1
Author:
Gregory M.
Karch – de
la Peña &
Holiday, LLP
JAN - FEB 2018
|
HCBA LAWYER
the section would like to thank
first Citrus bank for sponsoring their luncheon.
61