The Securities and Exchange Commission (SEC) settled with Kim Kardashian over allegations she violated Section 17(b) of the Securities Act (the “Act”) by publishing an Instagram post promoting the crypto-currency, EthereumMax token (EMAX), to her 250 million followers, without adequate disclosures. Kardashian received approximately $250,000 for this post.Read more…Under Section 17(b), it is unlawful for any person to publish or promote “any communication which describes a [purchasable] security for a consideration…without fully disclosing the receipt…of such consideration and the amount thereof.” Section 17(b)’s mandate to include the amount paid for a securities post goes over and above the more widely known Federal Trade Commission (FTC) requirement that all paid social posts be clearly and conspicuously disclosed as advertising.
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Latvia: Latvian companies, branches, associations, foundations registered in the Republic of Latvia, and other entities registered in the registers of the Enterprise Register need to immediately activate the official electronic address (e-address).
What is an e-address?
The official electronic address is a digital mailbox for communication between public administration institutions and individuals. One can receive and send letters, applications, documents, and request (often also receive) services there.