The U.S. Securities and Exchange Commission (SEC) has charged Russian analytical agency ICO Rating for $268,998 for violating anti-touting provisions, per an announcement on August. 20.

In the announcement, the SEC claimed that ICO Rating violated the anti-touting provisions of Section 17(b) of the Securities Act of 1933 by failing to disclose payments it received from initial coin offering (ICO) issuers it rated and printed on its platform. Associate Director of the SEC’s Enforcement Division, Melissa Hodgman,stated:

“The securities laws need promoters, as well as each individual and entities, to disclose compensation they receive for touting investments in order that potential investors are aware they're viewing a paid promotional item. [...] This demand applies no matter whether the securities being touted are issued using traditional certificates or on the blockchain.”

Without admitting or denying the SEC's findings, ICO Rating ostensibly agreed to stop and desist from committing any future violations of those provisions, paying disgorgement and judgment interest of $106,998 and a civil penalty of $162,000.

Earlier in August, Top Market Group reported that the SEC reached a $7 million dollar settlement with PlexCorps owner Dominique Lacroix, business partner Sabrina Paradis-Royer and PlexCorps over an allegedly deceitful ICO. The SEC complete that the defendants raised $8,269,218 through the PlexCoin ICO.

Also this month, New England-based firm SimplyVital Health, Inc. settled with the SEC over an allegedly unregistered $6.3 million ICO. While not confirming or denying the allegations that it violated certain aspects of the Securities Act of 1933, SimplyVital agreed to a cease-and-desist order levied by the SEC.

To know more on Cryptocurrency and Blockchain events, follow us on Facebook, YouTube,  Twitter, LinkedIn, Reddit, Telegram, BitcoinTalk, and we are also on Medium now