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Client Story #1: Ensuring Communications Comply with Federal Securities Laws


One of our clients raised money by selling to accredited investors under a SAFT (Simple Agreement for Future Token). When they came to us, the SEC had just subpoenaed 80 companies that had participated in ICOs.

However, the client had created a different token that was not being sold pursuant to the SAFT and needed help communicating about the token to their customers and interested members of the community.

This is a client that had engaged in securities counsel before coming to us, but even clients that are informed about securities laws and their obligations under it may inadvertently find themselves falling into traps when communicating with the public.

For a non-lawyer, it is difficult to know when a casual conversation, a response to a customer inquiry, or even a tweet can become a landmine for securities laws violations.

The startup world moves fast and the blockchain world moves even faster. There are networking events, Telegram, chat-bots and numerous other technologies allowing companies to communicate with interested parties on a frequent and instantaneous basis.

Our client needed to maintain a high level of engagement with their community while answering questions in a way that would comply with relevant law. So, we created a strategy for the client to engage with the community and reviewed their marketing materials to ensure compliance.

The best time to develop a plan for complying with securities laws is before making a single communication. We love answering our clients' questions about the law and helping them develop strategies to comply!

Client details are obscured and purposefully vague so that the client is not identifiable and confidential information is protected.

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