Fintech PR
SEC Commissioner Peirce Announces Support for the Creation of SEC Safe Harbor for Digital Token Sales in the United States During RockTree LEX Sponsored Forum
SEC Commissioner Hester Peirce announced her support in the establishment of a ‘non-exclusive safe harbor’ exemption from registering as securities offerings for digital token sales in the United States. Known to the blockchain community as “Crypto Mom,” Commissioner Peirce was speaking in Singapore during a keynote address at the SUSS Convergence Forum, co-sponsored by RockTree LEX, which brought together the leaders of securities regulators in the United States and Asia, including the Singapore MAS, among others. Commissioner Peirce also announced she is seeking feedback from top blockchain lawyers and cryptocurrency industry leaders of how the SEC could define digital tokens and under what specific conditions the safe harbor would be available. RockTree LEX will be a part of those discussions with the SEC in helping develop new rules and policy.
The progressive announcement from the SEC comes off the back of a highly active month which saw open-door and closed-door meetings with the US Senate and Congress in Washington, DC about blockchain and cryptocurrency policy and rules in response to Facebook’s Libra project, and echoed the common message that the US is falling behind in the new economic race of blockchain technology and cryptocurrencies.
Commenting on SEC Commissioner Pierce’s announcement, Omer Ozden, CEO of RockTree LEX, who was one of the members at the meetings with Senate and Congress in Washington, DC last week, said, “This has been a major month for Blockchain and Cryptocurrencies, as the top leaders in major countries have woken up to what this technological race means for their economies and long term competitiveness. In our meetings with Congress, we were impressed at their level of understanding of the benefits of cryptocurrencies and blockchain, and also saw their concern that both small and major technology companies like Facebook, were now seeking legal structures offshore to continue their innovation. With our unique international perspective in law and investment which spans Greater China and North America, we delivered a personal message to Congress which called for greater action, and our specific opinions on how the US government should approach regulating blockchain and cryptocurrencies in order to allow innovation to flourish.” He also added that “Commissioner Pierce’s support in the establishment of a safe harbor framework for the sale of utility tokens will provide untold benefits and unlock US innovation, which reflects, we believe, a very recent trend of permissiveness by the SEC.”
The trend Ozden was referring to with the SEC relates to other progressive regulatory occurrences during this the past month. On July 10, 2019, Blockstack, a technology company developing a new blockchain network (the Blockstack network) for decentralized applications, received approval from the SEC for its offering of Stacks Tokens under Regulation A of the Securities Act of 1933 (the “Securities Act”). This was quickly followed by the SEC qualifying the offering of Props Tokens by YouNow, which is building a blockchain-based digital medial platform (the Props Network).
These are the first-ever Regulation A digital securities offerings to be qualified by the SEC. Previously, security token offerings in the US were being conducted either through Regulation D under the Securities Act, which generally only allowed accredited investors to participate in the offering and restricted resale of the tokens for 12 months, or Regulation S under the Securities Act, which allowed US or foreign issuers to sell tokens outside of the US but resulted in a compliance period of up to 12 months where the tokens could not be sold to U.S. persons. Through Regulation A, the Stacks Tokens and Props Tokens can be legally distributed to anyone in the US and are freely tradeable after the initial purchase.
More importantly, the Stacks Tokens and Props Tokens are both utility tokens. The Stacks Tokens are the native tokens of the Blockstack network and are to be used to transact on the network (such as creating digital assets or burning tokens for fuel). The Props Tokens serve as the currency of payment in the Props Network. Both Blockstack and YouNow have noted that they anticipate their tokens being treated as securities under the recent guidance provided by the SEC “Framework for ‘Investment Contract’ Analysis of Digital Assets” and the application of the Howey test for the foreseeable future. However, the tokens may in the future be determined to no longer constitute securities under US law as relevant legal and regulatory standards develop and their respective networks become so decentralized such that purchasers no longer reasonably expect the issuers to carry out essential managerial or entrepreneurial efforts. Such a determination would likely culminate in a no-action letter from the SEC.
Additionally, on July 25, 2019, the SEC issued a no-action letter to Pocketful of Quarters in respect of its Quarters tokens, which is a universal virtual currency for gaming. Notably, this is the first ERC-20 public blockchain token approved for sale without needing to be registered under US law. Notably, Quarters are essentially stablecoins in that they will be made continuously available at a fixed price and are sold to gamers solely for consumptive use as a means of purchasing in-game items or participating in e-sports tournaments. Quarters cannot be traded in secondary markets. In addition, funds from Quarters will not be used to build the Quarters platform as it has already been developed and was funded through investment tokens, which were issued to investors under Regulation D.
Ozden added, “We welcome Commissioner Peirce’s support of innovation, and the increased appetite by government in the United States and other jurisdictions to engage industry and progress in bringing clear regulatory oversight of digital token activity. At RockTree LEX, we believe that in blockchain, law is also technology: to be a successful blockchain project, you need to understand legal compliance and options around the globe, and to be a successful nation of innovation, you need to develop a regulatory framework that encourages innovation to unlock growth. As a global blockchain legal platform and an investor, RockTree LEX is committed to assisting government to help shape progressive regulatory frameworks so they can unlock technological and financial growth for their economy.”
SOURCE RockTree LEX
STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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Invitation to presentation of EQT AB’s Q1 Announcement 2024 |
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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