Fenwick securities enforcement co-chair Michael Dicke spoke with
Law360 about best practices for
technology companies amidst increased SEC scrutiny of initial coin
offerings and cybersecurity issues.
Dicke, formerly the head of enforcement for the SEC's San
Francisco regional office, encouraged both companies and their
service providers like public relations firms to be aware of any
applicable rules.
For example, a PR firm helping with an ICO may be caught up in
an SEC investigation, Dicke told Law360. If the ICO is
found to be fraudulent or improperly registered, those publicizing
the offering could be charged with aiding and abetting or causing a
violation if their actions contributed to the wrongdoing in any
way. Additionally, promoters may also face charges of improper
disclosures or need to respond to subpoenas which may require them
to engage a law firm to assist.
