Monster ICO has bedbugs, CorpFin says in first public letter

By Anne Sherry, J.D.As it promised it would do earlier in the month, the SEC has published the first “bedbug” letter on EDGAR. The letter from staff of the Division of Corporation Finance concerns a proposed token offering by Monster Products, Inc. Rather than engage with the registrant through the comment letter process, the staff explained that Monster’s Form S-1 contains such serious deficiencies that CorpFin will not perform a detailed examination of the filing.On June 12, CorpFin announced that it would deal publicly with grossly deficient filings by publishing the SEC’s letters to noncompliant companies beginning June 15. The Division said that it would be publicizing the letters as part of the SEC’s effort to improve the transparency of its filing review process. As part of that process, CorpFin does not even review certain filings that fail to meet minimal standards of completeness. The Division said in its June 12 announcement that the new…

Read more detail on Recent Banking and Finance Law posts –

This entry was posted in Banking and Finance law and tagged , , , , , , . Bookmark the permalink.

Leave a Reply