SEC revokes securities of LegacyXChange for reporting failures
By 
Adrianne Appel2022-11-30T18:56:00
LegacyXChange had its securities revoked by the Securities and Exchange Commission (SEC) for failing to file required reports to the agency for four years.
Legacy is an inactive shell company that operates an online platform for buying and selling sports-related products through live auction. After filing to go public in April 2016, Legacy notified the SEC in June 2016 it would be completing its first report late.
“[B]etween July 2016 and November 2020, Legacy failed to file that report, any other required periodic reports, or any additional Forms 12b-25 to notify the commission that it needed additional time to file its periodic reports,” the SEC said in an administrative proceeding Tuesday.
Related articles
-
ArticleFlorida seafood exec faces 10 years for crab claw price fixing
A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
-
ArticleFormer U.S. clothing business CEO faces 25 years for bribery in Honduras
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
-
Basic PageTrump wants SEC to toss quarterly reporting requirement
President Donald Trump is pushing for a shake-up in corporate reporting rules, calling on companies to file earnings with the SEC only twice a year instead of every quarter.
More from Regulatory Enforcement
-
News BriefDOJ sues Uber over alleged discrimination against disabled riders
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
-
ArticleEU targets crypto, fintech firms in push to tackle money laundering
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
-
ArticleCalifornia, Colorado, and Connecticut launch joint crackdown on privacy violators
California, Colorado, and Connecticut launched a joint enforcement sweep against businesses that fail to honor consumers’ online opt-out requests, the states announced Tuesday.