SEC charged for promotion securities without disclosure

SEC charged for promotion securities without disclosure
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Hosting the biggest database of ICO projects rated by independent experts for a long time is a very complicated task. However, ICObench is always making an effort to provide correct information and to play fair. Thus, we always separate promoted placements from the free ones. On the 20th of August, The United States Securities and Exchange Commission (SEC) fines rating site for promotion without disclosure, raising a wave of criticism and debates. In this situation, we feel obligated to remind our main priorities. 

ICObench is a decentralized rating platform. ICObench is not an initial coin offering, or a wallet, or an exchange and it is not selling or buying tokens. All information is produced by community members and serves informational purposes only. Experts which are now more than 400 listed are part of the community capable to evaluate projects. 

Ratings are given by experts for free, voluntarily, public, adequately and without biases. We have built a system based on reputation, trust, and publicity, and any expert risks to lose his/her reputation. We invite experts with good reputation and expertise in business, IT, blockchain and fintech. We have added a mandatory verification through KYC procedure for them. Overall project rating which cannot be improved by promo placement is a combination of the outcome of our assessment algorithm and the expert’s ratings. 

Promotional materials published on ICObench are always clearly marked. «Premium» projects marked visually with a star, texts are marked as “Sponsored”, banners and press-releases are placed on special positions on the site. Therefore, visitors can unmistakably separate promotional content. Also, all hidden promotions are prohibited in any form.

All ratings published on ICObench serve informational purposes only. ICObench does not provide investment forecast, recommendations or any consulting for that matter. We have zero-tolerance for sales of ratings. We regularly monitor experts’ ratings to identify suspicious cases. We always encourage our community members to report any abnormal activity or information on the paid review. We conduct investigations and revoke expert status immediately in case if we have proofs. Dozens of experts were already revoked for violating the rules.

In conclusion, we highly recommend conducting independent analysis and report us in any suspicious cases. Also, we always open to comment on any situation. Thus, use our contact form or write directly to [email protected].

22 Aug 2019 icoieosecratingexpert



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