The Securities and Exchange Commission announced plans to add a new Office of Crypto Assets to the Division of Corporate Finance’s Disclosure Review Program.
The SEC’s Disclosure Review Program is responsible for reviewing transactional filings as well as periodic and current reports to the commission that fall under the responsibility of the Division of Corporate Finance. The Office of Crypto Assets will, therefore, review matters related to crypto assets. The SEC said the new office will enable the Disclosure Review Program to better focus resources and expertise on this specific area.
“As a result of recent growth in the crypto asset and the life sciences industries, we saw a need to provide greater and more specialized support in the DRP’s Office of Finance and its Office of Life Sciences,” said Renee Jones, director of the Division of Corporation Finance, in a statement. “The creation of these new offices will enable the DRP to enhance its focus in the areas of crypto assets, financial institutions, life sciences, and industrial applications and services and facilitate our ability to meet our mission.”
In addition, the SEC announced the creation of the Office of Industrial Applications and Services within the DRP. It will be responsible for the non-pharma, non-biotech and non-medicinal products companies currently assigned to the Office of Life Sciences