Legal Groups Petition U.S. Supreme Court to Review Standards for Determining Investment Contracts

深潮 TechFlow reported that on November 13, according to an announcement by investor rights organization Investor Choice Advocates Network (ICAN), the organization and law firm Paul Hastings, on behalf of three sales agents, petitioned the U.S. Supreme Court to review standards for determining investment contracts.

The question presented is whether asset selection, valuation, and pricing work completed by a seller before sale alone can cause an asset to constitute a security, or whether buyers must expect to profit from post-sale managerial efforts by others. ICAN said the U.S. Courts of Appeals are divided on this issue, and related questions may affect the application of securities laws to assets such as digital assets, artwork, and precious metals.

The petition was made public on November 10, and the Supreme Court has not yet decided whether to grant certiorari.

Source: 深潮 TechFlow