CIAO Group Inc. (fka CIAU)

[rarefind]

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No.
81367
/ August 9, 2017
The Securities and Exchange Commission (“Commission”) announced the temporary
suspension, pursuant to Section
12(k) of the Securities Act of 1934 (the “Exchange Act”), of
trading in the securities of CIAO Group, Inc. (“CIAU”), a Nevada corporati
on, at 9:30 a.m. EDT
on August 10
, 2017, and termin
ating at 11:59 a.m. on August 23
, 2017.
The Commission
temporarily s
uspended trading in the securities of CIAU because of questions
regarding the accuracy of assertions by CIAU in press releases to investors concerning, among
other things,
the activities of the company with respect to business plans in the
telecommunicatio
ns industry and plans for an Initial Coin Offering or ICO
. This order was
entered pursuant to Section 12(k) of the Exchange Act.
The Commission cautions broker
-
dealers, shareholders, and prospective purchasers that they
should carefully consider the fore
going information along with all other currently available
information and any information subsequently issued by the company.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2
-
11 under the
Exchange Act, at the terminati
on of the trading suspension, no quotation may be entered unless
and until they have strictly complied with all of the provisions of the rule. If any broker or dealer
has any questions as to whether or not he has complied with the rule he should not enter
any
quotation but immediately contact the staff in the Division of Trading and Markets, Office of
Interpretation and Guidance, at (202) 551
-
5777. If any broker or dealer is uncertain as to what is
required by Rule 15c2
-
11, he should refrain from entering
quotations relating to CIAU’s
securities until such time as he has familiarized himself with the rule and is certain that all of its
provisions have been met. If any broker or dealer enters any quotation which is in violation of
the rule, the
Commission
will consider the need for prompt enforcement action.
If any broker
-
dealer or other person has any information which may relate to this matter, contact
Michael Paley, Assistant Regional Director, New York Regional Office, Microcap
Fraud
Task
Force, at (2
12) 336
-
0145. The SEC appreciates the assistance of the Financial Industry
Regulatory Authority