Interesting article from Forbes – SBF borrowed half a billion dollars from his hedge fund to finance a purchase of Robinhood stock. When Sam Bankman-Fried bought a nearly 7.6% stake in Robinhood, the popular stock-trading app, earlier this year, he financed the deal with more than half a billion dollars […]
Month: December 2022
IRS Delays Rule For Reporting Venmo, Etsy, Airbnb Payments
New York CNN — Anyone getting paid for their goods and services through apps like Venmo, PayPal or CashApp, or platforms like Etsy and Airbnb, just got a reprieve from the IRS. Following concerns expressed by the tax community, the electronic transactions industry and some lawmakers, the IRS said Friday […]
SEC Approves the 2023 Public Company Accounting Oversight Board Budget and Accounting Support Fee
The Securities and Exchange Commission today voted to approve the 2023 budget of the Public Company Accounting Oversight Board (PCAOB) and the related annual accounting support fee. “The PCAOB plays a critical role to ensure that investors can trust a… Read the Full Press Release Have a securities law question? […]
SEC Charges Caroline Ellison and Gary Wang with Defrauding Investors in Crypto Asset Trading Platform FTX
Dec. 21, 2022 — The Securities and Exchange Commission today charged Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. (FTX), for their roles in a multiyear scheme to defraud equity investors in FTX, the crypto trading platform […]
SEC Charges Former CEO of Biotech Company CytoDyn with Fraud, Insider Trading
The Securities and Exchange Commission today charged Nader Pourhassan, the former CEO of CytoDyn Inc., with fraud and insider trading in connection with providing misleading information to shareholders about the progress of a clinical research treatment for COVID-19 and HIV.
SEC Charges Honeywell with Bribery Schemes in Algeria and Brazil
Dec. 19, 2022 —The Securities and Exchange Commission today announced charges against Honeywell International Inc. for violations of the Foreign Corrupt Practices Act (FCPA) arising out of bribery schemes that took place in Brazil and Algeria. The company has agreed to pay more than $81 million to settle the SEC’s […]
SEC Awards More Than $37 Million to Whistleblower
December 19, 2022 – The Securities and Exchange Commission today announced an award of more than $37 million to a whistleblower whose information led to a successful SEC enforcement action and a related action. The whistleblower was the initial source of the company’s internal investigation, as well as the source […]
SEC Investor Advisory Committee to Discuss Investor Account Statements, Corporate Tax Transparency, and Single-Stock ETFs on Dec 8
The Securities and Exchange Commission’s Investor Advisory Committee will hold a virtual public meeting on December 8 at 10 a.m. ET. The meeting will be webcast on the SEC website. The committee will host three panels to discuss: Account… Read the Full Press Release Have a securities law question? Call New York […]
JPMorgan Seeks Restraining Order For Ariz. Advisor Who Lured $19.8M In Assets
Your employment agreement is important, you will be held to its terms. And it is negotiable! Plus, with proper planning, and following the Protocol, you can avoid all of this litigation. Call us first! Securities Lawyer-212.509.6544 – Nationwide Representation of Securities Professionals J.P. Morgan Securities (JPMorgan) is seeking a temporary […]
SEC Charges Eight Social Media Influencers in $100 Million Stock Manipulation Scheme Promoted on Discord and Twitter
The Securities and Exchange Commission today announced charges against eight individuals in a $100 million securities fraud scheme in which they used the social media platforms Twitter and Discord to manipulate exchange-traded stocks. According to the SEC, since at least January 2020, seven of the defendants promoted themselves as successful […]