The Securities and Exchange Commission today announced its settlement with the former head of Wells Fargo & Co.’s Community Bank, Carrie L. Tolstedt, in which she has agreed to pay a $3 million penalty stemming from charges brought in 2020 for her… Read the Full Press Release Have a securities […]
Month: May 2023
Former Coinbase Manager and His Brother Agree to Settle Insider Trading Charges Relating to Crypto Asset Securities
The Securities and Exchange Commission today announced that former Coinbase product manager Ishan Wahi and his brother, Nikhil Wahi, agreed to settle charges that they engaged in insider trading through a scheme to trade ahead of multiple announcements… Read the Full Press Release Have a securities law question? Call New […]
Protected: The SEC Whistleblower Program: Rewarding Individuals Who Expose Financial Wrongdoings
There is no excerpt because this is a protected post.
Cryptocurrency – An Introduction
Cryptocurrency is a digital or virtual currency that is secured by cryptography, making it difficult to counterfeit or double-spend. Cryptocurrencies use decentralized technology for secure peer-to-peer transactions that are recorded on a public ledger known as a blockchain. There are currently over 8,000 cryptocurrencies in circulation, with new ones being […]
SEC Halts Alleged Cannabis Fraud Scheme
The SEC obtained an emergency order to halt an alleged ongoing offering fraud and Ponzi-like scheme by Integrated National Resources Inc. (INR), which does business as WeedGenics, and its owners, Rolf Max Hirschmann and Patrick Earl Williams. The SEC alleges that INR raised more than $60 million from investors to […]
State AGs Oppose SEC Rule Regulating Cryptocurrency
On May 8, 12 states led by Arkansas Attorney General Tim Griffin sent a letter to the Securities and Exchange Commission (SEC), opposing its recently proposed rule to give the commission the authority to regulate non-securities, including cryptocurrencies. While the current rules give the SEC the authority to regulate investment […]
JPMorgan, Ex-Broker Agree to Non-Solicit Truce in TRO Battle
Less than a week after it filed for a temporary restraining order against a broker who jumped to Morgan Stanley, JPMorgan Chase & Co. and the broker have agreed to a stipulated injunction, according to a court filing earlier this week. As part of the order, Brett A. Jacobson agreed […]
SEC Proposes Rule Changes to Enhance Clearing Agency Resilience and Recovery
The SEC has recently announced proposed rule changes aimed at strengthening the resilience and recovery capabilities of covered clearing agencies. These changes are designed to ensure the continuity of clearing services during times of significant stress and improve the overall risk management framework in the capital markets. Improving Intraday Margin […]
Elon Musk must still have his tweets approved by Tesla lawyer, federal appeals court rules
A federal appeals court says Elon Musk cannot back out of a settlement with securities regulators over 2018 tweets claiming he had the funding to take Tesla private. The 2nd U.S. Circuit Court of Appeals in Manhattan ruled Monday, just days after hearing arguments from lawyers in the case. Musk […]
SEC Charges 10 Microcap Companies with Securities Offering Registration Violations
May 16, 2023 —The Securities and Exchange Commission today announced charges against 10 microcap companies for offering and selling securities in unregistered offerings that failed to comply with Regulation A, which provides a limited exemption from registration under the Securities Act to allow companies to raise money from the public […]
