‘Enforcement 40′ for 2017
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Tesla stocks slide as Wall Street asks, ‘Show me the money’
And the big question is where the money to take Tesla private would come from. Despite Musk’s apparent confidence he has a deal lined up, the statement by those half-dozen board members appeared to suggest they weren’t yet in the know. That’s backed up by a Reuters report that noted Thursday, “While Tesla’s board has […]
Did Elon Musk Violate Securities Laws With Tweet About Taking Tesla Private? – The New York Times
But it was Mr. Musk’s “funding secured” statement on Twitter that may put the iconoclastic founder most at risk. He provided no details about how much funding had been secured, from whom or under what conditions. His email to employees did not mention anything about the funding. “That’s a clear factual statement,” said John C. […]
Madoff Ponzi deniers seek records to shield their $100 million | Crain’s New York Business
Scores of Bernard Madoff’s former customers are pushing for access to a massive database of trading records and other documents seized from the con man’s now-defunct securities firm to advance a fringe theory about the epic fraud: It wasn’t a Ponzi scheme. Bizarre though it sounds, there’s a reason why they’re advancing the claim: If […]
Regulators to ‘Vigilantly’ Monitor Crypto-assets
Global financial regulators don’t see any imminent risk to financial stability from crypto-assets but have identified an analytical framework to monitor them “vigilantly.” In a report released on Monday, the Financial Stability Board, which coordinates financial regulation for the Group of 20 Economies, said crypto-assets “do not pose risks to global financial stability at this […]
Bitcoin jumps after report says BlackRock exploring cryptocurrencies
The price of bitcoin surged Monday after a report said that BlackRock has set up a working group to explore ways of taking advantage of the cryptocurrency market. via Bitcoin jumps after report says BlackRock exploring cryptocurrencies.
Whistleblower gets $30M in JPMorgan case – New York Business Journal
The Commodity Futures Trading Commission (CFTC) has approved a record $30 million whistle-blower award to a financial investigator for his role in exposing a scam at JPMorgan Chase. via Whistleblower gets $30M in JPMorgan case – New York Business Journal.
Ripple Beefs up Its Legal Team to Address the XRP Securities Lawsuit | NullTX
Many experts are concerned that Ripple’s XRP asset may be labeled as a security by the SEC. Those concerns first became apparent several months ago when a securities fraud lawsuit was filed against the company. The plaintiffs claimed the firm had sold securities to investors while maintaining centralized control over the currency’s supply. Although this […]
Steven Cohen Heads into Crypto, Bitcoin Through Autonomous Partners. | Fortune
Hedge fund billionaire Steve Cohen is joining the Bitcoin party. Cohen Private Ventures, which was launched by Cohen’s family office in 2010, has invested Autonomous Partners, a new hedge fund that is acquiring both cryptocurrencies and equity in blockchain-related companies. via Steven Cohen Heads into Crypto, Bitcoin Through Autonomous Partners. | Fortune.
U.S. Finance Watchdog Takes Aim at Cryptocurrency
The Financial Industry Regulatory Authority (FINRA), a self-regulatory body for broker-dealersm has released a regulatory notice to mandate its member to notify the authority if they engage in any cryptocurrency activity. Though the notice outlines what constitutes cryptocurrency activities, it does not detail how FINRA would use these disclosures nor does its website show any […]
The New Hot Law Job: Litigation Finance – WSJ
Litigation-finance firms, which invest money in corporate legal disputes, are raising hundreds of millions of dollars and staffing up to put that money to work. The funders are attracting lawyers from elite law firms including Arnold & Porter Kaye Scholer LLP, Latham & Watkins LLP, Proskauer Rose LLP and Wachtell, Lipton, Rosen & Katz. The […]