Daily Archives: December 10, 2018, 5:09 pm

Can Hester Peirce Refocus The SEC On Its Real Job?

A closer look at Peirce’s public activities since she became Commissioner in January suggests that her opinion on this specific issue isn’t just a one-off. To the contrary, it reflects a larger deregulatory sensibility that has gladdened financial institutions and investors alike. For example, in those same remarks, Peirce warned the Commission against focusing on penalty amounts; in other words,…

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Williams & Connolly Chair Dane Butswinkas Is Named Tesla General Counsel | National Law Journal

Dane Butswinkas, the Washington-based trial lawyer and chairman of Williams & Connolly, will become the next general counsel to Tesla Inc, arriving as the company attempts to climb out of a period of intense regulatory scrutiny. Butswinkas, who has practiced at Williams & Connolly for 30 years and was serving as co-chair of the firm’s commercial litigation and financial services…

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Bernie Madoff’s Legacy: Whistleblower Inc. – WSJ

Ten years ago, Bernard Madoff’s multibillion-dollar Ponzi scheme, the biggest fraud in U.S. history, shocked the financial world. It soon emerged that a forensic accountant, Harry Markopolos, had been alerting regulators for years to Mr. Madoff’s fraud, but no one had listened. At Mr. Markopolos’s urging, the Securities and Exchange Commission created a cash-for-tips program, designed to encourage reports of…

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China’s securities watchdog punishes illegal market operations – Xinhua | English.news.cn

China’s securities regulator punished three companies for price manipulation and insider trading in an effort to protect the interests of retail investors. The China Securities Regulatory Commission (CSRC) has imposed fines totaling 1.11 million yuan (160,000 U.S. dollars) on three companies in its latest crackdown on illegal market operations. via China’s securities watchdog punishes illegal market operations – Xinhua |…

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Madoff’s Victims Are Close to Getting Their $19 Billion Back

While no one will ever collect the phantom profits Madoff pretended he was earning, the cash deposits by his clients have been the primary objective for Irving Picard, a New York lawyer overseeing liquidation of Madoff’s firm in bankruptcy court. So far he’s recovered $13.3 billion—about 70 percent of approved claims—by suing those who profited from the scheme, knowingly or…

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Ohio Accepts Bitcoin for Tax Payments; In Other News, John Wick, Inc. Relocates to Cleveland | LinkedIn

Last week, bitcoin hit yet another milestone when Ohio began accepting bitcoin payments for taxes, the brainchild of its visionary State Treasurer, Josh Mandel, who apparently has ambitions to transform Ohio into a real-life version of John Wick’s Hotel Continental. Ohio’s accepting of bitcoin is a first for any U.S. government agency, and while perhaps a boon for the John Wicks…

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