Daily Archives: November 6, 2019, 1:09 pm

Mattel, PwC Obscured Accounting Issues, Former Executive Says – WSJ

The accounting problem was tied to Mattel’s ownership of Thomas & Friends, an animated children’s show about talking trains. The finance team discussed fixing the problem and restating earnings, with the expectation that Mattel would have to admit to shortcomings in its accounting and reporting procedures, said Brett Whitaker, who was Mattel’s director of tax reporting at that time, in…

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Quinn Emanuel Says Clients Can Pay in Bitcoin | The American Lawyer

Quinn Emanuel Urquhart & Sullivan said Tuesday that it has started accepting bitcoin and other cryptocurrencies, joining a handful of other firms that have acknowledged their openness to the fledgling payment method. The firm said it accepted its first cryptocurrency payment last week using BitPay, a Georgia-based bitcoin payment service. The firm did not name the client involved. In a statement, founding partner…

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SEC Division of Enforcement Publishes Annual Report for Fiscal Year 2019

The Securities and Exchange Commission’s Division of Enforcement today issued its annual report for fiscal year 2019. The report details the division’s efforts and initiatives on behalf of investors, highlights several significant actions, and presents the activities of the division from both a qualitative and quantitative perspective. via SEC.gov | SEC Division of Enforcement Publishes Annual Report for Fiscal Year…

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Remedies in SEC Enforcement Actions: The End of Disgorgement? – SEC ACTIONS

The Supreme Court granted certiorari in a case that may well have a very significant impact on the remedies available in Commission enforcement actions: Liu v. Securities and Exchange Commission, No. 18-1501 (Cert. granted Nov. 1, 2019). The question the Court agreed to resolve is: “Whether the Securities and Exchange Commission may seek and obtain disgorgement from a court as…

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China Gives Digital Currencies a Reprieve as Beijing Warms to Blockchain – The New York Times

Blockchain is back in Beijing’s good graces. Chinese officials have quietly removed the business of making Bitcoin and other cryptocurrencies from a list of hundreds of industries that Beijing plans to outlaw. In April, the practice appeared on a list of industries that would be denied benefits and subsidies from local governments, leading to worries in China that a popular…

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SEC’s Newest Whistleblower Charges Spotlight Investors as Potential Tipsters | National Law Journal

In an amended complaint, filed in Manhattan federal district court, the SEC tacked on charges against the online auction portal Collectors Cafe and its CEO Mykalai Kontilai, who had been accused of making a fraudulent securities offering and misappropriating investors’ money. The SEC alleged that Collectors Cafe conditioned the return of money to investors who signed agreements that they would…

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