Daily Archives: February 11, 2020, 9:40 am

Trump Administration Would Shift Audit Watchdog Role to SEC

The White House would transfer the authority of the Public Company Accounting Oversight Board to the SEC by 2022 in order to eliminate duplication between the two regulators and “reduce regulatory ambiguity,” it said in the budget released Monday. The administration estimates eliminating the board would save an estimated $580 million over nine years. Public companies and registered broker-dealers pay…

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Recent Trends in SEC Penalties Against Public Companies | CLS Blue Sky Blog

Civil penalties against public companies have always been controversial, but they are now commonplace.  To the cynic, the penalty regime appears to be a studied compromise, in which public companies are allowed to settle SEC enforcement actions with reduced charges and no individual liability in exchange for a payment.  This allows the SEC to trumpet a strong enforcement program by…

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SEC commissioner’s crypto enforcement proposal could impact landmark case v. Telegram – Reuters

On Feb. 19, U.S. District Judge Kevin Castel of Manhattan will hear competing motions for summary judgment in the Securities and Exchange Commission’s most significant enforcement action to date against a blockchain developer. The SEC will argue that entrepreneurs from the encrypted messaging app Telegram breached securities laws when they raised nearly $2 billion to develop a new blockchain platform.…

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