Monthly Archives: March 2021

Chamber of Commerce endorses Gary Gensler to serve as SEC chair – The Washington Post

The U.S. Chamber of Commerce, the country’s largest business lobbying organization, is throwing its weight behind Gary Gensler, President Biden’s pick to lead the Securities and Exchange Commission. Gensler, a former Goldman Sachs partner who turned into an aggressive financial industry regulator and progressive darling, was expected to win confirmation thanks to his support among Democrats. But the business lobby’s…

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SEC Charges AT&T and Three Executives with Selectively Providing Information to Wall Street Analysts

According to the SEC’s complaint, AT&T learned in March 2016 that a steeper-than-expected decline in its first quarter smartphone sales would cause AT&T’s revenue to fall short of analysts’ estimates for the quarter. The complaint alleges that to avoid falling short of the consensus revenue estimate for the third consecutive quarter, AT&T Investor Relations executives Christopher Womack, Michael Black, and Kent Evans…

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SEC Announces Enforcement Task Force Focused on Climate and ESG Issues

The Securities and Exchange Commission today announced the creation of a Climate and ESG Task Force in the Division of Enforcement.  The task force will be led by Kelly L. Gibson, the Acting Deputy Director of Enforcement, who will oversee a Division-wide effort, with 22 members drawn from the SEC’s headquarters, regional offices, and Enforcement specialized units. Consistent with increasing…

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The Cybersecurity 202: Companies are doing a terrible job of reporting cybersecurity risks to investors, a new study says – The Washington Post

Many publicly traded companies are leaving investors in the dark on important cybersecurity risks, a new report suggests. That includes vulnerabilities like the ones that allowed Russian hackers to exploit SolarWinds and other firms to infiltrate nine federal agencies and at least 100 companies. The study’s authors found that many publicly traded companies fail to provide investors with some of the…

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Coinbase Transactions Under Review by U.S. Sanctions Enforcer – WSJ

Cryptocurrency exchange Coinbase Global Inc. said its services may have been used by individuals, entities or jurisdictions subject to U.S. sanctions regulations and has disclosed the activity to a federal agency. The largest U.S.-based cryptocurrency exchange, which on Thursday filed to go public with the Securities and Exchange Commission, in a regulatory filing said it has submitted disclosures to or…

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What’s Ahead at the SEC? | The D&O Diary

President Biden’s nominee to head the SEC, Gary Gensler, faced a grilling today before the U.S Senate banking committee as his nomination  proceeds through Congress. Although the outcome of his nomination technically remains uncertain, his eventual confirmation seems likely. With that possibility in mind, it seems timely to look ahead at some of the issues the agency may address and…

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