Daily Archives: May 11, 2022, 9:37 pm

Moderna CFO Fired After First Day – Radical Compliance

Wild news in the Covid-19 world today: Vaccine maker Moderna has fired its new CFO one day into the job, after the executive’s previous employer disclosed in an SEC filing that it had launched an investigation into fraudulent financial reporting. Moderna disclosed the departure of Jorge Gomez in a terse press release issued Wednesday morning. His firing, the company said,…

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Grayscale tells SEC that turning biggest bitcoin fund into ETF will unlock $8 billion for investors

Grayscale, the asset manager running the world’s largest bitcoin fund, met privately with the Securities and Exchange Commission last week in an effort to persuade the regulator to approve the conversion of its flagship fund into an ETF, CNBC has learned. Turning the Grayscale Bitcoin Trust into a NYSE-traded ETF would broaden access to bitcoin and enhance protections while unlocking…

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Foley Adds Securities Enforcement Partner Jim Lundy in Chicago | Foley & Lardner LLP

Foley & Lardner LLP announced today that Jim Lundy has joined the firm’s Chicago office as a partner in its Litigation Department and Securities Enforcement & Litigation Practice Group. Lundy brings over two decades of SEC enforcement experience, including 12 years at the U.S. Securities and Exchange Commission (SEC). Source: Foley Adds Securities Enforcement Partner Jim Lundy in Chicago |…

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U.S. judge says Musk recklessly tweeted that ‘funding secured’ for taking Tesla private | Reuters

A U.S. judge has determined that Elon Musk’s 2018 tweets that funding had been secured to take electric car maker Tesla private was inaccurate and reckless, saying “there was nothing concrete” about financing from Saudi Arabia’s sovereign wealth fund at that time. San Francisco-based U.S. District Judge Edward Chen’s pre-trial decision represented a major victory for investors in a lawsuit…

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SEC’s Gensler Says Crypto Exchanges Trading Against Clients

The US Securities and Exchange Commission chair reiterated Tuesday that most digital assets fall under his agency’s purview and venues trading them should register with the regulator. The SEC is also beefing up its enforcement efforts, he added. Speaking in an interview with Bloomberg News, Gensler said he’s concerned that crypto exchanges aren’t putting up proper walls between different parts…

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The Pushback on E.S.G. Investing – The New York Times

While speaking about energy policy in Texas yesterday, former Vice President Mike Pence, a potential 2024 Republican presidential contender, said he wanted to “rein in” E.S.G., or investing based on environmental, social and governance principles. He is not alone. Some notable names are pushing back as businesses get increasingly tangled up in cultural and political fights, and as the federal…

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Joe Weisenthal on Terra- Bloomberg

Here’s the thing though, just because it may be a crucial component of the future DeFi vision doesn’t mean it’s necessarily going to be possible. The question remains how can you just create an asset and set the price unless you have an infinite amount of money, or some other persistent source of cash flow, to back it? Source: Five Things You Need to…

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