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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInCongress should put an end to in-house courts at the SEC | The Hill
Congress should give serious consideration to abolishing SEC administrative proceedings. They are not necessary to an effective securities enforcement program, and they fail to meet the standards of impartiality and fairness we expect from federal institutions. Contrary to some observers’ fears, this would not be the end of the administrative state. It would strengthen confidence […]
SEC chair urges ‘one rule book’ for crypto to avoid gaps in oversight | Financial Times
Gensler said he was working on a “memorandum of understanding” with the CFTC, which he headed from 2009 to 2013. The SEC has jurisdiction over platforms listing tokens that are deemed securities. If a token that represents a commodity is listed on a platform overseen by the SEC, the securities regulator would “send that information […]
SPAC Stock Prices Reflect the End of an Era – Bloomberg
The fad also attracted a range of Wall Street titans, athletes, and celebrities looking to get a piece of the pie by starting their own SPACs. But tumbling stock prices—especially those of more speculative, early-stage companies—have wiped out billions of dollars in value for shareholders who held SPACs after their acquisition deals. Some companies that […]
Balwani’s Atty Tells Jury Romance With Holmes Not A Crime – Law360
Former Theranos executive Ramesh “Sunny” Balwani’s attorney told a California federal jury during closing arguments in his criminal fraud trial Wednesday that Balwani’s romantic relationship with ex-CEO Elizabeth Holmes doesn’t prove he committed a crime, noting their text messages never say, “Let’s do crime, let’s cheat people, let’s deceive people.” Source: Balwani’s Atty Tells Jury […]
The crypto crime wave is real and it’s gotten worse. – Los Angeles Times
The growth in crypto fraud has turned exponential in recent years. The reported losses from crypto scams in 2021 were 60 times larger than in 2018, the Federal Trade Commission reported earlier this month, with crypto now accounting for 1 out of every 4 dollars lost to fraud in the reports monitored by the agency. […]