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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSteve Cohen Quietly Setting Up Crypto-only Asset Manager
Hedge fund billionaire Steve Cohen is laying the groundwork for an investment firm focused exclusively on cryptocurrency, according to four sources familiar with the matter. Though the new entity is in its early innings, sources said the business plans to trade spot cryptocurrencies — a segment Cohen’s multi-strategy hedge fund firm, Point72 Asset Management, has […]
BlackRock bitcoin private trust – Institutional | BlackRock
BlackRock is committed to providing clients with access to their choice of investment opportunities and has launched a spot bitcoin private trust. The trust is available to U.S. institutional clients and seeks to track the performance of bitcoin, less expenses and liabilities of the trust. Despite the steep downturn in the digital asset market,1 we are […]
SEC Investigating Melvin Capital Management – WSJ
The regulator has contacted investors in the hedge fund in recent months as part of an investigation into what Melvin founder Gabriel Plotkin and other senior executives told them following the meme-stock rally in January 2021 and whether it misled investors when it raised money last year. The SEC has obtained from Melvin its general […]
ESG as Economic Threat Catches on as Theme in Key Senate Race
To Blake Masters, the newly minted Republican Senate nominee in Arizona, ESG scores are an existential threat to the US economy along with inflation — an issue worth campaigning on as ardently as securing the border, preventing voter fraud and challenging Big Tech. “They represent a further merger of government and corporation,” Masters said, comparing […]
2022 Mid-Year Securities Enforcement Update – Gibson Dunn
In our 2021 Year-End Review, we noted that the Division of Enforcement under this Administration had outlined its vision of aggressive, heightened enforcement through an escalation of existing remedies, including increased penalties, individual bars and admissions. The first half of 2022 reflected the Enforcement Division pursuing the playbook as forecasted. Source: 2022 Mid-Year Securities Enforcement […]
Meme Stock Madness: Swiping EDGAR Codes as a Hostile Takeover Technique? — TheCorporateCounsel.net Blog
… In any event, the press release said that the board subsequently terminated Farnsworth and his pals & promised an 8-K filing. The only problem was that “[t]he Company’s SEC codes and SEC filings by the Company have been blocked by the Farnsworth Group,” so that Form 8-K couldn’t filed until those issues were resolved. […]
FTC Probes BitMart Exchange Hack, Marking US Agency’s First Crypto Case – Bloomberg
The Federal Trade Commission is investigating the operators of the BitMart cryptocurrency exchange over a December 2021 hack that led to consumer losses between $150 million and $200 million — marking the agency’s first known probe into crypto markets. The investigation was disclosed Wednesday in an FTC order denying a bid by BitMart operators Bachi.Tech […]
Regulators Weigh Asking Hedge Funds to Report Crypto Exposure – WSJ
The collapse in cryptocurrency prices this year has left U.S. regulators scrambling to understand the risks that digital-asset markets could pose to the broader economy. They may soon enlist hedge funds in the effort. The Securities and Exchange Commission issued a proposal Wednesday that would require large hedge funds to report their cryptocurrency exposure through […]
Recent SEC Enforcement Hints at Looming Crackdown on ESG Claims
A new SEC task force to police corporate environmental, social and governance disclosures is gradually ramping up enforcement, putting companies on notice. The Securities and Exchange Commission created its Climate and ESG Task Force a year and a half ago. The unit has mostly kept working behind the scenes. But in the last four months, […]
U.S. Republicans prepare consumer watchdog, SEC probes as mid-term elections loom | Reuters
“A new day is coming,” Tom Emmer, the top Republican on the House finance panel’s oversight and investigations subcommittee, said in an interview, adding the two agencies are not being held accountable by Democrats. “Once we have the power to subpoena, once they have to listen to us, aggressive congressional oversight will only strengthen our […]