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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInWhistle-blowers – Bloomberg
We have talked about Jordan Thomas — the lawyer who designed the whistleblower program at the SEC and then left to be one of its main beneficiaries — before; I wrote: “This is a good trade — build a spigot of government money and plant yourself in front of it.” If you currently work at the SEC, […]
Nasdaq to Defend Board Diversity Push After California Setbacks
A three-judge panel of the US Court of Appeals for the Fifth Circuit will hear oral arguments on Monday in an appeal of a Securities and Exchange Commission decision approving new Nasdaq Inc. rules. The tech-heavy stock exchange is requiring its listed companies to have diverse corporate boards or explain why they don’t. The conservative […]
What Is ‘the Merge’? – The New York Times
Ethereum, the most popular crypto platform, is set to unveil a new technological infrastructure next month that is designed to reduce its energy consumption by more than 99 percent. The upgrade, called the Merge, is one of the most eagerly anticipated events in crypto’s history. But the process is complicated and carries significant risks. Here’s […]
Texas bans BlackRock, UBS, others over ESG investing
On Wednesday, Texas Republican Comptroller Glenn Hegar released a list of 10 companies and 348 investment funds that will be barred from doing business with the state because they “boycott energy companies.” The list follows enactment of a law last year prohibiting most state agencies and local governments from contracting with such firms. BlackRock, Credit […]
Statement on Agreement Governing Inspections and Investigations of Audit Firms Based in China and Hong Kong
This agreement announced today brings specificity and accountability to effectuate Congress’s intent. It provides the standards against which to judge whether auditors of Chinese issuers have complied with the requirements of U.S. law, including PCAOB auditing standards. I thank Congress for their attention to these important matters. In particular, Chinese authorities have committed to four […]
SEC Charges Infrastructure Company Granite Construction and Former Executive with Financial Reporting Fraud
he Securities and Exchange Commission today charged Granite Construction, Incorporated and its former Senior Vice President, Dale Swanberg, with fraud for inflating the financial performance of the major subdivision Swanberg managed. In 2021, Granite restated its financial statements from 2017 through 2019 to correct revenue and profit margin errors allegedly caused by Swanberg’s misconduct. The […]