Monthly Archives: September 2022

Sky Mavis Taps Robinhood Compliance Exec as New Legal Chief

Sky Mavis Inc., a non-fungible token-focused startup reeling from a massive hack earlier this year, has hired its first-ever general counsel in James Nguyen from Robinhood Markets Inc. Nguyen, who will lead legal and regulatory affairs for the Vietnamese company, most recently was general counsel and chief compliance officer for Robinhood’s cryptocurrency unit. Robinhood, which in August cut 23% of…

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California Moves Forward to Allow Vital Records to be Issued on Blockchain

Californians will have the option of a blockchain-based delivery of their vital records after a new law was approved establishing the technology as an integral part of state recordkeeping. The state has been wrestling with a number of cryptocurrency proposals, and though Gov. Gavin Newsom vetoed a crypto licensing and regulation bill this week – seen as a possible West…

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Porsche Wins Dismissal of $5.3 Billion Case Linked to Volkswagen Saga – Bloomberg

Porsche Automobil Holding SE won the dismissal of lawsuits from hedge funds seeking about 5.4 billion euros ($5.3 billion) in damages they say they incurred during Porsche’s failed takeover of Volkswagen AG more than a decade ago. Institutional investors and private shareholders had pursued Porsche for compensation for losses they suffered in the trading of Volkswagen stock. German judges on…

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Nancy Pelosi’s Congressional Stock Ban Isn’t as Strict as It Sounds | Vanity Fair

By including the spouses and dependents of federal officials in its ban, the bill addresses one of the key methods lawmakers may employ to dodge conflict of interest accusations. Still, the requirement that officials enter their assets into a blind trust could create new ethics concerns and potentially eliminate current transparency initiatives, according to Walter Shaub, the former director of…

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Bourbon insider trading – Bloomberg

This is a rule of securities law, though sort of an unwritten one: There is no specific statute banning insider trading, but there is a long tradition of treating it as a form of securities fraud. Using that secret inside information to trade stock is a form of fraud, on someone. (It’s not always clear who: The people on the other side…

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SEC Charges Man for Defrauding Investors out of Millions of Dollars by Posing as Hedge Fund Billionaire

According to the SEC’s complaint, Costello portrayed himself to the public as a seasoned, licensed investment professional who was building a conglomerate in the cannabis industry. His alleged false representations included credentials as a Harvard MBA, experience managing a $1.15 billion hedge fund, and years of experience on Wall Street. As alleged in the complaint, Costello used these fabricated accomplishments…

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