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Join the Securities Litigation and Enforcement Group on LinkedInProposed health warning label for all ESG funds not in the impact investing space | Douglas Chia, LinkedIn
Proposed health warning label for all ESG funds not in the impact investing space: “This fund was not created with the goal of cooling the planet, saving the whales, combating racism, or having any other positive impact on the environment or society, either in the short or long term. Any positive impact this fund does […]
Wash Trading – Bloomberg
What? No. The system worked. He created some fake cryptocurrencies, fake traded them with himself, got them up to a multitrillion-dollar fake valuation, and then was unable to cash them out at any value other than zero, which is their actual value. And then instead of trying to trick anyone into buying them, he went to […]
Ex-Goldman Sachs analyst and lawyer brother faces 2023 UK insider trading trial – Reuters
A former Goldman Sachs analyst and his brother, who was a lawyer at Clifford Chance, face a trial in London next year for alleged fraud and insider dealing. Mohammed Zina, 34, who was employed by Goldman Sachs International in the conflicts resolution group of its London office, and Suhail Zina, 35, formerly an associate at […]
SEC Chairman’s Agenda Strains Resources, Internal Watchdog Finds – WSJ
The Securities and Exchange Commission’s fast-paced rule-making agenda under Chairman Gary Gensler has stretched staff resources, and some officials worry it could increase the risk of lawsuits, the agency’s internal watchdog said in a recent report. In meetings with the SEC’s inspector general, managers at the agency expressed concerns about short deadlines for staff to […]
Dear FCPA Blog: Please Stop Spreading FCPA Misinformation – FCPA Professor
Call me old-fashioned, but when you voluntarily run a website devoted to a specific law (and have numerous paid advertisers with blinking and flashing ads placed on your website) you ought to have a basic obligation to get things right about that specific law. This includes being knowledgeable about the rather limited case law that […]
SEC accuses ex-CEO of NewAge, which shot to pot-stock fame, of ‘multi-year fraud’ – MarketWatch
The Securities and Exchange Commission has filed charges against former NewAge Inc. Chief Executive Brent David Willis, accusing him of a “multi-year fraud” that included misleading public statements meant to promote the wellness-focused beverage maker that once hoped to take advantage of the nation’s CBD craze. The SEC alleged that Willis’ statements created the “illusion” […]
FTX US Will Decide What Counts as a Crypto Security, CEO Bankman-Fried Says – Bloomberg
The US arm of crypto trading giant FTX will begin conducting its own analysis to determine whether assets are securities before listing them, founder Sam Bankman-Fried said in a blog post published on Wednesday. While US regulators have said some tokens, like Bitcoin, aren’t securities, “there are a number which are unclear,” the crypto executive […]
Crypto Billionaire Sam Bankman-Fried Tries to Fix Market’s Hacking Problem – Bloomberg
Crypto billionaire Sam Bankman-Fried has outlined a framework for limiting the impact of the hacks and exploits plaguing the industry, including capping the maximum bounty for attackers at $5 million. His intervention comes just days after a hacker got to keep $50 million of the roughly $100 million drained from the Mango decentralized-finance application under […]
Corporate Directors Resign as U.S. Targets Overlaps at Competing Firms – WSJ
Board members at Udemy Inc., SolarWinds Corp. and three other public companies resigned in recent weeks because they simultaneously served as directors of competing companies, the Justice Department said. The moves came after DOJ officials signaled earlier this year that they would enforce a law that bars people from serving on the boards of rival […]