Monthly Archives: October 2022

‘From mother-in-law to behenoi’: How Sebi is battling insider trading – BusinessToday

Speaking at the 49th Foundation Day Lecture of IIM Bangalore, Sebi chairperson Madhabi Puri Buch highlighted the advancements that the regulator has done in terms of harnessing technology and data to prevent or minimise wrongdoings in the securities market. Interestingly, she also highlighted the way violators have evolved following the regulator’s enhanced focus on technology as a tool to aid…

Read More

SEC Chair Gary Gensler backs controversial clawback rule

A new Securities and Exchange Commission rule that would allow the agency to reclaim bonuses from certain executives should not discourage companies from going public, SEC Chair Gary Gensler said Friday. The “clawback rule” broadens SEC regulators’ authority to recover incentive-based compensation to current and former executives of public companies that was awarded based on errors in their financial statements.…

Read More

Removing Sanctions on Crypto Mixer Tornado Cash Won’t Be Easy – WSJ

Cryptocurrency firms including Coinbase Global Inc. and advocacy groups likely face a long journey—and long odds—to win their lawsuits aiming to remove crypto mixer Tornado Cash from the U.S. Treasury Department’s sanctions list, where it landed due to money-laundering allegations. Efforts to be removed from the Treasury’s sanctions list can be costly and time-consuming, and they often fail, sanctions lawyers…

Read More

Debunking the narratives about cryptocurrency and financial inclusion

Before embracing cryptocurrencies or overstating their potential, policymakers should first clarify the problems they are trying to solve, and more importantly, why they are trying to solve them. When it comes to crypto and financial inclusion, there are fluctuating and contested terms and narratives. Thus, it may be difficult to discern what groups, problems, or pain points we are striving…

Read More

Coinbase Says Reddit’s Success Highlights the Potential for NFTs

Reddit non-fungible tokens (NFT) have dominated conversation in cryptocurrency markets this week after they generated $2.5 million in daily trade volume and prompted 3 million people to sign up for NFT wallets on the social media platform, Coinbase (COIN) said in a report Wednesday. *** “Facebook, Instagram and Twitter all have NFT integrations, but those initiatives focus on ‘showing off’…

Read More

Delaware Court Holds D&O Insurance Covers Fraudulent Transfer Claim Settlement | The D&O Diary

In the latest development a long-running D&O insurance coverage dispute, a Delaware Court has held that Verizon’s D&O insurance program covers the company’s $95 million settlement of a bankruptcy Trustee’s fraudulent transfer claim. In reaching this conclusion, the Court held, among other things, that the fraudulent transfer claim was a “Securities Claim” within the meaning of Verizon’s primary D&O insurance…

Read More

Crypto Dominates the Worst ETF Debuts: FT

Cryptocurrency exchange-traded funds (ETFs) account for five for the worst seven debuts in ETF history, according to Morningstar Direct data, the Financial Times reported on Friday. The five funds were all linked to the performance of crypto or blockchain. The worst performer was France-based Melanion BTC Equities Universe fund, which invests in companies such as bitcoin miners Marathon Digital Holdings…

Read More

Gary Gensler’s Bad Performance Review – WSJ

Businesses have been warning that Securities and Exchange Commission Chair Gary Gensler’s fast-and-furious regulation could cause damage across the economy. Now agency officials and Democratic Senators are raising alarms too. The SEC Office of Inspector General this month issued a withering review of Mr. Gensler’s leadership that would probably get a CEO of a public company sacked. Agency division managers…

Read More