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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInThe SEC’s enforcement regime may soon undergo a constitutional revamp — Financier Worldwide
Cochran and Jarkesy threaten the viability of the SEC’s home courts. But the reported death of the SEC’s enforcement regime at large has been greatly exaggerated. Before the enactment of the Dodd-Frank Act in 2010, the SEC could bring securities fraud actions against non-registered parties only in federal court. While the SEC increased its use […]
Crypto-Traceability: Don’t Believe The Hype | John Reed Stark
Yesterday’s exciting news from then U.S. Department of Justice (DOJ) regarding the seizure of over 50,676 bitcoin hidden in the home of Silk Road defendant James Zhong was certainly worthy of praise and celebration, especially given the tremendous effort by the DOJ together with Criminal Investigation’s Western Cyber Crimes Unit of the Los Angeles Field Office […]
Robinhood Gave Customers Access to IPOs That All Flopped – Bloomberg
A Bloomberg analysis of the program, IPO Access, suggests it has been a flop for investors so far. he initiative, which allowed users to buy shares of buzzy companies like Sweetgreen Inc. and Allbirds Inc. before they debuted on stock exchanges, resulted in losses for customers who still hold the shares. In an already dismal […]
The Drama’s Back in Crypto, and Nobody’s Happy About It – Bloomberg
The incident also demonstrates the importance of enduring and trusted institutions to markets. Any asset class needs a few clear rules and some kind of referee who actually enforces them, or eventually people will stay away. Cryptography was supposed to inject the necessary security to each transaction, and obviate the need for trusted institutions — but […]
SEC’s WhatsApp Probe Reaches Into PE With Apollo, Carlyle, KKR – Bloomberg
Financial regulators are looking at the biggest private equity firms’ use of WhatsApp and other messaging apps for work, in a signal that the US is ramping up its push to police Wall Street’s electronic communications. Apollo Global Management Inc., Carlyle Group Inc. and KKR & Co. said in regulatory filings this week that they […]
Binance’s Zhao vanquishes crypto rival Bankman-Fried with FTX deal – The Washington Post
The billionaires who run the two largest crypto trading platforms have set themselves apart from one another at every turn, often acidly. That rivalry reached a surprise conclusion on Tuesday. Not long after Zhao posted a tweet criticizing FTX’s crypto tokens and lobbying efforts, Bankman-Fried unexpectedly announced that Binance probably would acquire FTX. “I’m sorry […]
Binance to Buy FTX in Megadeal of Crypto Exchanges – The New York Times
The cryptocurrency world was rocked on Tuesday as one of the largest exchanges for digital currencies, seemingly on the verge of collapse, was bailed out by a major rival in a deal that underlined the perils of the industry’s volatility. Binance, the world’s largest cryptocurrency exchange, said it had reached an agreement to buy its […]