Daily Archives: December 16, 2022, 9:27 am

Nikola’s Trevor Milton Seeks New Trial, Saying Juror Lied to Be Chosen – Bloomberg

 Nikola Corp. founder Trevor Milton asked for a new trial on charges he misled investors about the electric truck maker’s prospects, arguing the jury convicted him due to bad instructions from the judge and because one juror lied to get on the panel. Milton was found guilty in October of securities and wire fraud following a monthlong trial, a remarkable…

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New York Financial Regulator Issues Crypto Guidance for Banks – WSJ

New York’s financial regulator said banks looking to enter the cryptocurrency space need to first seek approval from the regulator. The New York Department of Financial Services, in a guidance document published Thursday, said it would assess new crypto-related activities proposed by financial institutions based on potential risks they may pose to the banks and consumers, and detailed the process…

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A Traditional Exchange? FTX Was Anything But. – The New York Times

Cryptocurrency trading platforms like FTX have acquired a sheen of legitimacy in recent years by billing themselves as exchanges — creating an association with staid and trusted financial institutions like the New York Stock Exchange and Nasdaq. But the implosion of FTX shows just how different crypto exchanges are from their more well known, and highly regulated, counterparts. The latter…

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PCAOB Secures Complete Access to Inspect, Investigate Chinese Firms for First Time in History | PCAOB

For the first time in history, the PCAOB has secured complete access to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong. And this morning the Board voted to vacate the previous determinations to the contrary. This historic and unprecedented access was only possible because of the leverage Congress created by passing the Holding Foreign…

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