Daily Archives: January 11, 2023, 7:41 pm

SEC sues Covington law firm for names of 300 clients caught up in hack | Reuters

The U.S. Securities and Exchange Commission has sued law firm Covington & Burling for details about nearly 300 of the firm’s clients whose information was accessed or stolen by hackers in a previously undisclosed cyberattack, court documents show. Hackers associated with the Hafnium cyber-espionage group, which has alleged ties to the Chinese government, gained access to Covington’s computer networks around…

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FTX recovers $5 billion in cash and crypto to repay customers – The Washington Post

Collapsed cryptocurrency exchange FTX says it has recovered more than $5 billion worth of cash and crypto assets it may be able to sell to help repay customers and investors, an attorney for the company told a Delaware bankruptcy court on Wednesday. Company advisers have identified a significant amount of crypto that it will be more difficult to sell without…

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Paul Munter Named Chief Accountant

The Securities and Exchange Commission today announced that Paul Munter has been appointed Chief Accountant. He has served as Acting Chief Accountant since January 2021. As Chief Accountant, Mr. Munter will continue to lead the Office of the Chief Accountant (OCA) and serve as the principal advisor to the Commission on accounting and auditing matters. He also will be responsible…

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FTX Bankruptcy Law Firm Is Wrong Fit for Role, Senators Say

FTX lead bankruptcy counsel Sullivan & Cromwell is wrong for its role because the firm’s prior work for the crypto exchange raises impartiality concerns, four US senators said. “The firm is simply not in a position to uncover the information needed to ensure confidence in any investigation or findings,” Sen. John Hickenlooper (D-Col.) and three colleagues wrote. They questioned whether…

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What’s the Legal Definition of Greenwashing? Green Insight – Bloomberg

For example, a company says it’s reducing its carbon footprint—but fails to say that the calculation excludes massive emissions produced by its customers or suppliers. Or an asset manager overhypes the environmental, social and governance standards it uses to allocate clients’ money. But know-it-when-you-see-it doesn’t translate well into statutory authority. “The battle to stamp out greenwashing continues to be foiled by the lack of…

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SPAC-Squared Is Wall Street’s Latest Wheeze – Bloomberg

Just when you think you’ve seen it all in SPAC-land, along comes a money-losing company that only recently went public via a blank-check firm announcing a merger with a second special-purpose acquisition company to save its skin. SPAC-squared, if you like. Wejo Group Ltd., a British connected-vehicle data company, became a public company in November 2021 after combining with Virtuoso Acquisition…

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Crypto.com Delists Tether’s USDT Stablecoin for Canadian Users

Crypto.com, one of the world’s top exchanges by volume, will delist Tether’s dollar-linked stablecoin, USDT, from its trading platform for users in Canada, according to an email sent by the firm to customers. The company made the decision “in accordance with instructions from the Ontario Securities Commission (OSC) as part of our pre-registration undertaking for a restricted dealer license,” a…

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