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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInHe Wrote the Book on Bernie Madoff | Tufts Now
Ponzi schemes inevitably fail. Madoff must have realized this; did he feel like he was just in too deep? His legitimate business was making money on commissions, which they earn whether the market was up or down. But at the very beginning of his career, as a sideline he invested some customers money, originally like […]
Warren, Wyden Push Regulator for Crypto Audit Crackdown
Two high-ranking Democrats on the Senate Finance Committee accused the US audit regulator Wednesday of ignoring the work of large accounting firms in “whitewashing ‘audit’ results for crypto firms,” jeopardizing investor confidence in public company audits. Senators Ron Wyden, who chairs the finance committee, and Elizabeth Warren urged the Public Company Accounting Oversight Board to […]
Short Seller Nate Anderson’s Hindenburg Targets Billionaire Gautam Adani – Bloomberg
Over the past few years, Nathan Anderson has made a name with analysis that sends stocks sinking. Now the activist short seller behind Hindenburg Research is going after his biggest game yet — what Hindenburg is calling, with characteristic chutzpah, “The Largest Con in Corporate History.’’ His target: Indian industrialist Gautam Adani, a figure even richer than Bill […]
Morgan Stanley Fines Bankers More Than $1 Million Over Messaging Breaches – Bloomberg
Morgan Stanley fined some of its own bankers more than $1 million each for conducting business on WhatsApp and other messaging platforms, the latest fallout from an industrywide probe that saw US regulators impose the record penalties for monitoring lapses. The funds have either been clawed back from previous bonuses or will be docked from […]
Not Lovin’ It: SEC’s Settlement With McDonald’s Former CEO Highlights Continued Focus on Executive-Related Disclosures | Vinson & Elkins LLP
The Order is instructive for both executives and issuers. For one, the Order demonstrates that public company executives must tell the full truth in internal investigations—even when doing so may have professional and personal implications. Failure to be candid may lead not only to civil enforcement by the SEC but also—like it did for Easterbrook—a […]
Crypto Industry ‘Scared of a Strong SEC’: Sen. Elizabeth Warren – Decrypt
Massachusetts Senator Elizabeth Warren had strong words for the crypto industry on Wednesday, calling on the U.S. Securities and Exchange Commission to do more to fight crypto fraud. In prepared remarks delivered before the American Economic Liberties Project, Warren said industry players are “scared of a strong SEC.” “The SEC has brought enforcement actions against celebrity […]
UK: Former Janus Henderson Analyst Charged With Insider Dealing
UK authorities have charged a former Janus Henderson analyst and four others outside the asset manager with illegally using inside information to make trades that earned £1.5 million, or $1.8 million, in profits. The former analyst, 35-year-old Redinel Korfuzi, is accused of insider dealing between December 2019 and March 2021, the Financial Conduct Authority said […]
Kevin Rose’s NFT Wallet With 40 High-Value Collectibles Hacked
Kevin Rose, CEO and co-founder of non-fungible token (NFT) collective Proof, tweeted on Wednesday that his personal wallet had been hacked. In a tweet, Rose advised his 1.6 million followers to avoid buying any Chromie Squiggles, a generative art NFT project by Art Blocks founder Erick Calderon, aka Snowfro. Source: Kevin Rose’s NFT Wallet With […]