Daily Archives: February 7, 2023, 9:25 am

Robinhood Hits Back at SEC, Warns of Threat to Zero-Commission Trading – WSJ

In Robinhood’s first extended comments about the SEC’s proposals since their release in December, two company executives, in an interview with The Wall Street Journal, called the agency’s plan a backdoor attempt to ban payment for order flow, or PFOF. That is a practice in which electronic trading firms known as wholesalers pay brokers a share of their profits from…

Read More

Dissent by SEC Commissioner Hester M. Peirce  | The SEC Levels Up: Statement on In re Activision Blizzard

It is also difficult to see where the logic of this Order stops. When the SEC gets this granular, the limits are not clear. If workplace misconduct must be reported to the disclosure committee, so too must changes in any number of workplace amenities and workplace requirements, and so too must any multitude of factors relevant to other risk factors.…

Read More

Crypto firms ditch Super Bowl commercials this year after FTX meltdown

Crypto dominated the conversation at last year’s Super Bowl, with four firms — FTX, Coinbase, Crypto.com and eToro — plunking down millions of dollars for 30 seconds of ad time and spending millions more on star-studded commercials featuring the likes of comedian Larry David and NBA superstar LeBron James. But this Sunday’s broadcast of Super Bowl LVII won’t feature a single…

Read More

Defendants Ishan and Nikhil Wahi’s Motion to Dismiss

This case is about the rule of law and whether the most powerful entity in our society—the United States Government—must abide by the law when it brings its power to bear against a person. In this case, the Securities and Exchange Commission (“SEC”) is trying to seize broad regulatory jurisdiction over a massive new industry via an enforcement action against…

Read More