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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInDOJ Getting Tougher with Companies on Messaging App Evidence
The Justice Department will dig into the ability of companies to produce employee communications on encrypted messaging apps like Signal and WhatsApp as part of criminal probes. “During the investigation if a company has not produced communications from those third-party messaging applications, our prosecutors will not accept that representation purely at face value,” department Criminal […]
SEC Targets Lose Defense to Data-Based Insider Trading Probes
An appeals court decision reviving an SEC insider trading case short-circuits what targets of agency probes based on data analysis and other circumstantial evidence hoped was a strike against such moves. A Virginia federal district court had abruptly ended the trial of Christopher Clark, a mortgage broker accused of trading on illicit tips ahead of […]
Grayscale and SEC Face Off in Court With a 46% Discount at Stake
The crypto world’s eyes will once again turn to Washington on Tuesday as oral arguments begin in Grayscale Investments’s lawsuit against the US Securities and Exchange Commission. The drama centers on the $14.8 billion Grayscale Bitcoin Trust (ticker GBTC), which has for two years been trading at a steep discount to the cryptocurrency it holds. […]
Texts From Crypto Giant Binance Reveal Plan to Elude U.S. Authorities – WSJ
Worried about the threat of prosecution, Binance set out on a plan to neutralize U.S. authorities, according to messages and documents from 2018 to 2020 reviewed by The Wall Street Journal as well as interviews with former employees. The strategy centered on building a bare-bones American platform, Binance.US, that would license Binance’s technology and brand […]
Why Would the SEC Want to Read Your Personal Texts? – WSJ
The SEC, however, can’t “investigate” this issue by examining companies’ records—companies have no records of these communications. So the agency is demanding, directly or indirectly, that the firms’ employees have their personal devices scoured for such records. Inevitably, though, some of those devices have very sensitive personal information that no one would want exposed to […]