Daily Archives: April 16, 2023, 8:44 am

Victory! U.S. Supreme Court Holds that Federal District

In an historic ruling, the U.S. Supreme Court this morning held that Texas Accountant Michelle Cochran has the right to challenge the constitutionality of her Administrative Law Judge’s (ALJ) removal protections in federal court before undergoing an administrative adjudication. Writing unanimously for the Court, Justice Kagan’s opinion stated, “The statutory review schemes set out in the Securities Exchange Act and…

Read More

SEC.gov | Rendering Innovation Kaput: Statement on Amending the Definition of Exchange

The release does not seriously consider whether compliance is possible. During my time as a Commissioner, this agency repeatedly has urged firms seeking to sell crypto tokens or build crypto businesses to come in and register. Many firms have responded to this call; they have engaged with staff and Commissioners intensively to determine whether they need to register and, if…

Read More

SEC’s Gensler slams digital-asset industry for ‘ignoring the law’ as crypto crackdown continues | Morningstar

Crypto platforms ‘are acting as if they have a choice to comply with our laws,’ Gensler said. U.S. financial regulators appear set to tighten the screws further on the digital asset industry, with Securities and Exchange Commission Chairman Gary Gensler taking the lead in an ongoing crackdown on illegal crypto activities. The SEC voted Friday to issue supplemental guidelines on…

Read More

The End of Faking It in Silicon Valley – The New York Times

Take what happened in the past two weeks: Charlie Javice, the founder of the financial aid start-up Frank, was arrested, accused of falsifying customer data. A jury found Rishi Shah, a co-founder of the advertising software start-up Outcome Health, guilty of defrauding customers and investors. And a judge ordered Elizabeth Holmes, the founder who defrauded investors at her blood testing…

Read More