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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInEric R. Werner Named Director of Fort Worth Regional Office
The Securities and Exchange Commission today announced that Eric R. Werner has been named Regional Director of the Fort Worth Regional Office, effective immediately. Mr. Werner is currently the Acting Co-Regional Director and has served as the Associate Regional Director of Enforcement in the Fort Worth office since 2018. He succeeds David L. Peavler, who […]
Terra Co-Founder Shin, Nine Others Indicted by South Korea – Bloomberg
South Korea indicted Terraform Labs co-founder Daniel Shin along with nine others on multiple charges including violations of capital markets law related to the Terra cryptocurrency project, which imploded last year. Prosecutors froze 246.8 billion won ($184.7 million) in assets from the people so far, Dan Sung Han, the head prosecutor who leads the financial […]
Succession – Bloomberg
I have occasionally tried to understand the capital structure, valuation, corporate governance and shareholder base of Waystar Royco, the Roy family’s publicly traded conglomerate on the TV show Succession, but I quickly find myself frustrated by some contradiction that doesn’t make much sense, and then I remind myself that it’s a TV show and nobody cares […]
Failed Bank Execs Dodge Pay Clawbacks as Tougher Remedies Sought
Last year, Silicon Valley Bank CEO Greg Becker was paid nearly $10 million in total compensation while Signature Bank CEO Joe DePaolo received $8.6 million in total compensation. Their wallets, for now, are safe. The bank bosses fell through the cracks of federal rules for retracting executive pay, say some Washington officials who are pushing […]
Celsius, Voyager Creditors Battle Bankruptcy Bureaucracy – Bloomberg
A certain breed of retail investors piled their money into crypto for its anti-establishment qualities. Avoiding big banks or hidebound regulators sweetened the taste of uncanny returns. Crypto firms stoked that sentiment, pulling in investor money by promising a world of “unparalleled economic freedom,” as Celsius Network put it, or to make “crypto for all” […]
‘Crypto is dead in America,’ says tech investor Chamath Palihapitiya
Tech investor Chamath Palihapitiya, who said two years ago that bitcoin has replaced gold and predicted the digital currency would climb to $200,000, has a much more cautious view on cryptocurrencies these days. “Crypto is dead in America,” Palihapitiya said in the latest episode of the All-In podcast. Palihapitiya blamed crypto’s demise largely on regulators, […]
Guest Post: Underwriting Risk and Sovereign Wealth Fund Investment in U.S. Private Equity | The D&O Diary
Institutional investors have been aggressively seeking out opportunities to direct and co-invest in recent years to have more control of private equity (PE) transactions and bypass hefty fees charged by commingled PE funds. These funds have a similar fee structure to that of hedge funds, typically consisting of a management fee (generally 2%) and a […]
Crypto Exchange Coinbase Asks for Court to Force SEC Response to 2022 Rulemaking Petition
Crypto exchange Coinbase (COIN) has asked a federal court to force the U.S. Securities and Exchange Commission (SEC) to respond to a petition it filed last year asking for formal rulemaking within the digital assets sector. Coinbase filed an Administrative Procedure Act challenge against the U.S. Securities and Exchange Commission Monday, asking the Third Circuit […]