Daily Archives: May 9, 2023, 5:41 pm

Ex-Coinbase Manager Ishan Wahi Sentenced to 2 Years for Insider Trading – Bloomberg

A former Coinbase Global Inc. manager was ordered to spend two years in federal prison for trading on confidential information about when the cryptocurrency exchange was going to list new tokens. US District Judge Loretta Preska pointed to “a massive abuse of Mr. Wahi’s employer’s trust” over 10 months in sentencing him Tuesday in Manhattan. “It was not just a…

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Who is the $279mn whistleblower? | Financial Times

Last week the SEC awarded someone a record-smashing $279mn for blowing the whistle on some nefarious activity that “led to the successful enforcement of SEC and related actions”. But who, and for what? That’s what Alphaville has been pondering over the weekend. That may sound beyond tragic, but from some of the texts we’ve been receiving on the subject we…

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The Supreme Court Case That Could Threaten the SEC’s Climate-Disclosure Rule – WSJ

The high court last week said it would reconsider Chevron v. Natural Resources Defense Council, a 1984 Supreme Court opinion that gives regulators legal cover to interpret ambiguous—and sometimes outdated—statutes. The court’s conservative majority appears poised to overturn or narrow Chevron, a move that would weaken the Biden administration’s ability to defend its regulatory agenda, including a rule requiring public companies…

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The SEC Awakens to Cybersecurity With the Zeal of a Convert | New York Law Journal

After a quarter-century of relative cyber slumber—a period of guidance and enforcement action, certainty, but no rule-making—the SEC is approaching information security with a convert’s zeal. In a January 2022 speech, SEC Chair Gary Gensler referenced remarks made by the director of the Cybersecurity and Infrastructure Security Agency (CISA), Jen Easterly, who had observed that “cybersecurity is a team sport.”…

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Sam Bankman-Fried, in First Detailed Defense, Seeks to Dismiss Charges – The New York Times

Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX, has issued his first detailed legal defense since prosecutors accused him of fraud, seeking to dismiss several of the charges and claiming that the high-powered law firm representing FTX in its bankruptcy has been doing the government’s bidding. In court filings late Monday, lawyers for Mr. Bankman-Fried said FTX and…

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ESG M&A – Bloomberg

Environmental, social and governance investing is not quite like that: ESG criteria tend to be imposed by shareholders, so a company that pursues ESG goals is giving (many of) its shareholders what they want. Still, to the extent there are trade-offs between financial returns and ESG criteria, the directors and executives, rather than the shareholders, will often in practice be the…

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