Daily Archives: July 10, 2023, 8:25 am

Statement Regarding Amicus Brief Filing in Murray v. UBS Securities, LLC

In our view, the Commission’s process for deciding whether to join the Solicitor General’s amicus brief did not facilitate full and careful consideration of the recommendation.  Some context should be provided.  At the same time the Commission was asked to review the amicus brief, the Commissioners were asked to consider and provide feedback on two major rulemakings that will be…

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Binance and BNB Feel Strain of World’s Regulators Leaping Into Action

Australian officials directly sought out current and former employees of Binance’s operation there this week, demanding copies of internal communications and data from their personal devices, according to a person familiar with the government’s move against the leading crypto exchange, which marked the latest in a pile-up of legal troubles facing the company. *** From weighty accusations by U.S. regulators,…

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Crypto pledged to dethrone Wall Street. It’s getting swallowed instead – The Washington Post

The cryptocurrency industry built a cultlike fan base in the United States by promising to break Wall Street and Washington’s joint grip on the financial system. But as the sector weathers a steep decline and faces tough new scrutiny from the SEC, some of Wall Street’s biggest names are trying to enfold it. The developments place the industry at a…

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ESG Enforcement Emerges as Risk for Oil Firms, Bitcoin Miners

An SEC enforcement initiative targeting misleading ESG disclosures has become a business risk for dozen of public companies, including bankrupt Bitcoin miner Core Scientific, shale oil producer Pioneer Natural Resources and banking giant Ally. The Climate and ESG Task Force the Securities and Exchange Commission, which was launched two years ago, was mentioned among the risk factors in 30 companies’…

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Analysis: U.S. crypto lobbyists court Democrats in fresh legislative push | Reuters

Lobbyists are focused on a discussion draft bill by the Republican chairs of the House Financial Services and Agriculture committees, Patrick McHenry and Glenn Thompson respectively, which would define when a cryptocurrency is a security or a commodity. It would expand the Commodity Futures Trading Commission’s (CFTC) oversight of the crypto industry, while clarifying the SEC’s jurisdiction. It is the…

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Disney, Fiduciary Duties, Business Judgment, and Corporate ESG-Related Actions | The D&O Diary

As I have noted in prior posts, conflicting political views about ESG-related issues have put corporate executives in the crosshairs, a dilemma that has caused some companies to try to avoid ESG issues altogether – a phenomenon that has been described as “greenhushing.” Among other concerns troubling corporate officials about the entire ESG debate is that some politicians have publicly…

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