Daily Archives: February 8, 2024, 9:19 am

NBA Sued Over Deal With Failed Crypto Exchange Voyager – Bloomberg

The National Basketball Association was hit with a lawsuit over its marketing links to failed crypto exchange Voyager Digital Holdings Inc., which investors claim led to $4.2 billion in losses. The NBA was “grossly negligent” in agreeing to a marketing deal between Voyager and Mark Cuban, the former owner of the NBA’s Dallas Mavericks, the investors alleged in a suit…

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FINRA Enforcement Authority Turns on Looming Appeals Court Fight

Wall Street’s self-regulator will defend its ability to conduct enforcement activities before a US appeals court Thursday in a case it’s calling an existential threat. Alpine Securities Corp. says the Financial Industry Regulatory Authority acts as a governmental entity and violates constitutional provisions that are applicable to it when it takes on an enforcement role. And if FINRA isn’t a…

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Some advice so the SEC doesn’t get caught with its crypto pants down

The Securities and Exchange Commission (SEC) needs people with the expertise to oversee so-called crypto assets like bitcoin. The Government Accountability Office (GAO) found that the SEC needs to update its workforce planning strategy in order to ensure it has the crypto experts it needs. For more, the Federal Drive with Tom Temin spoke with GAO’s Director of Financial Markets…

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SEC Charges TradeStation Crypto for Unregistered Offer and Sale of Crypto Asset Lending Product

The Securities and Exchange Commission today announced charges against TradeStation Crypto, Inc., based in Plantation, Florida, for failing to register the offer and sale of a crypto lending product that allowed U.S. investors to deposit or purchase crypto assets in a TradeStation account in exchange for the company’s promise to pay interest. To settle the SEC’s charges, TradeStation agreed to…

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AI Disclosures to SEC Jump as Agency Warns of Misleading Claims

Allstate Corp., Starbucks Corp., and other major companies are talking more about artificial intelligence in disclosures to investors—and securities regulators are paying close attention. Just over 40% of S&P 500 companies mentioned AI in their most recent annual report with the Securities and Exchange Commission, according to Bloomberg Law’s review of the disclosures. That continues an upward trend since 2018,…

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