Daily Archives: April 3, 2024, 3:44 pm

SEC Charges Advisory Firm Senvest Management with Recordkeeping and Other Failures

The Securities and Exchange Commission today announced charges against registered investment adviser Senvest Management LLC for widespread and longstanding failures to maintain and preserve certain electronic communications. The SEC also charged Senvest with failing to enforce its code of ethics. To settle this matter, Senvest admitted the facts set forth in the Commission’s order, acknowledged that its conduct violated the…

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Sam Bankman-Fried prosecutor says coder’s cooperation sped up case | Reuters

U.S. prosecutors were able to charge FTX founder Sam Bankman-Fried shortly after the cryptocurrency exchange’s collapse in part because they secured the cooperation of its chief software engineer, one of the prosecutors said on Tuesday. Speaking five days after Bankman-Fried was sentenced to 25 years in prison, Assistant U.S. Attorney Thane Rehn said former FTX Chief Technology Officer Gary Wang’s…

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S&P 2023 Report: Women Lose Senior Roles To Men In US Companies – Bloomberg

Women accounted for 11.8% of the approximately 15,000 C-suite roles in the S&P Global Total Market Index in 2023, researchers at the data provider said, down from 12.2% the previous year. That suggests women ceded about 55-60 positions with ‘chief’ in the title to men last year. Though the absolute decline may seem small, it’s significant considering women’s representation in…

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SEC Bribery Unit Probes Technology Companies’ Use of Contractors – Bloomberg

The US Securities and Exchange Commission is asking publicly traded tech companies about their relationships with distributors and other business partners outside the US in a push to root out possible corruption, according to people familiar with the matter. The SEC started sending letters to the firms earlier this year under its mandate to enforce the Foreign Corrupt Practices Act,…

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The SEC’s Shot Across the Bow on ‘AI Washing’

The SEC is right to be aggressive. As of Jan. 18, there were 353,928 .ai domain names registered. How many of those 353,928 domains belong to a company that actually uses AI? Admittedly, AI is a broad category. IBM, for example, defines AI as “technology that enables computers and machines to simulate human intelligence and problem-solving capabilities.” When, as one…

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A Hedge Fund That’s Also a Newspaper – Bloomberg

One way to think of this business model is that Hunterbrook is essentially an activist short-selling hedge fund, like Hindenburg Research: It investigates companies, finds problems, shorts the companies, and then noisily publishes its investigation to draw attention to the problems. But whereas Hindenburg is straightforwardly a short-selling firm, Hunterbrook’s news site is at least theoretically independent of its hedge…

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Autodesk Falls After Disclosing Internal Probe Into Accounting

Autodesk Inc. fell by the most in almost a month after disclosing an internal investigation into its own accounting practices and putting off the release of its annual financial report. The San Francisco-based software maker received information that has prompted “an internal investigation with the assistance of outside counsel and advisors,” Autodesk said in a filing late Monday. The probe…

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