Daily Archives: July 2, 2024, 9:19 am

Next attack on federal agency power is already before the US Supreme Court | Reuters

In a little-noticed June 14 petition to the justices, two educational groups that brought a Freedom of Information Act lawsuit against the U.S. Consumer Products Safety Commission asked the Supreme Court to take up the question of whether precedent dating back to 1935 shields commissioners heading modern-day federal agencies from being fired at the whim of the U.S. president. ***…

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SEC Charges Silvergate Capital, Former CEO for Misleading Investors about Compliance Program

The Securities and Exchange Commission today charged Silvergate Capital Corporation, its former CEO Alan Lane, and former Chief Risk Officer (CRO) Kathleen Fraher with misleading investors about the strength of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program and the monitoring of crypto customers, including FTX, by Silvergate’s wholly owned subsidiary, Silvergate Bank. The SEC also charged Silvergate and its…

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Donald Trump, crypto take aim at SEC as Biden allies raise alarms

In recent weeks, crypto investors have raised several names of potential nominees for SEC commissioner, in the event that Trump is elected to a second term, according to three people who have knowledge of the conversations. These names include two former chairs of the Commodity Futures Trading Commission during the Trump administration: J. Christopher Giancarlo and Heath Tarbert. Another name…

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Chairman of Publicly Traded Health Care Company Convicted of Insider Trading

A federal jury in Los Angeles convicted the former CEO, executive chairman, and chairman of the board of directors of Ontrak Inc., a publicly traded health care company, for engaging in an insider trading scheme using Rule 10b5?1 trading plans. “When Terren Peizer learned significant negative news about Ontrak, he set up Rule 10b5-1 trading plans to sell shares before the…

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