SEC commissioner Hester Peirce said she is concerned that the agency is not prepared for a presidential administration that is more hospitable to crypto in an interview on the Block and Order podcast published last week but recorded six days before the election. The subsequent victory by Donald Trump, who has promised clearer crypto regulation under his presidency, added urgency…
A former examiner and senior banking supervisor at the Federal Reserve Bank of Richmond illegally traded using nonpublic information about Capital One Financial Corp. and New York Community Bancorp Inc., the Securities and Exchange Commission said. Robert Brian Thompson’s personal brokerage trading activity allegedly violated prohibitions on trading in bank securities, given the conflicts of interest his supervisory and regulatory…
Foley & Lardner LLP announced today that Jose Sanchez has joined the firm’s Los Angeles office as a partner in its Securities Enforcement & Litigation Practice Group, adding to Foley’s deep bench of seasoned regulatory, investigations, and trial attorneys. Sanchez comes to Foley after nearly six years in the Office of General Counsel at Deloitte Global, where he served as…
SEC officials will be watching closely to see what details US companies provide investors about their ongoing reliance on artificial intelligence or how they are developing the fast-emerging technology. AI isn’t explicitly mentioned in Securities and Exchange Commission rules, yet could still trigger corporate disclosures throughout the financial report from the description of the business, to its risks, to management’s…
It is now well-recognized, as Bloomberg columnist Matt Levine has famously said, that “Everything Everywhere is securities fraud.” Just the same, it does come as a surprise sometimes to see the things that make their way into securities class action lawsuit complaints. In the latest example of this phenomenon at work, a plaintiff shareholder has filed a securities class action…