Citigroup Inc. almost shifted about $6 billion to a customer’s account by accident after a staffer handling the transfer copied and pasted the account number into a field for the dollar figure. The near-miss in Citigroup’s wealth-management business magnified the intended amount by more than a thousand times and was detected on the next business day, according to people familiar…
Bruce Carton of Securities Docket has labelled the SEC’s radical crypto-turnabout a “Reverse-Sweep” (antithetical to the SEC’s enforcement sweeps of yesteryear) while lone Democratic SEC Commissioner Caroline Crenshaw has ridiculed the new SEC posture as “regulation by non-enforcement.” Whatever the new catch-phrase or nomenclature, the SEC’s comprehensive and indiscriminate dismantling of its crypto-enforcement program is not just unprecedented and irresponsible…
Coinbase submitted a Freedom of Information Act request on Monday to the U.S. Securities and Exchange Commission to account for how much its “regulation-by-enforcement campaign waged against crypto companies under former Chair Gary Gensler” has cost taxpayers. […] Jason H. Gart, vice president of research firm History Associates Inc., wrote on behalf of Coinbase that it has reviewed the SEC’s…
The U.S. Securities and Exchange Commission is offering some employees $50,000 if they choose to resign or to retire under an early retirement program, according to an agency memo seen by Reuters. The SEC and other federal agencies have been looking at ways to cut staff and costs to meet demands from President Donald Trump’s administration. SEC employees have until…
The Securities and Exchange Commission’s Los Angeles and Philadelphia regional offices could close in coming months as part of an effort by the General Services Administration to reduce federal government office space and related costs. The GSA plans to terminate those two leases, the SEC’s Chief Operating Officer Ken Johnson told staff in an email Monday that was reviewed by…
Staff members at the U.S. Securities and Exchange Commission have “agreed in principle” to drop their lawsuit against the cryptocurrency exchange Kraken, signaling a “turning point” for U.S. crypto regulation under the Trump administration, the company announced Monday. The financial regulator has in recent weeks dismissed or paused several cases against cryptocurrency platforms, including Robinhood’s crypto unit, as the Trump…