U.S. accounting firms including RSM US, Moss Adams, Bain Capital-backed Sikich and Apax Partners-backed CohnReznick are expanding their operations in India to tackle an acute shortage of accountants at home. The surge in recruitment has started boosting enrolment in specialised commerce courses in India, and could establish Asia’s No. 3 economy as a hub for accounting talent, reminiscent of the…
A new wave of major U.S. and European companies, including General Motors, JetBlue, Snap and Volvo, are warning that the trade war’s unknowable course and consequences make it futile to forecast future performance. GM, JetBlue and Volvo all shelved earlier profit guidance for 2025 due to economic uncertainty. The shape-shifting nature of President Trump’s automotive duties have clouded the outlook,…
Chicago’s new US Attorney has no plans to de-emphasize prosecution of public corruption and financial crimes in light of directives from Washington to prioritize violence, drug cartels and immigration, he told reporters Tuesday. “Just because we’re talking about areas of priority, it does not mean – I want to repeat, it does not mean – we’re going to shutter or,…
With respect to crypto, a variety of actions have been taken: – Commissioner Peirce is leading the SEC Crypto Task Force with mission of providing regulatory clarity for crypto assets. – The SEC has solicited feedback held several roundtables on crypto regulatory issues. – SAB 121 was rescinded by SAB 122. – The Staff has issued statements on meme coins,…
The Securities and Exchange Commission today announced charges against Dallas-Fort Worth residents Kenneth W. Alexander II, Robert D. Welsh, and Caedrynn E. Conner for operating a Ponzi scheme that raised at least $91 million from more than 200 investors. According to the SEC’s complaint, between approximately May 2021 and February 2024, Alexander and Welsh operated the scheme through a trust…
It has now been over five years since the initial COVID-19 outbreak in the U.S. in March 2020, but the pandemic’s disruptive effects continue reverberate through the economy. In a newly filed securities lawsuit against auto rental company Avis Budget Group, investors claim that the company concealed an auto fleet-related business move that the company made because of earlier pandemic-caused…
Kramer Levin announced today that Jilan J. Kamal, a former Assistant United States Attorney with the U.S. Attorney’s Office for the Southern District of New York (SDNY), has joined the firm as a partner in its nationally recognized Litigation Department and White Collar and Government Investigations Group. Jilan will litigate a range of white-collar matters, with a focus on complex…
The Trump administration is bringing significant personnel and policy changes across the federal government’s financial regulators. President Donald Trump has signed an executive order putting agencies and regulators—such as the Securities and Exchange Commission—under direct presidential oversight. Cryptocurrency regulation is already undergoing a significant change in enforcement priorities. The Trump administration appears to have reversed the SEC’s course on aggressively…
The US audit regulator on Monday said a House Republican plan to dismantle the agency and hand over its duties to the SEC would weaken a critical backstop that protects investors. “The unique experience and expertise built up by the PCAOB over decades cannot simply be cut and pasted without significant risk to investors at a time when markets are…
An Oregon retiree was ordered to spend a year behind bars for conspiring with a Nuveen LLC trader in a $47 million insider trading scheme — a case flagged by a controversial SEC tracking tool the Trump administration is considering reining in. Alan Williams, 79, was sentenced Monday by a federal judge in Manhattan. Both he and the former Nuveen…