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…
A proposal for a class action lawsuit is accusing Nike of engaging in a “rug pull” by shutting down operations for its RTFKT NFT platform. The suit was filed Friday in a Brooklyn federal court with Australian resident Jadeep Cheema leading the group of aggrieved customers for Nike’s digital sneakers. It argues that the value of the RTFKT tokens was based entirely on Nike’s promotional…
I guess it was possible that the new SEC would not bring any crypto fraud enforcement actions: Crypto fraud might no longer be the SEC’s problem. (I guess it was possible that the new SEC would not bring any fraud enforcement actions at all; I wrote in January: “What if the US Securities and Exchange Commission never brings another enforcement…
For years, two firms have dominated the business of telling investors how to vote in corporate elections. One wants out. Glass Lewis, the scrappier and smaller rival of Institutional Shareholder Services (ISS), is discussing a dramatic shift to essentially scrap its “house view” on ballot measures ranging from takeover battles to complaints about gender balance, political donations, and carbon emissions,…