‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC Considers Changes to Trump-Era Rules – WSJ
Among the regulations that the SEC plans to revisit are amendments to its whistleblower award program and a rule requiring oil, gas and mining companies to disclose payments made to foreign governments. Both rules were passed late last year over opposition by the agency’s Democrats. The decision to revisit the rules is part of the […]
Mark Lytle, highly accomplished federal prosecutor, joins Nixon Peabody – Nixon Peabody
Nixon Peabody LLP announced that Mark D. Lytle, a highly accomplished former federal prosecutor and white-collar trial attorney, is joining the firm as a partner in the Government Investigations & White-Collar Defense practice, based in Washington, DC. As chief of the Financial Crimes and Public Corruption Unit in the U.S. Attorney’s Office for the Eastern […]
‘Another Avenue Plaintiffs Have Pivoted To’: The Rise of SPAC-Related Securities Litigation is New, but Maybe Not Novel | National Law Journal
Saltzstein discusses why we’re now seeing more lawsuits targeting these transactions despite the fact that SPACs themselves are not new. In her estimation, the allegations in these cases are not unique or groundbreaking, but the trend is being driven by the plaintiffs bar turning its attention toward SPACs perhaps simply because of the sheer number […]
Bitcoin Backers Losing Hope in Washington Amid Ransom, Volatility – Bloomberg
Just a few months ago, crypto enthusiasts were hopeful that Washington was warming to digital assets. But cyberattacks demanding Bitcoin ransoms, wild trading and rebukes from regulators have eroded their optimism. The timing couldn’t be worse. Policy makers are poised to make a number of critical rulings on virtual tokens in the coming months — […]
How the FBI Got Colonial Pipeline’s Ransom Money Back – WSJ
After Colonial Pipeline Co. on May 8 paid roughly $4.4 million in cryptocurrency to hackers holding its computer systems hostage, the Federal Bureau of Investigation followed the digital money. Over the next 19 days, court records show, a special agent watched on a publicly visible bitcoin ledger as hackers transferred the 75 bitcoins to other […]
New Bitstamp CCO to Guide Exchange Through ‘Evolving Regulatory Landscape’ – CoinDesk
For his new employer Hook is charged with maintaining a dialogue with global regulators, based on his prior risk and compliance experience. Hook’s main focus has been in AML, KYC, sanctions compliance and financial investigations in traditional finance as well as in crypto, per a LinkedIn page. Hook began his career as an assistant district […]
Bitcoin, Other Crypto Assets Targeted for Stiff Banking Regulation – WSJ
The top global standard setter for banking regulation proposed a strict new rule that would require banks to essentially set aside a dollar in reserves for every dollar of bitcoin they own. The Basel Committee for Banking Supervision, a group of global central bankers and regulators, announced the plan Thursday in a public consultation about […]
Bitcoin, other crypto ETFs face another hurdle in the U.S. with the ‘Sunday effect’ | Fortune
Digital currency enthusiasts are anxiously awaiting a regulatory decision on crypto exchange-traded funds in the U.S.—but there’s a drawback American asset managers will face, regardless: market hours. ETFs, by definition, trade on exchanges, which are subject to workweek-hour trading restrictions. Cryptocurrencies, on the other hand, can be bought and sold at all hours of the […]
Biden’s SEC budget request inadequate as agency tackles ambitious agenda, financial watchdogs say – MarketWatch
Biden’s overall fiscal 2022 budget proposal calls for roughly $6 trillion in spending, a 35% increase from pre-pandemic, 2019 spending of $4.4 trillion, but requests only a 5% increase from the 2021 fiscal-year request for the Securities and Exchange Commission — below the average budget increase over the past 25 years. Advocates for financial reform […]
SEC Is Running Out of Options to Rein In Elon Musk – WSJ
Many small shareholders revel in Mr. Musk’s willingness to stiff-arm regulators. Others are weary of the spectacle. Ross Gerber, chief executive of Gerber Kawasaki Wealth and Investment Management, a Tesla shareholder, said he would like to see the company’s board of directors step in to moderate Mr. Musk’s behavior on Twitter. “I’m disappointed with the […]