‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC Disagreement Emerges on Whether Ethereum Is a Security | Crypto Briefing
Dugan Bliss, senior trial counsel at the SEC, said that the agency had not taken an official position on Ether. The attorney disregarded previous claims made by Bill Hinman, former director of the SEC’s Division of Corporation Finance, who suggested that offers and sales of ETH are not securities transactions. “Now, there was a speech by a high-ranking […]
SPAC Transactions: Enforcement and Litigation Risks | Arnold & Porter
In the first three months of 2021, there have been approximately 300 initial public offerings (IPOs) of special purpose acquisition companies (SPACs) that have raised $100 billion, which are significant increases over the record number of transactions and amounts raised in all of 2020. Inevitably, the growth in SPAC deal activity has attracted scrutiny from […]
Credit Suisse Takes $4.7 Billion Hit on Archegos Meltdown – WSJ
Credit Suisse Group AG reported a $4.7 billion hit from the meltdown of Archegos Capital Management, slashed its dividend and said its investment banking and risk chiefs would leave the bank. The Swiss lender has been the hardest hit by the collapse late last month of Archegos, a U.S. family investment firm, suffering a major […]
Citi Hires FinCEN’s Blanco as Financial Crimes Compliance Chief – BNN Bloomberg
Citigroup Inc. hired Ken Blanco, the director of the Financial Crimes Enforcement Network, as its chief compliance officer of its newly created financial crimes unit. Blanco worked on combating financial crimes and enforcing regulations on money laundering and terrorism financing at FinCEN, a bureau in the Department of Treasury. Before that, he spent 29 years […]
Coinbase gets all-clear from SEC, setting stage for landmark crypto listing | Reuters
Coinbase Global Inc, the largest U.S. cryptocurrency exchange, has received approval from the U.S. Securities and Exchange Commission (SEC) to list its shares on the Nasdaq, paving the way for what will be a landmark victory for cryptocurrency advocates. The company, which plans to go public through a so-called direct listing, expects to list its […]
Asset management giant Fidelity files for a bitcoin ETF
A new filing with the U.S. Securities and Exchange Commission indicates that asset management giant Fidelity is seeking to create a bitcoin exchange-traded fund (ETF). The Wise Origin Bitcoin ETF is the latest entrant in a growing race to launch a bitcoin exchange-traded product in the United States. According to the filing, a firm called […]
Elon Musk says Tesla now accepts bitcoin as a payment method
Tesla’s founder and CEO Elon Musk has said the electronic car maker now accepts bitcoin as a payment method. Musk said in a tweet early Wednesday UTC time that “You can now buy a Tesla with Bitcoin.” Source: Elon Musk says Tesla now accepts bitcoin as a payment method
Leon Black quits leadership positions at Apollo | Financial Times
Leon Black has quit his leadership positions at Apollo Global Management, ceding power after the investment firm he co-founded 30 years ago became overshadowed by an outcry over his ties to the late paedophile Jeffrey Epstein. Former Securities and Exchange Commission chairman Jay Clayton will become non-executive chairman, a role that Apollo had previously indicated […]
CalPERS whittles CIO pool to 3 before calling off search
CalPERS had whittled the number of finalists for its next CIO to three, but announced Friday that it has suspended the search without making an offer and will pick it back up in June. Officials at the $439.5 billion pension fund plan to revisit the criteria for the job as well as the search process […]