‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInPaul, Weiss Expands Presence in Northern California With Four Prominent Lateral Partners | Paul, Weiss
Paul, Weiss, Rifkind, Wharton & Garrison LLP announced today that Melinda Haag, Walter Brown and Randy Luskey will join the firm as partners in the Litigation Department, and Jeremy M. Veit as a partner in the Corporate Department. The four additions will form the foundation for the new Paul, Weiss Northern California office, alongside litigation […]
Tesla buys $1.5 billion in bitcoin and plans to start accepting it as payment for products
Tesla announced Monday that it bought $1.5 billion worth of bitcoin, according to a filing with the SEC. The company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on our cash,” according to the filing. In addition to the purchase, Tesla said it would start accepting payments in bitcoin […]
Kelly L. Gibson Named Acting Deputy Director of Division of Enforcement
The Securities and Exchange Commission today announced that Kelly L. Gibson, currently the Director of the Philadelphia Regional Office, has been named the Acting Deputy Director of the Division of Enforcement. Source: SEC.gov | Kelly L. Gibson Named Acting Deputy Director of Division of Enforcement
What to Expect from a Gensler SEC? | News | Sidley Austin LLP
Earlier this year, President Biden announced Gary Gensler as his choice to lead the U.S. Securities and Exchange Commission (SEC). Gensler’s tenure as chairman of the Commodity Futures Trading Commission provides a glimpse into his possible agenda at the SEC. A focus on public company issues, ESG, disclosures, enforcement, digital assets guidance, and attention to […]
NYSE firms more likely to commit financial fraud, study finds
Researchers from a trio of universities (Washington State, Pennsylvania State, and Miami) studied 250 companies involved in Securities and Exchange Commission fraud filings from 2005 to 2013, and found that Fortune 500 companies were much more likely to have cooked books. Researchers looked closely for predictors of fraud, and found four risk factors : Fortune […]
How will Wall Street regulators handle GameStop? – The Washington Post
Any GameStop investigation will probably share similarities with those earlier Internet-era cases, according to John Stark, the first head of the SEC’s office of Internet enforcement. Many involved scam artists posting false or misleading information on websites in a bid to drive up the price of selected stocks. In the GameStop case, which has seen […]
Biden SEC Should Stay the Course on Enforcement | LinkedIn
In this monthly column and elsewhere, I haven’t hesitated to call out the SEC on misguided enforcement cases and policy decisions. But as I wrote two years ago, when the SEC is on the right track, it’s equally important to give credit and urge the agency to stay on course. Such is the case right now […]
GameStop Takeaways from an Ex-SEC Internet Gumshoe | LinkedIn
Unsure whether to feel nostalgic or a touch of PTSD, one thing seems undeniable to me: the financial punditry noise surrounding the entire Reddit/Robinhood/hedge fund imbroglio can be skewed, misleading, and hyperbolic all at the same time. For those seeking clarity in plain English, below are some takeaways, which not only lower the volume on […]
Gensler Faces Big Challenge in Tackling GameStop’s Wild Ride – The New York Times
“The S.E.C. has for years worried about hedge funds coordinating their positions and coordinating bear raids and otherwise engaging in activities to move around a stock,” said Tyler Gellasch, a former S.E.C. lawyer who heads the Healthy Markets Association, an investor group. “There are reporting requirements around that. But we’ve never really thought about that […]
To Scrape or Not to Scrape: The Potential Legal Implications of Using Web Scraping for Market Research | Hedge Fund Law Report
Through the use of automated processes performed by software, a web scraper visits a website and attempts to gather relevant data or information that may be provided on the site, such as consumer product reviews or social media profile data. That information may be readily accessible through a simple Google search, or it may require […]