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The SEC should require more workforce disclosures from companies to include employee diversity reporting, the agency’s advisory group for investor matters is preparing to recommend. The Securities and Exchange Commission should direct companies to report data that may include workers’ gender, race, age, disabilities, and other characteristics important to investors, the agency’s Investor Advisory Committee […]
The FASB, which sets accounting standards for U.S. public and private companies and nonprofits, on Wednesday voted unanimously to adopt a new standard that would require businesses to use fair-value accounting for bitcoin and certain other crypto assets. Companies and accountants have repeatedly rallied for this change, as it would allow them to recognize losses […]
The Securities and Exchange Commission today charged Crowe U.K. LLP, a London based audit firm, its CEO, Nigel Bostock, and senior auditor, Matthew Stallabrass, for the firm’s deficient audit of music streaming company Akazoo Limited. Crowe U.K., Bostock, and Stallabrass have agreed to settle the SEC’s charges. According to the SEC’s order, Crowe U.K. issued […]
U.S. Senator Cynthia Lummis (R-Wy.), a number of crypto lobbying organizations and a group of professors called on a federal court to dismiss a Securities and Exchange Commission (SEC) lawsuit against crypto exchange Coinbase Friday. Filing amicus – or friend of the court – briefs, the organizations and lawmaker alleged the SEC was trying to […]
In late July, a programmer at Estonia’s CoinsPaid, the world’s biggest crypto payment provider, met over video link with a recruiter who had reached out on LinkedIn with a lucrative job offer. During the 40-minute job interview, the engineer was asked to download a file to take a technical test, which he did on his […]
Elite law firm Wachtell, Lipton, Rosen & Katz has turned to a law firm that has previously represented Elon Musk’s Tesla to fight Musk’s lawsuit over $90 million in legal fees Wachtell earned in forcing the billionaire to consummate his buyout of Twitter. Two Morrison & Foerster partners, Jordan Eth and Ragesh Tangri, were identified […]
The Justice Department is revamping a team it launched nearly two years ago to investigate cryptocurrency-related crimes, saying the move will more than double the number of prosecutors available to work on the team’s growing caseload. In a speech Thursday, senior Justice Department official Nicole Argentieri said the National Cryptocurrency Enforcement Team, or NCET, would […]
One of the most explicit examples of the fallout came from Advance Auto Parts, which said it had identified a material weakness in its ICFR due to turnover in key accounting positions during the fiscal quarter ended April 22. The company said it wasn’t able to attract and retain enough qualified people to fulfill internal-control […]
The Securities and Exchange Commission today announced insider trading charges against Amit Dagar, a former Pfizer Inc. employee, and his close friend and business partner, Atul Bhiwapurkar, for trading in advance of the company’s November 5, 2021, announcement that a randomized, double-blind study of its COVID-19 antiviral treatment, Paxlovid, was successful. Following that announcement in […]
The crypto sector has said that existing U.S. regulations are inadequate and called for new rules. On Friday, Grewal questioned whether such new rules would work to tamp down misconduct. “Even if you came up with a bespoke rule set, you have an entire industry where the ethos is built around noncompliance,” he said. Source: […]