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Join the Securities Litigation and Enforcement Group on LinkedInSEC’s Gensler Claims More Crypto Turf in Washington as Dissent Dithers – Bloomberg
The tide was supposed to turn when Republicans gained control over the House last November. Finally, the thinking went, there would be restraints on the SEC chief. Yet after six months of hearings, initial plans and fiery statements about regulatory overreach, GOP lawmakers have yet to formally introduce their key proposals. The 2024 campaign season […]
Where Was Biden’s SEC Sheriff on Sam Bankman-Fried? – WSJ
That FTX hadn’t registered with the SEC doesn’t let Mr. Gensler off the hook. For months he’s claimed to have authority over crypto and warned about self-dealing at their exchanges. Why didn’t he investigate the company? That would have given the SEC records of FTX’s sloppy bookkeeping and perhaps its alleged fraud. A charitable explanation […]
FTX’s Collapse Validates Gary Gensler’s Crypto Skepticism – Businessweek
You might think that Armstrong would be sending a thank-you note to Gensler for keeping him and his customers out of an incredibly risky business. Instead, Armstrong is leading a brigade that’s seeking, against all logic, to pin the blame for FTX on Gensler. The reasoning, which Armstrong laid out in a tweetstorm and a […]
SEC chair riles Wall Street, Republicans — even some Democrats – POLITICO
The growing list of gripes about Gensler threatens to weigh on his political capital as he tries to finalize sweeping regulations opposed by industry, navigate upcoming House GOP investigations and secure his agency’s role in overseeing digital assets as Congress responds to crypto exchange FTX’s failure. “Gary Gensler might as well bring a cot because […]
Is Gensler to blame for the FTX crash or did it vindicate him? – Protocol
But the attacks on Gensler have been met with intense pushback from other industry observers who stress a different argument: The FTX crash actually proves that Gensler’s approach to crypto was correct. By embracing what the crypto industry denounced as unreasonable and rigid policies, Gensler actually minimized the harm the FTX meltdown had on U.S. […]
SEC’s Gensler Holds Firm That Existing Laws Make Sense for Crypto
SEC Chair Gary Gensler: They don’t just resemble securities, they are securities. Thurgood Marshall, a great Supreme Court Justice, wrote in an opinion – and I think it was in the 1970s – that the Congress painted with a broad brush to protect the public when somebody is raising money from the public and the […]
Gensler: SEC could tailor disclosures for crypto firms
“I’ve said to the industry, to the lending platforms, to the trading platforms, come in, talk to us. We do have robust authorities from Congress, also, to use our exemptive authority so that we can tailor investor protection,” Gensler said during a Yahoo Finance interview on Thursday. “Even tailoring what the disclosures might be, because […]
Crypto Legislation Could Undermine Market Regulations, Gensler Says – WSJ
Asked about a bill introduced last week by Sens. Cynthia Lummis (R., Wyo.) and Kirsten Gillibrand (D., N.Y.), Mr. Gensler initially demurred, saying he would prefer to discuss the proposed legislation with the senators. But he then suggested that legislative changes targeting cryptocurrencies could have implications for stock exchanges or mutual funds. “We don’t want […]
SEC Chief Wants Advisors, BDs to Improve ‘Cyber Hygiene’ | ThinkAdvisor
Securities and Exchange Commission Chairman Gary Gensler said Monday that he wants advisors and broker-dealers to improve their “cyber hygiene” as well as their data privacy disclosures. Investment companies, investment advisors and broker-dealers, which are not covered by the SEC’s Regulation Systems Compliance and Integrity, or Reg SCI, must “comply with various rules that may […]
Where Are the (Crypto) Lawyers? | LinkedIn
It’s Déjà vu all over again at the SEC. At the 2021 SEC Enforcement Forum, Chair Gary Gensler of the U.S. Securities and Exchange Commission (SEC), seized the opportunity to admonish the rising crop of self-anointed fintech lawyers who too often advise their clients on how to circumvent U.S. securities laws — as opposed to […]