‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInRegistration of Commodity Brokers-Dealers, Salespersons, and Investment Advisors Doing Business Relating to Virtual or “Crypto” Currency–NYAG
New York Attorney General Letitia James issues this alert to remind industry members that people and entities dealing in virtual or “crypto” currencies that are commodities or securities in the state of New York, and who do not qualify for an exemption, must register with the Office of the Attorney General. Failure to do so […]
NYAG’s Probe of Bitfinex, Tether Ends in an $18.5M Settlement – CoinDesk
Charles Michael, a partner at law firm Steptoe & Johnson LLC who represented the companies in the inquiry, said the settlement “resolves allegations about public disclosures” around Tether’s loan to Bitfinex. “To the Attorney General’s office’s credit, after two and a half years of investigation, [its] findings are limited only to the nature and timing […]
Greenberg’s ‘Day of Reckoning’ Over AIG Fraud Claims Arrives – Bloomberg
More than 11 years after he was sued by former New York Attorney General Eliot Spitzer, Greenberg went on trial Tuesday to fight claims that he and former Chief Financial Officer Howard Smith rigged the books with two sham transactions at AIG to hide the insurer’s true financial condition. via Greenberg’s ‘Day of Reckoning’ Over […]
New York Attorney General Eric Schneiderman promises to wade into more ‘dark pool’ investigations after settlements with Barclays and Credit Suisse were announced | Crain’s New York Business
Additional actions are likely against private trading venues run by some of Wall Street’s biggest banks, the nation’s top securities regulator and New York state’s attorney general said today as they announced record settlements with two global banks over their so-called dark pools. via New York Attorney General Eric Schneiderman promises to wade into more […]
Benjamin Lawsky to Step Down as New York’s Top Financial Regulator – WSJ
Mr. Lawsky had been interviewing for private sector positions for months and was expected to leave this spring, as previously reported by The Wall Street Journal. But, instead of heading to an established law firm or financial consultancy, a common exit route for financial regulators, Mr. Lawsky is striking out on his own. via Benjamin […]
Four gov’t agencies now investigating high-speed “Insider Trading 2.0” — Ars Technica
The revaluation of the subpoenas from Eric Schneiderman’s office, first reported by the Wall Street Journal, brings to at least four the number of agencies probing what the New York Attorney general has described as “Insider Trading 2.0.” Other entities investigating whether Wall Street firms are taking advantage of “differences in delays, or latencies, of […]
Eric Schneiderman’s twisted fight against ‘insider trading 2.0’ — Bloomberg View
Now that we know New York has an attorney general who makes up the law as he goes along when it comes to the securities industry, where will he draw the line? Today Eric Schneiderman said his office has reached agreements with 18 financial-services firms, most of which are Wall Street banks, to “stop their […]
NY clamping down on bitcoin — New York Post
Ben Lawsky, New York’s top financial watchdog, told a panel of high-profile tech investors on Tuesday that he’s moving full steam ahead with plans to regulate crypto currencies like bitcoin amid concerns that the cyber cash has become the money of choice for criminals. via NY clamping down on bitcoin — New York Post
JPMorgan to pay NY $1Bn over mortgage crisis — New York Post
Thousands of underwater homeowners across New York may see some financial relief from the record-setting $13 billion mortgage- bond settlement Tuesday between JPMorgan Chase and federal and state regulators. More than $1 billion in relief will be heading to the Empire State, according to state Attorney General Eric Schneiderman. via JPMorgan to pay NY $1Bn […]
The war against ‘insider trading 2.0’ – FT.com
In 2009, Samantha Bee, one of the cast members on The Daily Show, the satirical US television programme, said that “if I know about a stock’s activity the day before, it’s called insider trading. But if I know about a stock’s activity one second before, it’s called high-frequency trading.” Now, however, Eric Schneiderman, the New […]