Tag: NYAG

INVESTOR ALERT: Attorney General James Warns New Yorkers About Cryptocurrency Investment Risks | New York State Attorney General

“Over and over again, investors are losing billions because of risky cryptocurrency investments,” said Attorney General James. “Even well-known virtual currencies from reputable trading platforms can still crash and investors can lose billions in the blink of an eye. Too often, cryptocurrency investments create more pain than gain for investors. I urge New Yorkers to be cautious before putting their…

Read More

Registration 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 exposes them to both civil…

Read More

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 of certain disclosures,” Michael said.…

Read More

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 AIG Fraud Claims Arrives –…

Read More

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 ‘dark pool’ investigations after settlements…

Read More

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 trade information distributed between trading…

Read More

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 over mortgage crisis — New…

Read More