Tag: Trump

Trump’s social media company threatens to sue SEC over delayed DWAC SPAC deal | Seeking Alpha

Former President Donald Trump’s social media company, Trump Media & Technology Group, threatened on Wednesday to sue the Securities and Exchange Commission over the delayed merger with SPAC Digital World Acquisition (NASDAQ:DWAC). “In light of the obvious conflicts of interest among SEC officials and clear indications of political bias, TMTG is now exploring legal action against the SEC,” TMTG said…

Read More

Trump SPAC faces grand jury investigation – The Washington Post

The company that plans to merge with former president Donald Trump’s social media company has received subpoenas from a federal grand jury, a setback that could complicate Trump’s plans to bring his company to the public markets. The company, known as Digital World Acquisition Corp., revealed the subpoenas in a Securities and Exchange Commission filing dated June 24 and warned…

Read More

Manhattan D.A. Recruits Top Prosecutor for Trump Inquiry – The New York Times

As the Manhattan district attorney’s office steps up the criminal investigation of Donald J. Trump, it has reached outside its ranks to enlist a prominent former federal prosecutor to help scrutinize financial dealings at the former president’s company, according to several people with knowledge of the matter. The former prosecutor, Mark F. Pomerantz, has deep experience investigating and defending white-collar…

Read More

A Guide to the Pros and Cons of Trump’s 6-Month Earnings Plan – Bloomberg

Trump said in a tweet Friday that he wants the Securities and Exchange Commission to examine whether businesses would be better off reporting financial results every six months. The plan rankled some investors who see quarterly reporting as crucial to the transparency of financial markets. Other stakeholders, however, favor the idea since they contend that providing frequent results is costly…

Read More

Trump administration to crack down on securities, tax fraud

“We are using data analytics to more quickly identify, investigate and prosecute manipulation of the securities markets, and other forms of fraud that threaten the integrity of America’s financial system,” Rosenstein said at a conference on white-collar crime in San Diego. He added the Justice Department is working with the top U.S. markets regulators to aggressively prosecute manipulation and trading…

Read More

White-Collar Criminal Enforcement in the Era of Trump | New York Law Journal

White-collar criminal enforcement will continue to evolve in the year ahead, but some predictions can be made based on year one of the Trump administration. Federal law enforcement officials have enunciated a clear focus on non-white-collar crimes and, with numerous vacancies in the Justice Department, this shifting focus is likely to result in a decrease in white-collar investigations and prosecutions—a…

Read More

Wall Street Fines Fall During First Year of Trump Administration, Research Shows – WSJ

Penalties levied by the Securities and Exchange Commission dropped to a four-year low during the latest fiscal year, showing how a more friendly tone from regulators and the transition of political power can yield relief for Wall Street. Total penalties ordered through SEC enforcement actions fell 15.5% last year to about $3.5 billion, the lowest total since 2013, according to…

Read More

It’s not too late to be tough on Wall Street – Lexology

Given the Trump administration’s twin policy goals of deregulation and fiscal conservatism, public-private partnership with the private securities bar may be the SEC’s best, and perhaps only, weapon to effectively combat the ever-increasing number of complex financial frauds. President Trump can make good on his campaign promise to “police markets for force and fraud” and restore a powerful tool to…

Read More