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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSorry, Nancy Pelosi: Lawmakers Shouldn’t Be Stock Traders – Bloomberg
Now, with barely a month left in the current session, members of Congress should put their money where their mouths are. The simplest and most transparent solution is to ban lawmakers and their immediate families from holding stocks at all. Although that’s unlikely to fly, a requirement to put any investment assets in a blind […]
The big crypto winner of the midterms? The SEC and CFTC | Fortune
With Democrats performing better than expected and Bankman-Fried’s fall from grace, experts say any legislation likely will take even longer. Amid the regulatory vacuum, that means the winners will be the Securities and Exchange Commission and the Commodity Futures Trading Commission, which can continue making ad-hoc enforcement decisions and jockeying for power. “The longer it takes […]
Republicans to probe Wall Street’s climate friendly investments – The Washington Post
Less than a week before the midterm elections, Republican lawmakers on Capitol Hill are already gearing up to investigate what they see as “woke capitalism,” a reference to Wall Street firms that treat climate change as an economic risk. Polls suggest the GOP will retake the House, and Republicans there are preparing to grill the […]
US Democrat Senator John Hickenlooper Criticizes Gary Gensler’s Approach to Crypto at SEC
U.S. Senator John Hickenlooper (D-Colo.) has become one of the first Democratic senators to publicly criticize the slow approach to crypto taken by Gary Gensler, chair of the U.S. Securities and Exchange Commission (SEC). Hickenlooper said the current lack of a coordinated regulatory framework leads “uneven enforcement” and hinders clear understanding of investor protection in […]
Congress breaks for midterm elections with stock trading bill in doubt. Good.
Despite headlines to the contrary, there is little evidence that unlawful insider trading — misusing nonpublic information to trade stocks — is widespread on Capitol Hill. Recent research disseminated by the nonpartisan National Bureau of Economic Research found that lawmakers reap no outsize return on their stock investments, including those made in areas in which […]
US Crypto Legislation Stalls in Congress, Dashing Hopes for Regulatory Clarity – Bloomberg
US lawmakers’ efforts to pass significant crypto legislation by the end of the year are on life support, leaving in place Washington’s scattershot approach to digital coins. Several high-profile, bipartisan bills that once seemed to have a promising shot of passing before the end of 2022 are held up, with congressional committees pushing off important […]
The Stock Market Made Nancy Pelosi Rich. Now, She Wants To Ban Her Colleagues From Trading.
House Speaker Nancy Pelosi (D., Calif.) has seen her net worth increase by $140 million since the 2008 financial crisis thanks in no small part to her husband’s fortuitous trades in companies she has worked to subsidize. Now, she’s trying to pull up the ladder behind her: In what may be her final months as […]
Pelosi Ripped by Fellow Democrat for Delaying Stock-Trade Bill
Spanberger, who introduced a bill with Republican Representative Chip Roy to require that lawmakers place investment assets into a blind trust while in office, questioned Pelosi’s commitment to a stock-trading ban and called the delay in acting on any reform bill before the House leaves for a break “a failure of House leadership.” “After first […]
Nancy Pelosi’s Congressional Stock Ban Isn’t as Strict as It Sounds | Vanity Fair
By including the spouses and dependents of federal officials in its ban, the bill addresses one of the key methods lawmakers may employ to dodge conflict of interest accusations. Still, the requirement that officials enter their assets into a blind trust could create new ethics concerns and potentially eliminate current transparency initiatives, according to Walter […]
House Democrats Unveil Bill to Restrict Trading by Lawmakers, Presidents – Bloomberg
Senior House Democrats on Tuesday night released their proposal to restrict stock ownership and trading by members of Congress, the president and vice president, Supreme Court justices and other high-ranking government officials. The bill, titled the “Combatting Financial Conflicts of Interest in Government Act,” could be introduced on Wednesday, when the House is in session. […]