Tag: Wells Notice

SEC Prepares to Sue Robinhood Over Crypto Unit – WSJ

The Securities and Exchange Commission is preparing to sue Robinhood Markets’ crypto unit, ramping up its crackdown on digital-currency trading to target one of the most popular U.S. brokerage firms, the company said Monday. Robinhood disclosed that its crypto unit received a so-called “Wells Notice” from SEC staff over the weekend, which said the staff had made a “preliminary determination”…

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DeFi Exchange Uniswap Receives Enforcement Notice from the U.S. SEC

Decentralized crypto exchange Uniswap received a notice from the U.S. Securities and Exchange Commission (SEC) that it intends to pursue an enforcement action, the company disclosed on Wednesday. Uniswap’s native token, UNI, dropped 9.5% immediately after the news. Uniswap CEO Hayden Adams announced the receipt of the so-called Wells notice on X, saying he wasn’t surprised, “just annoyed, disappointed, and…

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SEC Enforcer: ‘You Bet’ There Will Be More Sweeps — Financial Advisor IQ

Grewal is working to quicken the pace of investigations, noting that when he started with the SEC the average length of an investigation was 24 months. Grewal was appointed director of the Division of Enforcement in 2021. “It’s important for accountability, for public trust to move those investigations more quickly, and it’s important for the people under investigation — you…

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SEC Targets Bittrex, Fallen Giant of U.S. Crypto Exchanges – WSJ

The Securities and Exchange Commission’s enforcement staff told Bittrex in March it would recommend that the agency sue the company over alleged violations of investor-protection laws, according to David Maria, the company’s general counsel. Seattle-based Bittrex was already prepared to wind down its U.S. operations when it got the notice, Mr. Maria said, citing the difficulty of working with U.S.…

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Coinbase Gets SEC Wells Notice Over Crypto Offerings – Bloomberg

Coinbase Global Inc. said it received a notice from the SEC formally declaring the securities regulator’s plans to bring an enforcement action against the largest US crypto exchange, the latest development in a long-running dispute between the watchdog and the digital-asset company. Securities and Exchange Commission Chair Gary Gensler has repeatedly said many of the tokens and products offered by…

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Coinbase Gets Wells Notice From the SEC on Lend Product – Bloomberg

Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings. The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s…

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GE Says It Has Received ‘Wells Notice’ From SEC Relating to Accounting Investigation — Update | MarketScreener

Federal securities regulators have warned General Electric Co. the company could face a civil-enforcement action over its accounting for a legacy insurance business, adding a fresh hurdle to efforts to turn around the once-mighty manufacturer. The industrial giant said in a securities filing Tuesday that it received the so-called Wells notice on Sept. 30 over the company’s accounting for reserves…

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