sec
Donald Trump Taps Former Commissioner Paul Atkins to Lead SEC
- The president-elect expressed his support for Atkins, describing him as a proponent of "common-sense regulations."
- His tenure is anticipated to include reduced penalties for regulatory violations and a more industry-friendly approach to oversight.
Wednesday, 04/12/2024 | 19:15 GMT by
Jared Kirui
SEC Adds 20 Firms to Public Alert List, Cites Rising Investment Fraud Concerns
- The new entities on the PAUSE list include 14 firms accused of deceptive practices and two impersonating legitimate companies.
- The SEC has identified entities impersonating actual securities firms and government regulatory bodies.
Wednesday, 27/11/2024 | 19:12 GMT by
Jared Kirui
SEC Fines Webull, Two Broker-Dealers for Compliance Failures
- Lightspeed Financial Services Group, Paulson Investment Company, and Webull Financial agreed to pay the regulator a total of $275,000.
- The three firms reportedly failed to meet filing standards for suspicious activity reports.
Friday, 22/11/2024 | 19:05 GMT by
Jared Kirui
Wall Street Bitcoin Miner CEO's $2M Casino Gamble Ends in Federal Indictment
- Former BIT Mining CEO faces federal charges for orchestrating a $1.9 million bribery scheme targeting Japanese officials.
- The BTC mining company has agreed to pay $14 million in penalties and entered a three-year deferred prosecution agreement.
Tuesday, 19/11/2024 | 08:09 GMT by
Damian Chmiel
SEC’s Chair Gary Gensler Hints at Exit, Defends Tough Crypto Regulations
- President-elect Donald Trump vowed to fire Gensler during his campaigns.
- Recently, Gensler highlighted several significant initiatives in the commission, including disclosures on data breaches.
Thursday, 14/11/2024 | 21:11 GMT by
Jared Kirui
XRP SEC Legal Battle: Trump's Potential Impact and 2025 Outlook
- The XRP-SEC legal battle enters a decisive phase as potential political changes reshape the landscape.
- Market analysts suggest XRP could soar under favorable regulatory conditions through 2025.
Saturday, 09/11/2024 | 10:07 GMT by
Damian Chmiel
Capital One Faces Potential Enforcement Action over Savings Account Disclosures: Report
- The company allegedly failed to adequately inform customers about a high-yield account.
- Capital One received a letter from the CFPB warning of possible enforcement action in connection to the dispute.
Monday, 04/11/2024 | 18:33 GMT by
Jared Kirui
SEC Plans Legal Action Against Web 3 Firm Immutable
- The regulator issued a Wells Notice against the firm, joining a growing list of crypto firms facing scrutiny.
- Immutable criticized the regulator’s approach, noting the notice came just hours after its initial meeting with the agency.
Friday, 01/11/2024 | 19:40 GMT by
Jared Kirui
SEC Fines Four Companies $6M for Misleading Cybersecurity Breach Disclosures
- The companies reportedly downplayed the severity of cyberattacks, particularly related to a significant breach.
- The regulator also mandated the companies to improve their cybersecurity controls.
Tuesday, 22/10/2024 | 19:32 GMT by
Jared Kirui
Known for Its Bitcoin ETFs, WisdomTree Fined $4 Million by US SEC
- The prominent crypto exchange-traded products issuers have been penalized for misrepresenting ESG fund investments.
- The firm's ETFs invested in fossil fuel and tobacco companies despite claims to the contrary.
Tuesday, 22/10/2024 | 06:59 GMT by
Damian Chmiel
SEC Charges Cumberland DRW with $2 Billion in Unregistered Crypto Trading
- The regulator charged the company for operating as an unregistered crypto dealer in crypto transactions worth over $2 billion.
- Cumberland DRW denied the allegations, arguing that the SEC’s enforcement actions stifle innovation.
Thursday, 10/10/2024 | 19:22 GMT by
Jared Kirui
SEC Charges Firm for “AI Washing” in Investment Scheme
- The securities watchdog accused Rimar Capital of raising nearly $4 million by misrepresenting an AI trading platform.
- It also alleged misleading statements about the company's assets under management and investment returns.
Thursday, 10/10/2024 | 16:01 GMT by
Jared Kirui
SEC Escalates Crypto Scrutiny: Unregistered Offerings Lead Surge in Lawsuits
- Finbold's research shows that the SEC's litigations rose to 12 in the third quarter from 3 reported in Q2.
- The regulator focused on unregistered offerings as the most common violation.
Tuesday, 08/10/2024 | 17:34 GMT by
Jared Kirui
Crypto.com Takes SEC to Court, Claims Regulatory Overreach
- The lawsuit is based on a Wells notice issued by the regulator, accusing the exchange of improperly classifying crypto assets.
- Crypto.com has also petitioned the CFTC and SEC for clarification on the regulation of cryptocurrency derivative products.
Tuesday, 08/10/2024 | 15:09 GMT by
Jared Kirui
Coinbase Challenges SEC: Judges Question the Regulator's Crypto Rulemaking Rejection
- The judges voiced concerns about the SEC's unclear guidance for the crypto industry, as claimed by Coinbase.
- The SEC defended its stance, citing other priorities and ongoing regulatory efforts.
Monday, 30/09/2024 | 13:14 GMT by
Jared Kirui
Coinbase and SEC Escalate Legal Battle Over Crypto Regulations: Report
- The crypto exchange initiated the lawsuit after the SEC dismissed a petition for new rulemaking.
- SEC maintains that the existing securities laws are sufficient to govern digital assets.
Tuesday, 24/09/2024 | 18:08 GMT by
Jared Kirui
Texas Court Dismisses Consensys' Lawsuit Against the SEC
- The court stated that an investigation into Ethereum had already been resolved, rendering the lawsuit unnecessary.
- Despite this outcome, Consensys argued that the SEC is overreaching its authority.
Friday, 20/09/2024 | 20:08 GMT by
Jared Kirui
Kraken Argues Cryptos Are Not “Illegal Securities”: Seeks Jury Trial against SEC Lawsuit
- The exchange cited the Securities Act and the Exchange Act, highlighting that neither mentions digital assets.
- It also questioned the SEC’s authority to regulate digital assets.
Friday, 13/09/2024 | 09:03 GMT by
Arnab Shome
SEC Charges Abra for Failing to Register $600 Million Crypto Lending Program
- The SEC claims that Abra Earn should have been registered as a security and that Abra held over 40% of its total assets in investment securities.
- Abra agreed to settle the charges by paying civil penalties and accepting an injunction against further violations.
Monday, 26/08/2024 | 20:29 GMT by
Jared Kirui
SEC Pays $24 Million to Whistleblowers in Major Enforcement Case
- The first whistleblower received $4 million for providing timely information that led the SEC to open an investigation.
- The regulator’s whistleblower program is funded by monetary sanctions imposed on securities law violators.
Monday, 26/08/2024 | 17:41 GMT by
Jared Kirui
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