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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInGary Gensler Reflects on His First Year as S.E.C. Chair – The New York Times
As the nation’s top markets regulator, Mr. Gensler was always going to be busy. But he was nominated during the unexpected trading frenzy in so-called meme stocks like GameStop and AMC Entertainment, which was driven in part by commission-free trading apps. He was confirmed for a five-year term on the day the crypto exchange Coinbase […]
Latham Adds Another Leading White Collar Defense & Investigations Lawyer
Latham & Watkins LLP is pleased to announce that Christopher D. Frey has joined the firm as a partner in the White Collar Defense & Investigations Practice and as a member of the Litigation & Trial Department. Frey has joined the firm’s New York office with plans to relocate and expand his practice into California’s […]
Grayscale CEO: Matter of when, not if, the SEC allows bitcoin spot ETF
“It really is, in our opinion, a matter of when and not if” there is a bitcoin spot ETF, Sonnenshein said. “If the SEC can’t look at two like issues, the futures ETF and the spot ETF, through the same lens, then it is, in fact, potentially grounds for an Administrative Procedure Act violation.” Grayscale […]
A Web3 Risk Mitigation Checklist | LinkedIn
For so-called fintech professionals in particular, take heed. The U.S. Federal Deposit Insurance Corporation, U.S. Securities and Exchange Commission, U.S. Department of Labor and U.S. Comptroller of the Currency have officially kick-started a range of burdensome, weighty and powerful regulatory initiatives pertaining to digital assets — and cryptocurrency is not their only target. Financial regulators […]
Former Mckinsey Partner Sentenced To 24 Months In Prison For Insider Trading Scheme | USAO-SDNY | Department of Justice
Between November 2019 and July 2020, and again between April 2021 and September 2021, Goldman Sachs, the investment bank, engaged McKinsey, the management consulting firm, to provide services related to the potential acquisition of GreenSky by Goldman Sachs and the post-acquisition integration of GreenSky. DIKSHIT was one of the McKinsey partners leading these engagements. In […]
President Biden Announces Key Nominees | The White House
Today, President Biden announced his intent to nominate the following individuals to serve as key leaders in his administration: Carol Spahn, Nominee for Director of the Peace Corps Robin Hutcheson, Nominee for Federal Motor Carrier Safety Administrator, Department of Transportation Jaime Lizárraga, Nominee for Commissioner of the Securities and Exchange Commission Mark Uyeda, Nominee for […]
SEC Says Employees Improperly Accessed Privileged Legal Records – WSJ
The SEC’s notice said some workers in the enforcement division in 2017 downloaded legal memos that should have been restricted to the commissioners and lawyers who advise them on orders and opinions. Instead, the documents were uploaded to a database that all SEC enforcement attorneys could see. “It’s the equivalent of a party in litigation […]
SEC Would See Enforcement Funding Boost in Biden’s Budget Plan
The Securities and Exchange Commission would receive $2.15 billion in President Joe Biden’s fiscal 2023 budget proposal, an 11.4% increase from fiscal 2021. The agency’s Enforcement Division would get a $53 million increase. Government agencies were operating at the fiscal 2021 spending level, with some adjustments, until fiscal 2022 appropriations were enacted earlier this month. […]
Cryptocurrency Exchange Platforms Want Say in Rules Under Biden Administration – Bloomberg
Bankman-Fried wants Congress to expand the CFTC’s authority to cover trading in the coins themselves. Currently, the CFTC only claims jurisdiction over cash token markets in cases of suspected fraud or manipulation that could affect the performance of crypto derivatives. In February testimony to the Senate, he said this lack of clarity is bad for […]