Page 2 - Securities And Exchange Commission

SEC charges Trump Media's newly hired auditing firm with 'massive fraud'

The Securities and Exchange Commission on Friday charged an auditing firm hired by Trump Media and Technology Group just 37 days ago with massive fraud though not for any work it performed for former President Donald Trump's media company. The SEC charged the accounting firm BF Borgers and its owner, Benjamin F. Borgers, of deliberate and systematic failures in more than 1,500 audits. The charges include failing to abide by accounting rules, fabricating documentation to cover up its shortcomings, and falsely stating in audit reports that its work met audit standards. BF Borgers agreed to pay a USD 12 million fine while its owner agreed to pay a fine of USD 2 million. Trump Media named Borgers as its auditor on March 28, according to the company's most recent annual report filing. The company disclosed at the time that Borgers had also handled its audits before the company went public by merging with a cash-rich shell company called Digital World Acquisition Corp. The company had

SEC abused its authority in case against crypto platform, says US judge

An SEC spokesperson said the regulator is reviewing the decision

Alibaba discloses Chinese govt ownership in over 12 of its business units

The filings come as China's ruling Communist Party said this month that it will play a bigger role in steering the country's technology and science development

Sebi renews recognition to AMC Repo Clearing for 1 yr to clear transactions

The regulator has granted renewal of recognition for one year starting from January 17, 2024 till January 16, 2025, according to a notification uploaded on Sebi's website on Tuesday

Indian crypto firms welcome US SEC approval for bitcoin ETF, draw hope

US regulator's decision will create 'new era' of crypto asset adoption, they say

US SEC authorises Bitcoin-spot ETFs in cryptocurrencies' breakthrough

The approvals mark a rare capitulation by the SEC following opposition that lasted for more than a decade, ever since Tyler and Cameron Winklevoss first proposed a Bitcoin ETF in 2013.

Bitcoin gains acceptance

India needs clear rules on cryptos

US regulators seek to compel Musk to testify in their Twitter investigation

The Securities and Exchange Commission said Friday it is seeking a court order that would compel Elon Musk to testify as part of an investigation into his purchase of Twitter, now called X. The SEC said in a filing in a San Francisco federal court that Musk failed to appear for testimony on September 15 despite an investigative subpoena served by the SEC and having raised no objections at the time it was served. But two days before his scheduled testimony, Musk abruptly notified the SEC staff that he would not appear, said the agency's filing. Musk attempted to justify his refusal to comply with the subpoena by raising, for the first time, several spurious objections, including an objection to San Francisco as an appropriate testimony location. X, which is based in San Francisco, didn't immediately return a request for comment. The SEC said it has been conducting a fact-finding investigation involving the period before Musk's takeover last year when Twitter was still a publicly tra

Not aware of any subpoena from US regulators to investors: Adani Group

This comes after Bloomberg reported that US regulators are probing the representations made by Adani Group to American investors after Hindenburg report accused it of manipulating stock prices

Settle with Binance over asset freeze to allow ops, judge urges US SEC

The judge also expressed skepticism about the SEC's use of its enforcement powers to regulate the crypto industry, calling it "inefficient and cumbersome"

Justice Department, SEC to probe into collapse of Silicon Valley Bank

The Justice Department and the Securities and Exchange Commission have launched investigations into the collapse of Silicon Valley Bank, a person familiar with the matter told The Associated Press. The investigations - which are separate inquiries - are in the early stages and will also examine the actions of the bank's senior executives, the person said. The Justice Department's investigation involves federal prosecutors in California, along with prosecutors involved in fraud cases, the person said. The person was not authorized to publicly discuss the specific details of the ongoing investigations and spoke to the AP on condition of anonymity.

Musk trial win a 'non sequitur' in Twitter sitter sase, says US SEC

The judge handling the SEC case has refused to let Musk out of the deal, prompting the Tesla CEO to appeal to the 2nd US Circuit Court of Appeals

Close on heels of India, US switches to T+1 trade settlement cycle

Growing pressure on global regulators to shorten settlement cycle, say experts

How a software change let Sam Bankman-Fried's FTX use client funds

That tweak in the code got the attention of the US Securities and Exchange Commission (SEC), and charged Bankman-Fried with fraud

Bankrupt FTX hit by mysterious outflow of about $662 mn in past 24 hours

It's unclear exactly who's making the transactions, but you wouldn't expect to see these on-chain trades at this time: Alex Svanevik, chief executive officer at Nansen

White House monitoring FTX collapse, calls for crypto industry regulation

The collapse this week of FTX dealt another blow to the cryptocurrency industry, which has seen severe volatility and bankruptcies of other high-profile firms, including Celsius Network Ltd

Crypto is more attractive as US SEC gets aggressive, investors say

Survey respondents also displayed a very broad church of opinions on crypto, emblematic of how despite the sector's relative infamy among traders, it's still a divisive topic

Two years on, Sebi's sandbox initiative yet to find its feet

Most applications have either been withdrawn or stand rejected

Professional investors seek new ESG rules for fund management industry

Professional investors think the asset managers looking after their ESG allocations need more regulations to rein them in.

Kim Kardashian settles with SEC over crypto promotion, to pay $1.26 mn

Kim Kardashian has agreed to settle charges brought by the Securities and Exchange Commission and pay USD 1.26 million for promoting a cryptocurrency on social media without disclosing the payment she received for the plug. The SEC said on Monday that the reality TV star and entrepreneur has agreed to cooperate with its ongoing investigation. The SEC said Kardashian failed to disclose that she was paid USD 250,000 to publish a post on her Instagram account about EMAX tokens, a crypto asset security being offered by EthereumMax. Kardashian's post contained a link to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens. The federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of compensation they received in exchange for the promotion, Gurbir Grewal, director of the SEC's division of enforcement, said in a prepared statement. Kardashia