If major media organizations even bothered to cover the U.S. Supreme Court’s 6-to-3 decision against the Securities and Exchange Commission (SEC) on June 27, the initial takeaway was that the regulatory agency suffered a massive blow to its abilities to take legal action in civil cases, particularly anti-fraud cases. But that might be too dire… Read More >>
SEC Hits Back at Coinbase
It looks like the SEC and Coinbase, Inc. will have their day in court. The SEC raised the legal stakes last week by charging the cryptocurrency exchange with illegally running its crypto-asset transaction platform “as an unregistered national securities exchange, broker, and clearing agency,” and that Coinbase allegedly failed to register the sale of its… Read More >>
Could the FTX Fiasco Spur Reforms?
The bankruptcy of cryptocurrency exchange FTX Trading Ltd. is causing multiple upheavals in digital asset trading markets and has spurred the collapse of cryptocurrency lender BlockFi Inc., which recently filed for chapter 11 protection. To quickly recap, “on November 11, 2022, and November 14, 2022, FTX Trading Ltd. and 101 affiliated debtors … each filed… Read More >>
Q&A: Meet Financial Recovery Technologies
Christopher Higgins is the marketing manager at Financial Recovery Technologies (FRT), a Medford, Mass.-based vendor that handles class action suits for financial services firms that are eligible to receive a payout related to securities transactions. FRT is taking on this complicated operation by automating and streamlining key aspects of the process. Q: What’s the story… Read More >>
The SEC Neither Admits Nor Denies a Flawed Policy
I was initially elated when I first read that the SEC was getting rid of its “neither confirm nor deny” language. However, the more I drilled down to the details it became clear that it was a narrow change and not the reform I thought had been inspired by US District Court Judge Jed Rakoff…. Read More >>
