Tagged: Gurbir Grewal

Nexo Hit with SEC Charges, Settles for $45 Million

Beleaguered crypto firm Nexo has had to pony up a $45 million penalty following charges filed by the Securities and Exchange Commission (SEC). Without admitting or denying the SEC’s findings, Nexo agreed to a cease-and-desist order. Nexo had previously announced its exit from the United… Read More

Watch: United States Attorney, Southern District New York, Press Conference on Sam Bankman-Fried Indictment, FTX Bankruptcy

This afternoon, the US Attorney’s Office for the Southern District of New York held a press conference discussing the indictment of Sam Bankman-Fried, the one-time CEO of FTX and now the alleged perpetrator of one of the largest frauds in history. As the details emerge,… Read More

SEC Joins Criminal Charges, Files Claim Alleging Sam Bankman-Fried Defrauded Investors with FTX

The Securities and Exchange Commission (SEC) has filed fraud charges against Sam Bankman-Fried, founder and former CEO of FTX. The crypto exchange filed bankruptcy last month as allegations of malfeasance surfaced. In a simultaneous action, the Commodities Futures Trading Commission (CFTC) announced charges as well…. Read More

SEC Publishes Enforcement Data for 2022

The Securities and Exchange Commission (SEC), Division of Enforcement, has published its annual activity report for the fiscal year 2022. The Division of Enforcement is the largest section of the SEC and leverages the bulk of the agency’s budget. According to the SEC, enforcement actions… Read More

Kim Kardashian Settles with SEC for “Crypto Asset Security” Promotion, Pays $1.26 Million Penalty

Global influencer, celebrity, and entrepreneur Kim Kardashian has settled charges with the Securities and Exchange Commission (SEC) regarding allegations of promoting a “crypto asset security” without revealing she was paid for touting the digital asset on social media. The promotion took place in June of… Read More

SEC Touts Data Analysis Tools in Detecting Insider Trading

The Securities and Exchange Commission (SEC) has revealed multiple enforcement actions involving allegations of insider trading. The charges are also being joined by parallel criminal charges filed in the Southern District of New York. According to the SEC, three actions emanated from the SEC Enforcement… Read More

Former Coinbase Exec, Two Others Hit With Insider Trading Charges

The Securities and Exchange Commission (SEC) has filed insider trading charges against a former Coinbase (NASDAQ:COIN) manager Ishan Wahi along with his brother Nikhil Wahi, and his friend, Sameer Ramani. In a parallel action, the U.S. Attorney’s Office for the Southern District of New York… Read More

Schwab Penalized by SEC for Robo-Advisor Hidden Fees, Disclosure on Performance

The Securities and Exchange Commission (SEC) charged three Charles Schwab investment adviser subsidiaries for allocating client funds in a manner that their own internal analyses showed would be less profitable for their clients under most market conditions. Schwab has agreed to pay $187 million to… Read More

Bigger Guns: SEC Ramps Up Enforcement Team on Crypto, Doubles Headcount at Crypto Assets and Cyber Unit

The Securities and Exchange Commission (SEC) will double its enforcement team when it comes to the crypto or digital assets sector. According to a statement by the SEC, the renamed Crypto Assets and Cyber Unit (formerly the Cyber Unit) will increase its headcount to 50… Read More

Regulators Ramp Up to Tackle Insufficient Surveillance, JPMorgan Hammered with $200 Million Penalty

Earlier this week, the Securities and Exchange Commission hit JPMorgan (NYSE:JPM) with a $125 million penalty. JP Morgan Securities, a subsidiary of JP Morgan, was fined for “widespread and longstanding failures by the firm and its employees to maintain and preserve written communications,” said the… Read More

Funding Portal Trucrowd, Crowdfunding Issuers Hit With SEC Fraud Charges

The Securities and Exchange Commission has leveled fraud charges against TruCrowd and three issuers in allegations of fraud regarding $2 million of unregistered securities apparently offered via two investment crowdfunding offerings. As far as we are aware, this is the first significant enforcement action pertaining… Read More

SEC Charges Nine in Long Running Global Fraud Scheme

The Securities and Exchange Commission (SEC) this week announced an emergency action charging nine people, including a public company chairman, for their participation in long-running fraudulent schemes that collectively generated hundreds of millions of dollars from unlawful stock sales and caused significant harm to retail… Read More

SEC Announces Multiple Charges Against Nikola Founder

The Securities and Exchange Commission (SEC) has announced charges against Trevor R. Milton, the founder, former CEO and former executive chairman of Nikola Corporation, for repeatedly disseminating false and misleading information about Nikola’s products and technological accomplishments. Milton made the statements mostly through social media…. Read More

DeFi Lender Blockchain Credit Partners Hit with SEC Enforcement Action in First Case of its Kind

The Securities and Exchange Commission (SEC) has announced charges against DeFi lender Blockchain Credit Partners alleging the offering of unregistered securities raising $30 million. This is the first DeFi case filed by the SEC. The complaint indicates that respondents have each submitted an Offer of… Read More

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