The SEC and the NY AG are suing CoinSeed for lack of registrations and multiple other counts. That’s a cold shower for the crypto industry. Spoiler alert: adult supervision is needed.
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‘Roaring Kitty’, the rebel redittor behind GameStop, is actually a registered principal. His actions and background will harm him, his employer, and will change the industry.
This post explains Keith Gill’s actions, his investment and his supervisory background, and the responsibility of his employer, as they are stated in the class action lawsuit. We ask questions and ponder the long-term consequences.
The billionaire matriarch of the Schottenstein family was being taken advantage by her own two grandsons. So grandma ate the wolves.
She brought her two JP Morgan bankers to FINRA and obtained the largest award since 2018 – $19 millions.
The first Interpol warrant has been issued in the Cum/Ex tax trading case.
Paul Mora, looked for by Germany, Denmark, and Belgium, is currently in New Zealand. Mr. Mora said that “he would skip his tax fraud trial because of New Zealand’s low Covid-19 infection rate and argued that he wouldn’t get a fair hearing in Germany.”
One of Credit Suisse’s top bankers was up to no good. The firm was warned and did nothing.
This new scandal is unfortunately far from being the first for the Swiss bank. Regulatory investigations (and provisions!) are actually pilling up.
This article explains the last scandal, in the context of the firm’s recent compliance woes.
The managers of GPB Capital have been using the life savings of many retirees to fund their lifestyle. They just got charged by the SEC.
From promises to arrests, GPB’s downfall is a textbook case of what can go wrong when investing. This article lists the initial red flags, which any investors should be wary about, as well as the many steps of their downfall.
The Corporate Transparency Act, enacted in the Defense Appropriation bill of January 2021, is a game-changer for financial investigators. It prevents bad actors from hiding behind anonymous shell companies – right here in the United States.
Corruption has a new enforcement agency. The CFTC effectively delivered on its intention to enforce the FCPA. Vitol, the Swiss firm, was just fined $95m for bribery.
More about Robinhood… Massachusetts’ Enforcement Division filed a complaint about
– its aggressive growth tactics,
– the firm’s outages and disruptions, which were well known and ignored while pushing growth,
– its gamification,
– and insufficient supervision for option trading.
Here is an excellent, albeit a bit lengthy, analysis of the history, regulatory and general situation of Robinhood & its Day Trading business by Bill Singer of Broke and Brokers (http://www.rrbdlaw.com/).