UBS got flack for recommending VIX ETFs to its clients. This suitability case has in fact deep roots in a significant ETF classification challenge: many product databases are mishandling the wide diversity of ETNs. Significant litigation is to be expected as a result.
When you are spoofing gold futures, don’t brag about it in chat rooms.
A few gold futures traders got one year in the clink for market manipulation.
In a new version of the transfer pricing strategy, Tom Sandell virtually relocated his hedge fund from New York to Florida to avoid NY tax liabilities on his deferred comp.
The story didn’t finish well. A whistleblower and the NY AG forced him to cough up $105m.
The Momentus / Stable Road merger is the epitome of what can go wrong with SPACs. It is a story of dreams, greed, and lies.
The SEC made an example out of it. The plaintiff law firms are jumping on the bandwagon too.
FINRA slapped its largest penalty eve, $70m, to Robinhood for numerous and shocking failings.
That fine will raise the firm’s IPO price.
The Rosen Law Firm has filed the first NFT class action, which accuses Dapper Labs and the NBA of selling $500m of unregistered securities to US investors, as per the Howey test. The firm is also slow to pay back investors who sell their NFTs.
The case will be followed closely by the new digital litigation industry.
The founder of a Turkish crypto exchange runs away with $2 billion from ~400,000 individuals.
The SEC has hit yet another nail in the binary option coffin, and what a big nail that is. SpotOption was the industrial-size engine behind this global scam.
This article explains binary options, what their true risk really is, how some have weaponized it, the SEC’s actions, as well as shares comments from the investigative press.
German prosecutors are taking numerous financial institutions to courts over the Cum/Ex fraud, and the banks are suing each other to escape the dues.
The proceedings show ICAP at the center of this web of frauds.
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.