The U.S. Securities and Exchange Commission vetoed two proposals to offer bitcoin exchange-traded funds (ETF), dealing a blow to market participants who had hoped the agency would green light the effort after approving futures-backed bitcoin funds in October. In a notice dated Wednesday, the markets regulator said both of the proposals to list and trade…
Nikola Corp. Agrees to Pay $125 Million to Settle SEC Charges of Defrauding Investors
WASHINGTON—Nikola Corp. has agreed to pay $125 million to settle civil charges that it defrauded investors by misleading them about its products, technical advancements, and commercial prospects, the U.S. securities regulator said on Tuesday. The Securities and Exchange Commission (SEC) accused the electric vehicle maker of violating securities laws with numerous misleading statements made from…
US SEC Delays Decision on Grayscale’s Spot Bitcoin ETF
The U.S. Securities and Exchange Commission has delayed its decision on a spot bitcoin exchange-traded fund (ETF) proposal from Grayscale Bitcoin Trust, the world’s largest digital currency manager. In a notice dated Wednesday, the markets regulator said it now expects to review Grayscale’s proposal by Feb. 6, later than the original December deadline. In October,…
US SEC to Tighten Insider Trading Rules, Boost Money Market Fund Resilience
WASHINGTON—The U.S. Securities and Exchange Commission (SEC) on Wednesday proposed tightening a legal safe-harbor that allows corporate insiders to trade in a company’s shares, and other rules to improve the resilience of money market funds. The agency also unveiled measures to increase transparency around share buybacks and the complex derivatives at the center of New…
US SEC Chair Gensler Seeks to Scrutinize Private Fund Fee Arrangements, Side Letter Provisions
November 10, 2021
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WASHINGTON—The chair of the U.S. Securities and Exchange Commission said on Tuesday that the agency will consider new rules that scrutinize private fund fee arrangements, side letter provisions. Gary Gensler, in a keynote address to members of the Institutional Limited Partners Association, added that the agency rules would aim to mitigate conflicts of interest between…
US SEC Enforcement Chief Says FY2021 Enforcement Figures Will Be ‘Slightly Down’
WASHINGTON—The U.S. Securities and Exchange Commission’s (SEC) director of enforcement on Friday said the agency’s fiscal year 2021 enforcement figures will be “slightly down” from the prior year. Speaking to a gathering of attorneys, SEC enforcement director Gurbir Grewal said the data, expected to be published within weeks, will show a decline versus fiscal 2020,…
SEC May Expand Oversight to Key Treasury Market Platforms: Chair
WASHINGTON—The chair of the Securities and Exchange Commission (SEC) said on Tuesday it will consider new oversight rules for some platforms for trading U.S. Treasuries, in a move aimed at boosting transparency and competition. Gary Gensler said he asked staff to revisit a 2020 proposal issued under the Trump administration intended to treat electronic trading…
SEC Still Investigating Sen. Richard Burr for Stock Sell-Off, Wants to Talk to Brother-in-Law
The Securities and Exchange Commission (SEC) is still investigating Sen. Richard Burr (R-N.C.) for a stock sell-off he completed around the start of the COVID-19 pandemic and wants to speak to Burr’s brother-in-law. Burr claimed in January that he was told the investigation ended last year. However, an SEC lawyer in a recent court filing…
Does Collusion Between Wall Street and the CCP Fuel Chinese Trading in US?
October 3, 2021
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News Analysis While the Securities and Exchange Commission (SEC) continues to signal tighter audit standards for Chinese companies listed in the United States, the Chinese Communist Party (CCP) has been meeting privately with Wall Street firms to launch wholly-owned mutual funds in the Chinese capital market. Experts believe Wall Street will remain as a middleman…
US SEC Delays Certain Assets From Enforcement Actions Under New Disclosure Rule
September 25, 2021
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WASHINGTON—The U.S. Securities and Exchange Commission (SEC) said on Friday that it would delay enforcement of certain assets from a new disclosure rule for off-exchange securities until Jan. 3, 2022. The new compliance date was due to come into effect on Tuesday. The agency’s no action letter, which affects quotes published by broker dealers for…
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