Reported by: Cydney Posner It may look like just another run-of-the-mill insider trading case, but there’s one difference in this settled SEC Enforcement action: according to the SEC, it involved sales under a purported 10b5-1 trading plan while in possession of material nonpublic information. As you probably know, to be effective in insulating an insider […]
Reported by: LILA MACLELLAN Last week, U.S. Deputy Attorney General Lisa Monaco outlined the Department of Justice’s plan to increase the number of corporate criminals it prosecutes. The most forceful way the revised policies will influence corporate behavior is by targeting executive pay structures such as golden parachutes, says Susan Divers, a lawyer and the […]
Reported by: Eleanor Olcott The US Securities and Exchange Commission had charged Cheetah Mobile chief executive Sheng Fu and its former president and chief technology officer Ming Xu. Its action came 10 months after a Financial Times investigation found that in 2016, Fu initiated share sales worth as much as $31mn a few weeks before […]
Reported by: Department of Justice, U.S. Attorney’s Office, Northern District of California Oakland registered investment advisor was charged in a federal information filed today with securities fraud for trading upon non-public inside information, announced United States Attorney Stephanie M. Hinds and Federal Bureau of Investigation Special Agent in Charge Sean Ragan. According to the information […]
Reported by: TikTok – unusual_whales Two new exchange-traded funds named after House Majority Leader Nancy Pelosi (D-Calif.) and Sen. Ted Cruz (R-Texas) are aiming to let everyday investors copy their trades. The Pelosi-themed ETF would trade under the ticker NANC in honor of the congresswoman whose husband frequently buys and sells stocks of the companies […]
Reported by: MacKenzie Sigalos The Biden White House has just released its first-ever framework on what crypto regulation in the U.S. should look like — including ways in which the financial services industry should evolve to make borderless transactions easier, and how to crack down on fraud in the digital asset space. The new directives […]
Reported by: Kate Kelly and Alicia Parlapiano Speaker Nancy Pelosi said on Wednesday that Democrats would bring legislation to the House floor this month that would place new restrictions on the ability of lawmakers to buy and sell stocks. Her announcement came a day after The New York Times published an analysis showing that between […]
Reported by: Kaye Wiggins Sweden’s financial regulator has closed a year-long market abuse probe into a $2.7bn share sale by top executives at private equity group EQT and will not take action against the buyout group. The Swedish Financial Supervisory Authority investigated whether Stockholm-based EQT violated market abuse rules by failing to promptly disclose that […]
Reported by: Luc Cohen The brother of a former Coinbase Global Inc (COIN.O) product manager pleaded guilty on Monday to a wire fraud conspiracy charge, in what U.S. prosecutors have called the first insider trading case involving cryptocurrency. Nikhil Wahi, 26,admitted during a virtual court hearing before U.S. District Judge Loretta Preska in Manhattan that […]
Reported by: Samantha Delouya Bed Bath & Beyond CFO Gustav Arnal was named in an insider trading lawsuit less than two weeks before he was found dead in an apparent suicide on Friday. The proposed class action lawsuit, filed on behalf of an individual investor Pengcheng Si, names Bed Bath & Beyond, Arnal, Ryan Cohen, […]
Financial Crime News Briefs 