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United States
Enforcement
US Authorities Investigating Short Sales of Banking Stocks
By Editors | 09/05/2023
SEC chair Gary Gensler said the agency would go after any form of misconduct that might threaten investors or markets.
Capital / Liquidity
Fed Warns of Credit Contraction Resulting from Bank Stress
By Editors | 09/05/2023
Ongoing stresses in the banking system could lead to a broader contraction in credit, resulting in a “marked slowdown in economic activity”.
Crypto / Digital Assets
US SEC Ordered to Respond to Coinbase Petition Within 10 Days
By Editors | 08/05/2023
The SEC must indicate whether or not it will provide formal rule-making for the digital assets sector, and the reasons for its decision.
Enforcement
US SEC Issues Record-breaking $279m Whistleblower Award
By Editors | 08/05/2023
The size of the award should incentivise whistleblowers to come forward about potential securities law violations, said the SEC’s Gurbir Grewal.
Crypto / Digital Assets
New Bill Unveiled to Strengthen Crypto Regulation in New York
By Manesh Samtani | 08/05/2023
The CRPTO Act would ban the use of the term “stablecoin” except for digital assets backed 1:1 with the safest of reserve assets. Crypto platforms would have to reimburse fraud losses.
Capital / Liquidity
US SEC Probing Insider Trading by First Republic Execs – Report
By Editors | 07/05/2023
The SEC is looking into whether executives of First Republic improperly traded on inside information before the government seized the bank and sold it to JPMorgan.
Big Picture
Thousands of US Banks are “Underwater” and “Potentially Insolvent”
By Manesh Samtani | 07/05/2023
Report by Stanford Professor Amit Seru and a group of banking experts presents an analysis of US banks’ asset exposure to interest rate hikes and the implications for financial stability.
Enforcement
NYDFS Fines BitFlyer for Deficient Cybersecurity Programme
By Editors | 07/05/2023
BitFlyer USA did not perform risk assessments, implement a written cybersecurity policy, or conduct annual reviews. The firm said it has completed over 90% of its planned remediation work.
Enforcement
Ex-OpenSea Manager Convicted for NFT Insider Trading Scheme
By Editors | 05/05/2023
Nathaniel Chastain chose which NFTs to feature on OpenSea’s home page and then covertly traded those NFTs, altogether making about $57,000 in profits.
Enforcement
Goldman Under Probe for Possible Role in SVB Collapse
By Editors | 05/05/2023
Goldman Sachs said it is cooperating with governmental bodies in connection with their investigations and inquiries into SVB.
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