Tag: SEC

September 05, 2023 BY Elizabeth Anderson

Another top executive resigns from Binance

A Binance spokesperson confirmed the report to Reuters. Among others, the company also had to bid farewell to its Chief Strategy Officer, Patrick Hillmann, and General Counsel, Hon Ng, during this year. These resignations raise industry eyebrows as they follow scrutiny by authorities, including the U.S. Securities and Exchange Commission (SEC) and the Australian Securities…

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September 04, 2023 BY Elizabeth Anderson

SEC sees legal action from 6 groups over private fund rules

The new stipulations oblige private funds to submit quarterly fee and performance reports on top of annual audits. Additionally, funds must disclose specified fee structures and curb the preferential treatment of some investors, especially regarding portfolio disclosures and cash-out abilities.  This industry administers around $20trn in assets. Gary Gensler, the SEC chair, stated these measures…

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July 14, 2023 BY Steffy Bogdanova

Celsius founder Alex Mashinsky arrested for crypto fraud

Likewise, the Commodities Futures Trading Commission (CFTC) brought similar charges against the crypto lender and its founder. The CFTC asserted that Celsius and Mashinsky operated an extensive commodity pool scheme involving digital asset commodities. The derivatives regulator announced a settlement agreement with Celsius, which includes a court order permanently prohibiting the company from engaging in…

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May 10, 2023 BY Steffy Bogdanova

SEC gives $279 million to whistleblower in the largest-ever award

Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, said: The size of today’s award – the highest in our program’s history – not only incentivizes whistleblowers to come forward with accurate information about potential securities law violations, but also reflects the tremendous success of our whistleblower program. This success directly benefits investors, as…

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March 01, 2023 BY Steffy Bogdanova

CFTC and SEC file fraud charges against FTX co-owner Nishad Singh

According to the court filings, between May 2019 and November 2022, FTX’s customer assets were not separated from the company’s as represented to the customers. Furthermore, they were “routinely held by FTX’s sister digital asset trading company, Alameda” and misappropriated for “luxury real estate purchases, political contributions, and high-risk, liquid digital asset industry investments.” The…

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