SEC
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A federal judge in Texas struck down the U.S. Securities and Exchange Commission’s (SEC) recent overhaul of Treasury dealer rules on Thursday, ruling that the agency exceeded its legal authority when issuing the regulations, according to court records. U.S. District Judge Reed O’Connor of the Northern District of Texas found that the SEC’s rule violated…
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Rulemaking at the U.S. Securities and Exchange Commission (SEC) has slowed significantly after a rapid start under President Joe Biden. The agency now faces a challenging legal landscape marked by adverse court decisions that restrict its oversight of the $27 trillion private funds industry, criticize its economic rationale for new share buyback disclosures, and limit…
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A corporate attorney who alerted the U.S. Securities and Exchange Commission (SEC) to possible fraud within his company was rightly denied eligibility for a whistleblower award, according to a ruling unsealed on Friday by the U.S. Court of Appeals for the D.C. Circuit. The court determined that the attorney, whose identity remains confidential, did not…
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A federal judge ruled on Tuesday that Gene Levoff, a former senior lawyer at Apple, must pay a $1.15 million fine in a Securities and Exchange Commission (SEC) civil case related to insider trading. U.S. District Judge William Martini in Newark, New Jersey, acknowledged that while Levoff “was not living excessively,” his violations were especially…
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A legal assault on the U.S. Securities and Exchange Commission is chipping away at its powers to oversee Wall Street, and this effort is likely to intensify with two imminent Supreme Court rulings. Last week, a U.S. appeals court overturned a major SEC rule that imposed stricter oversight of private funds, delivering a fresh blow…
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A financial industry trade association has sued the U.S. Securities and Exchange Commission (SEC) for information about the agency’s multibillion-dollar crackdown on how banks and other firms handle work-related communication on personal devices. The American Securities Association filed the lawsuit in Tampa federal court on Thursday, claiming that the SEC improperly rejected its request under…
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On Thursday, a federal judge indicated a willingness to compel Elon Musk to testify again in the U.S. Securities and Exchange Commission’s investigation into his $44 billion takeover of Twitter. Lawyers for the billionaire appeared in a San Francisco courtroom on Thursday to urge U.S. District Judge Jacqueline Scott Corley to decide against the SEC,…
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The Securities and Exchange Commission (SEC) has leveled severe accusations against BF Borgers, the independent accounting firm responsible for auditing Trump Media & Technology Group. The charges include widespread fraud and operating what the SEC termed a “sham audit mill.” While the allegations are serious, the SEC clarified that they do not implicate Truth Social…
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On Tuesday, two crypto industry trade associations took legal action against the U.S. Securities and Exchange Commission (SEC), aiming to halt the implementation of a new rule expanding the regulator’s definition of a “dealer” of securities. Filed in federal court in Fort Worth, Texas, by the Blockchain Association and the Crypto Freedom Alliance of Texas,…
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