Gurbir Grewal News

U.S. regulators levied more than US$118 million in penalties against several financial firms for failing to keep employees’ electronic communications, the latest fallout from the so-called WhatsApp investigations.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

Twenty-six financial firms agreed to pay about US$393 million in total fines after the U.S. Securities and Exchange Commission said they failed to keep their employees’ electronic communications, the latest fallout from the regulator’s so-called WhatsApp investigations.

Silvergate Bank has been charged by the Securities and Exchange Commission (SEC) for misleading investors about the effectiveness of its Anti-Money Laundering (AML) compliance program.

Silvergate Capital Corp., former CEO Alan Lane and former chief risk officer Kathleen Fraher, were charged by the Securities and Exchange Commission with misleading investors about the strength of its bank secrecy act and AML compliance programme and the monitoring of crypto customers. In addition, the company and former executives were charged with misleading investors about the company’s losses from expected securities sales following the collapse of FTX. Silvergate and Martino misrepresented the company’s bleak financial condition during a liquidity crisis and bank run following FTX’s collapse, alleges the SEC.

A U.S. appeals court says that Smith & Wesson must comply with a subpoena from New Jersey officials investigating whether the gun-maker engaged in any deceptive advertising

The future of the investment and financial advisory services is going to include artificial intelligence, of that we can be certain. But how is the use of AI going to shape the regulatory landscape?

Terraform Labs and its co-founder, Do Kwon, have been found guilty of fraud in a civil case brought against them by the United States Securities and Exchange Commission (SEC). 

Gurbir Grewal, the Director of the United States Securities and Exchange Commission (SEC)’s Division of Enforcement, took aim at the crypto sector for its “significant non-compliance” regarding crypto regulations Wednesday morning during remarks at Practicing Law Institute’s annual SEC Speaks event.

The US Securities and Exchange Commission was sanctioned for its controversial restraining order against crypto firm DEBT Box, a March 18 court filing showed. In a rare rebuke, Judge Robert Shelby slammed the agency on Monday, calling its actions toward DEBT Box a “gross abuse of power.”

The Securities and Exchange Commission penalized two money managers for what it says were bogus claims about their use of artificial intelligence, marking the beginning of a fresh crackdown by Wall Street’s main regulator.

The United States Securities and Exchange Commission (SEC) has recently come under scrutiny for its handling of a legal case against Debt Box, a mining software firm. In a rare admission, the SEC has acknowledged significant errors in its approach to the case, sparking discussions in the legal and cryptocurrency communities.

The past week brought several new major developments on the crypto regulation front. The SEC sued a major crypto exchange, IOSCO developed new international standards, Turkey pushed ahead with licensing requirements, Canada’s OSFI moved to refine industry rules, and NYDFS tightened token listing and delisting policies.

The move follows similar charges levelled by the SEC against Binance and Coinbase and comes just months after Kraken and the watchdog reached a $30 million settlement over the failure to register a staking-as-a-service programme.The SEC alleges that Kraken intertwines the traditional services of an exchange, broker, dealer, and clearing agency without having registered any of those functions with the Commission as required by law. Kraken’s alleged failure to register these functions has "deprived investors of significant protections," including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others.In addition, says the SEC, Kraken commingles its customers’ money with its own, including paying operational expenses directly from accounts that hold customer cash.

The Securities and Exchange Commission accused crypto exchange Kraken of securities-law violations, less than a year after unveiling a $30 million settlement with the firm over other alleged conduct.

The United States Securities and Exchange Commission (SEC) has sued Kraken alleging it commingled customer funds and failed to register as a securities exchange, broker, dealer, and clearing agency with the regulator.

A fresh slate of Wall Street firms agreed to collectively pay tens of millions of dollars to U.S. regulators over their employees’ use of unmonitored communication channels on the job.  

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Bankrupt crypto trading platform Bittrex, which ceased U.S. operations earlier this year, will pay $24 million to settle U.S. Securities and Exchange Commission (SEC) charges for running an unlicensed exchange, broker, and clearing agency.