SEC Financial News

Subscribe to enjoy similar stories.Wall Street’s watchdogs are ramping up their inquiries into how much risk has built up in the $3 trillion private-credit industry, just as investor angst has sparked some backers to head to the exits.The Securities and Exchange Commission in recent months has opened several enforcement investigations of large private-credit managers, according to people familiar with the matter. The Treasury Department has requested information from private fund managers and insurance firms about their business models.

Subscribe to enjoy similar stories.MUMBAI: The US market regulator’s $18-million settlement of a civil case against Indian billionaire Gautam Adani and nephew Sagar Adani has no immediate bearing on a parallel criminal investigation initiated against them by the US Department of Justice (DoJ).The Securities and Exchange Commission (SEC) and the Adanis acknowledged that the settlement does not grant them immunity from any criminal liability related to the case, they said in their filings with a New York court.“This settles the civil action brought by the Securities and Exchange Commission. It has no implications for the existing criminal charges brought by the DoJ or any other criminal investigation that may be pending,” said Russell A.

Subscribe to enjoy similar stories.In 2023 things were not looking good for Justin Sun, a billionaire crypto-mogul. The Securities and Exchange Commission had accused him of fraud. The regulator claimed that the companies he founded and controlled had issued unregistered securities (two crypto tokens, Tron and BitTorrent); had manipulated the markets in those securities by “wash trading” to make the tokens look active and useful; and had paid celebrities to endorse them without disclosing they were being compensated.

Mint takes a look at the arguments made by the high-profile Adani counsels and the road ahead in the case.The SEC has alleged that billionaire businessman Gautam Adani and Sagar Adani, among others, paid $250 million in bribes to unnamed government officials in India to secure favourable power-supply contracts for Adani Green Energy Ltd.The regulators further claimed that when raising capital from American investors, the Adanis did not tell them about the alleged bribes while stating the company’s anti-bribery policies, thus misleading investors and committing securities fraud.The Adani Group has denied any wrongdoing.The Adani lawyers filed a motion to dismiss the SEC case based on a lack of personal jurisdiction. The Adani kin are neither residents of the United States nor did they purposefully direct their activities towards the country, the counsels said in their motion.Gautam Adani did not personally authorize the issuance of the $750 million bonds under question or direct the sale of these bonds in the US, they said.

Subscribe to enjoy similar stories. MUMBAI: Adani Group chairman Gautam Adani and his nephew Sagar Adani have hired prominent attorneys in the US—including one of Donald Trump’s lawyers and a former Mafia prosecutor—to represent them in their defence against allegations of securities fraud levelled by the Securities and Exchange Commission (SEC). The senior Adani has appointed law firm Sullivan & Cromwell LLP with Robert Giuffra leading the team representing him, as per a court filing dated 30 January.

Subscribe to enjoy similar stories. MUMBAI : The securities fraud proceedings against Adani Group chair Gautam Adani and his nephew Sagar Adani—over allegations of paying bribes to unnamed Indian government officials and misleading American investors—have broken a year-long political stalemate, making way for a potentially long legal battle in a US court.

Subscribe to enjoy similar stories. MUMBAI , BENGALURU : Adani Group chairperson Gautam Adani's counsel on 23 January made their first submission in a US court 14 months after the Securities and Exchange Commission (SEC) filed a bribery and securities fraud case against the Indian billionaire and his nephew.

Subscribe to enjoy similar stories. Earlier this year, financial advisors across the country opened emails from the CIO at the Securities and Exchange Commission. Written in a professional tone and bearing the regulator’s official seal, the electronic missives asked advisors to confirm their “best email address" for secure communications going forward.

Subscribe to enjoy similar stories. The U.S. government has tried to address the long decline in stock-exchange listings by relaxing the rules for small public companies.

Subscribe to enjoy similar stories. This year’s largest stock sale wasn’t on the New York Stock Exchange or its uptown rival, the Nasdaq Stock Market. Instead, it was a $40 billion offering by OpenAI that was available to only the investors handpicked by the firm’s executive team, including Sam Altman himself.

On Tuesday (2 April), Circle lodged its application with the Securities and Exchange Commission (SEC). Investors pull out of European crypto funds in 2024 amid market and political buzz Circle has attempted to float on US public markets before, put pulled the plug on its IPO, an event that CEO Jeremy Allaire, said was «disappointing» in an X, at the time Twitter, post in 2022, after it did not complete the SEC qualification in time.  The US has adopted a more crypto-friendly tilt from the incumbent White House administration, and the SEC has also moved to loosen its oversight of th...

settlement with the U.S. SEC regarding the sale of unregistered securities, agreeing to pay $50 million of a $125 million fine. While pending approval, the settlement brings closure to one of the SEC's high-profile cases against the crypto sector.

A Manhattan federal judge on Friday said investors can move forward with claims that Musk committed securities fraud by failing to make timely disclosures to the US Securities and Exchange Commission, posting “misleading tweets about Twitter’s future” and carrying out “a coordinated trading strategy to silently build up” his position in the social media company. Lawyers for Musk and the investors didn’t immediately respond to requests for comment.

The move comes after SEC acting chair Mark Uyeda indicated last month that the regulator would be rolling back on its policy and yesterday (28 March), the SEC sent a letter to the US courts stating that the Commission withdraws its defence of the rules.  The letter also noted that the Commission counsel are no longer authorised to advance the arguments in the brief the regulator had filed. How financial firms' ESG backlash could soon backfire In a statement Uyeda said, «the goal of today's Commission action and notification to the court is to cease the Commission's involvement in t...

«A top priority of my chairmanship will be to work with my fellow Commissioners and Congress to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach,» Atkins, who was an SEC commissioner from 2002 to 2008, said in written remarks on Wednesday. Atkins is set to testify at a Senate confirmation hearing on Thursday at a time of major change at the agency and across the federal workforce. A well-known Washington lawyer with extensive business ties, Atkins will face questions from Democrats about potential conflicts of interest and his support for deregulation. He appears unlikely to face serious obstacles to confirmation, however, according to analysts. Earlier on Tuesday, U.S. videogame retailer GameStop said it would include bitcoin as a treasury reserve asset to diversify its corporate holdings, betting on the world's biggest cryptocurrency to help turnaround its struggling primary business.

Congress parliamentarian Jairam Ramesh on Sunday wrote to information technology minister Ashwini Vaishnaw, urging him to «pause, review and repeal» Section 44 (3) of the Data Protection Act, 2023, claiming that otherwise it would eliminate the proviso in Section 8 (1) of the Right To Information Act (RTI), 2005, which gives citizens equal right to information as legislators who represent them. Pointing out that Section 44 (3) of the Data Protection Act, 2023, states that «In section 8 of the Right to Information Act, 2005, in sub-section (1), for clause (j), 2005, the following clause shall be substituted, namely, (j) information which relates to personal information», Ramesh argued that «the implications of this on Section 8 (1) (j) of the RTI Act, 2005, are that almost everything in it gets deleted.» Maintaining that proviso in Section 8 (1) of the RTI Act, 2005, that gives citizens equal right to information as legislators who represent them is eliminated, Ramesh told Vaishnaw: «The existing Section 8 (1) (6) of the RTI Act, 2005, had enough guardrails to protect unwarranted invasion of privacy.

NCAA Tournament. The match will be held on Friday, March 21. The Alabama Crimson Tide (25-8) entered the tournament aiming to make another deep run after their Final Four appearance last season. The team, however, has suffered a 104-82 loss to Florida in the SEC Tournament semi-final. This highlighted some defensive concerns for the franchise. Meanwhile, Robert Morris (26-8) had secured their spot by winning the Horizon League Tournament. They defeated Youngstown State 89-78. The Colonials will be making their ninth NCAA Tournament appearance, though they have a 2-8 record in the competition.

XRP, the cryptocurrency associated with Ripple Labs, experienced a significant surge, reaching $2.52, following the US Securities and Exchange Commission's (SEC) decision to withdraw its appeal against the company. This development marks a pivotal victory for Ripple and has notably boosted investor confidence in XRP. The SEC initiated a lawsuit against Ripple in December 2020, alleging that the company had conducted an unregistered securities offering worth $1.3 billion through the sale of XRP tokens. This legal action had cast a long-standing shadow over XRP's market performance. However, the SEC's recent decision to drop its appeal effectively removes a major regulatory obstacle, allowing Ripple to operate with greater clarity and assurance.

Aaryan Shukla, the 14-year-old 'human calculator', the teenager took to social media to reveal the secret behind his talent. «Thank you very much Sir. I am a Mental Calculator (Human Calculator). The technique is called „Flash Anzan“ where you have to process the numbers flashing on the screen at lightning speed. The base is Abacus. While I have been training for last 8 years to achieve this. Thanks!» said Aaryan Shukla in reply to Anand Mahindra.

$2.52 after the U.S. Securities and Exchange Commission (SEC) dropped its appeal against Ripple. This decision marks a major legal win for the blockchain company and has fueled a sharp rise in XRP’s price. Investors are now speculating on the future of XRP and what this means for the broader crypto market.

advance income tax for FY 2024-25 but you can still pay the last quarter’s due advance tax. This payment will attract interest under Section 234C. However, despite this interest amount you will end up paying less than what you would pay after 31 March. In case you do not pay the last quarter’s advance tax by March 31, 2025 then additional interest under Section 234B will also be levied from April 1, 2025. Advance tax has to be paid by every taxpayer whose total tax liability is above Rs 10,000 in a financial year. To save on unnecessary interest cost, you must pay it now if possible.