SEC Financial News

Like all industries, the wealth advisory space is a tough, competitive world.

A former investment advisor has been found liable for defrauding members of his religious community out of hundreds of thousands of dollars through a years-long deception, according to the SEC.

In this report, we examine Ethereum’s performance in June 2024. Despite the complicated trends in ETH’s price, Cryptonews delves into network activities, breaks down important updates within the ecosystem, and explores what they could mean for Ethereum’s future.

The Securities and Exchange Commission last week revoked the license of Lufkin Advisors of San Mateo, Calif., after charging the firm and its owner, Chauncey Lufkin, with fraudulent conduct involving crypto assets and private funds.

Bitwise’s chief compliance officer, Katherine Dowling, suggested in a July 8 Bloomberg interview that diminishing issues within S-1 filings could indicate the imminent launch of Ethereum ETFs.

With the Supreme Court ruling late last month against the government-favored “Chevron Deference,” one crypto industry leader being targeted by the agency is already using the decision to its advantage.

The SEC just dropped its probe into crypto firm Paxos over its BUSD stablecoin one year after issuing a Wells Notice to the firm, per a Fortune report.

A United States court has ruled against cryptocurrency exchange Binance’s attempt to dismiss the majority of claims leveled against it by the country’s securities regulator, the Securities and Exchange Commission (SEC).

Finra has issued a reminder to member firms regarding their regulatory obligations when incorporating generative AI and similar tools into their operations.

Two days after Christmas, a prominent Wall Street regulator updated a database with news of interest to the industry: A $1.4 trillion brokerage had been slapped with one of the year’s biggest fines for allegedly losing track of almost a million trades.

A US District Court judge has signed off the settlement two months after a jury found Terraform and Kwon civilly liable for fraud after the $40 billion collapse of the company and its ecosystem.The collapse happened after, in May 2022, the TerraUSD stablecoin was de-pegged from the US dollar, prompting it and Terraform’s other tokens to plummet to close to zero in value, leading to "devastating losses to countless investors," says the SEC.Terra's implosion also set off a series of devastating events for the crypto industry, causing the failure of crypto hedge fund Three Arrows Capital which, in turn, hit Genesis Global Capital and FTX.SEC Chair Gary Gensler says: “Terraform and Do Kwon’s fraudulent activities caused devastating losses for investors, in some cases wiping out entire life savings. Their fraud serves as a reminder that, when firms fail to comply with the law, investors get hurt."The judgement, to which Terraform and Kwon consented, includes $4.05 billion of disgorgement plus interest, and a $420 million civil fine for the company.

Domestic benchmark index NSE Nifty gained 72.66 points to 24117.15, while the BSE Sensex traded 220.58 points up at 79463.76.

Crypto exchange Coinbase (COIN) sued U.S. financial regulators Thursday, saying they failed to disclose information about past investigations into the cryptocurrency market and attempted to block the crypto industry from access to banking services.

Coinbase has filed lawsuits against the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) after the crypto exchange failed to obtain requested records from the government agencies under the Freedom of Information Act (FOIA), Thursday court documents show.

The US Supreme Court curbed the Securities and Exchange Commission’s ability to press complaints before in-house judges, saying defendants have a constitutional right to make their case to a federal jury when the agency is seeking financial penalties.

The United States Supreme Court dealt the Securities and Exchange Commission (SEC) a massive blow regarding securities law enforcement Thursday in a new ruling that sees the federal regulator stripped of its controversial appointment of in-house judges during fraud proceedings.

WASHINGTON — The Supreme Court on Thursday put new limits on the power of the Securities and Exchange Commission to enforce securities laws — the latest ruling in a series of cases that take aim at federal agencies.

The Supreme Court has stripped the Securities and Exchange Commission of a major tool in fighting securities fraud in a decision that also could have far-reaching effects on other regulatory agencies

The US SEC reportedly might greenlight spot Ethereum ETFs by July 4 if discussions between investment firms and regulators are finalized.

In a groundbreaking case, former executives of Hydrogen Technology Corporation have been sentenced to prison for manipulating the price of the company’s HYDRO token.

The U.S. Securities and Exchange Commission has filed a lawsuit against Coinbase, accusing the exchange of facilitating unregistered securities trading. The outcome of this case may have far-reaching effects on the regulatory framework governing cryptocurrencies in the U.S.