SEC Financial News

Unfortunately for everyone in the industry, it takes an awful lot more work to recover a damaged franchise than it does to keep a functioning company going. So when a financial firm gets into as much trouble as Janus Henderson did after what was famously one of the worst mergers in fund management history, there were bound to be some blood sweat and tears involved for Ali Dibadj the CEO who was brought in two years ago to try to turn things around.

Morgan Stanley is facing a class-action lawsuit alleging that it breached its fiduciary duty by offering unreasonably low interest rates on client cash sweep accounts.

June hasn't been kind to bitcoin: The price of the cryptocurrency briefly slipped below the $60,000 level Monday after it looked like it could surpass the previous all-time high of more than $73,000 earlier in the month.

The price of Ether could experience a significant drop to as low as $2,400 following the launch of spot Ether exchange-traded funds (ETFs), representing a nearly 30% fall from its current price.

Allspring Global Investments, the mutual fund manager overseeing $570 billion in assets, has signaled its intentions to enter the active ETFs market.

The number of RIAs reached a new record high in 2023, with 15,396 registered with the SEC, up from 15,114 in 2022 which was the previous all-time high.  It was the 12th consecutive year of growth.

The SEC has ended its investigation into whether Ethereum’s Ether token is a security, according to Ethereum developer Consensys.

The SEC has barred a former Fifth Third advisor who violated his clients’ trust by secretly funneling hundreds of thousands of dollars of their money into failed options trades.

The past week has been a wild ride for the price bitcoin (BTC).

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.

Ethereum is currently hovering slightly below its pivot point of $3,540, trading at $3,536. Bloomberg ETF analyst Eric Balchunas has raised eyebrows by predicting that spot Ether ETFs could begin trading as early as July 2nd.

Bitcoin ETF, particularly BlackRock's IBIT, has been the fastest-growing ETF to date, reaching $20 billion in just 137 days. In comparison, the next closest, JEPI, took nearly 1,000 days to achieve the same milestone. Now that the money men have tasted blood, and Ethereum spot ETFs to be listed, there are some interesting developments in the crypto market. While the primary impact is directly on Ethereum, there's been a fascinating secondary effect – a surge in the valuations of memecoins built on the Ethereum blockchain. Let's understand how this development is impacting the memecoin landscape and what it means for the future.

Ripple Labs made a strong case in its lawsuit against the US Securities and Exchange Commission (SEC) on June 13. Citing the Terraform Labs settlement, Ripple argued that the penalty proposed by the regulatory body should be reduced to $10M. By drawing this parallel, Ripple seeks to reduce the SEC’s proposed penalty.

With inflation having driven up costs for registered investment advisors in the past year, finding things that have actually become less expensive is always welcome.

Ether, the native cryptocurrency of the Ethereum network, has experienced a notable increase in long-term holder accumulation, coinciding with a 2% price drop over a 24-hour period.

During a Senate Appropriations subcommittee hearing held on June 13, Senator Dick Durbin, D-Ill., questioned CFTC Chair Rostin Behnam and SEC Chair Gary Gensler on the CFTC’s ability to regulate the crypto sector effectively.

Tesla shareholders on Thursday voted to restore CEO Elon Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year. Vote totals were not immediately announced. The favorable vote doesn't mean CEO Musk will get the all-stock compensation anytime soon. The package is likely to remain tied up in the Delaware Chancery Court for months as Tesla appeals the rejection.

The Securities and Exchange Commission on Wednesday barred a former LPL Financial advisor who worked alongside Andrew Komarow, a former financial advisor who built a practice focused on clients with special needs and autism and who recently was barred from the securities industry for a trading scheme.

Tesla shareholders are charting the future of the electric vehicle company Thursday as they wrap up voting whether or not to restore CEO Elon Musk’s massive pay package that was thrown out by a Delaware judge

After settling its civil fraud suit with the U.S. Securities and Exchange Commission (SEC) on June 12, Terraform Labs, the blockchain protocol created by Do Kwon, announced it will cease operations on Thursday.

An investment firm and its founder have been charged by the SEC with running an investment scheme which defrauded investors of at least $3 million.