SEC Financial News

The United States Securities and Exchange Commission (SEC) will continue to “ramp up” its ruling-by-enforcement approach in 2024, Norton Rose Fulbright’s 2024 FinTech Outlook released this past week reveals.

I intend to make a gift of ₹1 lakh to my adult daughter. What will be the tax implications of this gift for me as well as my daughter? Do I need to follow any procedure for making the gifts? Do I need to prepare any gift deed, if yes, what is the stamp duty applicable? Is the gift deed required to be registered?

Do Kwon, co-founder of Terraform Labs, is expected to miss the beginning of his US Securities and Exchange Commission (SEC) trial on fraud charges due to delays in his extradition from Montenegro. The trial which was set to begin last month was postponed to March 25 on Kwon’s request.

Billionaire investor Mike Novogratz believes many of the lawsuits brought under current Securities and Exchange Commission Chair Gary Gensler will be dropped. 

Cryptovsummit, an event organized by DoubleMorgan and led by its founder Mena Botros, has become a cornerstone in the crypto industry, particularly in the Dubai region. With a successful track record of five years, this annual event has consistently drawn investors, fostering crucial long-term business relationships. The upcoming edition on April 17th, 2024, in Dubai, U.A.E promises to be especially significant as it coincides with the Bitcoin halving, creating an atmosphere of anticipation for groundbreaking developments in the crypto space.

The United States Securities and Exchange Commission (SEC) has opened the floor for public comments regarding a proposed rule change that would allow the listing and trading of options for Bitcoin (BTC) exchange-traded funds (ETFs).

LPL Financial Holdings Inc. appears to be on the hook for a $50 million settlement and penalty from the Securities and Exchange Commission over compliance failures in keeping records of financial advisors’ and employees’ electronic communications, such as text messages and apps.

JPMorgan Chase CEO Jamie Dimon has sold about $150 million of his shares in the bank, a SEC filing showed on Thursday, marking the first time the head of the largest U.S. lender has sold shares since taking charge in 2005. The bank has a market capitalization of more than $527 billion, according to LSEG data.

Blade Sweep Size: 110 mm Battery Backup: 4 hours Speed: 2100 RPM Features: USB Charging, LED Light, Silent Operation Material Type: Plastic Mounting Type: Tabletop The Geek Aire GF3 is a standout rechargeable fan, combining portability with powerful performance. Its 5-speed option and aerodynamic 4-blade design ensure optimal airflow, suitable for personal use in various settings including home, office, and outdoor activities. The 2500 mAh Li-ion battery offers 3-8 hours of operation, depending on the speed setting, making it reliable for extended use.

cryptocurrency company and an industry group sued the U.S. Securities and Exchange Commission on Wednesday, saying the regulator has overstepped its authority and asking a judge to rule that digital assets traded on exchanges are not securities. Fort Worth-based crypto company Lejilex and lobbying group Crypto Freedom Alliance of Texas (CFAT) claim the SEC has asserted jurisdiction over the industry without a «clear statutory mandate.»

By Jonathan Stempel

Train follows a «well-defined» investment philosophy, but has become «gloomier» on small and mid-caps due to market liquidity concerns amid outflows, the firm's fund research analysts said in their latest qualitative Medalist Rating rebalancing. The £1.8bn Finsbury Growth & Income trust has underperformed the AIC UK Equity Income sector in the past three years, according to the Association of Investment Companies. In share price terms, the trust is up 4.1% in the last three years, while the sector has gained 17.2%. Its  NAV total return is up 12.6% over the period, compared to the sec...

New tokens in the crypto market keep the industry abuzz. At the moment, XRP and Cardano (ADA) holders are considering the presale token Algotech (ALGT), a worthy addition to their crypto portfolios, for its anticipated returns at the end of the presale. Find out the best coin to invest in today between XRP, Cardano (ADA), and Algotech (ALGT).

Texas-based cryptocurrency firm Lejilex has filed a lawsuit against the Securities and Exchange Commission (SEC) over securities labels on cryptocurrency assets.

The mountain of cash at Warren Buffett’s Berkshire Hathaway just keeps growing. Berkshire’s tally of cash and equivalents has marched skyward for five consecutive quarters, reaching a record $157.2 billion at the end of September. Whether it finished 2023 at new heights is one question investors will look to answer when the Omaha, Neb., company releases its annual report Saturday.

In a blog post published by the European Central Bank, Ulrich Bindseil, director general of market infrastructure and payments and Jürgen Schaaf, an advisor to the central bank, say that for bitcoin lobbyists the formal approval by the SEC confirms that Bitcoin investments are safe and the preceding rally is proof of an unstoppable triumph. In the mid-2010s, the hope that bitcoin's value would inevitably rise to ever new heights began to dominate the narrative. But bitcoin is neither suitable as an investment or even as a real-world means of payments, the blog argues. Bindseil and Schaff believe that lower interest rates and the SEC green light have opened the floodgates to Wall Street for bitcoin, promising large inflows of funds, "the only effective fuel in a speculative bubble".

In May 2023, Centrum Broking estimated the implied market cap of US-based aluminium manufacturer, Novelis, at approximately $9.7 billion. It was an “implied" market cap as Novelis is an unlisted entity, wholly owned by AV Minerals of the Netherlands, which in turn is under the full ownership of Kumaramangalam Birla's flagship Hindalco. With Hindalco's recent move to seek SEC approval for an IPO, this implied valuation may soon translate into an actual market cap as AV plans to sell part of its stake.

income tax demand. CBDT said in the order, «Consequent to the aforesaid remission and extinguishment of entries of outstanding demand, there shall not be requirement of calculation of interest on account of delay in payment of demand under sub-section (2) of section 220 of the Income-tax Act, 1961 or corresponding provisions of Wealth-tax Act, 1957 and Gift-tax Act, 1958 and therefore, the same shall not be considered for the purpose of determining the ceiling of Rs 1,00,000 (Rupees one lakh).» Also read: Tax demand up to Rs 1 lakh/person waived: Check ITR a/c.

Grayscale, the world’s largest crypto asset manager, is looking to invest in the emerging market for data privacy with a new exchange-traded fund.

The leader of the Securities and Exchange Commission’s (SEC) crypto and cyber litigation legal team has left to join private firm White & Case, according to a February 21 press release.

(Reuters) — A court in Montenegro on Wednesday ruled that crypto entrepreneur and Terraforms Labs co-founder Do Kwon should be extradited to the United States, rather than to his home country South Korea, to stand trial on fraud charges, the Wall Street Journal reported.