SEC Financial News

Trump and his new Middle East envoy, billionaire Steve Witkoff, has partnered with a crypto platform that authorities and financial experts say has been used by criminals and Iran-backed militant groups Hamas and Hezbollah. World Liberty Financial Inc, founded by the Witkoff family two months before November's U.S. election with Trump as a financial beneficiary, presents concerns over ethics and conflicts of interest, say six specialists in U.S. government ethics. Among their biggest concerns is World Liberty's new partner: Tron crypto platform.

Adani Group stocks surged by up to 9% on Thursday after FBI Director Chris Wray announced he would step down from his position early next year. The news follows signals from Republican President-elect Donald Trump indicating his intention to dismiss the veteran official and replace him with Indian-American Kash Patel. The combined market capitalization of all Adani Group stocks increased by Rs 28,000 crores.

Morgan Stanley Smith Barney will pay a $15 million penalty as part of a settlement with the Securities and Exchange Commission related to four financial advisers who stole millions of dollars of advisory clients’ and brokerage customers’ funds

Bitcoin (BTCUSD) traded above $100,000 for the first time ever late Wednesday, then kept rising.

Bitcoin (BTCUSD) soared past $100,000 for the first time Wednesday night, and analysts think it could stay there.

President-elect Donald Trump’s pick of a crypto proponent to be the next head of the United States securities regulator lifted Bitcoin to US$100,000 for the first time as traders warmed to the prospect of relaxed regulations.

For the first time in its history, the cryptocurrency eclipsed the $100,000 mark, hitting a high of $103,853 earlier on Thursday (5 December), according to data from MarketWatch. At the time of reporting, bitcoin it up more than 3.4% on Thursday and has jumped over 8% in the previous five days.  Atkins, a former SEC commissioner under George W. Bush, is renowned for his support of crypto and has previously made the case against excessive market regulation.  Trump policies spark volatility for US Treasuries and add pressure to rising national debt levels In a post on his social m...

Bitcoin has topped the $100,000 mark as a massive rally in the world’s most popular cryptocurrency sparked by the election of Donald Trump rolls on.

President-elect Donald Trump says he intends to nominate cryptocurrency advocate Paul Atkins to chair the Securities and Exchange Commission

Bitcoin (BTCUSD) traded above $100,000 for the first time ever in late trading Wednesday.

Bitcoin has topped the $100,000 mark as a massive rally in the world’s most popular cryptocurrency sparked by the election of Donald Trump rolls on

Stocks that rallied over 10% included, Nelco Ltd(14.79%), Kilpest India(13.90%), Darshan Orna(13.33%), Response Informatic(12.37%), Raghuvir Synthetics(11.54%), Ramco Systems(10.56%), Hikal Ltd(10.45%), Bombay Wire Rope(10.45%) and Mefcom Capital(10.01%).

Choksi Imaging(up 19.99%), IO System Ltd(up 19.96%), Pudumjee Paper Prod(up 18.15%), BN Rathi Sec(up 17.24%) and Nelco Ltd(up 16.08%) were among the stocks that surged over 15%.

Adani Group stocks will be in focus on Monday after Gautam Adani, chairman of the energy-to-infrastructure conglomerate, addressed ongoing challenges, including allegations of bribery and fraud involving Adani Green Energy. Speaking at the 51st Gem & Jewellery Awards in Jaipur on Saturday, Adani described the allegations as opportunities to strengthen the group. «Less than two weeks ago, we faced allegations from the US regarding compliance practices. Every attack makes us stronger, and every obstacle becomes a stepping stone for resilience,» Adani said, referring to charges filed by the US Department of Justice and the SEC.

Adani Group side has been charged with any violation of the Foreign Corrupt Practices Act (FCPA), or any conspiracy to obstruct justice, Gautam Adani said on Saturday. He was speaking at an award ceremony in Jaipur. This is the first time that the billionaire founder of the Adani Group has spoken since the US Department of Justice and the US SEC levied charges of bribery among others, on certain executives of the group, including him on November 21. “This is not the first time we have faced such challenges,” he said at the award function. “What I can tell you is that every attack makes us stronger and every obstacle becomes a stepping stone for a more resilient Adani Group,” he said.

Sanjay Asher, Senior Partner, Crawford Bayley & Co, says there would be a legal divide between the European banks and the Middle Eastern and the Japanese banks. Having regard to the facts and circumstances, if the Japanese and the Middle Eastern banks had come to a decision to support the Adani Group, then they would have surely done their homework. Are banks seeing problems associated with Adani Group on a long-term basis and not short term? Sanjay Asher: Absolutely, they are seeing from a long-term basis. They would have analysed the facts and circumstances and then they would have come to a decision or a conclusion that they want to support the Adani Group. They would have considered not only the financial position but also the legal position as it stands before the SEC and the DOJ and then come to this particular decision in my view.

stocks rallied as much as 15% in Mumbai trading on Wednesday even as equity benchmarks, BSE Sensex and NSE Nifty, traded in the amid brisk in frontline bluechip counters. Stocks that surged in excess of 15% included, Indo Cotspin(20.00%), Chennai Multi(19.99%), Ola Electric Mobilit(19.99%), Adani Gas(19.76%), Adani Power(19.65%), Thirani Projects(18.58%), Ellora Trading Ltd.(18.33%), Xpro India(17.33%) and Shaily Engg Plastics(16.35%).

On the BSE, Nova Pub(down 14.68 per cent), WABCO India(down 13.73 per cent), Inani Marbles(down 10.00 per cent), 3P Land Holdings(down 9.99 per cent) and Amanaya Ventures(down 9.96 per cent) stood among the top losers in today's trade.

The dollar rose over 2% against the Mexican peso and 1% against its Canadian counterpart.

With criminal charges or action by the Securities and Exchange Commission, it’s very common that, within hours sometimes, investor lawsuits start pouring in, said William Devaney, partner at international law firm Baker & McKenzie LLP and a former federal prosecutor. “They tend to play out for years and often end up in settlements,” he added.

Adani Group founder Gautam Adani and his nephew Sagar Adani in connection with allegations of a Rs 2,200 crore ($265 million) bribery scheme, according to the Press Trust of India.