Regulations
The latest regulatory changes, updates, and decisions impacting the alternative investment sector.
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The U.S. Securities and Exchange Commission (SEC) has postponed its decision on spot bitcoin exchange-traded fund (ETF) applications, including those from BlackRock (NYSE: BLK), Fidelity, and others, until October. This delay, outlined in agency filings, has caused a 4.65% drop in the price of bitcoin over the past 24 hours, bringing it down to $25,961.12.
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More Stories on Regulations
Private Equity in the Dock for Alleged “Surprise Billing Practices”
A bipartisan Congressional investigation is to determine whether private equity giants are behind price gouging in emergency care.
“Surprise billing practices” are unexpectedly large medical bills from an out-of-insurer-network physician for emergency treatment. These bills could also emanate from an out-of-network physician or ancillary clinician working in an in-network hospital.
SEC Charges Jay Daniel Seinfeld and Social Worker on Fraud Scheme
SEC Issues Investor Warning after Seinfeld Defrauds Terminally Ill Jay Daniel Seinfeld used a fake charity to defraud terminally ill patients out of their money. Let that one sink in for a minute. The SEC has settled charges with Seinfeld, his firm Traditions Capital Management and his fake charity, the Hospice Patient Aid Program. The…
Department of Justice Slaps Three Traders with RICO Charges
JPMorgan – AKA Bank A – Traders Charged with Market Manipulation The Department of Justice just made JPMorgan’s public relations team buy a lot of headache medication. Two JPMorgan precious metals traders and one former trader face charges for their alleged participation in a racketeering conspiracy. They also face charges of other federal crimes in…
SEC Hits Stifel and BMO Capital with Big Fines
Firms provided incomplete or inaccurate data to the agency Stifel Nicolaus will pay $2.7 million, while BMO Capital Markets will pay $1.95 million to settle charges with the SEC. The firms provided incomplete and inaccurate securities trading information to the SEC. The agency said Monday that broker-dealers must provide information known as “blue sheet data”…
RegTech Revenues Climb in Step with Startup Activity, Says CCAF Benchmarking Report
RegTech revenues in 2018 top $5 billion following a sharp pickup in startup activity
The above statistic is a finding of the “Global RegTech Benchmarking Report,” published by The Cambridge Centre for Alternative Finance (CCAF) and sponsored by EY Japan.
SEC Charges Herbert Hafen With Financial Fraud
Hafen was previously barred by FINRA in early 2019 Herbert Hafen is having a tougher day than you are. The Securities and Exchange Commission has charged Herbert Hafen with defrauding multiple retail clients. From 2011 to 2018, Hafen allegedly misappropriated about $1.6 million of client assets. The U.S. Attorney’s Office for the Southern District of…
ESMA Hikes Frequency of Liquidity Stress Tests on European funds
European funds such as UCITs, AIFs, and ETFs must conduct quarterly liquidity stress tests, according to the European Securities and Markets Authority (ESMA)
The funds must implement these tests from September 2020.
SEC Fraud Charges: Cambridge Capital Group Advisors, Broad Reach Capital, San Diego-based ANI Development
NFL Fraud, Covering that Amex Tab, and a Scam Involving Booze in California SEC fraud charges are more common than you think. On Thursday, the SEC has charged multiple parties with fraud. The defendants comprise Cambridge Capital Group Advisors, its president Phillip Timothy Howard, and Don Warner Reinhard, a former RIA already barred by the…
SEC Charges Michael Hild for Fraud
Charges spawn from a complex bond pricing scheme Michael Hild, founder and CEO of Live Well Financial, faces charges for running a $140 million bond scheme. The U.S. Attorney’s Office for the Southern District of New York charged him with securities fraud, mail fraud, and bank fraud. The government says that the scheme involved the…