The Securities and Exchange Commission on Wednesday announced charges against eight “social media influencers” in what the agency said was a coordinated effort to manipulate stocks via multiple Internet platforms.
The agency said in a press release those charged where involved in a $100 million securities fraud scheme in which they used the social media platforms Twitter and Discord to “manipulate exchange-traded stocks.”
Sam Bankman-Fried, the founder of defunct cryptocurrency firm FTX, was charged Tuesday by the U.S. Securities and Exchange Commission with defrauding investors.
In a formal complaint, the SEC alleges that Bankman-Fried raised more than $1.8 billion from investors since 2019 but diverted the funds to his personal crypto account.
The biggest decision the Securities and Exchange Commission (SEC) is likely to make this year will be on mandated disclosure of information related to climate change and corporate environmental, social, and governance (ESG) goals. The Commission has been working on the issue since early last year, and a new proposed rule is now scheduled to be released on March 21st. The contents of that rule will likely determine the future direction of “responsible” investing in the United States.
In March of last year, then-Acting Chair Allison Herren Lee issued a request for information on the matter, consisting of 15 questions and described as a response to the “demand for climate change information and questions about whether current disclosures adequately inform investors.” The questions covered a wide range of topics, from how to measure greenhouse gas emissions to how climate disclosures “would complement a broader ESG disclosure standard.”
When the SEC first issued guidance on climate change-related disclosures for public companies in 2010, the standards were fairly general and advisory, but the questions from last year’s request-for-information suggests that the agency’s leadership is considering a more aggressive and prescriptive framework.
The Securities and Exchange Commission (SEC) plans to crack down on private companies, forcing them to disclose financial and operation statements more frequently, The Wall Street Journal reported.
Regulators have grown more concerned over the lack of oversight regarding private fundraising for companies, the WSJ reported. The private investment market has become a popular way for companies to raise money without undergoing the regulatory scrutiny required for public trading.
“When they’re big firms, they can have a huge impact on thousands of people’s lives with absolutely no visibility for investors, employees and their unions, regulators, or the public,” SEC Commissioner Allison Lee told the WSJ. “I’m not interested in forcing medium- and small-sized companies into the reporting regime.”
A series of new leaks from Big Tech giant Facebook has revealed even more bias against conservatives from the company’s employees, even to the point of causing internal debates between employees and upper management, according to the New York Post.
The latest leaks come from message board conversations reviewed by the Post, which showed back-and-forth discussions within Facebook about how to deal with conservative news outlets during last year’s race riots by far-left domestic terrorist organizations such as Black Lives Matter and Antifa.
Some employees expressed their desire to completely remove sites such as Breitbart from Facebook’s “News Tab” feature. When one such employee asked a manager about doing so, the manager responded by pointing out that “we saw drops in trust in CNN 2 years ago,” before rhetorically asking “would we take the same approach for them too?”
Another former Facebook employee filed a whistleblower complaint Friday with the Securities and Exchange Commission alleging that the tech giant misled its investors by failing to combat the spread of hate and misinformation on its platform, The Washington Post reported.
The former employee, whose name is not yet public, alleged that Facebook executives chose not to pursue adequate content moderation policies related to hate speech and misinformation for the sake of maximizing profits. The complaint also alleges that Facebook did not do enough about alleged Russian misinformation on the platform for fear of upsetting former President Donald Trump.
In particular, the complaint alleges that Trump and his associates received preferential treatment, according to the Post.
The Atlantic Coast Conference (ACC), along with the Southeastern (SEC) and Big-12 conferences, is sticking with its plan to play football in the fall.
After the Big Ten and Pac 12 conferences postponed its football seasons on Tuesday, the ACC released a statement online that emphasized an established plan of listening to advice from authorities and medical experts as well as making adjustments in necessary.
Republican Georgia Sen. Kelly Loeffler has turned over documents related to controversy over her stock-trading to the Securities and Exchange Commission, the Department of Justice and the Senate Ethics Committee, according to Politico.
The documents she submitted show that both she and her husband Jeffry Sprecher “acted entirely appropriately and observed both the letter and the spirit of the law,” a spokeswoman for Loeffler said in a statement to the Daily Caller News Foundation.
by Chris White Billionaire tech guru Elon Musk agreed to step down as the chairman of Tesla after the Securities and Exchange Commission sued the electric vehicle company for fraud, according to court documents published Saturday. Musk, who owns roughly 20 percent of the company, also agreed to pay…
By Robert Romano In March, the Securities and Exchange Commission (SEC) proposed a new transaction fee pilot that would “subject stock exchange transaction fee pricing, including ‘maker-taker’ fee-and-rebate pricing models, to new temporary pricing restrictions across three test groups, and require the exchanges to prepare and publicly post data,”…
By Robert Romano In March, the Securities and Exchange Commission (SEC) proposed a new transaction fee pilot that would “subject stock exchange transaction fee pricing, including ‘maker-taker’ fee-and-rebate pricing models, to new temporary pricing restrictions across three test groups, and require the exchanges to prepare and publicly post data,” according to the…