Mirror: No one makes a name for himself taking action against naked shorts: Former SEC lawyer
VideoArticle: [News Focus] Legal risks persist at Samsung as Lee’s trial continues
Article - Media[News Focus] Legal risks persist at Samsung as Lee’s trial continues
Song Su-hyun, 10 June 2021
Samsung Group’s de facto chief Lee Jae-yong attended a court hearing on Thursday as part of an ongoing trial on alleged irregularities surrounding his ascension to the helm of the South Korean tech conglomerate.
As always, the tycoon, who is serving a 2 1/2-year jail term over a previous bribery conviction, didn’t utter a single word throughout the full-day session held at the Seoul Central District Court, as his attorneys fought hard to fend off additional convictions. The charges brought against him include stock market manipulation, accounting fraud and breach of trust. Continue reading “Article: [News Focus] Legal risks persist at Samsung as Lee’s trial continues”
Article: AURA RAISES $150 MILLION IN SERIES E FUNDING FROM WARBURG PINCUS
Article - MediaAURA RAISES $150 MILLION IN SERIES E FUNDING FROM WARBURG PINCUS
KARTHIK SUBRAMANIAN, 10 June 2021
The company says that it would be using this investment to improve the consumer experience, and also work on additional features and upgrades to the existing software as well as expansion globally.
“The rise of digitization and with it, digital crime, is fueling a rapidly expanding market opportunity for personal digital security with a total available market of more than $100 billion. In the first quarter of 2021 alone, identity theft grew more than 130 percent, driven by a dramatic increase in government benefits fraud — up nearly 4,000 percent,” said Hari Ravichandran, founder, and CEO, Aura. “At Aura, we’re working to bring peace of mind to consumers that their families are protected from financial crime.” Continue reading “Article: AURA RAISES $150 MILLION IN SERIES E FUNDING FROM WARBURG PINCUS”
Article: NAB Anti-Money Laundering Compliance: A disaster waiting to happen
Article - MediaNAB Anti-Money Laundering Compliance: A disaster waiting to happen
miragenews, 10 June 2021
The Finance Sector Union (FSU) is concerned about reports regarding the compliance failures at the NAB.
FSU National Secretary Julia Angrisano said the union has expressed its concerns to the NAB for many years, that the constant restructuring, casualisation, and setting of unrealistic targets has negative consequences for staff, the NAB, and the wider community.
“These concerns have now been borne out by media reports that show a workforce that is under great stress, trying to do the impossible with little resourcing and next to no training,” Ms Angrisano said. Continue reading “Article: NAB Anti-Money Laundering Compliance: A disaster waiting to happen”
Article: Wife of ‘El Chapo’ Pleads Guilty to Drug and Laundering Conspiracy
Article - MediaWife of ‘El Chapo’ Pleads Guilty to Drug and Laundering Conspiracy
Patricia Hurtado, 10 June 2021
The wife of Mexican drug kingpin Joaquin “El Chapo” Guzman pleaded guilty on Thursday to narcotics trafficking and money laundering conspiracy charges, almost two years after Guzman was sentenced to life in prison.
Emma Coronel Aispuro, 31, has been in U.S. custody since she was arrested at Dulles International Airport in Virginia in February, accused of helping her husband operate the multibillion-dollar Sinaloa cartel and aiding his escape from a Mexican prison through an underground tunnel.
She pleaded guilty, in federal court in Washington, to conspiring to distribute illegal drugs in the U.S. and to launder money, and to engaging in transactions with a foreign narcotics trafficker.
Coronel, a U.S. citizen born in California, admitted working for the drug empire in a scheme that began around the time of her marriage to Guzman in 2007 and ran to the end of 2019. Guzman was convicted of engaging in a continuing criminal enterprise, as well as on drug trafficking and firearms charges, as leader of the cartel.
As part of a plea agreement, Coronel faces nine to 11 years in prison, federal prosecutors said Thursday.
Tweet by zerohedge on Twitter
TweetFormer L Brands CEO And Well Known Epstein Pal Les Wexner Has Sold About $500 Million In Stock This Year https://t.co/YbT1eq0NVj
— zerohedge (@zerohedge) June 9, 2021
Article: SEC Launches Review Of High-Frequency Traders’ Market Abuses
Article - Media
SEC Launches Review Of High-Frequency Traders’ Market Abuses
Tyler Durden, 09 June 2021
Nearly 8 years have passed since Michael Lewis published “Flash Boys”, raising awareness of the relatively new practice of high-frequency trading and its transformative impact on markets, allowing the most technologically-advanced traders to effectively see a picture of the market that’s nanoseconds ahead of what their non-NFT peers see, giving them a massive advantage.
Now, the SEC is finally considering changing the rules of how stocks are priced and traded to stop exchanges from incentivizing brokers (nowadays, particularly retail trading brokerages that have seen an explosion of activity in the past couple of years).
Article: SEC sues over Marin Ponzi scheme, seeking $10 million
Article - MediaSEC sues over Marin Ponzi scheme, seeking $10 million
Braden Cartwright, 09 June 2021
Details of the largest financial crime in Marin’s history were revealed in a lawsuit filed last week by the Securities and Exchange Commission against the estate of Ken Casey, who operated a Ponzi-like scheme and stole more than $10 million until his death in May 2020. Mr. Casey’s two Novato-based companies, Professional Financial Investors and Professional Investors Security Fund, brought in hundreds of millions of dollars from more than 1,300 victims. Investors believed they were financing a part of 70 residential and commercial properties in the area; in reality, their money was being used to pay prior investors and line the pockets of Mr. Casey and his co-conspirator, Lewis Wallach. “Many of the investors were elderly, retired and relying on their investment income for daily living expenses,” attorney Bernard Smyth wrote. Several West Marin residents were snared in the scheme, and some were given a commission to bring in more investors. Continue reading “Article: SEC sues over Marin Ponzi scheme, seeking $10 million”
Article: US Attorney General Warns Ransomware ‘Getting Worse and Worse’
Article - MediaUS Attorney General Warns Ransomware ‘Getting Worse and Worse’/strong>
Masood Farivar, 09 June 2021
U.S. Attorney General Merrick Garland warned Wednesday that ransom-motivated cyberattacks are “getting worse and worse,” echoing other top Biden administration officials who have sounded the alarm about the problem in recent weeks.
“We have to do everything we possibly can here,” Garland told lawmakers. “This is a very, very serious threat.” Continue reading “Article: US Attorney General Warns Ransomware ‘Getting Worse and Worse’”
Tweet by Bob Pisani on Twitter – SEC Chair Gary Gensler V
TweetSEC Chair Gary Gensler @PiperSandler Exchange Conf:
Payment for order flow raises a number of important questions. Do broker-dealers have inherent conflicts of interest? If so, are customers getting best execution in the context of that conflict?
@SEC_News @CNBC— Bob Pisani (@BobPisani) June 9, 2021
Tweet by Bob Pisani on Twitter – SEC Chair Gary Gensler IV
TweetSEC Chair Gary Gensler @PiperSandler Exchange Conf:
Gamification of trading has features that may encourage investors to trade more, leading to more payment for order flow for the brokers. more active trading may result in lower returns for the average trader.@SEC_News @CNBC— Bob Pisani (@BobPisani) June 9, 2021
Tweet by Bob Pisani on Twitter – SEC Chair Gary Gensler III
TweetSEC Chair Gary Gensler @PiperSandler Exchange Conf: public exchanges account for only 53% of trading volume. 9% from dark pools, 38% from off-exchange wholesalers. Exchanges compete to offer best price, but wholesalers use a less competitive benchmark.@SEC_News @CNBC
— Bob Pisani (@BobPisani) June 9, 2021
Tweet by Bob Pisani on Twitter – SEC Chair Gary Gensler II
TweetSEC Chair Gary Gensler @PiperSandler Exchange Conf:
there are signs hat the NBBO [National Best Bid and Offer] is not a complete enough representation of the market with half of the trading interest either in dark pools or is internalized by wholesaler.@SEC_News @CNBC— Bob Pisani (@BobPisani) June 9, 2021
Tweet by Bob Pisani on Twitter – SEC Chair Gary Gensler
TweetSEC Chair Gary Gensler @PiperSandler Exchange Conf:
We now have the technology to further shorten the settlement cycles, not only to T+1, but even to same-day settlement — T+0 or “T+evening. Shortening the settlement cycle could reduce costs and risks.
@SEC_News @CNBC— Bob Pisani (@BobPisani) June 9, 2021
Article: U.S. stocks end lower ahead of inflation report
Article - MediaU.S. stocks end lower ahead of inflation report
Stephen Culp, 09 June 2021
NEW YORK (Reuters) – Wall Street ended a see-saw session lower on Wednesday as market participants awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.
The retail “meme stock” craze continued unabated. All three major U.S. stock indexes reversed earlier gains, but remained range-bound in the absence of any clear market catalysts. Continue reading “Article: U.S. stocks end lower ahead of inflation report”
