Archegos Exposes SEC Blind Spots, Dithering on Market Oversight
Robert Schmidt and Benjamin Bainx, 10 April 2021
The U.S. Securities and Exchange Commission was supposed to be able to spot a whale like Bill Hwang by now. As the financial world knows, it didn’t. Will the agency be able to catch the next one?
The collapse of Hwang’s Archegos Capital Management represents one of the most spectacular failures of risk-management and oversight in recent memory. For the SEC, it caps a decade of foot-dragging on protections that were meant to avert, or at least minimize, just such a blowup. Continue reading “Article: Archegos Exposes SEC Blind Spots, Dithering on Market Oversight”
Overstock Fights Wall Street Over Dividend Amid 400% Rally
Robert Schmidt and Ben Bain
Bloomberg, 18 May 2020
If Overstock’s dividend plan proves successful, the implications for U.S. markets could be significant. More companies may decide to dabble in digital assets or add restrictions to their shares, especially if they find that doing so gives them more sway over their investors. On Wall Street, brokerage firms and exchanges are loath to see the launch of any security that raises the specter of a monopoly and could cut them out of trading and listing fees.
Continue reading “Article: Overstock Fights Wall Street Over Dividend Amid 400% Rally”
German cabinet extends ban on naked short selling
Sam Edmonds, 02 February 2010
German Chancellor Angela Merkel’s cabinet has approved a draft law widening the government’s recent temporary ban on the short sale of certain types of shares – a practice known as naked short-selling. Continue reading “Article: German cabinet extends ban on naked short selling”