LEXINGTON, Ky.—Between Kenny McIntosh and Jack Podlesny, top-ranked Georgia got all the important points it needed on a day where style points weren’t possible. McIntosh rushed for a career-best 143 yards, including a crucial 9-yard score late in the third quarter, and the Bulldogs withstood Kentucky’s fourth-quarter rally Saturday for a 16–6 win and its…
House Republicans Accuse SEC of ‘Hypocrisy’ and Violating Record-Keeping and Transparency Laws
House Republicans accused Securities and Exchange Commission Chairman Gary Gensler and his agency of hypocritically failing to comply with federal record-keeping and transparency laws that they impose on others. A letter signed by Republican congressmen Jim Jordan of Ohio, Patrick Henry of North Carolina, James Comer of Kentucky, and Tom Emmer of Minnesota, was sent to the…
US Fines 16 Wall Street Firms $1.8 Billion for Talking Deals, Trades on Personal Apps
U.S. regulators on Tuesday fined 16 financial firms, including Barclays, Bank of America, Citigroup, Credit Suisse, Goldman Sachs, Morgan Stanley, and UBS, a combined $1.8 billion after staff discussed deals and trades on their personal devices and apps. The sweeping industry probe, first reported by Reuters last year and subsequently disclosed by multiple lenders, is…
Oracle to Pay About $23 Million to Resolve a Second SEC Bribery Case
Oracle Corp. will pay about $23 million to resolve charges its units in Turkey, the United Arab Emirates and India used slush funds to bribe foreign officials in order to win business, the U.S. Securities and Exchange Commission said on Tuesday. The case covered alleged wrongdoing from 2014 to 2019, and is the second time…
US Farmers Grab the Lobbying Pitchforks as Greens Sow Costly New Reporting Mandates
Echoing conflicts from Sri Lanka to Canada to the Netherlands, tensions between farmers and green-minded government policymakers are building in the United States, where producers are squaring off against a costly proposed federal mandate for greenhouse-gas reporting from corporate supply chains. The U.S. Securities and Exchange Commission in March proposed requiring large corporations, including agribusinesses and food companies, to report…
Biden White House Issues Framework for Regulating Digital Assets
The Biden administration has released its first-ever comprehensive framework aimed at regulating digital assets like cryptocurrencies, including cracking down on fraud and fostering financial stability. In March, President Joe Biden issued an executive order seeking to ensure the responsible development of digital assets. Since then, multiple government agencies have been framing policies aimed at pushing…
SEC Charges VMware With Misleading Investors by Obscuring Financial Performance
WASHINGTON—The U.S. Securities and Exchange Commission said on Monday it has charged cloud computing company VMware Inc. with misleading investors by obscuring its financial performance. The company was charged with misleading investors about its order backlog management practices, which the agency said enabled it to push revenue into future quarters by delaying product deliveries to…
Capital Markets Freeze Up as Market Volatility Persists
It’s been a hard year for companies that want to raise capital. The initial public offering (IPO) market, which allows a company to raise money by selling shares to the public investors, has witnessed a sharp decline this year, following a record-breaking year in 2021. Public offerings in the United States are on track for…
The SEC versus Ripple Labs—XRP’s Fight Against Administrative Overreach
It’s been nearly 20 months since the Securities and Exchange Commission (SEC) sued Ripple Labs for selling XRP as unregistered securities. John Deaton, who represents Ripple in the SEC vs. Ripple Labs court case battle, believes there’s major evidence of overreach by the SEC. In December 2020, the Ripple case was launched by Jay Clayton,…
Big Banks Face $1 Billion in Fines Over WhatsApp, Other Unapproved Message Tools, Says Report
Major banks such as JPMorgan Chase, Citigroup, and Bank of America are collectively facing more than $1 billion in regulatory fines, after employees used unapproved communication tools, such as private email and messaging apps like WhatsApp. The U.S. Securities and Exchange Commission (SEC) discovered the violations after probing several banks’ record-keeping practices relating to the use…
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