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Digital World CEO urges shareholders to vote on merger extension
... TMTG runs the Truth Social app co-founded by the former U.S. president after he was banned from Twitter . The deal has been iced due to criminal and civil investigations into the circumstances surrounding it. Digital World had been hoping that the U.S. Securities and Exchange Commission would have given its blessing by now, as it is reviewing its disclosures on the deal. Individual investors, who make up about 90% of its shareholder base, are not as familiar with voting their shares, and the company is facing an uphill task....
Updated: 09/30/2022
Former Infinity Q chief risk officer to settle charges of fraud
... $1 billion, securities regulators said on Friday. Scott Lindell failed to exercise reasonable care and to undertake an appropriate investigation regarding multiple red flags that indicated the value of Infinity Q funds' positions was inappropriate, the U.S. Securities and Exchange Commission said in charges filed in Manhattan federal court. The court will decide on the charges, with the determination of disgorgement, prejudgment interest, and civil money penalties at a later date, according to the regulators. Lindell was not immediately ...
Updated: 09/30/2022
Mobileye files for IPO of self-driving technology business
... Global Inc. , the worst market for New US listings since the Financial Crisis, has filed for an initial public offering of its self-driving technology business. The plan for the share sale was not disclosed by the company in its filing Friday with the US Securities and Exchange Commission . The filing states that the mobileye will continue to be controlled by Intel after the IPO . It could be one of the biggest US offerings of 2022 if the listing goes ahead this year. In a year in which the US share of listings has fallen ...
Updated: 09/30/2022
Canada's Ontario Securities Commission lays out case against Troy Richard James Hogg
... apologize, but this video didn't load. Click here to see other videos from our team. Try refreshing your browser, or The Ontario Securities Commission laid out its case Friday against Troy Richard James Hogg and affiliated companies at the same time the U.S. Securities and Exchange Commission announced charges against Hogg and several U.S. residents in the United States District Court Southern District of Florida. The OSC said there was an offering of a criptocurrency token that raised $51 million from investors. The Canadian regulator ...
Updated: 09/30/2022
U.S. regulator urges firms to admit wrongdoing in Wall St settlements
... after another, after another, and the deterrence doesn't seem to be working, so I'm looking for a greater deterrent impact. If a defendant admits to their conduct and suffers the full consequences, they might not engage in the same conduct. On Tuesday, the Securities and Exchange Commission fined 16 financial firms, including Bank of America , Citigroup , Goldman and Morgan Stanley , a combined $1.8 billion because staff used personal devices to discuss trades and deals, violating record-keeping rules. The agencies admitted ...
Updated: 09/30/2022
Buffalo's buyout of Occidental shares keeps Berkshire Hathaway on track
... broader stock market. In the afternoon, the stock OXY increased by 0.1%, even as continuous crude-oil futures CL 00 fell 0.9%, the SPDR Energy Select Sector exchange-traded fund XLE shed 0.7% and the S&P 500 index SPX fell 2.6%. In a Form 4 filing with the Securities and Exchange Commission , Occidental OXY showed that Berkshire Hathaway BRK.B, BRK.A, spent $352.07 million to buy 5,978, 190 common shares in a series of transactions from Sept. 26 to Sept. 28 at a weighted average price of $58.893, according to a MarketWatch analysis....
Updated: 09/29/2022
SEC announces $15 million penalties for settling FCPA charges
The Securities and Exchange Commission SEC announced Tuesday that Oracle will pay millions of dollars for settling charges related to the Foreign Corrupt Practices Act FCPA. The Securities and Exchange Commission SEC announced Tuesday that Oracle will pay millions of dollars ...
Updated: 09/29/2022
Cryptocurrency regulation may double its value under CFTC regulations
... conduct its own investigations. The Senate Agriculture Committee's measure to name the CFTC as the primary regulator of the sector would make it clear who is responsible for overseeing the industry in the U.S. Regulations are currently handled by the Securities and Exchange Commission and the CFTC . See Also: Terra-Founder Do Kwon Refutes Reports Of Cashing Out Shortly After Arrest Warrant Issued
Updated: 09/29/2022
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