Jack J. Kelly, Author at Compliancex

Fear of a recession could become a self-fulfilling prophecy

Jack J. Kelly Inflation, recession July 1, 2022

Fear of a recession could be the final straw that actually tips the economy into that recession, some analysts say. Driving the news: Persistent inflation, and the Federal Reserve’s campaign to rein it in, are conspiring to tip the economy into a downturn — one ...Read More

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Here’s How Long Bear Markets Last — and How Stocks React When They End

Jack J. Kelly Bear Market, Stock Market July 1, 2022

Investors everywhere are wondering: When will the bear market end, and just how bad will returns be during the downturn? Bear markets, defined as when the stock market falls at least 20% from its recent peak, are often associated with recessions, but the two ...Read More

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Apple’s former securities lawyer pleads guilty for doing the insider trading he was supposed to prevent

Jack J. Kelly Fraud, Insider Trading, SEC, Securities and Exchange Commission July 1, 2022

A former Apple lawyer who was in charge of preventing insider trading has pleaded guilty to six counts of securities fraud for insider trading, according to a Department of Justice (DOJ) press release. Gene Levoff, once the company’s former corporate secretary and director of corporate ...Read More

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Grayscale sues SEC after rejection of bid to turn the largest bitcoin fund into an ETF

Jack J. Kelly ETF, SEC, Securities and Exchange Commission June 30, 2022

Grayscale, which manages the world’s largest bitcoin fund, said it would sue the U.S. Securities and Exchange Commission after regulators turned down its bid to convert the investment vehicle into an exchange-traded fund. The SEC on Wednesday rejected Grayscale’s application for a spot bitcoin ...Read More

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Crypto hedge fund Three Arrows Capital is an ‘old-fashioned Madoff-style Ponzi scheme,’ research firm FSInsight says

Jack J. Kelly Cryptocurrency, Hedge Fund, Ponzi Scheme June 29, 2022

The crypto industry was “brought to its knees” in recent weeks by an “old-fashioned Madoff-style Ponzi scheme” wrapped in a trade that was similar to the positions that sunk Long Term Capital Management (LTCM),” research firm FSInsight said in a report Friday looking at the implications ...Read More

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Why not a single banker was jailed over HSBC’s billion-dollar money laundering scandal

Jack J. Kelly Anti-Money Laundering, HSBC, Money Laundering, Scandal June 28, 2022

No senior banker went to jail over 2008; no HSBC banker was charged, let alone went to jail, when the bank admitted in 2012 to enabling the laundering of billions of dollars of drugs money for El Chapo and his Mexican Sinaloa cartel. The reason, as I ...Read More

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Credit Suisse found guilty in cocaine cash laundering case

Jack J. Kelly Money Laundering June 27, 2022

Credit Suisse was convicted by Switzerland’s Federal Criminal Court on Monday of failing to prevent money-laundering by a Bulgarian cocaine trafficking gang in the country’s first criminal trial of one of its major banks. A former employee was found guilty of money-laundering in the ...Read More

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Jim Rogers warns of the ‘worst bear market’ in his lifetime

Jack J. Kelly Bear Market, Stock Market, Stocks June 22, 2022

With the S&P 500 down 21% year-to-date, the situation for stocks is pretty grim — but according to legendary investor Jim Rogers, it’s just the start. “This has to be the worst bear market in my lifetime, which means it will go down a ...Read More

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FBI says fraud on LinkedIn a ‘significant threat’ to platform and consumers

Jack J. Kelly FBI, Fraud, Scam June 21, 2022

Fraudsters who exploit LinkedIn to lure users into cryptocurrency investment schemes pose a “significant threat” to the platform and consumers, according to Sean Ragan, the FBI’s special agent in charge of the San Francisco and Sacramento, California, field offices. “It’s a significant threat,” Ragan said in ...Read More

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‘Crypto Winter’ Could Become ‘Crypto Hell’

Jack J. Kelly Cryptocurrency June 21, 2022

When a traditional bank fails, a SWAT team of regulators swoops in, winding it down in secret and preventing a panic that could spread throughout the financial system. In cryptocurrency banking, the demise happens in full public view—and there is no regulatory SWAT team ...Read More

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