Compliancex - Page 5 of 13 - The Compliance Exchange

What Are SPACs, the Trend Blowing Up the Finance World?

Jack J. Kelly Finance, SPAC March 3, 2021

Empty-shell companies have raised tens of billions of dollars this year so far, and everyone from Colin Kaepernick to SoftBank is getting in on it. By now, you may have heard of a new bubble that has taken its place among the pantheon of ...Read More

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Hedge fund billionaire Sandell pays $105 million to settle NY tax fraud case

Jack J. Kelly Fraud, Hedge Fund, Taxes March 3, 2021

NEW YORK (Reuters) – The billionaire hedge fund manager Thomas Sandell has paid $105 million in back taxes and damages to settle charges he defrauded New York state and New York City out of taxes on a decade’s worth of fees, officials said on ...Read More

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Biden’s SEC pick: Some crypto markets ‘rife with fraud and scams’

admin Biden, Fraud, Scam, SEC March 3, 2021

Gary Gensler, President Joe Biden’s pick to head the Securities and Exchange Commission (SEC), told Congress Tuesday that the “greater challenge” in bitcoin and cryptocurrencies is protecting investors. “Some markets have been really rife with fraud and scams,” Gensler told the Senate Banking Committee ...Read More

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Covid-19 Vaccine ‘Passports’ Raise Ethics Concerns, Logistical Hurdles

Jack J. Kelly Covid-19, Logistical March 2, 2021

As vaccine rollouts gain momentum, governments world-wide are looking at ways for people to prove they are inoculated against the coronavirus, raising logistical and ethical concerns about whether others will be excluded from daily life. The U.K. government recently announced it will consider whether Britons ...Read More

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Biden’s CFPB nominee Rohit Chopra brings ‘substantive’ regulatory expertise

admin Biden, Finance, Regulators March 2, 2021

Rohit Chopra, President Joe Biden’s nominee to lead the Consumer Financial Protection Bureau, is likely to return the agency to its original incarnation, proactively rooting out bad actors and levying hefty fines on violators, regulatory experts say. Chopra’s confirmation hearing on Tuesday will be ...Read More

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Senate vetting Biden’s choice for SEC head amid stock drama

Jack J. Kelly Biden, SEC, Stocks March 2, 2021

WASHINGTON (AP) — President Joe Biden’s choice to head the Securities and Exchange Commission is coming before a Senate panel for his confirmation hearing at a moment when a roiling stock-trading drama has spurred clamor for tighter regulation of Wall Street. Gary Gensler, a ...Read More

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Jack Ma loses title as China’s richest man after coming under Beijing’s scrutiny

Jack J. Kelly China, Jack Ma March 2, 2021

BEIJING (Reuters) – Alibaba and Ant Group founder Jack Ma has lost the title of China’s richest man, a list published on Tuesday showed, as his peers prospered while his empire was put under heavy scrutiny by Chinese regulators. Ma and his family had ...Read More

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Wall Street Is Set to Learn How Tough Biden’s Watchdogs Will Be

Jack J. Kelly Biden, Wall Street March 1, 2021

(Bloomberg) — President Joe Biden’s plans for a new era of tough Wall Street oversight will take center stage this week when two of his top regulator picks face questions from Senate Banking Committee members at a Tuesday hearing. Gary Gensler, whom the White ...Read More

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The Securities and Exchange Commission Isn’t Screwing Around

Jack J. Kelly SEC, Securities and Exchange Commission, Trading March 1, 2021

The Securities and Exchange Commission isn’t screwing around now. Maybe it’s because Senator Elizabeth Warren has lit a fire underneath them or the relentless news of allegations of social-media-hyped “meme stonks” and penny stocks parabolically rising then crashing in questionable pump-and-dump, market manipulation ...Read More

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Robinhood Expects To Pay $26.6 Million FINRA Fine

Jack J. Kelly FINRA, Regulation, Robinhood March 1, 2021

In brief Robinhood is dealing with multiple regulatory probes and expecting to pay a financial regulator a minimum of $26.6 million in a potential settlement. It’s not all gloom and doom for the company, which is preparing to go public—Robinhood is valued at $20 ...Read More

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