How Prediction Markets and Crypto Firms Steamrolled a Watchdog Agency – The New York Times
Over the last 16 months of the Trump administration, the securities watchdog dramatically reduced its workforce, dismissed many career officials, and sharply scaled back crypto enforcement. At the same time, the agency consistently favored prediction‑market operators, granting them regulatory leeway. The changes coincide with the Trump family’s direct financial stakes in digital currencies and partnerships with prediction‑market firms, raising questions about conflicts of interest. The New York Times report suggests the regulator’s pivot has reshaped oversight of emerging finance sectors.
The Mysterious Crypto Judges Who Settle Polymarket Disputes – WSJ
Polymarket outsources dispute resolution to UMA, a third‑party protocol where token‑holding voters decide payout outcomes. Each voter’s influence scales with the amount of UMA tokens they own, and most participants remain anonymous. The platform’s terms explicitly state it bears no...
Exxon Mobil Not Liable to Investors over Canadian Oil Sands, Gas Assets, Jury Says | Reuters
A Texas jury found Exxon Mobil not liable for claims that it defrauded investors by concealing material information about its Canadian oil‑sands and Rocky Mountain gas operations. The investors alleged the company hid losses, omitted carbon‑cost assumptions in reserve valuations,...
The SEC V. Musk Fiasco and the Judge Who Said No
The SEC’s settlement with Elon Musk’s companies features a waived $150 million disgorgement demand, a phantom trust as the sole defendant, and a behind‑the‑scenes negotiation that sidestepped government lawyers. Federal Judge Sparkle Sooknanan reviewed the agreement and refused to simply rubber‑stamp...
SEC Moves Toward Rescinding “No-Deny” Settlement Policy — Anderson Insights
The SEC is moving to rescind its long‑standing “no‑deny” settlement policy, which currently bars defendants from publicly disputing allegations after a settlement. Commissioner Hester Peirce has criticized the rule as a gag‑order, while former Chair Gary Gensler defends it as essential for...
‘Shot Across the Bow’: Insider Trading Scheme May Prompt Changes in Big Law | Law.com
A federal indictment has uncovered a sophisticated insider‑trading scheme that spanned six of the nation’s largest law firms, leveraging confidential merger‑and‑acquisition information. The conspiracy, orchestrated by a Yale Law School graduate, involved multiple defendants and allegedly ran for years, prompting...
SEC Audit Oversight Push Renews Questions for Enron-Era Watchdog
The U.S. Securities and Exchange Commission announced plans to create a specialized unit staffed with additional auditors to hunt down audit lapses, a move framed as a response to “fundamental” failures in financial reporting. The initiative revives debate over the...
Rep. Ashley Hinson Pushes Prediction Market Ban for US House Members, Staff – Bloomberg
Republican Representative Ashley Hinson introduced a resolution to amend House rules, prohibiting members and staff from trading on prediction markets. The measure mirrors a Senate rule passed by unanimous consent last week, which also bars senators and their staff from...
Insider Trading Case Exposes Gaps in Law Firm Security | Reuters
A recent insider‑trading prosecution has revealed that law firms’ internal data controls are still vulnerable, despite heavy investment in cyber defenses. The case shows that a partner’s access to confidential client files can be leveraged for illicit market activity. Firms...
Is $WLFI an Unregistered Security? – The FinReg Blog
The SEC settled its three‑year case against Tron founder Justin Sun for $10 million, dismissing remaining charges while still asserting that TRX and BTT were securities under the Howey test. The settlement shows the regulator can apply traditional securities law to...
U.S. Audit Watchdog Should Rescind Its Independence Rules, SEC Official Says – WSJ
U.S. audit regulator SEC chief accountant Kurt Hohl said the Public Company Accounting Oversight Board’s (PCAOB) independence rules should be rescinded and replaced with SEC guidance. The SEC plans to issue informal, nonbinding guidance this year, then consider formal rule...
Insider Trading
A former M&A partner was sentenced to prison for an insider‑trading scheme that netted him only about $20,000. The case highlights that even modest illicit gains can trigger severe penalties for lawyers privy to confidential deal information. Industry insiders debate...
Big Law’s Alleged M&A Insider Traders Switched Firms With Ease
U.S. prosecutors have indicted three M&A lawyers for allegedly exploiting confidential client information to trade securities, revealing a pattern of employment at seven major law firms over a decade. One defendant, Nicolo Nourafchan, cycled through Sidley Austin, Latham & Watkins and Goodwin Procter between 2013...
The Next Big Insider-Trading Case Won’t Look Anything Like This | Semafor
Federal prosecutors have charged 30 elite lawyers and their associates with a decade‑long insider‑trading scheme that exploited confidential merger information. The indictment highlights traditional tactics such as options trades through Caribbean brokers, but the article warns that future violations will...
Trump Pardon Recipients Face Congressional Investigation over “Pay-to-Play” Questions – CBS News
Democratic leaders in the House and Senate have opened an inquiry into whether President Donald Trump’s pardons and commutations were exchanged for financial or political favors. The probe focuses on high‑profile recipients such as crypto billionaire Changpeng Zhao, nursing‑home operator...