Sen. Gillibrand: No Crypto Bill without Ethics Provision Amid President Trump’s Ties Through Memecoins, World Liberty | The Block
Senator Kirsten Gillibrand told the Consensus Miami conference that any sweeping cryptocurrency market‑structure bill must contain a robust ethics provision before it can advance. She highlighted growing Democratic concerns about President Donald Trump and his family’s crypto activities, including memecoins launched around the inauguration and the DeFi venture World Liberty Financial. Bloomberg estimates the Trumps have generated roughly $1.4 billion from these projects, raising national‑security and foreign‑influence questions tied to a UAE‑linked investment. Gillibrand warned that without ethics safeguards, the legislation will not receive a vote.
Wall Street Went to War with Crypto. It’s Losing. – POLITICO
Wall Street’s long‑standing lobbying dominance is being challenged as cryptocurrency firms pour hundreds of millions into Washington. A bipartisan Senate proposal aims to resolve the clash between banks and crypto companies, clearing the path for a landmark crypto bill. The...
Insider Trading Anxiety Muddles SEC’s Semiannual Reporting Push
The SEC has issued a May 5 proposal allowing public companies to file earnings and material events only twice a year instead of quarterly. While the rule aims to give issuers flexibility, the agency warns that less frequent disclosures could heighten...
The Supreme Court Could Defang the SEC’s Most Powerful Remedy
The U.S. Supreme Court will hear Sripetch v. SEC on April 20, focusing on whether the SEC must prove investor pecuniary harm before courts can award disgorgement. Disgorgement, the agency’s most potent monetary remedy, forces violators to surrender illicit profits,...
SEC Decries Biden-Era ‘Rush’ as Enforcement Numbers Fall | Law.com
The SEC’s 2025 enforcement report shows a sharp decline in actions, prompting criticism from watchdog Better Markets. President Dennis Kelleher called the record a “pathetic and indefensible dereliction of duty,” accusing the commission of abandoning its investor‑protection role. The agency...
Arnold & Porter Welcomes White Collar Partner Eric Snyder in New York | News | Arnold & Porter
Arnold & Porter announced that Eric Snyder has joined its White Collar Defense & Investigations practice as a partner, based in New York. Snyder brings a track record of representing corporations and individuals in complex regulatory and criminal matters. The...
The SEC’s New SOX Squad: Five Takeaways for Auditors and Public Companies – Intelligize
The SEC has launched a new enforcement unit, the SOX group, dedicated to policing auditor misconduct. The move arrives amid a broader scaling back of the agency’s enforcement activities, including fewer cases, lower penalties, and reduced staffing. By singling out...
The White-Collar Defence Lawyers with Nothing to Do
At a recent conference for America’s white‑collar defence bar, lawyers joked about having little work, reflecting a sharp slowdown in fraud and securities cases. The lull stems from the Trump administration’s de‑escalation of traditional white‑collar enforcement, leaving many firms with...
Crypto Bill Languishes in Senate, Leaving Tiny CFTC in Limbo
The Senate has stalled the crypto market‑structure bill, leaving the Commodity Futures Trading Commission (CFTC) with limited authority to oversee digital commodities. The agency has shed more than 20% of its workforce, dropping below 550 employees, and is only posting...
US Will Punish Fraud and Insider Trading, Derivatives Regulator Tells Congress
CFTC Chair Michael Selig testified before the House Agriculture Committee, assuring lawmakers that the agency will aggressively pursue fraud, manipulation and insider trading in derivatives markets. His remarks follow media reports that the CFTC is probing oil futures trades placed...
Trump Plan Lowers SEC Exam Funding, Pitches CFTC Fee Offsets
President Trump's FY2027 budget proposal trims the SEC’s examination budget while modestly increasing enforcement funding. The examination allocation drops by $3 million, bringing the total SEC budget to $2.08 billion, down from $2.2 billion spent last year. Enforcement spending is projected to rise...
SEC Charges Former Executive and His Friend with Insider Trading
The SEC has filed civil charges against Michael A. Smith, former President and COO of PetIQ, and his associate Douglas Joshua Dalton for insider trading ahead of the August 7, 2024 announcement that Bansk Group LP would acquire PetIQ. Smith...
Trump Wants the SEC to Relax Quarterly Reporting. Wall Street Could Be a Problem. – POLITICO
President Trump is urging the SEC, led by Chair Gary Atkins, to relax the mandatory quarterly reporting requirement for public companies. Business leaders argue that the current cadence forces a short‑term profit focus and generates costly legal compliance burdens. The SEC...
Musk-Targeted Judge Uses Scrabble Tiles to Reassign Two Cases
Delaware Chancery Court chief judge Kathaleen St. Jude McCormick, accused of bias by Elon Musk and Tesla attorneys, used a board‑game method to reassign two pending cases. Lawyers blindly selected Scrabble tiles from a bag, each tile representing one of...
Kentucky Set to Tax Event Prediction Markets in First for States
Kentucky is poised to become the first U.S. state to levy a tax on event‑prediction markets such as Kalshi and Polymarket. The measure is embedded in HB 757, an omnibus tax bill that cleared the Republican‑controlled General Assembly and now awaits...
It’s Time for a Prediction Markets MNPI Policy | Debevoise & Plimpton LLP
Debeoise & Plimpton urges firms to extend material non‑public information (MNPI) policies beyond traditional securities to include prediction‑market contracts. Current insider‑trading rules often omit these platforms, leaving a compliance blind spot. The firm recommends revising firm‑wide codes of conduct to prohibit...
Legal Quants on Wall St: Why I Have 50 Attorneys From Top Firms Writing Code in the World Trade Center...
Norm has assembled 50 attorneys from elite firms to write code for its AI-driven legal platform, branding them as "Legal Engineers." These lawyers, many with no prior programming experience, undergo a rigorous certification to embed deep legal expertise into AI...
Reading Between the Lines: The New SEC SOX Enforcement Group | Foley & Lardner
The SEC has launched a new Sarbanes‑Oxley (SOX) Enforcement Group, marking a rare expansion of its enforcement staff after a year of reductions. The move underscores Chairman Gary Gensler’s focus on financial and accounting fraud as a top priority. Analysts...
FINRA’s Constitutional Wake-Up Call | LinkedIn
Federal courts this week dismissed two long‑standing FINRA and SEC doctrines, ruling that FINRA enforcement participants must not endure the full internal disciplinary process and SEC appeals before seeking judicial relief on constitutional grounds. The decisions also questioned FINRA's authority...
Prediction Market Prosecutions May Be Curbed by Decades-Old Case
Federal prosecutors are signaling a crackdown on insider trading in prediction markets, but applying the Commodity Exchange Act presents factual and legal complexities not seen in traditional markets. To sidestep these hurdles, authorities may pursue wire‑fraud charges anchored in violations...
Insider-Trading Scheme Born of Romance Snags Another Broker – Bloomberg
A second former Spartan Capital Securities broker, Ronald Smith, was indicted on securities fraud and conspiracy charges after allegedly profiting by hundreds of thousands of dollars from insider tips. The tips originated from Jordan Meadow, another ex‑Spartan broker who stole...
From Foe to Ally: The S.E.C. Is Now Writing Crypto-Friendly Policies – The New York Times
The U.S. Securities and Exchange Commission (SEC) has pivoted from a skeptical stance to actively drafting crypto‑friendly policies, with senior officials like Gary Gensler’s deputy, Mr. Atkins, and CFTC’s Mike Selig touring industry events nationwide. Their appearances in venues from...
White House Insiders Put on Notice as Federal Prosecutors Look Into Insider Trading – Raw Story
The U.S. Attorney’s Office for the Southern District of New York’s securities and commodities fraud unit met with Polymarket to discuss how existing laws might apply to a possible insider‑trading case. The probe focuses on lucrative trades that occurred around...
SEC Shakeup Renews Dispute Over Wall Street, Crypto Enforcement
The Securities and Exchange Commission’s enforcement chief abruptly resigned, sparking speculation over his successor amid a backdrop of historically low enforcement activity. Recent data show SEC actions against public companies and recoveries from fraud are at their weakest levels in...
Mississippi Man Pleads Guilty To Insider Trading | DOJ
Gerard Ryan, a Mississippi resident, pleaded guilty in Manhattan federal court to insider trading using confidential drug‑approval information obtained from a family member employed at a pharmaceutical firm. The scheme involved Ryan and an associate executing thousands of illegal trades...
Agency Judges’ Job Protections Take Hit in Boost for Trump Power
The Merit Systems Protection Board issued a ruling that allows the Trump administration to dismiss non‑partisan administrative judges without cause or prior warning. The decision argues that civil‑service protections impede the president’s Article II authority to oversee agencies that shape policy....
SEC Targets Auditing ‘Bad Actors’ With New Enforcement Team
The U.S. Securities and Exchange Commission announced a new enforcement unit, dubbed the “SOX Group,” to pursue misconduct among auditors. The move follows a recent budget reduction for the independent board that traditionally monitors audit quality. A federal job posting...
Bankman-Fried’s Mom Told to Not Call Court on Son’s Behalf
Sam Bankman‑Fried’s mother, former Stanford law professor Barbara Fried, attempted to intervene in his post‑conviction proceedings by contacting the court for additional time to file papers. U.S. District Judge Lewis Kaplan rejected her request, stating she lacks legal standing despite...
Trump Lawyer Rebuked at ABA for Saying DOJ in a ‘Better Place’
At an American Bar Association white‑collar conference in San Diego, Trump defense attorney John Lauro sparked a heated exchange by claiming the Justice Department is "in a better place" than a year ago. His remarks were met with sharp rebukes from...
SEC Announces Dismissal of Civil Enforcement Action Against Nader Al-Naji and Relief Defendants
The U.S. Securities and Exchange Commission filed a joint stipulation to dismiss, with prejudice, its civil enforcement action against Nader Al‑Naji and several affiliated entities, including Intangible Holdings, Firestorm Media, Viridian City, and the DeSo Foundation. The dismissal is case‑specific...
SEC Seeks to Transfer $24 Million Bittrex Settlement to Treasury
The U.S. Securities and Exchange Commission is seeking court approval to move the $24 million it collected from a 2023 settlement with the now‑defunct crypto exchange Bittrex to the Treasury. The settlement arose after the SEC alleged Bittrex operated without registering...
Walmart Names Erin Nealy Cox as New CLO – The Texas Lawbook
Retail giant Walmart has named former Dallas prosecutor Erin Nealy Cox as its chief legal officer, effective April 13, 2026. Cox, who has served as a partner at Kirkland & Ellis in Dallas since 2021, brings extensive litigation and regulatory...
Do Your Insider Trading Policies Cover The Prediction Markets? Should They? | Regulatory & Compliance
Prediction markets now let participants wager on public‑company events such as stock price moves, earnings‑call language, regulatory outcomes, and management decisions. Although these contracts are structured as event‑based instruments rather than traditional securities, they still rely on the same underlying...
Lever the Predictions – Bloomberg
Bloomberg’s opinion piece highlights the growing use of prediction markets like Polymarket for real‑time geopolitical risk assessment, noting that users in the Middle East consult the platform to decide whether to seek shelter. The article underscores how these markets now...
Exxon Planned Texas Move Shows Delaware No Longer Corporate King
Exxon Mobil announced a proposal to reincorporate in Texas, leveraging the state’s recent overhaul of corporate statutes. The move marks a strategic shift away from Delaware, long considered the default jurisdiction for U.S. public companies. Unlike Tesla or Zynga, Exxon’s...
Legal Battle Intensifies over £3bn Bitcoin Haul Seized by British Police
London police seized roughly 61,000 bitcoin, now worth about £3.2 billion, after a fraud case involving Zhimin Qian that victimised over 128,000 Chinese investors. The haul represents the largest confirmed cryptocurrency seizure by law enforcement worldwide. Victims are challenging the Treasury’s...
US Solar Firm’s Lawyer Sentenced to 11-Year Prison Term for Ponzi Scheme Role | Reuters
Federal judge in Sacramento sentenced Ari Lauer, the outside counsel for DC Solar, to more than 11 years in prison for his role in a $912 million Ponzi scheme. Lauer pleaded guilty to 23 counts, including bank and wire fraud, just...
McGuireWoods Adds Former SEC Regional Director and Leading Accountant & Auditor Defense Lawyer in L.A. – McGuireWoods
McGuireWoods announced the addition of Gary Leung, former SEC Los Angeles regional director, and Jodi Lopez, a nationally recognized accountant and auditor defense lawyer, as partners in its Los Angeles office. The hires expand the firm’s securities enforcement and regulatory counseling capabilities....
Polymarket Enlists Palantir, TWG AI to Monitor Sports Bets – Bloomberg
Polymarket is partnering with Palantir Technologies and TWG AI to monitor its sports‑betting contracts for suspicious activity. The firms will screen participants against banned‑list databases and flag potential insider‑trading violations. This monitoring system will be deployed on a new U.S.-regulated...
Is Anti-ESG Illegal?
The Bloomberg opinion piece highlights a growing legal paradox around environmental, social, and governance (ESG) investing, where opposing lawsuits arise depending on how ESG is interpreted. In Texas, plaintiffs sued American Airlines for allegedly pursuing ESG goals, while in Seattle...
Paul Hastings Hires Securities Litigation Co-Chair, Partner From A&O Shearman | Law.com
Paul Hastings announced the addition of securities litigation partners Daniel Laguardia and Patrick Hein from A&O Shearman in San Francisco. Laguardia, previously co‑head of securities and shareholder litigation and managing partner of A&O Shearman’s California offices, will serve as co‑chair...
Did SCOTUS Just Strip FINRA’s Regulatory Immunity? | LinkedIn
The U.S. Supreme Court in a recent decision appears to have removed the long‑standing claim of regulatory immunity that the Financial Industry Regulatory Authority (FINRA) and other self‑regulatory organizations have relied on. The ruling, issued in a case unrelated to...
SEC Senior Trial Attorney Emmett Murphy Rejoins King & Spalding in New York – King & Spalding
J. Emmett Murphy has rejoined King & Spalding as a partner in its Business Litigation practice in New York. He returns from the SEC, where he served as a senior trial attorney in the Division of Enforcement since 2023. Murphy’s...
SEC, CFTC Weigh Move to Same Washington Building Complex Near Capitol – Bloomberg
Wall Street’s two primary regulators, the SEC and the CFTC, are evaluating a joint move into a single building complex near the U.S. Capitol, adjacent to Union Station where the SEC currently resides. The proposal does not involve merging the...
SEC Enforcement Division Revises Its Playbook: What the Updated Manual Signals About Enforcement Practices and Defense Strategy
The SEC Enforcement Division has updated its manual to require two‑level, director‑level approval before a Wells notice can be issued. This formalizes a practice that previously existed informally, potentially creating a bureaucratic bottleneck that slows investigations toward charging decisions. The...
MrBeast Video Editor Fired From Beast Industries Following Kalshi Insider Trading Probe – Decrypt
Beast Industries, the media arm behind YouTube star MrBeast, terminated video editor Artem Kaptur after an internal probe linked him to insider trading on the prediction‑market platform Kalshi. Kalshi’s surveillance flagged Kaptur’s near‑perfect trades on low‑odds contracts that corresponded with...
Jeffrey Steinfeld Joins White & Case as a Partner in Los Angeles | White & Case LLP
White & Case LLP has bolstered its Global Litigation Practice by adding Jeffrey Steinfeld as a partner in Los Angeles. Steinfeld is a first‑chair trial and appellate lawyer renowned for securities litigation, corporate governance, and white‑collar defense. He has led...
Chaotic Prediction Markets, Like Gambling, Need Reining In – Bloomberg
Bloomberg argues that U.S. prediction markets operate without a clear federal framework, exposing traders to manipulation similar to unregulated gambling. It calls on Congress to amend the 1936 Commodity Exchange Act to define event contracts, separating legitimate market-driven bets from...
Donald Trump’s Crypto Legacy in Two Words: Paul Atkins
The Trump administration, led by Treasury officials Paul Atkins and Selig, is drafting the first U.S. crypto framework that explicitly addresses decentralized finance. The proposed rules would let major exchanges such as Kraken, Coinbase and Crypto.com register with a federal...
Bradley Adds Scott F. Mascianica and Andrew Bastnagel to Government Enforcement & Investigations Practice Group | Insights & Events |...
Bradley Law is expanding its Government Enforcement & Investigations practice by hiring partner Scott F. Mascianica in Dallas and counsel Andrew Bastnagel in Washington, D.C. Both attorneys come from Hilgers PLLC, where Mascianica led the firm’s enforcement practice. The hires...