Hundreds of small and regional banks across the U.S. are feeling stressed. “You could see some banks either fail or at least, you know, dip below their minimum capital requirements,” Christopher Wolfe, managing director and head of North American banks at Fitch Ratings, told CNBC. Consulting firm Klaros Group analyzed about 4,000 U.S. banks and … Read more
The Supreme Court on Monday declined to hear Elon Musk’s challenge to a 2018 settlement agreement with the Securities and Exchange Commission (SEC) that required lawyers to approve some of the billionaire’s public posts about Tesla. The Tesla CEO filed an appeal with the Supreme Court in December, arguing that the agreement is a … Read more
Devin Nunes, chief executive officer of Truth Social, speaks during the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, US, on Thursday, March 2, 2023. Al Drago | Bloomberg | Getty Images Citadel Securities ripped Trump Media CEO Devin Nunes on Friday for a letter he sent to the Nasdaq that mentioned Citadel Securities … Read more
The Securities and Exchange Commission (SEC) accused Elon Musk on Wednesday of distorting the scope of its investigation into his 2022 purchase of Twitter as the agency attempts to force him to sit for a deposition. “Musk continues to distort the true scope of this investigation — his only hope for establishing that the SEC … Read more
The price of a single bitcoin hit an all-time high Tuesday, topping $68,800 for the first time since November 2021 and extending a rally fueled by a cash infusion following the approval of exchange-traded funds that hold the cryptocurrency. The Securities and Exchange Commission (SEC) approved the first U.S. spot exchange-traded funds in January, lending … Read more
The Securities and Exchange Commission (SEC) has approved a merger between former President Trump’s media startup and the blank-check company attempting to take his platform Truth Social public. Digital World Acquisition Corp. (DWAC) said Wednesday that the agency declared the registration statement for its merger with Trump Media & Technology Group (TMTG) to be effective. … Read more
Sen. Ron Wyden (D-Ore.) is calling on federal regulators to scrutinize a location data broker amid its bankruptcy proceedings, saying he’s concerned over its ownership of data showing people visiting sensitive places like reproductive health clinics. Wyden addressed the FTC and the SEC in a letter on Tuesday as part of his ongoing investigation into … Read more
A federal judge ruled that Elon Musk must testify in the Security and Exchange Commission’s (SEC) investigation into his purchase of Twitter, now X, following through on a threat made in December. Magistrate Judge Laurel Beeler ordered late Saturday that Musk and the SEC must agree to a time and place to conduct a deposition … Read more
Several Republican senators slammed the Securities and Exchange Commission (SEC) on Wednesday over its “deeply troubling” conduct in a recent case against the cryptocurrency company DEBT Box. The SEC brought the case against DEBT Box in July, accusing the company of “an ongoing, sprawling, fraudulent securities offering” that defrauded investors of at least $49 million. … Read more
WASHINGTON — A forthcoming rule from the Securities and Exchange Commission on the use of AI in finance is in the crosshairs of two Republican senators, who introduced a bill Tuesday to kill the regulation before it can be finalized. The draft rule unveiled last July would require financial firms to identify and eliminate conflicts … Read more
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