[ad_1] Following a fraud accusation by a short firm and potential probe by the US Securities Exchange Commission (SEC), Nikola founder Trevor Milton is stepping down as executive chairman. “Nikola is truly in my blood and always will be, and the focus should be on the Company and its world-changing mission, not me,” Milton said […]
Category: Sec
Telegram to pay $18.5 million and return $1.2 billion following SEC crypto charges
[ad_1] Come the middle of October, however, the SEC had intervened, obtaining a temporary restraining order against the company. The agency said Telegram didn’t register the offering with its office, and since it sees Grams as securities, it accused the company of violating the Securities Act of 1933. Then, in March, the US District Court […]
SEC charges IT administrator over $7 million insider trading ring
[ad_1] Palo Alto terminated Nellore earlier in 2019, and he was apparently bent on fleeing. He booked a one-way flight to India shortly after the FBI interviewed him in May, and he was arrested at the airport. All of the group faces fraud charges from the SEC, while Nellore and one of his friends, Sivannarayana […]
Ericsson will pay over $1 billion to settle US corruption charges
[ad_1] The settlement leaves Ericsson largely free of criminal convictions that could have led to sanctions and other stiff penalties, although its Egyptian branch pleaded guilty to violating the FCPA. It’s paying about $520.6 million to the DOJ, while the remaining $539.9 million goes to the SEC. For contrast, companies like HP have paid ‘just’ […]
US says digital assets are covered by money laundering and disclosure laws
[ad_1] US regulators issued a blunt warning to cryptocurrency holders who think they're not beholden to the usual rules. The Securities and Exchange Commission, the Commodity Futures Trading Commission and the Financial Crimes Enforcement Network have put… [ad_2] Source link
SEC puts a stop to Telegram’s cryptocurrency plans in the US
[ad_1] The agency says Telegram didn’t register the offering with its office, and since it sees Grams as securities, it’s accusing the company of violating the Securities Act of 1933. It’s not clear how this restraining order would affect Gram’s launch as a whole. Former SEC attorney Zachary Fallon told Bloomberg that it could also […]
SEC fines Block.one $24 million for unregistered ICO worth billions
[ad_1] Block.one has agreed to pay the fine, but has neither admitted nor denied the SEC’s findings. The company has also been granted a waiver which means it won’t be subject to any ongoing restrictions that would usually apply to a settlement of this kind. It’s not the first such penalty to be levied by […]
Internet metrics giant settles charges it faked its own numbers
[ad_1] The deal has Comscore and Matta pay respective penalties of $5 million and $700,000, while Matta will also pay another $2.1 million to reflect profits he made from selling company stock and other compensation. The executive is also banned from serving as the director or officer of a public company for the next 10 […]
Microsoft will pay $25 million to settle Hungary bribery charges
[ad_1] The SEC also determined that Microsoft’s Saudi Arabian and Thai subsidiaries offered “improper travel and gifts” (read: more bribes) to officials and staff at non-government customers. The Turkish unit provided an “excessive discount” to a third party without any signs of services being offered, although US regulators stopped short of alleging bribery. In a […]
SEC approves a stock exchange built for tech startups
[ad_1] The green light required revisions before the LTE could receive the SEC’s blessing. Companies on the LTSE will be allowed to list stock on other exchanges. A number of companies have signaled their intent to list on the exchange when it goes live, although LTSE creator Eric Ries has declined to name them. If […]