Operating at the Intersection of Technology and the Capital Markets
Tag: Securities and Exchange Commission
It was only a matter of time before the SEC went after Coinbase (COIN) and Binance (private). The largest dark pool and exchange operators aren't content to live with the economic leakage posed by the crypto exchanges. Once Coinbase and Binance are crushed, the next move will be to regulate Bitcoin into oblivion. My guess … Continue reading First The Crypto Exchanges. Next Up, Crypto.
The WSJ reports that the Justice Department and the SEC will pursue insider trading activity that is disguised by 10b5-1 plans. It's about time. We wrote about Moderna (MRNA), on July 28th 2020 whereby 10b5-1 plans were amended ahead of selling activity HERE. This looks suspicious. We went into great detail. I recall companies amending … Continue reading Insider-Trading Through 10b5-1 Plans
The SEC estimates that climate disclosures will cost small cap companies approximately $420,000 per year on average and $530,000 for larger public companies. The winners will be law firms, accounting firms and the SEC at the expense of companies. It is logical that this type of punitive legislation and time-consuming disclosure will push out IPO … Continue reading The Next Government Regulation to Hit Earnings
We would prefer that the SEC focus on cracking down on fraud in its various permutations as opposed to forcing companies to report on carbon emissions and the like. This forced climate reporting initiative by the Biden Administration not only adds zero value to the investment decision-making process for serious institutional investors, it acts as … Continue reading Climate Reporting: The SEC’s Latest Make Work
This is a win for investors and could potentially be a "Big" win if new 10b5-1 regulations are tough. Too frequently CEOs and named executives skirt around insider trading rules by way of 10b5-1 plans - especially the modification of existing 10b5-1 plans. Last year we called out Moderna (MRNA) CEO Stéphane Bancel for this … Continue reading The SEC Plans to Further Regulate 10b5-1 Plans
Instagram is on to APIs. Biden's budget implies stagflation. EV poster child Elon Musk will benefit from Biden's spending plan beginning in 2023. Ransomware attacks continue to expose the fragility of our legacy technology systems. Last month we wrote about API strategy. Instagram (tkr: FB), recently opened its platform via APIs to enable Instagram messages … Continue reading Instagram, Stagflation, EVs and More Cyberattacks
The SEC Needs To Step Up Its Enforcement Game. Political Pressure Is Focused Elsewhere. Private, decentralized messaging platforms where user IDs are not tied to real world identities make it possible for public company executives to discretely disclose non-public information with select investors. Discord is one such example. It will be interesting to observe the … Continue reading Technology Is Running Circles Around Financial Regulators
The Committee on Banking, Housing and Urban Affairs is holding its confirmation hearing for Gary Gensler as SEC Chairman (link HERE). Gensler will need to demonstrate that he will be tough on individuals and companies that violate capital market integrity. We are confident that Mr. Gensler understands the relevant questions to ask (even if Senator … Continue reading We Are Taking A “Show Me” Approach To Gary Gensler As SEC Chairman
On February 18th the House Financial Services Committee will hold a virtual hearing related to the GameStop (GME) fiasco. "Accountability" in a word is how the SEC may act to restore integrity to the capital markets. Jail time for scammers: Should you decide it is a good idea to execute a pump and dump scheme … Continue reading How To Restore Integrity To The Capital Markets
The retail trading crowd views Elon Musk as a populist hero. The reality is Musk is a carnival barker and borderline fraudster in the vein of WeWork founder Adam Neumann. Mr. Musk got off easy under lax former SEC Chairman Jay Clayton. Recall in August 2018 when Musk posted on Twitter that he had secured … Continue reading Elon Musk Is A Carnival Barker At Best, A Criminal At Worst
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