Chicago Pension President Decries Board’s Culture of Racism, Sexism
Jeffery Blackwell says he has ‘been on the receiving end of sabotage, intimidation, and racist comments’ from colleagues.
Regulation
Ex-Trader Gets More Than 5 Years in Prison for Ponzi Scheme
Paul Rinfret pleaded guilty to defrauding investors of more than $19 million
SEC, SDNY Charge Seismic Data Firm in $100 Million Accounting Fraud
Former SAExploration CEO faces up to 65 years in prison in connection with alleged scheme.
Justice Department Launches Cryptocurrency Enforcement Framework
The guide provides an overview of the threats faced by the illicit use of cryptocurrencies and ways to combat them.
McAfee Charged with Fraudulently Touting ICOs, Arrested for Tax Evasion
Creator of anti-virus software allegedly secretly received over $23 million for promoting initial coin offerings.
SEC Charges Biotech Head with Using Pandemic to Defraud Investors
Arrayit's president said to lie about firm having COVID-19 blood test.
PBGC to Allow Greater Flexibility for Variable-Rate Premium Filings
Agency said move was needed because CARES Act didn’t provide special rules for PBGC premiums.
Investment Firm Head Sentenced to More Than 7 Years in Prison for Pre-IPO Fraud
Fred Elm falsely told investors they could invest in Twitter, Alibaba, and Uber prior to their IPOs.
JPMorgan Chase to Pay Nearly $1 Billion to Settle Trade Manipulation Charges
Bank avoids criminal charges by agreeing to record $920.2 million CFTC fine and a $35 million SEC fine.
IRS, Treasury Soften Blow of Endowment Tax
NACUBO welcomes rule changes but still opposes tax, which it says diminishes resources for students.
Florida Pension Sues Intel Over 7-Nanometer Chip Delay
Lawsuit alleges the chipmaker intentionally misled investors about development progress of new product.
SEC Rule Change a Boon to Family Offices
New accredited investor definition will include family offices with at least $5 million in assets.
SEC Hikes Investment Commitments for Shareholders Submitting Proposals
The Council of Institutional Investors says the change jeopardizes faith in the fairness of US public capital markets.
Witnesses at UK Parliament Hearing Say Pension Scammers Have the Upper Hand
Regulators have struggled to keep up with the crooks since pension freedoms were enacted.
Hollywood Runs Afoul of the SEC
Financial regulator settles charges with movie financier, producer, and actor/rapper in two separate cases.