The Securities and Exchange Commission (SEC) has changed the former CFO of African Gold Acquisition Corp., a special purpose acquisition company (SPAC), for misappropriating at least $5 million from the company and investors in two other SPACs that he had incorporated.
Coinbase Global Inc., has agreed to a $100 million settlement with New York Regulators over allegations that the cryptocurrency exchange permitted customers to open accounts without conducting adequate background checks.
The Financial Industry Regulatory Authority (FINRA) has proposed rule changes to “enhance the transparency of the arbitrator selection” and other alterations aimed to improving its dispute resolution services.
The Financial Industry Regulatory Authority (FINRA) has imposed a fine on Center Street Securities after the financial advisory firm improperly sold GPB private placements.
Morgan Stanley has agreed to pay $802,000 in restitution to clients after a Financial Industry Regulatory Authority (FINRA) investigation found that the firm’s supervisory system had shortchanged some clients on mutual fund fee rebates between 2015 and 2021.
Law firms are investigating potential claims against Silvergate Capital on behalf of FTX customers who wired fiat currency to Alameda Research.
The Financial Industry Regulatory Authority (FINRA) has agreed to a $418,000 settlement with Coastal Equities over sales in 2018 of GPB private placements.
A group representing nearly 27,000 retail investors is set to file suit against GWG Holdings’ executives as well as the financial advisory firms that marketed and sold $1.6 billion worth of GWG L bonds, according to a recent bankruptcy court filing in Houston.
GWG Holdings has obtained a super-priority secured debtor-in possession loan and guaranty agreement to receive money to fund the company’s operations amidst bankruptcy proceedings, according to a filing with the Securities and Exchange Commission (SEC).
The Financial Industry Regulatory Authority (FINRA) has amended its proposal to permit financial advisory firms to conduct their internal inspections remotely beyond year-end 2023 to satisfy state regulators and investor advocates.
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The crypto market’s recent downturn erased nearly $20 billion in leveraged positions within hours and half a trillion dollars in market value over a single weekend.
UBS Group AG has begun liquidating two invoice finance funds with direct exposure to First Brands Group, marking one of the earliest moves by a major financial institution to contain the fallout from the bankrupt auto-parts supplier’s collapse, as reported by Bloomberg Law.
Federal prosecutors have intensified scrutiny of the long-running collapse of GWG Holdings Inc., unveiling criminal charges against Bradley Heppner, the former chair of both GWG and Beneficient.
