securities and exchange commission (SEC) News

Amsterdam’s Phillips to Pay $62M to U.S. for China Sales Misconduct

The U.S. Securities and Exchange Commission reported that Amsterdam-based health technology firm Koninklijke Philips N.V. will pay more than $62 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) with respect to its sales of medical …

SEC Issues Largest Ever Whistleblower Award of $279M

The U.S. Securities and Exchange Commission (SEC) has issued its largest ever award of nearly $279 million to a whistleblower whose information helped the regulator’s enforcement action, it said on Friday. The regulator did not disclose the case concerned in …

Coinbase Files Legal Challenge to Push SEC to Write Rules on Crypto

Coinbase Global Inc filed a petition on Monday in an effort to compel the U.S. Securities and Exchange Commission to create new rules for digital assets, the company said in a blog post, in the latest escalation of the cryptocurrency …

Tech Firms Try to Muzzle Workers With NDAs, SEC Tipsters Say

Some top US technology companies are forcing workers to sign allegedly illegal labor agreements, according to complaints filed with the Securities and Exchange Commission, despite years of enforcement by the agency against the practice. Firms, including an Apple Inc. subcontractor, …

SEC Sees Decentralized Crypto Platforms as Exchanges, Seeks Public Input

The U.S. Securities and Exchange Commission met on Friday to open public comment again on its proposal to expand the definition of an “exchange,” clarifying that its existing rules on exchanges also apply to decentralized cryptocurrency platforms. The SEC voted …

Coinbase, SEC on Collision Course for ‘Existential’ Clash Over Crypto Industry

Coinbase debuted on the U.S. stock market on April 14, 2021 – the same day U.S. senators confirmed Gary Gensler to lead the Securities and Exchange Commission (SEC), the country’s top markets regulator. Gensler, who has called the crypto sector …

Lindsay Lohan, Other Celebs Settle With SEC Over Crypto Case

Actress Lindsay Lohan, rapper Akon and several other celebrities have agreed to pay tens of thousands of dollars to settle claims they promoted crypto investments to their millions of social media followers without disclosing they were being paid to do …

Trade Group Argues SEC Case Unfairly Labels Crypto as Securities

Cryptocurrency trade association Chamber of Digital Commerce is urging a federal court to dismiss a case brought by the U.S. securities regulator against ex-Coinbase employees accused of insider trading, arguing that the case unfairly labeled several crypto assets as securities. …

Stablecoin Regulatory Crackdown Sends Warning to Industry

The U.S. Security and Exchange Commission’s warning shot on Binance’s stablecoin over whether or not it is a security could offer a hint at what type of dollar-pegged tokens may draw regulatory scrutiny, critical information for other digital asset firms …

Former Wilmington Trust Executive Reaches Civil Suit Deal With SEC Over 2008 Crisis

A former executive of the only financial institution to be criminally charged in connection with the federal bank bailout program in the wake of the 2008 financial crisis has reached a settlement with federal securities regulators in a related civil …