WASHINGTON — A forthcoming rule from the Securities and Exchange Commission on the use of AI in finance is in the crosshairs of two Republican senators, who introduced a bill Tuesday to kill the regulation before it can be finalized. The draft rule unveiled last July would require financial firms to identify and eliminate conflicts … Read more
The hack of the Securities and Exchange Commission’s (SEC) account on X, the platform formerly known as Twitter, earlier this month was the result of a ‘SIM swap’ attack, an agency spokesperson said Tuesday. An “unauthorized party” used SIM swapping to obtain control of the phone number associated with the SEC’s X account and reset … Read more
DAVOS, Switzerland — Ripple explored markets outside the U.S. for its initial public offering, CEO Brad Garlinghouse told CNBC, blaming a “hostile” regulator. However, the firm has put any plans for an IPO on hold for now, Garlinghouse said. Garlinghouse told CNBC in 2022 that Ripple, the company behind the cryptocurrency XRP, will explore a public … Read more
Sopa Images | Lightrocket | Getty Images Now that bitcoin ETFs are trading across U.S. public markets, many large money managers that have been effectively locked out of crypto finally have a way to access the primary digital currency. For the $30 trillion advised wealth management industry, the floodgates could be about to open. Analysts … Read more
Pawan Passi, former equities executive at Morgan Stanley, arrives at court in New York, US, on Friday, Jan. 12, 2024. Alex Kent | Bloomberg | Getty Images Morgan Stanley has agreed to pay a total of $249 million to settle a criminal investigation and a related Securities and Exchange Commission probe of the unauthorized disclosure … Read more
Former Vice President Al Gore will retire from Apple’s board of directors next month after more than 20 years with the company. In a filing with the U.S. Securities and Exchange Commission (SEC), Apple announced Gore, along with former Boeing CEO James Bell, will retire during the company’s 2024 annual shareholder meeting next month. The … Read more
Bitcoin exchange-traded funds saw big swings on their first day of trading on Thursday, mirroring a volatile day for crypto prices more broadly. The Grayscale Bitcoin Trust (GBTC) closed up 0.5%, well off its highs of the day, while the iShares Bitcoin Trust (IBIT) fell more than 4% after initially rising in morning trading. Both … Read more
St. Moritz, SWITZERLAND — U.S. Securities and Exchange Chair Gary Gensler fired warning shots to the crypto industry, casting doubt over whether digital coin ether would follow next in the footsteps of bitcoin to receive approval for an exchange-traded fund. After the bitcoin ETF approval, prices for ether — the token linked with Ethereum — … Read more
The U.S. Securities and Exchange Commission just approved the first-ever batch of spot bitcoin exchange-traded funds to come out of the U.S. The agency gave the green light on Wednesday to sponsors of 10 ETFs, including BlackRock, Invesco, Fidelity, Grayscale, and Ark Invest — paving the way for these funds to begin trading as soon … Read more
In their letter, Vance and Tillis set a deadline of January 23 for the SEC to elucidate its plans to investigate what happened, among other things. In a statement, the SEC said it will “work with law enforcement and our partners across government to investigate the matter and determine appropriate next steps relating to both … Read more
