Gurbir S Grewal | FinTelegram News

Tag: Gurbir S Grewal

October 3, 2024

Good News For Crypto: SEC Enforcement Director Gurbir S. Grewal Steps Down After Impactful Tenure!

The U.S. Securities and Exchange Commission (SEC) is set to experience a significant leadership change as Enforcement Director Gurbir S. Grewal announces his departure. Grewal oversaw a period of heightened regulatory activity specifically targeting the crypto sector. Under his leadership, the SEC Filed high-profile lawsuits against major cryptocurrency exchanges, including Binance and Coinbase.

February 12, 2024

Meet Gurbir S. Grewal, One Of The Most Powerful People In The Global Regulatory Enforcement Scene!

Hardly any SEC press release does not include his name. Gurbir S. Grewal stands as a pivotal figure in the realm of global financial regulation, having assumed the role of Director of the Division of Enforcement at the U.S. SEC. Since his appointment, Grewal has embarked on a mission to fortify the integrity of financial markets through rigorous enforcement of securities laws, reflecting his deep commitment to protecting investors.

February 11, 2024

Over $81 Million in Fines for Recordkeeping Failures: A Sweeping SEC Enforcement Action!

The U.S. SEC has levied fines exceeding $81 million against a group of 16 financial firms for substantial recordkeeping lapses. These firms, encompassing five broker-dealers, seven entities dual-registered as broker-dealers and investment advisers, along with four affiliated investment advisers, have admitted to failing to maintain and preserve electronic communications as mandated by federal securities laws.

November 21, 2023

Breaking: SEC Targets Kraken in a Crackdown Threatening the US Crypto Ecosystem!

The U.S. SEC has charged Payward Inc. and Payward Ventures Inc., d/b/a Kraken, with operating an unregistered securities exchange, broker, dealer, and clearing agency. This latest action by the SEC aligns with similar complaints filed against industry giants Binance and Coinbase, intensifying concerns that such regulatory measures may significantly challenge the crypto scene in the U.S.

SEC
ticker

November 15, 2023

Under Scrutiny! Record-Breaking 2023 Numbers For The SEC Enforcement Division!

In a notable development for fiscal year 2023, the U.S. Securities and Exchange Commission (SEC) reported 784 executed enforcement actions, obtained orders for nearly $5 billion in financial remedies, and distributed nearly $1 billion to harmed investors. The SEC’s Whistleblower Program had a record-breaking year as well, issuing nearly $600 million in awards.

August 13, 2023

Crypto Platform Bittrex and Former CEO to Settle SEC Charges!

The U.S. Securities and Exchange Commission (SEC) confirmed a settlement with Bittrex Inc., a leading crypto trading platform, and its co-founder & ex-CEO, William Shihara, over allegations of operating without proper registrations. Bittrex Global GmbH, the international branch of Bittrex Inc., also settled charges for not registering as a securities exchange. While settling, Bittrex and Shihara haven't admitted or denied the SEC's claims.

May 5, 2023

Mind Blowing: U.S. SEC Issues Highest-Ever Whistleblower Award!

The U.S. Securities and Exchange Commission (SEC) announced the largest-ever whistleblower award. The U.S. regulator paid nearly $279 million to a whistleblower whose information and assistance led to the successful enforcement of SEC and related actions. This is the highest award in the SEC’s whistleblower program’s history, more than doubling the $114 million whistleblower award the SEC issued in October 2020.

April 4, 2023

Goodbye life: Frank Founder Charlie Javice Arrested And Charged With Fraud!

In 2021, the U.S. banking giant JP Morgan paid $175 million for Frank, a student loan assistance fintech startup founded by former CEO Charlie Javice in 2016 (report here). JP Morgen launched a lawsuit against its founder Javice, alleging she had created 4.25 million users to inflate the value of the business. Now, the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC) charged Javice with fraud. She fooled the wrong people and was was arrested last night.

February 17, 2023

U.S. SEC Files Fraud Complaint Against Terra-Luna Scheme And Its CEO Do Kwon!

In Q2 2022, the TerraUSD (USDT) stablecoin collapsed with an estimated $60 billion wipeout, shaking the global digital currency market. The USDT crash marked the begin of Crypto Winter with the collapse of other major crypto schemes. The U.S. Securities and Exchange Commission (SEC) charged Singapore-based Terraform Labs PTE Ltd and Do Kwon with orchestrating a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities.

OpenAI Closes $6.6 Billion Funding at $157 Billion Valuation, Nearly Doubling its Valuation!

The AI pioneer OpenAI under Sam Altman closed its long-awaited funding round, announcing that it raised $6.6 billion at a $157 billion post-money valuation. OpenAI’s $157 billion valuation underscores its AI dominance, yet losses loom large. Will Thrive Capital, Microsoft, and Nvidia’s backing help steer the ship through the challenges ahead? Stay tuned for more.

High-Profile Maltese Money Laundering & Corruption Case Continues with Keith Schembri Challenging Forensic Expert’s Impartiality!

Keith Schembri, former Chief of Staff of the Maltese Prime Minister, is accused of money laundering and corruption. His legal team has requested that forensic expert Samuel Sittlington, Police Commissioner Angelo Gafa, and former Deputy Commissioner Alexandra Mamo testify to clarify alleged negotiations for consultancy services during the investigation. The defense calls into question the expert’s independence, further complicating an already contentious trial.

Circle Joins U.S.-Led Initiative to Combat Illicit Finance in Virtual Assets!

Erik Rosenblatt, a senior leader at US stablecoin issuer Circle, will represent the company on the Illicit Virtual Asset Network (IVAN) board. Prior to joining Circle, Rosenblatt spent over two decades as a special agent with the U.S. Department of Homeland Security and the U.S. Department of the Treasury. As part of IVAN, Circle will have a voting role in determining the network's priorities and membership.

Evil Corp: A Comprehensive Report on Russia’s Family-Driven Cybercriminal Organization!

The U.S. Department of Justice and Department of Treasury have taken significant action against Evil Corp, a Russia-based cybercriminal group responsible for developing and distributing malware that has stolen over $100 million from banks and financial institutions across 40 countries. Evil Corp appears to operate as a family enterprise, with multiple family members involved.