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☆ Takeaways: Trump scores big win in Colorado 14th Amendment ballot challenge
▼ + stars: | 2024-03-04 | by ( John Fritze | Devan Cole | ) edition.cnn.com time to read: +7 min

Those actions, the state court ruled, violated Section 3 of the 14th Amendment and left Trump ineligible to appear on the state’s ballot. Monday’s Supreme Court decision appeared certain to shut down those and other efforts to remove the frontrunner for the GOP nomination from the ballot. Supreme Court avoids insurrectionist debateThe Supreme Court’s opinion doesn’t directly address whether Trump’s actions on January 6 qualified as an “insurrection” – skirting an issue that the courts in Colorado wrestled with. “While the Supreme Court allowed Donald Trump back on the ballot on technical legal grounds, this was in no way a win for Trump,” Noah Bookbinder, the group’s president said. That decision, they said, wasn’t before the Supreme Court in the case and would “insulate all alleged insurrectionists” from future challenges.

Persons: Donald Trump, “, ”, Trump, –, Amy Coney Barrett, Sonia Sotomayor, Elena Kagan, Ketanji Brown Jackson, Barrett, Trump’s, ” Noah Bookbinder, ’ Barrett, ” “, ” Barrett, – Sotomayor, Kagan, Jackson –, wasn’t, insurrectionists ” Organizations: CNN, Capitol, Trump, GOP, US Capitol, Liberal Locations: Colorado, Colorado’s, Maine, Illinois, Washington, The Colorado

Michael Cargill, owner of Central Texas Gun Works in Austin, opposes the ban on bump stock sales. “During the Trump administration, the bump stock ban cropped up as a rather glaring example of unlawful administrative power,” Philip Hamburger, a founder of the New Civil Liberties Alliance, said in an email. Image A bump stock attaches to a semiautomatic rifle and enables it to fire at a much higher rate. In response, the Justice Department promised to review the legality of bump stocks, but A.T.F. Eventually, the full court agreed with Mr. Cargill by vote of 13 to 3, split along ideological lines.

Persons: Michael Cargill, ”, Cargill, Trump, ” Philip Hamburger, Elizabeth B, Prelogar, George Frey, Cargill strolled, “, Mark Chenoweth, ” Mr, Chenoweth, Obama, ” “, Mr, Charles Koch, Jonathan F, Mitchell, Donald J, Stephen Paddock, Erin Schaff, Jennifer Walker Elrod Organizations: Central Texas Gun, Government, Army, New Civil Liberties Alliance, —, Alcohol, Tobacco, Firearms, Explosives, National Firearms, Charles Koch Foundation, Koch Industries, Colorado Supreme, National Rifle Association, Justice Department, Congress, The New York Times Federal, U.S ., Appeals, Fifth Circuit, Mr, Gun Control Locations: Austin, Las Vegas, ”, “, Texas

☆ Indicted ex-FBI informant’s lawyers may be trying to help him flee the US, judge says
▼ + stars: | 2024-02-23 | by ( Hannah Rabinowitz | ) edition.cnn.com time to read: +2 min

His second arrest Thursday was on a new warrant for the exact same charges. In a brief order, district Judge Otis Wright, who will oversee the criminal case against Smirnov in California, raised the possibility that Smirnov’s defense lawyers might be trying to make it easier for him to flee the United States. Wright has scheduled a detention hearing for Smirnov in his Los Angeles courtroom for Monday morning. As a result, the public should have confidence that it will be conducted consistent with the rule of law,” Smirnov’s attorneys wrote. “In this case, the Court has prejudged the detention issue.”Smirnov’s attorneys declined to comment on Wright’s order.

Persons: Alexander Smirnov, ” Smirnov, Joe Biden’s, Prosecutors, Smirnov, Otis Wright, Defendant Smirnov, ” Wright, Wright, ” Organizations: CNN, FBI, District of Locations: California, United States, Ukraine, Nevada, District, District of Nevada, Los Angeles

The organization will host trade ministers and other officials from its 164 member countries in Abu Dhabi from Feb. 26-29. “People don’t realize that they’re taking for granted that 75% of world trade is taking place on WTO terms,” she said. Photos You Should See View All 33 ImagesIn Abu Dhabi, countries will discuss a “Fish 2” deal to ban subsidies that contribute to too many boats — or overfishing in general. It has created a “tough environment” for deals in Abu Dhabi at the end of the month. “The best we can do is to demonstrate why ... continuing to follow WTO rules is the best thing for the world.”

Persons: Donald Trump —, —, Ngozi Okonjo, Iweala, ”, Trump, “ Organizations: GENEVA, World Trade Organization, White House, WTO, Agriculture, United, Washington, European Union, Trump Locations: Geneva, Abu Dhabi, United States, Canada, Mexico, China, Britain, Japan, U.S, India, Europe

Whether any of the relief will materialize is a looming question as conservatives vow to challenge any attempt at mass student loan cancellation. For a Federal Stafford Loan, a Direct Subsidized Loan or a Direct Unsubsidized Loan, repayment starts after the initial grace period ends. For a Federal PLUS Loan or a Direct PLUS Loan, repayment starts the day the loan is fully disbursed. LOW-VALUE PROGRAMSBorrowers could get their loans canceled if they went to a for-profit college program that leaves graduates unable to repay their federal student loans. In general, programs are considered failing if graduates are paying more than 8% of their average yearly income on federal student loan payments.

Persons: Joe Biden's, Biden's, Biden, ” Organizations: WASHINGTON, Education Department, Federal Stafford Loan, Federal PLUS Loan, PLUS Loan, Public, Defense, Associated Press, Carnegie Corporation of New, AP Locations: Carnegie Corporation of New York

☆ Mo'Nique says Oprah Winfrey stole movie roles from her and demands a public apology amid their 15-year feud
▼ + stars: | 2024-02-08 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +4 min

Read previewComedian Mo'Nique rekindled her yearslong feud with Oprah Winfrey, accusing her of stealing movie roles and blindsiding the "Precious" actor by interviewing her estranged parents on her show. Oprah Winfrey." AdvertisementMo'Nique said Oprah Winfrey didn't ask her before interviewing her estranged parents on her showMo'Nique also addressed the drama regarding her family's appearance on "The Oprah Winfrey Show" in 2010. In 2023, Mo'Nique told The Hollywood Reporter that Winfrey told her that her brother would be on the show, not her estranged parents also, and avoided Mo'Nique's calls after the interview aired. "I shared with Oprah Winfrey what we were going through and how I felt," she added.

Persons: —, Mo'Nique, Oprah Winfrey, Winfrey, Tyler Perry, Lee Daniels, Perry, Daniels, Oscar, Shay Shay, Shannon Sharpe, Monique, The Butler, Oprah, Butler, Richard Pryor, You've, you've, I'm, Mo'Nique's, Films Mo'Nique, Barbara Walters, Walters Organizations: Service, Business, Hollywood, Films Locations: Hollywood

☆ Banks Sue Regulators Over Anti-Redlining Rule
▼ + stars: | 2024-02-05 | by ( Emily Flitter | More About Emily Flitter | ) www.nytimes.com time to read: +1 min

Some of the banking industry’s most powerful trade groups sued the Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency on Monday, claiming that the regulators overstepped their authority in updating a law meant to reverse the effects of redlining. In October, the regulators imposed new frameworks for assessing whether banks are abiding by the 1977 Community Reinvestment Act, which requires banks to do business in neighborhoods made up largely of racial minorities or low-income households that they typically shunned. The lawsuit said the rule was “a complicated and burdensome regime” and might “ultimately result in reduced lending to the very populations that the C.R.A. was designed to benefit.”The suit was filed by the American Bankers Association, the Independent Community Bankers of America and the U.S. Chamber of Commerce, trade groups that represent virtually all U.S. banks. Several Texas groups joined as plaintiffs, allowing the Washington-based groups to sue in federal court in that state, where they have already won favorable rulings against the regulators.

Persons: “ Organizations: Federal Reserve, Federal Deposit Insurance Corporation, American Bankers Association, Independent Community Bankers of America, U.S . Chamber of Commerce, Texas Locations: Washington

☆ Former CIA employee sentenced to 40 years in prison after carrying out largest data leak in agency’s history
▼ + stars: | 2024-02-01 | by ( Rob Frehse | Mark Morales | ) edition.cnn.com time to read: +3 min

CNN —A former CIA employee was sentenced to 40 years in prison after carrying out the largest data leak in the agency’s history, the US Attorney’s Office of the Southern District of New York announced Thursday. He was also found guilty in 2023 of receiving, possessing and transporting child pornography, according to the US Attorney’s Office. He had worked as a computer engineer within the CIA’s Center for Cyber Intelligence, and created cyber tools that could grab data undetected from computers. A year later, investigators said Schulte stole cyber tools and source code and transferred them to WikiLeaks, according to court records. Schulte, who also allegedly lied to CIA and FBI investigators to cover his tracks, was arrested in August 2017 on child pornography charges.

Persons: CNN —, Joshua Schulte –, –, Schulte, “ Joshua Schulte, Damian Williams, ” Williams, Joshua Schulte, Elizabeth Williams, James Smith Organizations: CNN, CIA, US, Office, Southern, of New York, WikiLeaks, CIA’s, Cyber Intelligence, FBI, AP “, Investigators Locations: New York

☆ Investors Lose Legal Bid Against Exchange Over Nickel Market Blowup
▼ + stars: | 2023-11-29 | by ( Yusuf Khan | Joe Wallace | ) www.wsj.com time to read: 1 min

Traders work on the floor of the London Metal Exchange in London. Photo: simon dawson/ReutersLONDON—The London Metal Exchange chalked up a big victory over investors on Wednesday, when a court said it was within its rights to cancel trades during a high-profile blowup in the nickel market sparked by Russia’s full-scale invasion of Ukraine. The U.K. court rejected claims by activist fund Elliott Investment Management and market maker Jane Street Global Trading that the exchange had overstepped its powers by nixing $12 billion in trades in March last year. Had they won, Elliott and Jane Street planned to claim hundreds of millions of dollars in damages combined in a follow-on trial.

Persons: simon dawson, Russia’s, nixing, Elliott, Jane Street Organizations: London Metal Exchange, Reuters, Elliott Investment Management, Jane, Global Locations: London, Ukraine

☆ In death, Charlie Munger is loved by China
▼ + stars: | 2023-11-29 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Chinese social media is treating Charlie Munger, who died at 99 on Tuesday, with great reverence. AdvertisementAs Wall Street mourns the death of investing legend Charlie Munger, Chinese social media is tipping its hat to the man. Advertisement"Live long, be rich, have children and grandchildren, what a perfect life," wrote another user under a news report about his death. Munger, who amassed a net worth of around $2.3 billion, had a reputation for witty one-liners on life, geopolitics, business, and governance. Munger, who was outspoken against cryptocurrencies, also lauded China's main bank for banning crypto in 2021.

Persons: Charlie Munger, —, Berkshire Hathaway, Munger, aplenty, Warren Buffet's, Xi Jinping, Jack Ma, Ma, cryptocurrencies, Elon Musk's Tesla Organizations: Service, Berkshire, Weibo, Twitter, Sina Finance, Business, Communists Locations: Weibo, Munger, China, Berkshire, Nebraska, America, Washington, Beijing, Shenzhen

The group usually has one active case against financial regulators, but currently has two against the Securities and Exchange Commission (SEC) and one against the Consumer Financial Protection Bureau (CFPB), he said. To be sure, the financial regulators have been sued many times during previous administrations, including by pro-reform advocacy groups. "There are some financial regulators that are walking right into it," he added. In September, for example, bank groups accused regulators including the Federal Reserve of violating the APA with a new capital rule. According to research by Wharton School professor David Zaring, neither industry groups nor individual lenders have filed more than one suit over the past decade challenging Fed policymaking.

Persons: Jim Bourg, Gibson, Dunn, Crutcher, Joe Biden's, Donald Trump's, Tom Quaadman, Jack Inglis, CFPB, Dennis Kelleher, Trump, Eugene Scalia, Gibson Dunn, Scalia, Antonin Scalia, Rebeca Romero Rainey, David Zaring, Kelleher, Douglas Gillison, Chris Prentice, Pete Schroeder, Nate Raymond, Jody Godoy, Megan Davies, Nick Zieminski Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, WASHINGTON, Democratic, Republican, Reuters, APA, U.S . Chamber of Commerce, Securities and Exchange Commission, Consumer Financial Protection Bureau, Funds, Alternative Investment Management Association, Fifth Circuit, Appeals, Better Markets, Biden, American Bankers Association, Labor, Supreme, Independent Community Bankers of, Federal, Wharton School, Thomson Locations: Washington, Independent Community Bankers of America

☆ Philippines bans American traveler for life, accusing him of writing profanities on immigration form
▼ + stars: | 2023-11-17 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

CNN —The Philippines has banned for life an American traveler whom it accused of writing “profane words” on a digital immigration form and being rude to immigration officers. Anthony Laurence, 34, was refused entry and put on a blacklist permanently following his allegedly “disrespectful” behavior, the Philippine Bureau of Immigration Commissioner Norman Tansingco said in a statement last week. Laurence, who told CNN he is a property investor who lives in the country intermittently, disputes the immigration authority’s account. He did not respond to CNN’s questions about what he wrote on the form and whether it included any profanities. But he said, “I immediately apologized and the immigration officer wasn’t interested.”“I even hand-wrote an apology to the immigration officer which he wasn’t interested in as well,” Laurence added.

Persons: Anthony Laurence, Norman Tansingco, Laurence, ”, Tansingco, “, wasn’t, ” “, ” Laurence Organizations: CNN, Philippine Bureau of Immigration, Ninoy Aquino, Airport, Air, Cebu – Locations: Philippines, Manila, Bangkok, Thailand, Air Asia, Philippine, Cebu

STATE COLLEGE, Pa. (AP) — No. 9 Penn State on Saturday, a monster matchup with Big Ten and national championship implications, with a major question mark. Penn State will be the first ranked team Michigan has faced. After Penn State, the Wolverines are at Maryland before the traditional regular-season finale against heated rival Ohio State. The Big Ten's penalty would allow Harbaugh to return for the Big Ten championship game and the playoff, if Michigan makes it.

Persons: Jim Harbaugh, Harbaugh, Tony Petitti, Petitti, Ralph D, Russo Organizations: COLLEGE, Penn State, Ten, Big Ten, Wolverines, Big, Nittany Lions, Michigan, NCAA, Conference, Penn, College Football, Ohio State, Buckeyes, Ann, AP Locations: Pa, Michigan, Maryland, Ohio, Ann Arbor , Michigan

SANTA FE, N.M. (AP) — Voters have approved a tax on mansions to pay for affordable housing initiatives in New Mexico's capital city of Santa Fe. Tuesday's vote signals newfound public support for so-called mansion taxes to fund affordable housing and stave off homelessness. The buyer would pay $6,000 to the city’s affordable housing trust fund. Santa Fe voters previously shied away from prominent tax initiatives, rejecting a 1% tax on high-end home sales in 2009 and defeating a tax on sugary drinks to expand early childhood education in 2017. The Santa Fe Association of Realtors has filed a lawsuit aimed at blocking the tax, arguing that it the city overstepped its authority under state law.

Organizations: SANTA FE, —, Voters, Santa Fe, Santa Fe Association of Realtors Locations: SANTA, New Mexico's, Santa Fe, Los Angeles, Chicago, Santa

A Minnesota appeals court on Thursday stepped in to protect voting rights recently granted to felons under a new law, undoing a judge's effort to strip two convicts of their right to vote. The Minnesota Court of Appeals found Mille Lacs County District Judge Matthew Quinn had no authority to find the new law unconstitutional. The law, which took effect in July, says people with felony convictions regain the right to vote after they have completed any prison term. In his orders, Quinn concluded the Legislature’s passage of the law did not constitute the kind of “affirmative act” he said was needed to properly restore a felon’s civil rights. So he said he now has a duty going forward to “independently evaluate the voting capacity” of felons when they complete probation.

Persons: Matthew Quinn, Quinn, ”, Donald Trump, Joe Biden Organizations: Minnesota Locations: Minnesota, Mille Lacs

☆ Clarence Thomas ruled against student debt relief. Now a Senate panel alleges his healthcare exec pal forgave his $267,230 loan.
▼ + stars: | 2023-10-26 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +2 min

A Senate committee found that Clarence Thomas had a substantial loan forgiven by a wealthy friend in 2008. Thomas' friend, healthcare exec Anthony Welters, loaned him over $260,000 that Thomas used to purchase a luxury RV. The findings came four months after Thomas joined a majority Supreme Court opinion striking down Biden's student debt forgiveness plan. The Senate Finance Committee said Thomas didn't report the loan on his ethics forms. "Justice Thomas should inform the committee exactly how much debt was forgiven and whether he properly reported the loan forgiveness on his tax returns and paid all taxes owed.

Persons: Clarence Thomas, Thomas, Anthony Welters, —, Joe Biden, Biden, Thomas ', Welters, Thomas didn't, Oregon Sen, Ron Wyden Organizations: Service, White, New York Times, Committee, Finance Locations: Oregon

☆ Technip Energies shares plunge after Le Monde report on Russian gas project
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +3 min

Oct 19 (Reuters) - Technip Energies (TE.PA) shares plummeted on Thursday after French newspaper Le Monde said the oil and gas company may have failed to comply with European Union sanctions against Russia by continuing to supply equipment to a Russian gas project. Technip Energies said in a statement after its shares fell as much as 22% that it had always respected international sanctions and its contractual obligations regarding the Arctic LNG2 project in Russia. "Technip Energies has worked with the relevant authorities and has complied with sanctions gradually imposed by the European Union, the United States and Britain," it said. The equipment delivered by Technip involved two modules for the construction of a liquefaction train worth around 450 million euros, Le Monde said, citing Russian customs records, maritime data and satellite images. "$800 million of market cap came off, it's a very harsh response, and suggests the news scared investors out there," said the analyst, who spoke on condition of anonymity, referring to the Le Monde story.

Persons: Le Monde, Monde, Technip, China's CNPC, Piotr Lipinski, Nathan Vifflin, Benjamin Mallet, Silvia Aloisi, David Evans Organizations: Union, Russia, European Union, Le, Japan, Mitsui & Co, Thomson Locations: Russian, Russia, United States, Britain, Paris, EU, Ukraine, Gdansk

BOWLING GREEN, Ky. (AP) — Republican voter Mark Cook stuck with his party in Kentucky's last election for governor. Once again, Warren County, which includes the leafy, fast-growing college town of Bowling Green, looms as a potential swing area. Those undecided voters included Carol Martin of Bowling Green, who wanted to hear more from both candidates. “I believe him," the retiree said while strolling through a downtown Bowling Green park. "And what you see is what you get.”A Republican lawmaker from Bowling Green had a different view.

Persons: Mark Cook, Andy Beshear, Cook, Donald Trump, Joe Biden, Beshear, “ He's, ” Cook, “ I’ve, I’m, Daniel Cameron, Kentuckians, Matt Bevin, Trump, Cameron, ”, Scott Lasley, “, Carol Martin, Martin, “ I’m, Bevin, Dale Chaffin, Chaffin, Still, what's, Donald Kubeny, Roe, Wade, he’s, Linda King's, ” King, Gary Jolly, Susann Davis, ” Davis, Olivia Thomas, Patti Minter, it’s, Minter, Sen, Mike Wilson, Daniel Organizations: — Republican, Republican, Democratic, Bluegrass State, ”, Beshear, Western Kentucky University, National Corvette Museum, Bowling Green, Northern Kentucky University, “, Democrat, Cameron, Supreme, Bowling, GOP, reined, Former, Bowling Green Democrat Locations: Ky, Kentucky's, Kentucky, Bowling, Appalachia, Mississippi, Warren County, It's, Louisville, Western Kentucky, Fayette County, Lexington, ”, Highland Heights, bologna, U.S, Bowling Green

OTTAWA, Oct 13 (Reuters) - Canada's Supreme Court on Friday ruled a federal law assessing how major infrastructure projects like coal mines and oil sands plants impact the environment is largely unconstitutional, in a blow to Prime Minister Justin Trudeau's government. "This is a significant setback for the federal government," said David Wright, a law professor at the University of Calgary. "The court has said the federal government can enact environmental assessment legislation but the way they went about it, for most of this law, goes too far." The IAA was drafted by Trudeau's Liberal government in 2019 in a bid to streamline and restore trust in the environmental approval process for major projects. Last year the federal government warned Suncor the environmental impact from expanding Base Mine would be "unacceptable" under the IAA because expected carbon emissions were too high.

Persons: Justin Trudeau's, Bill C, Richard Wagner, David Wright, Wright, Danielle Smith, Trudeau, Mike Martens, Major, Ismail Shakil, Nia Williams, David Ljunggren, Deborah Kyvrikosaios, Richard Chang Organizations: OTTAWA, Alberta, University of Calgary, IAA, Trudeau's Liberal, Liberals, Industry, Independent Contractors, Association Alberta, Thomson Locations: Canada, Ottawa, Alberta

Below is a list of Musk's legal entanglements. The SEC had said in May 2022 that it was looking into Musk's disclosures about his stake in company. $56 BILLION TESLA COMPENSATION LAWSUITA ruling is also expected soon following a non-jury trial challenging Musk's $56 billion pay at Tesla. EMPLOYMENT DISPUTESMusk's major companies Tesla, SpaceX and the X social media platform are embroiled in several legal disputes alleging age, gender or race-based discrimination. LAWSUITS SPARKED BY MUSK'S TWEETSMusk's tweets on the social media platform that he now owns has often courted controversy and been the subject of legal trouble.

Persons: Elon Musk, Chuck Schumer, Leah Millis, Musk, X, Tesla, Donald Trump, Tom Hals, Jaspreet Singh, Zaheer Kachwala, Noeleen Walder, Matthew Lewis, Rod Nickel Organizations: Intelligence, Senate, U.S, Capitol, REUTERS, Twitter, U.S . Securities, Exchange Commission, SEC, Tesla, SpaceX, U.S . Justice Department, California's Department of Civil Rights, U.S . National Labor Relations Board, U.S . SEC, Supreme, Wall Street, Thomson Locations: Washington , U.S, Florida, California, San Francisco, U.S, Los Angeles, Manhattan, Wilmington, Del, Bengaluru

☆ People are criticizing a major women-in-tech event, saying its jobs fair was dominated by pushy men
▼ + stars: | 2023-10-02 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +6 min

People are criticizing a women's tech conference after it was flooded by men. AdvertisementAdvertisementA tech conference celebrating women and non-binary people in computer science sparked a backlash after people said it was dominated by men. "Instead of feeling inspired and energized, I feel drained and overwhelmed," one woman named Nandini Agarwal wrote, saying she waited in line for hours to get in. "Chaos was the word of the day," wrote a woman named Preeti Ladwa. Another woman named Nivrithi Garimella said left one line "due to unchecked men displaying aggressive behavior, ganging up to trample women completely."

Persons: Grace Hopper, —, Gabby, Lily Li, It's, Li, Nandini Agarwal, I've, Preeti Ladwa, Nivrithi Garimella, AnitaB, Bo Young Lee Organizations: Service, US Navy, AnitaB Locations: Computing, Orlando

☆ WTO needs progress on 'non-market' practices, dispute settlement -USTR's Tai
▼ + stars: | 2023-09-22 | by ( David Lawder | ) www.reuters.com time to read: +4 min

She said that in recent years, the WTO has failed to address non-market practices by some countries, seeking to "dominate key industrial sectors, promote national champions and discriminate foreign competitors, massively subsidize key sectors and manipulate cost structures." "And we certainly need to reform our dispute settlement system." "The United States wants a WTO where dispute settlement is fair and effective and supports a healthy balance of sovereignty, democracy, and economic integration," Tai said. Where we have better rules and tools to tackle non-market policies and practices and to confront the climate crisis and other pressing issues." Tai has long pushed back against China's "non-market" economic and trade practices from China, raising fresh objections to its state-led approach during a late May meeting with Chinese Commerce Minister Wang Wentao in Detroit.

Persons: Katherine Tai, Biden's, Jonathan Ernst, Tai, Ngozi, Iweala, Wang Wentao, David Lawder, Grant McCool Organizations: Trade, REUTERS, Rights, . Trade, World Trade Organization, WTO, Center for Strategic, China's, Chinese Commerce, Thomson Locations: Washington , U.S, U.S, WTO, Washington, China, Abu Dhabi, United States, Detroit

Signage is seen at the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., U.S., May 12, 2021. SEC Chair Gary Gensler said the rules will increase transparency and competition in the private funds industry, which oversees around $20 trillion in assets and has been accused by advocacy groups of opacity and conflicts of interest. The changes require private funds to issue quarterly fee and performance reports and to perform annual audits. Bryan Corbett, chief executive officer of the Managed Funds Association (MFA), said the rules will increase costs for investors and curb competition, he added. The other petitioners are the National Venture Capital Association, American Investment Council, Alternative Investment Management Association, National Association of Private Fund Managers and the Loan Syndications & Trading Association.

Persons: Andrew Kelly, Gary Gensler, Bryan Corbett, Carolina Mandl, Jonathan Oatis, Peter Graff, Cynthia Osterman Organizations: U.S . Securities, Exchange Commission, SEC, Washington , D.C, REUTERS, Friday, Funds, U.S, Circuit, Appeals, National Venture Capital Association, American Investment Council, Alternative Investment Management Association, National Association of Private Fund, Trading Association, Gensler's SEC, Thomson Locations: Washington ,, New York

The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. The Massachusetts Supreme Judiciary Court reversed a lower-court judge's decision in favor of Robinhood in a lawsuit it filed after Massachusetts Secretary of State Bill Galvin in 2020 accused it of encouraging inexperienced investors to place risky trades. Galvin is seeking to have Robinhood's state broker-dealer license revoked. She noted that Galvin deemed the rule necessary "to protect investors confused by the increasingly blurred line between broker-dealers providing investment advice and investment advisers." "The rule that has been upheld by the Supreme Judicial Court today will give the highest protections to Massachusetts investors when brokers provide investment advice," Galvin, a Democrat, said in a statement.

Persons: Andrew Kelly, Bill Galvin, Galvin, Lucas Moskowitz, Robinhood's, Robinhood, stockbrokers, Dalila Wendlandt, Galvin permissibly, Nate Raymond, Jonathan Oatis, Alexia Garamfalvi Organizations: Inc, REUTERS, BOSTON, Court, U.S . Securities, Exchange Commission, Robinhood, Menlo, Thomson Locations: New York City, U.S, Massachusetts, Menlo Park , California, Friday's, Boston

☆ The Big Number: 30 Million
▼ + stars: | 2023-08-25 | by ( Marie Solis | ) www.nytimes.com time to read: 1 min

The program, called SAVE, is something of a Plan B for President Biden, whose efforts to cancel up to $20,000 per borrower were thwarted by the Supreme Court in June, when justices ruled that he had overstepped his authority. While perhaps less flashy than Biden’s earlier effort, SAVE will reduce payments for millions of borrowers, eventually by as much as half.

Persons: Biden

Search resuls for: "overstepped"

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