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The private fund industry manages $20 trillion in assets. They would also require funds to perform annual audits. "Private fund advisers, through the funds they manage, touch so much of our economy," he said at the time. The rule would require fund managers to disclose so-called "side letters" - an industry practice through which funds can offer some investors special terms - when they are financially material. Earlier, the proposed rules would require investors and private funds to re-write all their contracts.

Persons: Jim Bourg, Exchange Commission's, Gary Gensler, Andreesen Horowitz, Michelle Price, Nick Zieminski, Mark Porter Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, Securities, Exchange, Citadel, Industry, Association, Alternative Investment Management Association, Thomson Locations: Washington, U.S

NEW YORK, Aug 21 (Reuters) - Fintech investment adviser Titan Global Capital Management USA LLC agreed to pay over $1 million to settle charges from the U.S. Securities and Exchange Commission that it misled investors about performance metrics and custody of clients' crypto assets. Titan, a New York-based registered investment adviser, misled investors with statements made on its website about hypothetical returns from August 2021 to October 2022, the SEC said in a statement. That included touting annualized crypto performance results as high 2,700% without telling investors they were extrapolated from a "purely" hypothetical three-week period during which no trading occurred, the SEC said in a charging document. Reuters previously reported the SEC was investigating investment advisers over whether they are meeting rules around custody of client crypto assets. Titan agreed to pay a $850,000 civil penalty that will be distributed to affected clients and give back ill-gotten gains and interest of over $192,000, the SEC said.

Persons: Chris Prentice, Sharon Singleton Organizations: Titan Global Capital Management, U.S . Securities, Exchange Commission, SEC, Reuters, Titan, Thomson Locations: New York

The long-awaited rule is expected to require that real estate professionals such as title insurers report the identities of the beneficial owners of companies buying real estate in cash to the Treasury's Financial Crimes Enforcement Network (FinCEN). Criminals have for decades anonymously hidden ill-gotten gains in real estate, Treasury Secretary Janet Yellen said in March, adding that as much as $2.3 billion was laundered through U.S. real estate between 2015 and 2020. That debate has slowed down FinCEN's work on the real estate reporting rule, one of the sources said. PATCHWORKWhile banks have long been required to understand the source of customer funds and report suspicious transactions, no such rules exist nationwide for the real estate industry. FinCEN implemented GTOs in 2016 after the New York Times revealed that nearly half of luxury real estate was bought by anonymous shell companies.

Persons: Janet Yellen, Erica Hanichak, FinCEN, Jodi Vittori, Guo Wengui, Guo, Donald Trump, Steve Bannon, Howard, David Szakonyi, Luc Cohen, Chris Prentice, Amy Stevens, Michelle Price, Matthew Lewis Organizations: U.S . Treasury Department, FACT Coalition, Association, New York Times, Carnegie Endowment, International Peace, Nardello, Government, Office, George Washington University, New, Thomson Locations: New York, Miami, Los Angeles, Chinese, Jersey, Manhattan

WASHINGTON, Aug 8 (Reuters) - U.S. regulators on Tuesday hit another batch of Wall Street firms with $549 million in civil penalties over widespread record-keeping failures related to employees' use of personal text messages and other messaging apps. Eleven firms, including Wells Fargo Securities and BNP Paribas Securities Corp, have agreed to pay $289 million in fines to the U.S. Securities and Exchange Commission to resolve the allegations. Regulators require broker dealers and investment advisers to keep certain work-related communications, but Wall Street dealers have increasingly used personal devices in recent years. Spokespeople for BNP, which agreed to pay $110 million to the regulators, and Mizuho, which agreed to pay $25 million to the SEC, declined to comment. The regulators have already fined units of JPMorgan Chase and Co (JPM.N), Barclays, Bank of America and others for similar record-keeping failures.

Persons: Wells, Société, Spokespeople, Gurbir Grewal, Chris Prentice, Susan Heavey, Nivedita Balu, Nupur Anand, Saeed Azhar, Bernadette Baum, Jason Neely Organizations: Wall Street, Wells, Wells Fargo Securities, BNP Paribas Securities Corp, U.S . Securities, Exchange Commission, Futures Trading, BNP, Bank of Montreal, Wedbush Securities Inc, Wall, SEC, CFTC, Mizuho, Nikko Securities, JPMorgan Chase, Barclays, Bank of America, Reuters, Thomson Locations: U.S, Wells Fargo, Nikko, New York, Washington, Toronto

A representation of the cryptocurrency is seen in front of Coinbase logo in this illustration taken, March 4, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoNEW YORK, Aug 4 (Reuters) - Coinbase Global (COIN.O) on Friday asked a judge to end the U.S. Securities and Exchange Commission's lawsuit accusing the world's largest publicly traded cryptocurrency exchange of violating federal securities laws. Coinbase was sued by the SEC in June, and accused of operating illegally as a national securities exchange, broker and clearing agency without registering with the regulator. Firms are closely watching the litigation between the SEC and Coinbase, with some onlookers deeming it an "existential" clash. Coinbase leaned on the recent Ripple matter in Friday's filing, noting the SEC's lawsuit hinges on the type of transactions that the judge deemed outside of the regulator's jurisdiction.

Persons: Dado Ruvic, Coinbase, Paul Grewal, Chris Prentice, Toby Chopra, Jonathan Oatis Organizations: REUTERS, U.S . Securities, Exchange, SEC, Labs, Thomson Locations: Manhattan

DWS said the resolution of allegations was a top priority but that it couldn't comment on timeframes or outcomes. Under Democratic leadership, the SEC has pledged to crack down on "greenwashing" and the inflating of ESG credentials to attract investors. DWS had earmarked civil litigation provisions of 8 million euros ($8.84 million) by the end of last year. DWS has been in settlement negotiations with Frankfurt prosecutors over a multi-million euro fine, one of the people said. Earlier in July, Reuters and other media reported that German prosecutors were investigating DWS' former CEO Asoka Woehrmann, who in the past has called allegations "unfounded".

Persons: DWS, Goldman Sachs, Asoka Woehrmann, Chris Prentice, Tom Sims, John O'Donnell, Louise Heavens, Susan Fenton Organizations: U.S . Securities, Exchange Commission, U.S, Deutsche Bank, Securities, SEC, Investigations, Democratic, Frankfurt, Reuters, Thomson Locations: FRANKFURT, Germany

July 11 (Reuters) - Bank of America on Tuesday agreed to pay $250 million in fines and compensation to settle claims the bank systematically double-charged customers fees, withheld promised credit card perks, and opened accounts without customer authorization. Consumers could not reasonably expect or understand they would be hit with $35 fees each time the bank declined to pay a single transaction, regulators said. In a statement, Bank of America said it voluntarily eliminated or reduced a range of fees last year. The accounts represented a "small percentage" of new accounts at the bank, regulators said. As a result of these industry leading changes, revenue from these fees has dropped more than 90 percent," Bank of America said in a statement.

Persons: Rohit Chopra, Rami Ayyub, Chris Prentice, Saeed Azhar, Jonathan Stempel, Emma Rumney, Michelle Price, Sharon Singleton, Emelia Organizations: Bank of America, Consumer Financial Protection Bureau, Currency, OCC, Thomson Locations: Charlotte , North Carolina

LOS ANGELES, July 2 (Reuters) - Thousands of Los Angeles-area hotel workers went on strike on Sunday demanding pay hikes and improved benefits in a region where high housing costs make it difficult for low-wage earners to live close to where they hold jobs, union officials said. Unite Here Local 11, which represents 15,000 workers at more than 60 major hotels in Los Angeles and Orange counties, declared the strike a day after the workers' contract expired. [1/4]People protest in front of Hotel Indigo as unionized hotel workers in Los Angeles and Orange County go on strike, in Los Angeles, California, U.S. July 2, 2023. Los Angeles has been a flashpoint for labor strife on several fronts this year, including the protracted writers strike and a three-day walkout in March by education support staff for the Los Angeles Unified School District. Reporting by Steve Gorman in Los Angeles and Gabriella Borter in New York; Editing by Mary Milliken and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Kurt Petersen, Maria Hernandez, David Swanson, Hernandez, Steve Gorman, Gabriella Borter, Mary Milliken, Josie Kao Organizations: Southern, Hollywood, InterContinental, Hotel, Millennium Biltmore, JW Marriott, Fairmont, Sheraton Universal, Universal, REUTERS, Westin Bonaventure Hotel, Coordinated, Westin Bonaventure, Los Angeles City News Service, Los Angeles Unified School District, Thomson Locations: ANGELES, Los Angeles, Orange, Fairmont Miramar, Santa Monica, Universal City, Laguna Cliffs, Dana Point, Indigo, Orange County, Los Angeles , California, U.S, L.A, Beverly Hills, Long Beach, West, New York

For just as long, critics of affirmative action have questioned whether race-conscious admissions policies are fair or warranted. The Supreme Court weighed in on Thursday, striking down affirmative action policies at Harvard and the University of North Carolina. In 2014, he founded Students for Fair Admissions, the group behind several major Supreme Court challenges to affirmative action - including the cases that led to Thursday's decision. Connerly persuaded his fellow regents to ban affirmative action. He concluded that affirmative action as part of an approach that aimed to remedy historic disadvantages and did not favor unqualified applicants over qualified ones could still be used.

Persons: EDWARD BLUM Edward Blum, Blum, LEE BOLLINGER, Lee Bollinger, Society's, Bollinger, WARD CONNERLY, Jim Crow, Pete Wilson, Connerly, CHRISTOPHER EDLEY, Bill Clinton, Christopher Edley Jr, Clinton, Edley, Joseph Ax, Gabriella Borter, Sharon Bernstein, Donna Bryson, Leslie Adler Organizations: Harvard, University of North, Fair, University of Michigan, U.S, Bollinger, Columbia University, Universities, Republican, Regents, University of California, UC, American, JR, UC Berkeley's, Thomson Locations: University of North Carolina, U.S ., Grutter, Michigan, California, Louisiana, Sacramento

June 29 (Reuters) - The U.S. Supreme Court on Thursday struck down race-conscious admissions policies at Harvard University and the University of North Carolina, a practice called affirmative action employed by a majority of selective schools. Harvard was sued in 2014 by anti-affirmative action group Students for Fair Admissions, which accused Harvard of unlawful discrimination against Asian American applicants in its admissions practices. UNIVERSITY OF NORTH CAROLINAThe University of North Carolina at Chapel Hill is a prestigious public research university. Students for Fair Admissions sued UNC in 2014, alleging that the Chapel Hill campus unlawfully discriminated against white and Asian American applicants. STUDENTS FOR FAIR ADMISSIONSStudents for Fair Admissions is a nonprofit organization founded in 2014 by conservative activist Edward Blum, who has waged a legal war against affirmative action policies.

Persons: Harvard, Edward Blum, EDWARD BLUM, Blum, Abigail Fisher, Gabriella Borter, Will Dunham, Donna Bryson, William Maclean Organizations: U.S, Supreme, Harvard University, University of North, HARVARD UNIVERSITY Harvard University, Ivy League, Harvard, Fair, Asian, Civil, UNIVERSITY, NORTH CAROLINA The University of North, UNC, Fair Admissions, University of Texas, Lawyers, Thomson Locations: University of North Carolina, Cambridge , Massachusetts, U.S, NORTH CAROLINA The University of North Carolina, Constitution's

The Republican-led state is currently enforcing a near-total abortion ban, with exceptions for rape, incest or the life of the mother. MONTANA: Governor Greg Gianforte in May signed into law several bills limiting abortion access, including one that aims to overturn a 1999 state Supreme Court ruling that found the state constitution protected a right to abortion. TEXAS: While abortion is completely banned with very limited exceptions in Texas, Republican state representatives have introduced legislation that would compel internet providers to block websites that supply abortion pills or provide information on how to obtain an abortion. UTAH: Republican Governor Spencer Cox in March signed legislation to prohibit the licensing of abortion clinics, which abortion rights advocates say would effectively eliminate access in the state. In April, he also signed into law a bill to shield abortion providers and patients from other states' legal attacks.

Persons: Sam Wolfe, Roe, Wade, Ron DeSantis, Brad Little, Greg Gianforte, Jim Pillen, Roy Cooper's, Doug Burgum, Henry McMaster, Spencer Cox, Mark Gordon, Gretchen Whitmer, J.B, Pritzker, Tim Walz, Gabriella Borter, Sharon Bernstein, Julia Harte, Colleen Jenkins, Alistair Bell Organizations: Carolina House, REUTERS, U.S, Supreme, Republican, NORTH, Democratic, SOUTH, South Carolina Supreme Court, Senate, Minnesota, Thomson Locations: Columbia , South Carolina, U.S, FLORIDA, . IDAHO, MONTANA, . NEBRASKA, NORTH CAROLINA, North Carolina, NORTH DAKOTA, North Dakota, SOUTH CAROLINA, Carolina, TEXAS, Texas, UTAH, Utah . WYOMING, CALIFORNIA, MICHIGAN, ILLINOIS, MINNESOTA, OHIO, Washington, Sacramento , California, New York

Violations were found in 25-50% of audits reviewed, depending on the audit standard at issue, the SEC said. "Marcum neglected its essential gatekeeper function in service to its own growth," said SEC Chair Gary Gensler in a statement. The SEC found the deficiencies were not limited to Marcum's SPAC clients. In addition to the civil penalty, settlement requires Marcum undertake remedial actions including hiring an independent consultant to review its policies procedures and to abide by certain restrictions when taking on new clients. Reporting by Chris Prentice; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Marcum, Nikola, Gary Gensler, Chris Prentice, Conor Humphries Organizations: Nikola, U.S . Securities, Exchange Commission, SEC, SPACs, Marcum, DraftKings Inc, Thomson

[1/2] The Titan submersible, operated by OceanGate Expeditions to explore the wreckage of the sunken SS Titanic off the coast of Newfoundland, dives in an undated photograph. OceanGate Expeditions/Handout via REUTERSJune 21 (Reuters) - Around the world, the story of the missing Titanic submersible and its rescue operation's race against time has been riveting onlookers. Erin Geary, a 27-year-old research assistant in Atlanta, Georgia, described feeling sad, anxious and mystified as she watched the rescue operation for the Titan submersible unfold. Geary grew up as a fan of the 1997 movie the "Titanic" starring Leonardo DiCaprio, which cemented the ill-fated ship's tale in modern popular imagination. "Some people think the Titanic is kind of cursed, so why would you purposely put yourself in that situation?"

Persons: Erin Geary, Geary, Leonardo DiCaprio, Hamish Harding, Shahzada Dawood, Suleman, Paul, Henri Nargeolet, Jenna Roat, Gabriella Borter, Tim McLaughlin, Sandra Maler Organizations: OceanGate Expeditions, REUTERS, Google, Stockton Rush, OceanGate, Coast Guard, Thomson Locations: Newfoundland, Atlanta , Georgia, Chile, Pakistani, French, Greece, Boston

☆ From ‘Front-Page Girls’ to Newsroom Leaders
▼ + stars: | 2023-05-13 | by ( Jane Kamensky | ) www.nytimes.com time to read: +3 min

Yet few readers today will place Ross’s name, let alone those of the “front-page girls” she celebrated. Papers with strapped budgets took on more women, a trajectory that mirrors the history of professions like teaching and nursing. Still, as late as the 1950s, Kroeger writes, “women journalists inched across a swinging rope bridge toward fuller acceptance but still in single file.” Their pluck went only so far. Between 1970 and 1983, anti-discrimination suits roiled The Times, Newsweek, Time, The Washington Post and The Associated Press, among other outlets. Before those proceedings, women had tended to cluster “on the bottom rungs of a company ladder with broken steps,” Kroeger writes.

May 10 (Reuters) - Republican vulnerabilities on abortion policy are on display in Ohio, with the party playing defense against a surge in abortion rights activism that could help President Joe Biden and his Democratic Party in next year's elections. Abortion rights advocates have racked up electoral victories, lifting Democrats along the way, since the Supreme Court struck down the national right to abortion last year. Ohio Republicans passed a six-week state abortion ban in 2019, but that law is blocked while litigation proceeds. In Republican-leaning Kentucky, abortion rights activists are already knocking on doors ahead of November's gubernatorial election, when Democrat Andy Beshear is seeking another term. Senate President Matt Huffman has made clear the measure is aimed at the abortion rights amendment.

The Republican-led state is currently enforcing a near-total abortion ban, with exceptions for rape, incest or the life of the mother. NORTH CAROLINA: House Republicans have introduced a bill to ban abortion from conception, except to preserve the life or health of the mother. The Senate tabled discussion of a near-total abortion ban on Thursday after it had been approved by the House. PROTECTIONSCALIFORNIA: A Democratic state senator has introduced a bill to protect doctors who prescribe medication abortion pills to patients in other states. ILLINOIS: Democratic Governor J.B. Pritzker in January signed a law protecting abortion providers and out-of-state patients from legal attacks waged by other states.

☆ Florida lawmakers approve 6-week abortion ban, sending bill to DeSantis for signature
▼ + stars: | 2023-04-13 | by ( Gabriella Borter | Thomson Reuters | Gabriella Borter Is A Reporter On The U.S. National Affairs Team | ) www.reuters.com time to read: +3 min

April 13 (Reuters) - Florida's Republican-led House of Representatives on Thursday gave final approval to a six-week abortion ban, setting the stage for abortion access to be drastically curtailed in the state and across the U.S. South. Lawmakers in the Florida House approved the ban on abortions after six weeks of pregnancy in a 70-40 vote. A Reuters/Ipsos poll completed on Wednesday found that about 50% of Americans strongly or somewhat oppose a national six-week abortion ban, including 44% of Republicans. The fate of the ban will depend on the outcome of a court challenge to the state's 15-week abortion ban, which abortion providers have argued violates the state constitutional right to privacy. If the Florida Supreme Court rules that the 15-week ban is constitutional, the six-week ban would take effect 30 days later.

☆ Florida lawmakers approve 6-week abortion ban, sending to Governor Desantis for signature
▼ + stars: | 2023-04-13 | by ( Gabriella Borter | Thomson Reuters | Gabriella Borter Is A Reporter On The U.S. National Affairs Team | ) www.reuters.com time to read: +2 min

April 13 (Reuters) - Florida's Republican-led House of Representatives on Thursday gave final approval to a six-week abortion ban, setting the stage for abortion access to be drastically curtailed in the state and across the U.S. South. Lawmakers in the Florida House on Thursday approved the six-week ban with a vote of 70-40. While some 13 states ban abortion at six weeks and earlier, polling has consistently showed that most Americans support legal abortion in most cases. The fate of the ban may depend on the outcome of a court challenge to the state's current 15-week abortion ban, which abortion providers have argued violates the state constitutional right to privacy. The case is pending with the Florida Supreme Court.

REUTERS/Karen Pulfer FochtApril 9 (Reuters) - Two Tennessee Democrats who were expelled from the Republican-dominated state House of Representatives last week over their participation in a gun control protest said on Sunday that they hoped to soon reclaim their seats. Metro Council Member Kevin Rhoten said on Twitter that he had been bombarded with emails since Thursday asking him to vote to appoint Justin Jones for the District 52 seat, and that he planned to do that. "I would be honored to accept the appointment of the Shelby County Commission and to run in a special election," Pearson told NBC on Sunday. Videos posted to Twitter showed the two Black lawmakers, Representatives Jones and Pearson, shouting through a bullhorn on the House floor, saying "No action, no peace!" Only two other Tennessee state representatives have been expelled by their colleagues since the Civil War era: one in 1980 for soliciting a bribe in exchange for blocking legislation and another in 2016 after being accused of sexual misconduct by numerous women.

Here is a snapshot of pending and passed legislation seeking to restrict or protect access in 2023. KANSAS: Although Kansans voted in favor of state abortion rights on a ballot measure last year, the Republican-led state Senate has passed a prohibition on prescribing abortion pills via telemedicine. The Republican-led state is currently enforcing a total abortion ban, with exceptions for rape, incest or the life of the mother. MONTANA: The Republican-led state Senate has passed a bill seeking to overturn a 1999 state Supreme Court ruling that found that the state constitution protected a right to abortion. SOUTH CAROLINA: Despite the fact that the state Supreme Court recently struck down a six-week abortion ban in a 3-2 vote, Republicans have introduced a near-total abortion ban and a six-week ban this year.

Florida currently has a law banning abortions after 15 weeks of pregnancy, which is being challenged in court. Republicans in the state House of Representatives and Senate filed concurrent bills last month to restrict the procedure further, starting at six weeks of pregnancy. With Republicans controlling the legislature and governorship in Florida, a six-week ban is likely to become law. The fate of the legislation also depends on how the state supreme court rules in a challenge of the 15-week ban. A six-week ban would restrict abortion access across the U.S. South, where most other states have already banned the procedure at early stages of pregnancy.

The conservative-leaning court will issue rulings this spring in cases questioning the legality of race-conscious admissions at Harvard and the University of North Carolina. To increase enrollment of all underrepresented groups on campus without race-conscious admissions, the study said, schools would need to overhaul the entire process. The study's authors said it was unlikely that schools would universally adopt class-conscious admissions. Those that do try class-conscious admissions might still face discrimination lawsuits if they start giving explicit preference to low-income students, Carnevale added. Schools would have to invest heavily in expanding their recruitment of high school students from disadvantaged backgrounds for a class-based alternative to produce anywhere near the level of racial diversity accomplished through race-conscious admissions, the study found.

Of the various potential rulings possible in the case involving the abortion pill mifepristone, either of those outcomes would be unprecedented judicial intervention in the agency's regulatory process. Some of the FDA's options could be politically and legally risky both for the agency and mifepristone suppliers, they said. The FDA said the pill was deemed safe after extensive studies and use, and that the challenge comes much too late. Under FDA statutes and regulations, drug approval withdrawal generally begins with an informal hearing, which can entail extensive document preparation and the convening of an advisory committee. Overseas provider Aid Access, an Austria-based service that ships abortion medication to U.S. patients, said it would continue providing the pill no matter how the FDA responds.

March 12 (Reuters) - A Texas man has filed a wrongful death lawsuit accusing three women of helping his ex-wife obtain abortion pills, in one of the first major legal challenges under a state abortion ban since the United States Supreme Court overturned Roe v. Wade. Plaintiff Marcus Silva filed the lawsuit on Thursday in Galveston County, Texas, alleging that three Texas women are liable for wrongful death because they helped his ex-wife obtain abortion pills to terminate a pregnancy in July 2022. Since the U.S. Supreme Court overturned Roe v. Wade in June 2022, eliminating federal abortion rights, Texas has been one of about a dozen states that has enforced a total abortion ban. It is illegal to "aid or abet" abortions in Texas, which the lawsuit claims defendants Jackie Noyola, Amy Carpenter and Aracely Garcia did. Photos of text messages apparently between Brittni Silva, Noyola and Carpenter, attached as exhibitions in the court documents, show the women discussing Silva's pregnancy and her desire to get abortion pills in Texas.

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