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Senator Richard Burr said on Friday that the U.S. Securities and Exchange Commission informed him this week it has concluded investigation concerning him with no action. U.S. authorities investigated Burr, a North Carolina lawmaker who did not seek reelection last year, for his stock trades before the downturn caused by the coronavirus pandemic. Burr denied any wrongdoing and said he relied solely on news reports to make decisions on his stock transactions. He said in January 2021 the Justice Department had closed a related probe. Reporting by Nate Raymond Additional reporting and writing by Chris Prentice, Editing by Franklin Paul and Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. securities regulator probes FTX investors' due diligence -sources
▼ + stars: | 2023-01-05 | by ( Chris Prentice | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File PhotoNEW YORK, Jan 5 (Reuters) - The U.S. Securities and Exchange Commission (SEC) is seeking details about FTX investors' due diligence, according to two sources familiar with the inquiry, as fallout from the crypto firm's collapse spreads. Reuters and others previously reported that U.S. authorities sent document requests to investors and potential investors in FTX, seeking details on their communications with FTX officials. Those inquiries predated last month's SEC charges against FTX founder Sam Bankman-Fried for allegedly defrauding such investors. The SEC's inquiries to investors have continued after SEC filed those charges, and the agency has now shifted its focus to the firms' diligence, the sources said. FTX filed for bankruptcy in November amid what its new CEO later described as a "complete failure of corporate controls".

☆ Coinbase to pay $50 mln to settle NY state investigation, invest $50 mln in compliance
▼ + stars: | 2023-01-04 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 4 (Reuters) - U.S.-based cryptocurrency exchange Coinbase Inc (COIN.O) has reached a $100 million settlement with New York's Department of Financial Services (DFS), the exchange and the regulator said in statements on Wednesday. The settlement, which includes a $50 million penalty, caps the regulator's investigation into the firm's compliance with requirements to prevent money laundering. “Coinbase failed to build and maintain a functional compliance program that could keep pace with its growth. That failure exposed the Coinbase platform to potential criminal activity," said New York DFS Superintendent Adrienne Harris. Coinbase, a publicly traded firm and one of the largest global crypto exchanges, will pay another $50 million to boost compliance efforts aimed at blocking potential criminals from using the exchange, the company said.

Bankman-Fried is accused of illegally using FTX customer deposits to support his Alameda Research hedge fund, buy real estate and make millions of dollars in political contributions. He is scheduled to appear at 2 p.m. EST (1900 GMT) on Tuesday before U.S. District Judge Lewis Kaplan in Manhattan to enter a plea. It is not unusual for criminal defendants to initially plead not guilty. Bankman-Fried has admitted to making mistakes running FTX but said he did not believe he was criminally liable. The prosecution case was strengthened by last month's guilty pleas of two of Bankman-Fried's closest associates.

☆ NBA roundup: Zion Williamson's career night propels Pelicans
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +7 min

Mandatory Credit: Stephen Lew-USA TODAY SportsDecember 29 - Zion Williamson scored his team's final 14 points as part of a career-high 43-point night as the host New Orleans Pelicans came from behind to defeat the Minnesota Timberwolves 119-118 on Wednesday night. Trey Murphy III added 21 points, CJ McCollum scored 20, Jonas Valanciunas had 12 points and 11 rebounds, and Naji Marshall scored 12 points as New Orleans won its fourth straight. Nikola Jokic had 40 points, Bones Hyland scored 20, Michael Porter Jr. 19 and Zeke Nnaji 14 for the Nuggets. Saddiq Bey poured in 28 points and added eight rebounds and four assists, while Bojan Bogdanovic had 14 points with five assists. LeBron James matched Butler for a game-high of 27 points, and also added nine rebounds with six assists, but committed six turnovers.

☆ Southwest's antiquated and atypical flight systems are partially responsible for cancellation chaos, airline experts say
▼ + stars: | 2022-12-28 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +7 min

An outdated scheduling system and unique flight network structure exacerbated the problem. Airline analysts and industry experts told Insider and other outlets that Southwest's outdated scheduling system and atypical approach to mapping its flight network were partially responsible for the crisis. Canceled Southwest Airlines flights show on a monitor at Hollywood Burbank Airport, Tuesday, Dec 27, 2022. The problem has been further inflamed by Southwest's scheduling system. Passengers wait in line to claim their baggage at Nashville International Airport after their flights on Southwest Airlines were cancelled in Nashville, Tennessee, on December 27, 2022.

☆ Prosecutors charge two top executives in connection with FTX collapse
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Dec 21 (Reuters) - Federal prosecutors on Wednesday said they have charged Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. (FTX) with defrauding investors in the crypto trading platform. U.S. Attorney Damian Williams said in a video statement that both Wang and Ellison have pleaded guilty to the charges and have agreed to cooperate with prosecutors. He said that Sam Bankman-Fried, founder of FTX, is now in FBI custody and is on his way to the United States. Williams also gave a stark warning in the video: "If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it. Reporting by Chris Prentice and Luc Cohen; Editing by Megan Davies & Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

NEW YORK, Dec 20 (Reuters) - Two Morgan Stanley (MS.N) equity syndicate bankers, Pawan Passi and Charles Leisure, are no longer listed as registered brokers at the Wall Street firm, according to industry regulator FINRA's website. His FINRA profile includes a disclosure about a pending customer dispute that alleges "misrepresentation with respect to block trading" in 2021. The broker registration for Leisure, an executive director, also ended Dec. 16, his FINRA profile showed. Arnaud Blanchard became the head of the equity syndicate desk in New York earlier this year, according to his LinkedIn profile. Morgan Stanley in February disclosed that U.S. regulators and prosecutors were probing various aspects of the investment bank's block trading business.

Dec 20 (Reuters) - Wells Fargo & Co (WFC.N) agreed to pay $3.7 billion to settle charges from a U.S. consumer watchdog over widespread mismanagement of car loans, mortgages and bank accounts, the regulator said Tuesday. "Wells Fargo is a corporate recidivist that puts one-third of American households at risk of harm,” CFPB Director Rohit Chopra told journalists in a briefing. Shares of Wells Fargo were down less than 1% in late morning trading. Wells Fargo has faced multiple enforcement actions taken by the CFPB and other banking regulators for violations across the bank's business lines. Scharf became CEO in 2019, the fourth person to lead Wells Fargo since the scandal emerged.

☆ NBA roundup: Thunder spoil Damian Lillard's record night
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +7 min

No Thunder player other than Gilgeous-Alexander scored more than 13 points, but six other Oklahoma City players scored in double figures. He scored 11 points and nailed three 3-pointers in the first six minutes to help the Cavaliers establish control early. Jarrett Allen added 20 points and 11 rebounds, while Darius Garland contributed 17 points and eight assists. Trae Young led the Hawks with 37 points, and he added 13 assists for his 15th double-double of the season. Anunoby returned from a four-game absence to score 13 points and reserve Chris Boucher had 13 points and 10 rebounds for the Raptors, who lost their sixth straight game.

OAKLAND, Calif., Dec 19 (Reuters) - Mark Zuckerberg considered saying in a 2017 speech that Facebook was looking into "organizations like Cambridge Analytica," according to details from a deposition of him by the U.S. Securities and Exchange Commission. Zuckerberg in the deposition also acknowledges asking colleagues in January 2017 to assess Cambridge's claims about its influence in elections. Media reports in March 2018 suggested that Cambridge kept leveraging Facebook data, prompting government investigations related to data protection practices that Facebook settled in the United States for at least $5.1 billion. In the draft obtained by the SEC, Zuckerberg proposed saying: "We are already looking into foreign actors including Russian intelligence, actors in other former Soviet states and organizations like Cambridge Analytica." Zamaan Qureshi, policy advisor for consumer advocacy group The Real Facebook Oversight Board, said the deposition should increase users' doubts of Meta.

Dec 19 (Reuters) - U.S.-based manufacturer Honeywell International Inc (HON.O) on Monday said it has agreed to pay about $200 million to settle criminal and civil corruption investigations in the United States and Brazil. Those bribes involved Monaco-based oil consultancy Unaoil, which has previously been charged by global authorities over a 17-year scheme to pay bribes to officials in nine countries. About $160 million of the total amount Honeywell said it will pay will go to pay U.S. civil and criminal penalties. Later on Monday, Brazil's government confirmed Honeywell's statement by saying the company would pay about 638 million reais ($120 million) to settle the case, with around 70% destined for Petrobras. Honeywell agreed to pay another $81 million civil penalty to resolve the SEC's charges, though almost half is expected to be offset by payments made to Brazilian authorities, the SEC said.

Companies Honeywell International Inc FollowDec 19 (Reuters) - Manufacturer Honeywell International Inc. (HON.O) on Monday said it has agreed to pay about $200 million to settle criminal and civil corruption investigations related to bribery schemes in the United States and Brazil. The SEC charges also relate to payments Honeywell's Belgian subsidiary made to an Algerian government official in 2011. Those bribes involved Monaco-based oil consultancy Unaoil, which has previously been charged by global authorities over a 17-year scheme to pay bribes to officials in nine countries. About $160 million of the total amount Honeywell said it will pay will go to U.S. civil and criminal penalties. Honeywell agreed to pay another $81 million civil penalty to resolve the SEC's charges, though almost half is expected to be offset by payments made to Brazilian authorities, the SEC said.

☆ Keystone cleanup turns remote Kansas valley into a small town
▼ + stars: | 2022-12-18 | by ( Erwin Seba | ) www.reuters.com time to read: +4 min

And while the city of Washington, Kansas, is small with just over 1,000 residents, it is surrounded by farms where wheat, corn, soybeans are planted and cattle are raised. The once-quiet valley is currently a construction site buzzing with some 400 contractors, staff from pipeline operator TC Energy, and federal, state and local officials. The valley has become almost a small town, with several Quonset-style huts erected for workers. WIDER GROUP AFFECTEDLiving in rural Kansas, the Pannbackers are used to preparing for harsh weather, but not an oil spill. “How many people have experienced an oil spill?

☆ NBA roundup: Devin Booker erupts for 58 in Suns' comeback win
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: +5 min

[1/5] Dec 17, 2022; Phoenix, Arizona, USA; New Orleans Pelicans forward Zion Williamson (right) against Phoenix Suns guard Devin Booker in the second half at Footprint Center. Paul added 18 points for Phoenix while Mikal Bridges hit for 15 and Bismack Biyombo had 11. Keldon Johnson led the Spurs with 22 points, while Devin Vassell scored 18 and Zach Collins added 13. Lauri Markkanen and Malik Beasley both scored 18 points for the Jazz, who scored fewer than 100 points for just the second time this season. Evan Mobley recorded 17 points, eight rebounds and four assists to send the Cavaliers to their second win over the Mavericks in four days.

☆ GOP Rep. Dan Crenshaw says it's 'crazy' that Republicans put forward 'two 25-year-olds to be our nominees' in the midterms: 'We lost races we easily should have won'
▼ + stars: | 2022-12-17 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Rep. Dan Crenshaw critiqued some of the GOP candidates tapped to run for office in 2022. GOP voters nominated Karoline Leavitt, 25, and Bo Hines, 27, in two key House districts. However, in a recent Politico interview, GOP Rep. Dan Crenshaw of Texas said that his party erred in nominating younger candidates in two of the most competitive House districts in the country. That's batshit crazy," the 38-year-old congressman told the publication of two young Republicans who won primaries to serve as their party's nominees. In New Hampshire's 1st Congressional district, Democratic Rep. Chris Pappas defeated 25-year-old former Trump White House assistant press secretary Karoline Leavitt 54%-46%.

The announcement from the U.S. accounting watchdog removes the risk that around 200 Chinese companies, including Alibaba (BABA.N), could be kicked off U.S. stock exchanges. "This falls into the category of a game changing view of Chinese companies because the threat of their delisting seems to have been eliminated." Washington and Beijing reached a landmark deal in August to settle a long-running dispute over auditing compliance of U.S.-listed Chinese firms. Authorities in China have long been reluctant to let overseas regulators inspect local accounting firms, citing national security concerns. U.S. lawmakers in 2020 agreed to legislation that would oust Chinese companies from U.S. stock exchanges unless they adhere to American auditing standards.

"This falls into the category of a game changing view of Chinese companies because the threat of their delisting seems to have been eliminated," said Art Hogan, chief market strategist at B. Riley Financial. However, the relief was not seen in Thursday's trading for U.S.-listed shares of Chinese companies, which were higher amid the news, but gave up gains and some ended sharply lower. Washington and Beijing reached a landmark deal in August to settle a long-running dispute over auditing compliance of U.S.-listed Chinese firms. Authorities in China have long been reluctant to let overseas regulators inspect local accounting firms, citing national security concerns. U.S. lawmakers in 2020 agreed to legislation that would oust Chinese companies from U.S. stock exchanges unless they adhere to American auditing standards.

Now, with the fraud charges filed earlier this week against Sam Bankman-Fried, the founder of the bankrupt FTX exchange, Williams has further solidified his office's growing role in prosecuting financial crimes involving cryptocurrency, according to interviews with a half-dozen former prosecutors. Bankman-Fried, 30, has acknowledged risk management failures at FTX but said he does not believe he has criminal liability. In the wake of Bankman-Fried's arrest, Williams has made clear he would plow on with cryptocurrency enforcement. On Wednesday, he announced wire fraud conspiracy charges against the founders of two separate cryptocurrency mining and trading companies he called Ponzi schemes. On Tuesday, Williams told reporters more charges in the FTX probe were possible.

Lawmakers are generally in agreement that crypto firms should have greater regulation, but there are divergent views on how the industry should be regulated. U.S. prosecutors on Tuesday charged FTX founder Sam Bankman-Fried with money laundering and fraud, among other violations. "It is time for Congress to make the crypto industry follow the same money-laundering rules as everyone else," U.S. She and Republican Senator Roger Marshall from Kansas earlier announced legislation aimed at closing money laundering loopholes in the crypto industry. Without U.S. regulation, the value of crypto investments could disappear, said hearing witness and American University law professor Hilary Allen.

[1/2] The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. "Securities fraud victimizes innocent investors and undermines the integrity of our public markets,” said Assistant Attorney General Kenneth Polite of the Justice Department's Criminal Division. His attorney did not respond immediately to a request for comment. Rybarczyk and Deel did not respond immediately to requests for comment. Reporting by Chris Prentice and Nate Raymond; Editing by Mark Porter and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Major cryptocurrency cases probed by U.S. authorities
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +5 min

BITMEX EMPLOYEESEmployees of BitMEX, including the cryptocurrency exchange's founders, pleaded guilty this year to willfully failing to establish, implement and maintain programs to prevent money laundering. The firm's cofounders pleaded guilty in federal court in New York and each agreed to pay a $10 million criminal fine. Another of the firm's employees also pleaded guilty, and agreed to a $150,000 fine. ONECOIN LTDIn 2019, U.S. authorities charged the alleged leaders of a multibillion-dolar pyramid scheme involving a fraudulent cryptocurrency called OneCoin. After a six-month court battle, Telegram agreed to pay an $18.5 million civil penalty and return $1.2 billion to investors.

☆ Ron DeSantis outflanks Trump on the right with his call for Covid vaccine probe
▼ + stars: | 2022-12-13 | by ( Marc Caputo | Marc Caputo Is A Senior National Political Reporter For Nbc News. | ) www.nbcnews.com time to read: +6 min

Ron DeSantis was positioning himself to get to the right of the former president over the issue of Covid vaccines. DeSantis, who is mulling whether to challenge Trump in the 2024 Republican primary for president, deepened those suspicions Tuesday. That’s his record,” said Roger Stone, a longtime adviser to Trump and an outspoken critic of DeSantis. The poll also showed DeSantis ahead of President Joe Biden in a theoretical general election matchup by 47%-43%, but Biden topped Trump 47%-40%. “So the only option for DeSantis to pose a challenge to Trump is to attack him on the vaccine.

The Golden Globes are attempting to press forward after a rocky few years for the Hollywood Foreign Press Association, the organization that puts on the ceremony. The press association ultimately decided to hold the event privately, with a small audience and winners announced on social media. The Hollywood Foreign Press Association has since diversified its voting membership, and NBC has reinstated the telecast. Including popular television series could help the Globes draw viewers this year. Gilles Mingasson / ABCThe nominees for best drama series are "Better Call Saul," "The Crown," "House of the Dragon," "Ozark" and "Severance."

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