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Nov 16 (Reuters) - Crypto lender Genesis Global Capital suspended customer redemptions on Wednesday, citing the sudden failure of crypto exchange FTX, while court papers showed FTX founder Sam Bankman-Fried faces legal action. After a flurry of tweets and interviews by Bankman-Fried, FTX said he "has no ongoing role" at the company and does not speak on its behalf. LEGAL ACTIONMeanwhile, U.S. court filings showed Bankman-Fried is facing legal action in the United States from investors alleging the company's yield-bearing crypto accounts violated Florida law. U.S. and Bahamian authorities were discussing the possibility of bringing Bankman-Fried to the United States for questioning, Bloomberg reported on Tuesday. Elsewhere, crypto exchange Binance said it had not contributed to FTX's collapse, in a response to a hearing on the crypto industry by a British parliamentary committee.

HONG KONG/WASHINGTON, Nov 16 (Reuters) - U.S. regulators gained "good access" in their review of auditing work done on New York-listed Chinese firms during a seven-week inspection, four sources with knowledge of the matter said - a key step forward in resolving a long-standing bilateral dispute. Inspectors with the Public Company Accounting Oversight Board (PCAOB) conducting the inspection in Hong Kong gained all the information they requested, one of the sources said. They were also allowed to print out some documents to more easily review information despite some initial hesitancy from Chinese officials, the source said. Authorities in China have long been reluctant to let overseas regulators inspect local accounting firms, citing national security concerns. Reporting by Xie Yu and Julie Zhu in Hong Kong, Chris Prentice in Washington; Editing by Sumeet Chatterjee and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. SEC stepped up enforcement activity in fy2022, assessed record penalties
▼ + stars: | 2022-11-15 | by ( John Mccrank | ) www.reuters.com time to read: +2 min

The total assessed included a record $4.2 billion in civil penalties, up from a total amount of $3.6 billion in 2021, as it filed 760 total enforcement actions, including 462 new or stand-alone ones. The SEC chair previously announced the amount of fines and fees assessed, but the annual report published on Wednesday provided more details in its roundup of activity in the year ended Sept. 30. SEC actions against JP Morgan Securities LLC, 15 other broker dealers, and one investment adviser for widespread and long-standing failures to maintain and preserve work-related text messages conducted on employees' personal devices made up over $1.2 billion of SEC penalties in 2022. The SEC also filed charges against Deloitte's China-based affiliate of failing to comply with U.S. auditing requirements and secured a record penalty against crypto firm BlockFi for selling unregistered securities. Reporting by John McCrank in New York; Additional reporting by Chris Prentice; Editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ S&P Global Ratings to pay $2.5 mln to settle U.S. regulator charges
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Nov 14 (Reuters) - S&P Global Ratings agreed to pay a $2.5 million penalty to settle U.S. Securities and Exchange Commission charges that it violated rules to prevent conflicts of interest, the regulator said in a statement on Monday. S&P employees ran afoul of rules designed to prevent sales and marketing considerations from influencing credit ratings determinations during a five-day period in August 2017, the SEC said. S&P commercial employees attempted to pressure colleagues responsible for evaluating and assigning a rating to a jumbo residential mortgage-backed security transaction by an issuer in July 2017. The firm's commercial employees "became participants in the rating process during a time when they were influenced by sales and marketing considerations," the regulator said in its statement. Ratings agencies, which are registered with SEC, are required to keep all sales and marketing considerations from affecting credit ratings.

☆ Crypto clearinghouse LedgerX withdraws FTX's request last year to CFTC
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: 1 min

Nov 14 (Reuters) - Digital currency futures and options clearinghouse LedgerX LLC submitted to the U.S. Commodity Futures Trading Commission a formal withdrawal of FTX's request from December last year that sought to allow the crypto exchange to offer products that are not fully collateralized. Reporting by Chris Prentice in Washington and Mehnaz Yasmin in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ Manhattan U.S. attorney's office investigates FTX downfall - source
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

The downfall followed a failed rescue deal with rival exchange Binance, with FTX now facing scrutiny from U.S. regulators over its handling of customer funds, as well as its crypto-lending activities. The Manhattan U.S. attorney's office declined to comment. Reuters reported last week that at least $1 billion of customer funds have vanished from FTX, citing sources. But the bigger blow to digital assets came since FTX, which had developed a penchant for bailing out troubled crypto firms, showed early cracks. "The FTX crash spotlighted well-known structural issues in the crypto ecosystem: insufficient reserves, conflict of interest, a lack of regulation and transparency, and unreliable data."

He is seeking the remainder from other funds, including current investors in FTX such as venture capital fund Sequoia Capital, the source added. Tether's chief technology officer, Paolo Ardoino, tweeted that it had "no plans to invest in or lend assets to FTX." FTX also got hit by the Bahamas Securities Commission, where the company is based, freezing assets of FTX Digital Markets "and related parties". In a tweet, FTX said it had reached a deal with Tron to establish a special facility that would allow clients to swap some crypto assets from FTX to external wallets. Bankman-Fried told investors that Alameda owes FTX about $10 billion, the Wall Street Journal reported.

☆ A record number of LGBTQ candidates claim victory in another 'rainbow wave'
▼ + stars: | 2022-11-10 | by ( Jo Yurcaba | Jo Yurcaba Is A Reporter For Nbc Out. | ) www.nbcnews.com time to read: +8 min

A record number of LGBTQ candidates won their midterm races this year, creating what some advocates are calling yet another “rainbow wave.”Many races are still too close or too early to call, but as of Thursday afternoon, at least 400 out LGBTQ candidates had won their elections, according to the LGBTQ Victory Fund, which supports queer people running for office. “With so much at stake this election, from the future of marriage equality to abortion, LGBTQ candidates’ grit and exceptional grassroots support is paying off.”National firstsQueer candidates celebrated a number of notable victories and firsts across the country. Alaska is one of four states with zero out LGBTQ state lawmakers, according to the LGBTQ Victory Institute. Magni said the results prove that LGBTQ candidates can successfully compete in both blue and red states. “This is a powerful message, saying, ‘Hey, LGBTQ candidates can win elections and can win elections in many states and many districts across the country.’” he said.

☆ NBA roundup: Bucks, minus Giannis, top Thunder in 2 OTs
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +9 min

Tre Mann added 21 points off the bench. Jaylen Brown scored 30 points, reserve Sam Hauser had 24 on six 3-pointers and Al Horford added 13 for Boston. Anunoby added 27 points, 10 rebounds and three steals for the Raptors, who played without forward Pascal Siakam (groin). Bennedict Mathruin scored 30 points, Tyrese Haliburton had 21 points and 11 assists for the Pacers, who had won four of their previous five games. All five Hornets starters reached double figures in points, led by Terry Rozier with 18 in the team's sixth consecutive loss.

☆ U.S. securities regulator says crypto events underscore industry risks
▼ + stars: | 2022-11-09 | by ( Chris Prentice | ) www.reuters.com time to read: +1 min

WASHINGTON, Nov 9 (Reuters) - The turmoil in the cryptocurrency industry of the last few days underscores the risks inherent in the industry as intermediaries handle so many core functions, the head of the top U.S. markets regulator said on Wednesday. Securities and Exchange Commission (SEC) Chair Gary Gensler used the events of the last few days - centered on concerns over the financial healthy of major cryptocurrency exchange FTX - to emphasize the risks of a crypto industry that has been operating outside of traditional financial markets' oversight. "I've been saying this for well over a year now in this job: come in, get registered, come within the securities laws," Gensler said during a Healthy Markets Association event. Gensler noted risks from the "commingling" of key intermediary functions in the cryptocurrency world, in which the same firms serve multiple roles, such as exchanges and market makers. The SEC, which is investigating FTX's handling of client funds, has ratcheted up scrutiny of the crypto industry under Democratic leadership.

Rep. Chris Pappas defeated Republican Karoline Leavitt in New Hampshire's 1st Congressional District. The 1st District is located in the eastern region of the state. Democratic Rep. Chris Pappas defeated Republican Karoline Leavitt in New Hampshire's 1st Congressional District. 2022 General EmbedsNew Hampshire's 1st Congressional District candidatesPappas, who will serve a second term in the US House, sits on the House Committees on Transportation and Infrastructure and Veterans' Affairs. Voting history for New Hampshire's 1st Congressional DistrictNew Hampshire's 1st Congressional District is located in the eastern region of the state and includes Manchester, the state's largest city, as well as Portsmouth and Laconia.

A representative for FTX did not immediately respond to requests for comment on the deal or the SEC investigation. FTX and Binance did not disclose the terms of their agreement, and markets face fresh uncertainty over whether it will proceed. REUTERS/Dado Ruvic/Illustration 1 2Prior to the Binance proposed deal, Bankman-Fried approached cryptocurrency exchange OKX on Monday morning about a deal, but the exchange declined to move forward. "It has been a truly a devastating year for the industry," said Ryan Wong, a senior researcher at crypto exchange Huobi. "This could be a major source of risk to crypto markets," Lai wrote.

☆ NBA roundup: Celtics set team record with 27 treys
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: +7 min

Every Celtics player who took the court Saturday hit at least one 3-pointer, and they went 27-for-51 on treys. The 27 3-pointers were two more than the previous team record, set against the Philadelphia 76ers on Feb. 15, and two shy of the NBA record, set by the Milwaukee Bucks against the Miami Heat on Dec. 29, 2020. Brown finished with 30 points and Tatum had 26 as the Celtics won both ends of a back-to-back set. Julius Randle scored 29 points and RJ Barrett had 27 for the Knicks, who were also trying to win on back-to-back nights. Terry Rozier scored 25 points and Kelly Oubre Jr. added 18 for the Hornets.

☆ How Diverse Are the Candidates in the Midterm Elections?
▼ + stars: | 2022-11-05 | by ( Maggie Astor | Eleanor Lutz | ) www.nytimes.com time to read: +11 min

The House of RepresentativesThere are at least 403 people of color, women or nonbinary candidates running for seats in the House of Representatives in Tuesday’s midterm elections. Incumbent Democrat Republican White men women Black men women Hispanic men women Other and multiple race men womenThere are 11 Senate candidates who are Black this year. Democrat Black candidates Republican Ga. Raphael Warnock Ala. Will Boyd Ark. Incumbent Democrat Republican White men women Black men women Other and multiple race men womenThere are 25 women nominated for governor — 16 Democrats and nine Republicans. Democrat Black candidates Republican Ala. Yolanda Flowers Ark.

HONG KONG, Nov 5 (Reuters) - U.S. audit watchdog's onsite inspection of the audit work of New York-listed Chinese companies, which started in Hong Kong in September, has ended, three people with knowledge of the matter said, raising hopes of a resolution of a long-pending dispute. The inspection started in Hong Kong after the two countries signed a pact in August to resolve a dispute that threatened to exclude more than 200 Chinese companies, including tech giant Alibaba Group Holding Ltd (9988.HK), from U.S. exchanges. Reuters reported in August that U.S. regulators had picked a number of U.S.-listed Chinese companies, including e-commerce groups Alibaba and Yum China Holdings Inc for onsite audit inspection. U.S. regulators have for more than a decade demanded access to audit papers of U.S.-listed Chinese companies, but Beijing has been reluctant to let U.S. regulators inspect its accounting firms, citing national security concerns. Reporting by Xie Yu and Julie Zhu in Hong Kong; additional reporting by Chris Prentice in Washington; Editing by Sumeet Chatterjee, Louise Heavens and Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

☆ What it feels like to visit a fusion company lab on a day when wildfire smoke cloaks the horizon
▼ + stars: | 2022-11-04 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +13 min

The Helion Energy building under construction to house their next generation fusion machine. For the employees of Helion Energy, building a fusion device is their job. Helion Energy's building under construction to house the seventh generation fusion machine on a day when wildfire smoke was not restricting visibility. On the one hand, I had a newfound sense of hope about the possibility of fusion energy. This is the Polaris Injector Test, where Helion Energy is building a component piece of the seventh generation fusion machine.

Qualcomm (QCOM.O) ended its $44 billion purchase of Dutch peer NXP Semiconductors NV in 2018 after failing to secure regulatory approval. read moreChina's regulators have declined to comment on the DuPont deal and have not provided a reason for the delay in reviewing it. One merger arbitrage fund investor, who declined to be named, said deals involving Chinese approval will be closely watched in the aftermath of the scrapped DuPont-Rogers deal. Shares of some U.S. companies with a significant footprint in China that are waiting to complete deals dropped on Wednesday as a result. Some investors cautioned, however, that the collapse of these deals hinges not just on whether Chinese regulators will withhold clearance but also on whether the acquirers are committed to the transactions.

Nov 2 (Reuters) - The U.S. Securities and Exchange Commission on Wednesday proposed new rules aimed at better preparing the mutual fund industry for distressed market conditions, including a new pricing mechanism that has drawn opposition from fund managers. The market disruptions of March 2020 reinforced the fact that liquidity can deteriorate rapidly, said the SEC, which adopted the proposal in a 3-2 vote. The proposed rule would require mutual funds, and some exchange-traded funds, to ensure that at least 10% of their net assets are highly liquid. The new requirements would also demand a hard daily closing time for mutual funds, and the use of "swing pricing," which involves adjusting a fund's value in line with trading activity so redeeming investors bear the costs of exiting without diluting remaining investors. Mutual funds managed $4.1 trillion, or 63%, of assets held in 401(k) plans at the end of June, as well as $5.1 trillion, or 43%, of IRA assets, according to the Investment Company Institute.

☆ U.S. SEC obtained $6.4 bln from enforcement in fiscal 2022 -chair
▼ + stars: | 2022-11-02 | by ( Chris Prentice | ) www.reuters.com time to read: +1 min

WASHINGTON, Nov 2 (Reuters) - The U.S. Securities and Exchange Commission (SEC) obtained $6.4 billion from enforcement actions, including $4 billion in penalties, in fiscal 2022, the agency's chair Gary Gensler said on Wednesday. The large number of levies - collected in fines, judgments and other fees from about 700 enforcement actions - would mark a record, underscoring the Wall Street regulator's more aggressive stance against corporate wrongdoing under Democratic leadership. The total levied is higher than the previous year's $3.9 billion the SEC obtained from 697 actions and than 2020's record of $4.7 billion across 715 cases, according to a review of SEC's previous enforcement results. Gensler highlighted the SEC's enforcement activity in the year ended September 30 in prepared remarks at a Practicing Law Institute event. The agency is expected to publish its full enforcement report sometime this month.

☆ Jennifer Lawrence says Adele warned her not to do misfire movie ‘Passengers’
▼ + stars: | 2022-11-02 | by ( Dan Heching | ) edition.cnn.com time to read: +2 min

CNN —Rumor has it, Adele isn’t just a great singer – she’s also great at career advice. That is, at least, according to Jennifer Lawrence. Regarding her 2016 movie “Passengers,” which co-starred Chris Pratt and stands as one of the less acclaimed films of her decorated career, Lawrence said, “Adele told me not to do it! “I was like, ‘Oh no, you guys are here because I’m here, and I’m here because you’re here. Wait, who decided that this was a good movie?’” the actress told the Times.

☆ NBA roundup: LeBron James, Anthony Davis lead Lakers to first win
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +6 min

Rookie Jaden Ivey added 15 points in the Pistons' first win since opening night. Stephen Curry topped Golden State with 32 points and Jordan Poole had 30 points. Doncic recorded his sixth consecutive outing of at least 30 points after making 17 of 26 shots from the floor. The Spurs were up by 15 points heading into the fourth quarter before Minnesota pulled to within three early in the period. Keita Bates-Diop scored 18 points for San Antonio, while Tre Jones hit for 10 and Jakob Poeltl grabbed a game-high 14 rebounds.

The pound touched its highest level since Sept. 13, continuing its rally after Rishi Sunak became Britain's prime minister. U.S. new home sales decreased 10.9% and mortgage rates reached their highest level in 20 years last week, data showed. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rallied more than 1%, while Japan's Nikkei (.N225) hit its highest level since Sept. 20. Market participants became cautious after major state-owned banks were spotted selling the dollar on Tuesday to stabilize the market, traders said. U.S. Treasury yields fell, helped by a weaker dollar and Fed hopes.

The U.S. dollar index fell to a five-week low as the pound touched its highest since Sept. 13, continuing its rally after Rishi Sunak became Britain's prime minister. The Dow Jones Industrial Average (.DJI) rose 0.51%, the S&P 500 (.SPX) lost 0.13% and the Nasdaq Composite (.IXIC) dropped 0.97% at 10:37 a.m. EDT (1437 GMT)MSCI's World Stock Index (.MIWO00000PUS) was up 0.36% and touched a five-week high. Europe's Stoxx 600 (.STOXX) also touched a five-week high in choppy trade. Market participants became cautious after major state-owned banks were spotted selling the dollar on Tuesday to stabilize the market, traders said. Elsewhere in commodities, oil prices rose on the weaker dollar and supply concerns.

☆ NBA roundup: Suns overcome heated third quarter, rout Warriors
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +3 min

[1/4] Oct 25, 2022; Phoenix, Arizona, USA; Golden State Warriors guard Klay Thompson waves at the Phoenix Suns bench after being ejected from the game in the second half at Footprint Center. As the Suns were taking advantage of a foul disparity to cling to an 83-77 lead midway through the third quarter, Thompson and Booker were assessed technical fouls for a verbal altercation. Wizards 120, Pistons 99Kyle Kuzma scored 25 points and Kristaps Porzingis added 20 as Washington continued its recent dominance over visiting Detroit. Bojan Bogdanovic scored 25 points to lead Detroit, which has lost three straight following a season-opening win over the Orlando Magic. Tre Mann added 25 points for the Thunder, who were without Josh Giddey (ankle).

☆ Suns vs Warriors: Klay Thompson ejected for first time in career in tempestuous 134-105 Golden State loss to Phoenix
▼ + stars: | 2022-10-26 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

CNN —Star shooting guard Klay Thompson was ejected for the first time in his long NBA career in the Golden State Warriors’ tempestuous 134-105 defeat to the Phoenix Suns on Tuesday. In the third quarter of the chippy loss to the Suns, Thompson and Phoenix’s Devin Booker could be seen exchanging words with one another as tempers flared. According to Booker after the game, Thompson repeatedly gloated to Booker that he had four NBA championship rings as the two bumped chests and went back and forth at each other. The Suns have made it to the NBA Finals three times in franchise history, but have yet to win an NBA title. Booker told the media afterwards that he liked the trash talk, saying the two were “competitors.”“I love Klay Thompson.

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