Wells Fargo has agreed to pay a substantial $35 million civil penalty as part of a settlement with the Securities and Exchange Commission (SEC). The charges were brought against Wells Fargo Clearing Services LLC and Wells Fargo Advisors Financial Network LLC for overcharging over 10,900 investment advisory accounts more than $26.8 million in fees. The …
A cryptocurrency entrepreneur, Richard Heart, who is also known as Richard Schueler, allegedly used proceeds from a $1 billion crypto fraud to purchase the world’s largest black diamond for over $4 million. Heart is the founder of Hex and marketed the ethereum-based Hex token as the first blockchain certificate of deposit. He promised higher …
On The Money has learned that Dick Cashin, the head of One Equity Partners (OEP), is not only dealing with a Securities and Exchange Commission (SEC) investigation but also facing a lawsuit from a recently fired executive at the buyout firm. In an article by the WSJ, it was reported that OEP, which was previously …
Twitter has submitted a subpoena to obtain the communication records of Senator Elizabeth Warren. The request specifically targets her correspondence with the Securities and Exchange Commission (SEC) and the Federal Trade Commission (FTC). Senator Warren wrote a letter to the SEC urging an investigation into Tesla and its potential conflicts of interest following CEO Elon …
In a compelling turn of events, a blank-check firm that was on the verge of merging with former U.S. President Donald Trump’s media company, and currently under regulatory scrutiny, has reached a preliminary agreement with the Securities and Exchange Commission (SEC). This agreement, however, is still pending the SEC’s official approval and is not yet …
The Securities and Exchange Commission (SEC) has filed lawsuits against two of the largest cryptocurrency exchanges globally — Binance and Coinbase. The lawsuits led to billions being slashed from the net worth of both CEOs. Bloomberg reported that over the past two days, Binance CEO Changpeng Zhao’s wealth dipped by $1.4 billion to $26 billion, …