Gary Gensler – The News Desk

Legal Hurdles Stack Up for Gensler’s SEC

12Dec

By adminNo Comments

Money

Legal Hurdles Stack Up for Gensler’s SEC

Dec. 12, 2023 12:39 pm ETWASHINGTON—Gary Gensler is facing a growing number of legal challenges as the Securities and Exchange Commission chair moves forward with wide-reaching efforts to squeeze Wall Street for the benefit of investors and companies.A group of hedge funds sued the SEC on Tuesday in hopes of overturning a pair of recent rules requiring more disclosures around short selling and securities lending. The case was filed in the same conservative appeals court that looks set to kill another SEC rule aimed at getting investors more information about public companies’ share repurchases.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Binance Copped a $4 Billion Plea but Is Still Fighting the SEC

4Dec

By adminNo Comments

Money

Binance Copped a $4 Billion Plea but Is Still Fighting the SEC

WASHINGTON—When top Biden administration officials gathered last month at the Justice Department to announce a $4.3 billion legal resolution with Binance, one powerful regulator was absent.Attorney General Merrick Garland was there. So was Treasury Secretary Janet Yellen. But Securities and Exchange Commission Chair Gary Gensler wasn’t, even though he has his own legal beef with Binance. The SEC sued the world’s largest cryptocurrency exchange in June and has been the regulatory scourge of the crypto world.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

27Nov

By adminNo Comments

World

Team ESG Gets a Pass From the SEC

Nov. 27, 2023 11:15 am ETYour editorial “Proxy Advisers and Double Standards” (Nov. 16) chides Securities and Exchange Commission Chairman Gary Gensler for ignoring a report documenting material mistakes in voting recommendations to investment managers by two dominant proxy-advisory firms. Those two firms, Glass Lewis and Institutional Shareholder Services, are reliable supporters of environmental, social and governance (ESG) initiatives and are likely to get a pass from the progressive head of the SEC.It isn’t surprising that the proxy-advisory duopoly also gets little pushback from asset managers buying their services. Investment professionals who are chartered financial analysts are inundated with materials from the CFA Institute that promote “principles for responsible investing” (in ...

16Nov

By adminNo Comments

Business

Proxy Advisers and Double Standards

Gary Gensler has brought down the hammer on public companies that have allegedly misled investors. But when proxy advisers have done the same, the Securities and Exchange Commission Chairman looks the other way, as a new report by the American Council for Capital Formation (ACCF) documents.Glass Lewis and Institutional Shareholder Services provide asset managers, pension funds and university endowments with recommendations on how to vote on corporate proxy resolutions. They can assist institutional investors that lack in-house resources to conduct due diligence before voting on thousands of ballot measures. Together they make up about 90% of the proxy advisory market, and it’s a profitable business.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c...

4Nov

By adminNo Comments

World

Sam Bankman-Fried and the SEC

Sam Bankman-Fried charmed investors and politicians, but he wasn’t so fortunate with a federal jury. On Thursday the former FTX crypto-exchange kingpin was convicted of seven counts of fraud and money-laundering. Note to Chairman Gary Gensler: The Securities and Exchange Commission doesn’t need to regulate crypto markets to police malfeasance.After FTX imploded last autumn, some $9 billion in customer deposits went missing. Prosecutors showed that Mr. Bankman-Fried used the money to fund risky investment bets and cover losses at his Alameda Research trading house, buy influence in Washington, and acquire real estate in the Bahamas. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

2Nov

By adminNo Comments

Health

Gary Gensler and the SEC Lose Again

Is Gary Gensler ever going to win a case? On Tuesday the Fifth Circuit Court of Appeals handed the Securities and Exchange Commission Chairman another legal defeat by scuttling the agency’s stock-buyback rule (U.S. Chamber of Commerce v. SEC.)The SEC in May finalized a rule requiring public companies to disclose their daily share repurchases and the reason for buying back their stock. Mr. Gensler claimed companies might buy back their stock to boost executive compensation, which is sometimes tied to accounting metrics such as earnings per share. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

27Oct

By adminNo Comments

Health

If It Moves, the SEC Regulates It

Warren says jump on short-selling, Gary Gensler says how high?

14Oct

By adminNo Comments

World

What is Gary Gensler Hiding?

The Securities and Exchange Commission duns companies for internal blunders and disclosure lapses that don’t harm investors. Yet now Chairman Gary Gensler is refusing to come clean about the agency’s own internal data breach and possible staff misconduct.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8