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Morningstar weighs in on FTC hearings on common ownership

Morningstar has submitted comments on recent Federal Trade Commission hearings on the impact of common ownership by asset managers. Some academics have contended that common ownership by large asset managers, which occurs when equity is held in competing companies, leads to

Morningstar weighs in on FTC hearings on common ownership

Morningstar has submitted comments on recent Federal Trade Commission hearings on the impact of common ownership by asset managers. Some academics have contended that common ownership by large asset managers, which occurs when equity is held in competing companies, leads to

Papa John’s must allow ousted founder to inspect company documents

Court finds that Schnatter did not want documents for personal reasons. Documents can include emails and text messages, but must deal with changing Schnatter’s relationship with the company.

Unregistered brokers who sold Woodbridge securities must pay over $6 million in disgorgement, penalties

Five Florida-based defendants charged in connection with a scheme to unlawfully sell securities of the Woodbridge Group of Companies LLC to retail investors even though they were not registered as broker-dealers and were not permitted to sell securities, have all consented t

SEC charges Ukrainian hacker and various traders in connection with misappropriating EDGAR data

The SEC brought a five-count complaint in federal court in the District of New Jersey against nine defendants for participating in a scheme to hack into the SEC’s EDGAR system and extract nonpublic information to use for illegal trading. Specifically, the agency charge

NASAA reminds securities industry that state regulators are open during federal government shutdown

The North American Securities Administrators Association (NASAA) said that state securities regulators remain open during the federal government shutdown, which has impacted the ability of the SEC to provide its full range of services. The SEC implemented its shutdown plan i

Pair of Bitcoin trusts file registrations seeking to overcome regulatory hurdles to ETPs, other offerings

Bitwise Asset Management filed a registration statement for Bitwise Bitcoin ETF Trust that, if a soon-to-be-filed exchange rule change proposal is approved by the SEC, would allow it to operate a Bitcoin exchange traded fund (ETF). Although the filing potentially faces an up

European Securities and Markets Authority urges adoption of common EU approach for crypto-assets

The European Securities and Markets Authority (ESMA) provided additional guidance to EU institutions in connection with initial coin offerings (ICO’s) and crypto-assets in a 49-page Advice report. The Advice addresses two broad categories of crypto-assets&mda

House passes stand-alone bill funding SEC, CFTC as president walks out on talks with Congressional leaders

After a nearly three-week federal government shutdown, including at the SEC and the CFTC, due to a lapse in appropriations, the Democrat-controlled House has passed legislation (H.R. 264), the stand-alone financial services and general government appropriations bill, that wo

Directors have broad, presumptive right to see books and records

An Illinois appellate court issued a rare decision on a director’s right to inspect corporate books, determining that while the rule for shareholder access has been statutorily modified over the years, a director’s right is still rooted in common law. C

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