On January 5, Attorney General Letitia James filed a lawsuit against Celsius and Alex Mashinsky, the former CEO and co-founder of the cryptocurrency lending platform Celsius Network LLC. The suit alleges that the now-bankrupt company defrauded 26,000 New Yorkers and...
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Month: January 2023
Senate passes AML Whistleblower Improvement Act
The U.S. Senate voted unanimously to approve the Anti-Money Laundering Whistleblower Improvement Act (AMLA) on December 7, 2022. The bill known as S.3316/H.R. 7195 is part of the $1.7 trillion Consolidated Appropriations Act of 2023, an Omnibus spending package that...
U.S. whistleblower law doesn’t protect overseas workers
A three-judge panel at the D.C. Circuit Court of Appeals rejected an appeal by a former Morgan Stanley lawyer based in Asia who claims he was forced to resign. The judges again determined that whistleblower protections enjoyed in the U.S. do not apply to employees...
SEC updates rules on insider trading
On December 14, 2022, the Securities and Exchange Commission (SEC) adopted amendments to rule 10b5-1 under 1934’s Securities Exchange Act. The updates include new disclosure requirements to enhance investor protections and affirmative defense against insider trading...