News

Regulation

New SEC Task Force to Police Climate Disclosure

“Climate risks and sustainability are critical issues for the investing public and our capital markets,” Acting Chair Allison Herren Lee says.

Matthew Heller
March 5, 2021
Regulation

Biden’s SEC Pick Warns of Crypto Fraud Risks

The SEC must ensure that crypto markets "are free of fraud and manipulation,” Gary Gensler told the Senate Banking Committee.
Fraud

Seven Accused of $45M Pump-and-Dump Fraud

Kelly Kabilafkas allegedly orchestrated a fraud that culminated in him and his associates dumping shares in Airborne Wireless Network.
Bankruptcy

Texas Power Co-op Files Chapter 11 After Storm

Brazos Electric says the winter storm that devastated Texas left it in “a liquidity trap that it cannot solve with its current balance sheet.”
The Economy

Consumer Spending Rebounds With 2.4% Gain

“Government checks did their work, as both income and spending increased dramatically in January."
Regulation

SEC to Update Rules on Climate Risk Disclosure

“Now more than ever, investors are considering climate-related issues when making their investment decisions,” Acting Chair Allison Herren Lee says.
Credit

Rare Outage Takes Fed Payment Systems Offline

Fedwire and FedACH were among the key systems affected by the outage, which the Fed blamed on an "operational error."
The Economy

U.S. Manufacturing Hits 3-Year High in February

“Manufacturing is doing well but it will not be smooth sailing over the next few months", in part because of supply-chain disruptions.
People

GameStop Stock Soars After CFO Resigns

Jim Bell reportedly was forced to resign as part of a push by activist investor Ryan Cohen to "reshape the ailing retailer.”
Credit

Bank Profits Rise 9% to $59.9B in 4th Quarter

“Banks remained resilient in fourth quarter 2020, consistent with the improving economic outlook,” the FDIC says.
Governance

Kohl’s Rejects Activists’ Push for Board Shakeup

“The board has failed to help develop and oversee a strategic plan to respond to a rapidly-changing retail landscape,” the investors said.
Tax

Tech Groups Sue Maryland Over Online Ad Tax

The tax on the revenue from digital advertising services provided in Maryland is an "extraordinarily severe form of exaction," the suit says.
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