SEC
US SEC settles with ICBC unit over ransomware attack, imposes no fine
The US Securities and Exchange Commission decided against a fine in light of the ICBC unit's "meaningful cooperation and extensive remedial measures." It also said the causes of the attack included inadequate preparation for a potentially severe cybersecurity incident.
US SEC has indicted Adani, but India's SECI has favoured it hugely: Congress
Congress accuses SECI of favoring Adani Group as Adani Green has not supplied the contracted 3 gigawatts of electricity to Andhra Pradesh. Despite delays, SECI allowed Adani to sell power on exchanges at higher rates. Allegations include a bribery scheme involving USD 265 million to win profitable solar contracts. Adani Group denies all accusations.
Fitch downgrades Azure Power U.S. dollar bond outlook to negative amid Adani bribery probe
Fitch downgraded Azure Power Energy¡¯s outlook to "negative" amid ongoing bribery investigations and governance issues, citing heightened refinancing risks and delayed financial disclosures.
Bitcoin up as Cryptophiles vie to head regulators
The president-elect has vowed to undo a crackdown on digital assets imposed by the Biden administration and instead foster industry growth, including setting up a national Bitcoin stockpile. The Republican's pledges ignited a wave of optimism that lifted the token to within a whisker of a record $100,000 last week, before the mood turned cautious as traders awaited concrete steps.
Charges against Adani in bribery case can be withdrawn if deemed unworthy after Trump takes over as President
Gautam Adani's bribery case may be dropped if Trump wins. Attorney Ravi Batra suggests Trump's administration could view the case as "lawfare". Trump's new Justice Department and SEC could withdraw charges. The case involves alleged bribes to Indian officials and misleading US investors. Trump's appointments will impact the case's future.
Gautam Adani's US bribery indictment: What you need to know
Indian billionaire Gautam Adani and seven others have been indicted by U.S. prosecutors for an alleged $265 million bribery scheme involving Indian officials. The "Corrupt Solar Project" charges relate to power supply deals, impacting Adani Group's global infrastructure projects. The company denies the allegations, but the scandal has triggered investigations, stock declines, and project cancellations worldwide.
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Adani case raises issue of extraterritorial application of American laws: Attorney
Gautam Adani and seven others, including his nephew, face a USD 265 million bribery charge in the US. Indian-American attorney Ravi Batra raises concerns about the extraterritorial application of US law. The indictment alleges conspiracies to commit securities and wire fraud, impacting US investors and global financial institutions. Adani and others must respond to the charges within 21 days.
Adani Green Energy shares fall 8% after Co. says no new financial commitment under discussion with TotalEnergies
Adani Green Energy share price: Adani Green Energy shares dropped 8% after clarifying no new financial commitments with TotalEnergies amid ongoing US allegations. TotalEnergies paused investments until clarity on charges against Adani Group officials.
Adani¡¯s legal troubles may worsen with risk of investor lawsuits
Indian billionaire Gautam Adani faces US criminal charges and SEC action for alleged bribery, triggering potential investor lawsuits and investigations in India. While criminal proceedings hinge on extradition, civil penalties, director bans, and market restrictions are possible. Although a new US administration could dismiss charges, the severity of the allegations makes such a move unlikely.
US charges may slow Adani Group¡¯s fundraising plans
Domestic banks and financial institutions, which are the largest creditors of the Adani Group with close to Rs 95,000 crore, or 42%, of its total Rs 2.58 lakh crore debt, are likely to look at any fresh exposure to the group with caution.
G-Sec yields harden as inflation stays high, rupee slides
September saw record lows after the US Federal Reserve delivered a hefty 50 basis point rate cut, causing a softening of US Treasury yields, along with milder domestic bond yields and a stronger rupee. During September US T-bill yields saw a low of 3.64%.
Gautam Adani, nephew summoned by US SEC in $265 million bribery case
The US Securities and Exchange Commission (SEC) has summoned Gautam Adani and Sagar Adani, alleging a $265 million bribery scheme to secure solar power contracts. The SEC claims Adani Green Energy Ltd misled investors about its anti-corruption practices while raising funds. The Adani Group denies wrongdoing and plans to pursue legal action.
US judge rejects SEC bid to sanction Elon Musk
A federal judge declined the U.S. Securities and Exchange Commission's request to sanction Elon Musk for missing court-ordered testimony in an investigation related to his Twitter acquisition. The judge deemed sanctions unnecessary because Musk later testified and covered the SEC's travel expenses.
US judge rejects SEC bid to sanction Elon Musk
A federal judge declined the U.S. Securities and Exchange Commission's request to sanction Elon Musk for missing court-ordered testimony in a Twitter probe. The judge deemed sanctions unnecessary because Musk later testified and covered the SEC's travel expenses. The SEC is investigating potential securities law violations related to Musk's Twitter stock acquisition.
'Damaging' Andhra Brand: Chandrababu Naidu promises action over Adani Group's US bribery case
Former Andhra Pradesh Chief Minister Chandrababu Naidu pledged to act on bribery allegations against the previous administration and the Adani Group. The US SEC alleges kickbacks were offered to secure a solar power deal. Naidu acknowledged the damage to the state's reputation and vowed to prevent future occurrences.
Individuals linked to Adani bribery case associated with Congress, alleges Andhra BJP chief
Andhra Pradesh BJP president D Purandeswari claims that individuals allegedly involved in the Adani Group bribery case are linked to the Congress party. She highlights alleged connections between Adani and Congress figures, and points to Power Sale Agreements signed during the terms of governments she claims were close to the Congress as potentially related to the allegations.
How Indian billionaire Gautam Adani's alleged bribery scheme took off and unraveled
Indian billionaire Gautam Adani and associates are facing U.S. charges for allegedly orchestrating a multi-million dollar bribery scheme to secure a solar energy contract. Authorities allege Adani bribed local Indian officials to ensure the purchase of solar power, misleading U.S. investors in the process. The alleged scheme, spanning several years, involved falsified documents and hidden transactions during fundraising efforts.
Adani bribery probe: US SEC led by two officers of Indian origin
Sanjay Wadhwa, who leads the US SEC's enforcement division, is investigating bribery allegations against the Adani family. Wadhwa, promoted in October, has extensive experience in securities law enforcement. The complaint, filed by Tejal Shah, alleges Adani bribed officials to secure power generation contracts.
Adani Group faces funding challenges and halted projects following SEC charges
The US Securities and Exchange Commission (SEC) has charged Gautam Adani and seven others with bribery and fraud, impacting the Adani Group's fundraising abilities. The charges led to Adani Green Energy canceling a $600 million bond offering and caused a decline in group company bond values.
Long way before charges against billionaire Gautam Adani are framed
The US Department of Justice has indicted billionaire Gautam Adani and seven others on charges of bribery, fraud, and obstruction of justice. The indictment alleges a scheme to bribe Indian officials and defraud US investors. Adani maintains his innocence, and the case will now proceed to trial.
US SEC chief Gensler to step down on Jan. 20
SEC Chair Gary Gensler, known for his ambitious agenda to regulate Wall Street and the crypto industry, will step down on January 20th. During his tenure, Gensler oversaw new rules to boost transparency and reduce risks in financial markets, as well as enforcement actions against firms using unauthorized communication channels and cryptocurrency exchanges.
Azure Power responds to US SEC allegations of bribery involving Adani Green
Hours after U.S. prosecutors charged Indian billionaire Gautam Adani and seven others, including former Azure Power officials, in an alleged bribery scheme related to a renewable energy project in India, Azure Power issued a statement reaffirming its commitment to strong governance standards.
Bitcoin nears $90,000 as Trump victory fuels surge: what's driving the rally?
The largest and most popular cryptocurrency has seen a massive rally during election week as results favoured Republicans, more than doubling from the year's low of $38,505. It was last trading at $87,079.
The crypto industry spent more than $130 million on the election; it paid off
The crypto industry treated this year's election as a pivotal moment, spending tens of millions of dollars to support candidates who favored softer regulations for the sector.
US SEC gives green light for options listing for spot bitcoin ETFs to NYSE
The Securities and Exchange Commission (SEC) had in January approved the bitcoin ETFs to track bitcoin, in what was a watershed for the world's largest cryptocurrency and the broader crypto industry.
FBI arrests man over SEC hack, alleging bitcoin manipulation
In January, a hacker posted false news on the SEC's @SECGov X social media account announcing the agency had approved bitcoin exchange-traded funds, causing the price of the cryptocurrency to spike. The agency quickly disavowed and deleted the post.
Crypto.com sues US SEC after receiving legal threat from regulator
A cryptocurrency trading platform has filed a lawsuit against the SEC for allegedly overstepping its jurisdiction by regulating the crypto industry. The suit claims that the SEC unlawfully expanded its reach, declaring nearly all crypto assets as securities. The case also names SEC Chair Gary Gensler and other commissioners.
SEC appeals decision that restricted its crypto oversight
The U.S. SEC is appealing a court ruling limiting its power to regulate cryptocurrency. The decision involved Ripple Labs' XRP token, impacting $757 million in sales deemed not securities. Another $728 million in sales to institutional investors must follow securities laws. Ripple faces a potential $125 million fine.
US SEC, Coinbase clash in court over crypto rulemaking
Coinbase, the largest U.S. crypto exchange, sued the Securities and Exchange Commission last year in an effort to compel the regulator to act on a petition for rulemaking it filed in 2022. In that petition, it urged the SEC to provide clarity on the circumstances under which a digital asset is a security and create a new market structure framework that is compatible with cryptocurrencies.
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