Earnings season is here

 From CNN:

https://www.cnn.com/2022/01/14/investing/premarket-stocks-trading/index.html

Tech stocks have been plunging as Wall Street obsesses over the Federal Reserve’s next moves and how aggressively it will hike borrowing costs over the next 12 months to rein in inflation.

But attention could soon shift elsewhere as corporate earnings season arrives, delivering a distraction from the economy and the unknowns that lie ahead.
What’s happening: S&P 500 earnings are expected to have increased by 22.4% compared to the previous year during the final three months of 2021, according to Refinitiv. That would be a strong showing.
    In a note to clients on Friday, UBS said that despite a volatile start to the year, it does not think a more hawkish Fed will “derail” the stock market rally, and that earnings season will “turn investor attention back to robust fundamentals.”

      How Many FINRA Enforcement Lawyers Does It Take To Prosecute A Default Case?

      Bill Singer posts about the overkill by FINRA Enforcement in obtaining a default order against an 89 year old registered representative who had been out of the business for 17 months.

      No one disputes FINRA’s need to sanction those who do not make timely disclosures on their CRD filings, but “Four Enforcement attorneys, one OHO Hearing Officer, pre-hearings, an Order to Show Cause, a show-cause hearing, a default hearing, a DEFAULT DECISION, and a raging Covid pandemic — and all of that to go after an 89-year-old Respondent who had been in our biz since 1970 and was last terminated in July 2020.”

      Bill has a point.

      SEC Issues Awards Totaling More Than $4 Million to Two Whistleblowers

      The Securities and Exchange Commission today announced two awards totaling more than $4 million to whistleblowers who provided information and assistance in two separate covered actions. In the first order, the SEC issued an award of approximately $2.6…

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      SEC Charges Three Florida Residents in Multi-Million Dollar Insider Trading Scheme

      The Securities and Exchange Commission today announced charges against three Florida residents for trading in advance of market moving announcements involving DSW Inc., Rite Aid Corporation, and an attempt to acquire Aphria Inc., a Canadian cannabis-…

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      Chair Gensler Announces Additions to Executive Staff

      The Securities and Exchange Commission today announced the appointments of Corey Frayer, Phil Havenstein, Jennifer Songer, and Jorge Tenreiro to Chair Gary Gensler’s executive staff. “Corey, Phil, Jenny, and Jorge have exceptional experience,” said…

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      SEC Proposes Amendments to Money Market Fund Rules

      The Securities and Exchange Commission today voted to propose amendments to certain rules that govern money market funds under the Investment Company Act of 1940. In March 2020, growing economic concerns about the impact of the COVID-19 pandemic led…

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      SEC Charges Clinical Drug Trial Investigator with Insider Trading

      The Securities and Exchange Commission today announced charges against Daniel V.T. Catenacci for insider trading in the securities of biotechnology company Five Prime Therapeutics, Inc. in advance of the company’s November 10, 2020 announcement that it…

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      SEC Charges Five Russians in $80 Million Hacking and Trading Scheme

      The Securities and Exchange Commission today announced fraud charges against five Russian nationals for engaging in a multi-year scheme to profit from stolen corporate earnings announcements obtained by hacking into the systems of two U.S.-based filing…

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      SEC Proposes Rules to Prevent Fraud in Connection With Security-Based Swaps Transactions, to Prevent Undue Influence over CCOs and to Require Reporting of Large Security-Based Swap Positions

      The Securities and Exchange Commission today voted to propose rules to prevent fraud, manipulation and deception in connection with security-based swaps, to prevent undue influence over the chief compliance officer (CCO) of security-based swap dealers…

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      SEC Approves 2022 PCAOB Budget and Accounting Support Fee

      The Securities and Exchange Commission today voted to approve the 2022 budget of the Public Company Accounting Oversight Board (PCAOB) and the related annual accounting support fee. “Finance is about trust, and the PCAOB has a critical role to play in…

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