SEC Proposes Enhancements to Open-End Fund Liquidity Framework

The Securities and Exchange Commission today voted to propose amendments to better prepare open-end funds for stressed conditions and to mitigate dilution of shareholders’ interests. The rule and form amendments would enhance how funds manage their…

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SEC Charges Halal Capital Founder with Multimillion Dollar Fraudulent Scheme that Targeted Muslim Community

The Securities and Exchange Commission today charged Jebara Igbara, the founder of Halal Capital LLC, in connection with a more than $8 million scheme that targeted investors from the New York metropolitan area’s Muslim community. According to the SEC’s…

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SEC Awards $20 Million to Whistleblower

The Securities and Exchange Commission today announced an award of $20 million to a whistleblower who provided new and critical information that led to the success of an enforcement action. In determining the appropriate award amount, the SEC considered…

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SEC Charges Creator of Global Crypto Ponzi Scheme and Three US Promoters in Connection with $295 Million Fraud

The Securities and Exchange Commission today announced charges against Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor, and Jonathan Tetreault for their roles in Trade Coin Club, a fraudulent crypto Ponzi scheme that raised more than 82,000…

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Keith E. Cassidy and Natasha Vij Greiner Appointed Deputy Directors of Division of Examinations

The Securities and Exchange Commission today named Keith E. Cassidy and Natasha Vij Greiner as Deputy Directors of the Division of Examinations. “Our examinations function plays an essential role as the eyes and ears on the ground for the Commission,”…

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SEC Announces Departure of Chief of Staff Prashant Yerramalli and Appointment of Amanda Fischer to the Role

The Securities and Exchange Commission today announced that Chief of Staff Prashant Yerramalli will leave the agency, effective Dec. 31, 2022. Amanda Fischer, currently Senior Counselor to Chair Gary Gensler, will be appointed Chief of Staff, effective…

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Why is the Powerball so Large?

I will admit, a billion dollar prize got my attention,  and my friends and I have been buying tickets. 

But why is the big prize so big? CNN has a theory – its the FED!
It actually makes sense. Keep in mind that no one takes the annuity payout; everyone wants the cash.
But it is that annuity payout that everyone focuses on. So why is it so big? 1.9 BILLION  dollars is a lot of money…if you wait for it.
CNN explains:
$1.9 billion top prize is the amount winners would get, which involves taking 30 equal payments of about $63 million spread out over the next 29 years. Those payments come from an annuity purchased by the lottery sponsors, and the payments factor in an average rate of return.
Interest rates are up, annuity rates are up, lottery payouts are up.
Ok, we get it. But no thanks  like every other lottery winner I’ll take my prize in cash.
https://www.cnn.com/2022/11/05/investing/powerball-record-prize-fed-interest-rates-ctrp/index.html?Type=Store&bt_ee=7qsilqhTznC9Nu9UHtDP0x4A1wUpi0ir9ukA%2FPk1G0Xav6yHZUmN7hz2n%2B62ItPI&bt_ts=1667858784450

SEC Publishes FY22-26 Strategic Plan

The Securities and Exchange Commission today released its Strategic Plan for fiscal years 2022 to 2026, outlining agency objectives to fight against fraud, maintain a robust and relevant regulatory framework, and sustain a skilled and diverse workforce…

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SEC Charges Goldman Sachs Asset Management for Failing to Follow its Policies and Procedures Involving ESG Investments

The Securities and Exchange Commission today charged Goldman Sachs Asset Management, L.P. (GSAM) for policies and procedures failures involving two mutual funds and one separately managed account strategy marketed as Environmental, Social, and Governance…

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SEC Seeks to Stop the Registration of Misleading Crypto Asset Offerings

The Securities and Exchange Commission today instituted administrative proceedings against American CryptoFed DAO LLC (American CryptoFed), a Wyoming-based organization, to determine whether a stop order should be issued to suspend the registration of…

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