Tag: SEC

New Evidence Turned over to Congress Disputes Hunter Biden Testimony About Controversial Firm

Just the News
Hunter Biden in front of US Capitol building (composite image)

Already accused of lying to Congress about other issues, Hunter Biden’s February impeachment inquiry testimony distancing himself from a controversial securities firm directly conflicts with evidence the FBI seized years ago, including his signature on an employment contract that made him the firm’s vice chairman.

The documents were gathered by FBI and SEC agents back in 2016 and were recently obtained by Congress and shared with Just the News, but not until after Hunter Biden had already given his deposition in February to the U.S. House as part of his father’s impeachment inquiry.

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Supreme Court to Consider Whether Agency’s In-House Trials Violate the Constitution

Michigan Star Staff

The Supreme Court will consider next week whether the Securities and Exchange Commission’s (SEC) use of in-house judges violates the right to a jury trial guaranteed in the Seventh Amendment.

Congress empowered the SEC to use its own in-house administrative law judges (ALJs) to try cases brought by agency enforcement when it passed the Dodd-Frank Act following the 2008 financial crisis. George R. Jarkesy, who has been caught in the SEC’s administrative proceedings since the agency charged him with fraud relating to his investment activities in 2013, challenged that grant of power as unconstitutional.

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Commentary: Mounting Evidence That ‘Net-Zero’ Carbon Emissions Isn’t Achievable

Michigan Star Staff
Power Plant

Arizona State University President Michael Crow believes we are in such danger that we should amend the U.S. Constitution to empower the government to deal more expansively with climate change. Crow’s view that constitutional protections of our liberties should be eliminated when they become inconvenient wouldn’t square with the founders, but his estimate of the dangers and required remedies for our changing climate are quite mainstream in our society.

“Net zero by 2050” has become an article of faith among our corporate and academic elites, no longer requiring proof or intellectual defense. The notion that we must eliminate or “offset” all carbon emissions by mid-century if we want to save the planet is the organizing principle for ESG investing. ESG is the consideration of environmental issues, social issues, and corporate governance issues when deciding what companies to invest in. In 2022, it was mentioned more than 6000 times in corporate filings with the Securities and Exchange Commission.

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Proposed SEC Climate Disclosure Rule Will Add Costs That Consumers Will Bear, Critics Warn

Just the News

The Securities and Exchange Commission’s (SEC) has been slammed with comments from supporters and critics of its proposed climate disclosure rule.

The release of the final rule has been continually delayed, but its publication is anticipated in the next few months. Congressional Democrats are urging for it to be done sooner rather than later.

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Appeals Court Shoots Down Challenges to Nasdaq Rule Requiring Companies to Have at Least Two ‘Diverse’ Board Members

Michigan Star Staff

A federal appeals court rejected challenges Wednesday to a Nasdaq rule mandating that companies listed on the exchange have a female and an underrepresented minority on their board, or explain why they cannot meet the requirement.

The Fifth Circuit Court of Appeals shot down lawsuits filed by the National Center for Public Policy Research and the Alliance for Fair Board Recruitment against the Securities and Exchange Commission (SEC) for approving the rule in August 2021. The rule requires Nasdaq-listed companies to provide information on gender, racial and LGBTQ+ status of their board of directors, mandating that at least two board members fall into one of those “diverse” categories.

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For Years, Feds Received Waves of Warnings About Hunter Biden but Delivered No Consequences

Just the News

From 2015 until present, several federal agencies were alerted to suspicious activity and potential criminal activities by Hunter Biden, President Joe Biden’s son. Each time, the allegations did not result in any consequences for the first son.

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Early Warning: Feds Alerted to Whistleblower Concern over Hunter Biden Business Deals in 2015

Just the News

Banking whistleblowers first began raising alarms about Hunter Biden’s business deals as long ago as Spring 2015 while his father was still serving as vice president, flagging what they feared were “suspicious” transactions and “fraudulent” schemes. One of the bankers became so concerned he eventually escalated his concerns to the U.S. Securities and Exchange Commission (SEC) only a few days before Donald Trump won the presidency in 2016, according to documents provided to Congress and obtained by Just the News.

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Consumer Goods Giant 3M Fined More than $6.5 Million for Wooing Chinese Government Officials with Overseas Trips

Just the News

The consumer goods company 3M agreed to pay more than $6.5 million to resolve charges that it violated the Foreign Corrupt Practices Act after its China-based subsidiary took Chinese government officials on overseas trips in an attempt to convince them to purchase 3M products, the U.S. Securities and Exchange Commission (SEC) said.

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General Motors to Offer Buyouts of U.S. Employees

The Center Square

General Motors announced Thursday it’s offering voluntary buyouts to some salaried U.S. employees.

The automaker is looking to cut $2 billion in fixed costs by 2024 as the company transitions its manufacturing operations to produce electric vehicles.

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SEC Charges Eight ‘Social Media Influencers’ with Securities Fraud

Just the News

The Securities and Exchange Commission on Wednesday announced charges against eight “social media influencers” in what the agency said was a coordinated effort to manipulate stocks via multiple Internet platforms. 

The agency said in a press release those charged where involved in a $100 million securities fraud scheme in which they used the social media platforms Twitter and Discord to “manipulate exchange-traded stocks.”

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Commentary: Expect Big Pivot from SEC to Require Climate, ESG Disclosures in Investor Filings

RealClearWire

The biggest decision the Securities and Exchange Commission (SEC) is likely to make this year will be on mandated disclosure of information related to climate change and corporate environmental, social, and governance (ESG) goals. The Commission has been working on the issue since early last year, and a new proposed rule is now scheduled to be released on March 21st. The contents of that rule will likely determine the future direction of “responsible” investing in the United States.

In March of last year, then-Acting Chair Allison Herren Lee issued a request for information on the matter, consisting of 15 questions and described as a response to the “demand for climate change information and questions about whether current disclosures adequately inform investors.” The questions covered a wide range of topics, from how to measure greenhouse gas emissions to how climate disclosures “would complement a broader ESG disclosure standard.”

When the SEC first issued guidance on climate change-related disclosures for public companies in 2010, the standards were fairly general and advisory, but the questions from last year’s request-for-information suggests that the agency’s leadership is considering a more aggressive and prescriptive framework.

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Securities and Exchange Commission to Crack Down on Private Companies, Heighten Disclosure Requirements

Michigan Star Staff
Securities and Exchange Commission building

The Securities and Exchange Commission (SEC) plans to crack down on private companies, forcing them to disclose financial and operation statements more frequently, The Wall Street Journal reported.

Regulators have grown more concerned over the lack of oversight regarding private fundraising for companies, the WSJ reported. The private investment market has become a popular way for companies to raise money without undergoing the regulatory scrutiny required for public trading.

“When they’re big firms, they can have a huge impact on thousands of people’s lives with absolutely no visibility for investors, employees and their unions, regulators, or the public,” SEC Commissioner Allison Lee told the WSJ. “I’m not interested in forcing medium- and small-sized companies into the reporting regime.”

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Facebook Employees Actively Censored Conservative Websites, Even in Defiance of Managers

Michigan Star Staff
Facebook logo with smartphone showing lock in front

A series of new leaks from Big Tech giant Facebook has revealed even more bias against conservatives from the company’s employees, even to the point of causing internal debates between employees and upper management, according to the New York Post.

The latest leaks come from message board conversations reviewed by the Post, which showed back-and-forth discussions within Facebook about how to deal with conservative news outlets during last year’s race riots by far-left domestic terrorist organizations such as Black Lives Matter and Antifa.

Some employees expressed their desire to completely remove sites such as Breitbart from Facebook’s “News Tab” feature. When one such employee asked a manager about doing so, the manager responded by pointing out that “we saw drops in trust in CNN 2 years ago,” before rhetorically asking “would we take the same approach for them too?”

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Another Whistleblower Files SEC Complaint Alleging Facebook Didn’t Do Enough About ‘Hate Speech’, ‘Misinformation’

Admin
Person looking on Facebook with trending topics

Another former Facebook employee filed a whistleblower complaint Friday with the Securities and Exchange Commission alleging that the tech giant misled its investors by failing to combat the spread of hate and misinformation on its platform, The Washington Post reported.

The former employee, whose name is not yet public, alleged that Facebook executives chose not to pursue adequate content moderation policies related to hate speech and misinformation for the sake of maximizing profits. The complaint also alleges that Facebook did not do enough about alleged Russian misinformation on the platform for fear of upsetting former President Donald Trump.

In particular, the complaint alleges that Trump and his associates received preferential treatment, according to the Post.

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ACC, SEC and Big 12 Plan to Play College Football This Fall While Big Ten and Pac 12 Sit on Bench

Jacob Taylor

The Atlantic Coast Conference (ACC), along with the Southeastern (SEC) and Big-12 conferences, is sticking with its plan to play football in the fall.

After the Big Ten and Pac 12 conferences postponed its football seasons on Tuesday, the ACC released a statement online that emphasized an established plan of listening to advice from authorities and medical experts as well as making adjustments in necessary.

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Loeffler Turns Over Documents to SEC, DOJ Over Stock-Trading

Michigan Star Staff

Republican Georgia Sen. Kelly Loeffler has turned over documents related to controversy over her stock-trading to the Securities and Exchange Commission, the Department of Justice and the Senate Ethics Committee, according to Politico.

The documents she submitted show that both she and her husband Jeffry Sprecher “acted entirely appropriately and observed both the letter and the spirit of the law,” a spokeswoman for Loeffler said in a statement to the Daily Caller News Foundation.

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