Lawmakers Use Ripple Ruling To Tout Bills, Slam SEC
By Aislinn Keely
In the days following the closely read decision that Ripple's XRP token is
not always a security, mostly Republican lawmakers called on the U.S.
Securities and Exchange Commission to take a new approach to regulating the
industry and touted their own legislative proposals as solutions in line
with a New York federal judge's ruling.
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https://www.law360.com/capitalmarkets/articles/1701453?nl_pk=8da16ff7-f140-…
Pension Fund Says It Lost $33.6M Over Pharma Co.'s Actions
By Sydney Price
In its bid to lead a proposed class action, an Ohio pension fund told a
Massachusetts federal court it lost nearly $34 million on its shares of
pharmaceutical company Charles River Laboratories, which faced a U.S.
Department of Justice investigation over claims it concealed its
involvement in the illegal importation of nonhuman primates.
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https://www.law360.com/capitalmarkets/articles/1701213?nl_pk=8da16ff7-f140-…
SEC's Gensler Calls CFTC 'Not As Robust' On Crypto
By Jessica Corso
U.S. Securities and Exchange Commission Chair Gary Gensler told a Senate
panel Wednesday that the U.S. Commodity and Exchange Commission's authority
over the crypto industry is "frankly not as robust" as his agency's own and
called for more money to oversee a space he said was "rife with fraud."
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https://www.law360.com/capitalmarkets/articles/1700507?nl_pk=8da16ff7-f140-…
Israeli Beauty Company Prices Upsized $424M IPO
By Jade Martinez-Pogue
Israeli beauty and wellness products company Oddity Tech Ltd. on Wednesday
announced that it priced its upsized initial public offering after raising
$424 million, which is significantly more than the expected $347 million
that was announced Monday.
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https://www.law360.com/capitalmarkets/articles/1701394?nl_pk=8da16ff7-f140-…
Bain Capital Closes $1.15B Inaugural Insurance Fund
By Al Barbarino
The insurance investing business of Bain Capital said Wednesday it held the
final close of its inaugural private equity fund, Bain Capital Insurance
Fund LP, at $1.15 billion, well above its initial target of $750 million,
with guidance from Debevoise & Plimpton LLP.
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https://www.law360.com/insurance/articles/1701719?nl_pk=710b6860-f64b-4b2d-…
Insurer Can't Duck Bad Faith Claim In Construction Flaw Row
By Alexa Scherzinger
A contractor's claim that its insurer acted in bad faith when denying $10.5
million in rectification coverage for concrete construction flaws can
remain, a Maryland federal judge ruled, finding the insurer's delay in
processing the claim was a sufficient basis for a bad faith allegation.
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https://www.law360.com/insurance/articles/1701119?nl_pk=710b6860-f64b-4b2d-…
New DC Suit Aims To Make Hunter Biden Register Under FARA
By Katie Buehler
A right-wing legal organization has slapped the U.S. Department of Justice
with claims that it failed to require President Joe Biden's son, Hunter
Biden, to register under the Foreign Agents Registration Act, despite
allegedly knowing for years that he worked on behalf of Ukrainian and
Chinese companies.
Complaint attached | Read full article » | Save to favorites »
https://www.law360.com/banking/articles/1701364?nl_pk=99a2a594-20ad-4b2f-a2…
3rd Circ. Takes Up Trustee Appeal Over FTX Ch. 11 Examiner
By Vince Sullivan
The Third Circuit on Wednesday accepted a direct appeal in the case of
cryptocurrency exchange FTX Trading Ltd., saying the Office of the United
States Trustee could bring its case to the circuit court over a Delaware
bankruptcy judge's denial of appointment of a Chapter 11 examiner.
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https://www.law360.com/banking/articles/1701700?nl_pk=99a2a594-20ad-4b2f-a2…
Sterling Bancorp Sentenced To Pay $27M For Securities Fraud
By Danielle Ferguson
Michigan-based Sterling Bancorp Inc. was sentenced by a federal judge
Wednesday to pay more than $27 million in restitution for fraudulently
handing out loans and for filing false securities statements that boosted
its reported revenue ahead of its 2017 initial public offering.
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https://www.law360.com/banking/articles/1701357?nl_pk=99a2a594-20ad-4b2f-a2…
CFPB's Chopra Keeps Focus On Junk Fees Even As They Fall
By Jon Hill
More than 18 months into his campaign to wean the banking industry off
so-called junk fees, Consumer Financial Protection Bureau Director Rohit
Chopra says he sees "promising" signs that banks have been listening and
reining in their fee practices. But that doesn't mean he's ready to back
off.
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https://www.law360.com/banking/articles/1701094?nl_pk=99a2a594-20ad-4b2f-a2…
