November 16, 2023

Reuters: US SEC presses judge to force Elon Musk to testify in Twitter probe

Reuters: US SEC presses judge to force Elon Musk to testify in Twitter probe. “The U.S. Securities and Exchange Commission (SEC) on Thursday urged a federal judge to force billionaire Elon Musk to testify for its investigation into his $44 billion takeover of social media giant Twitter, now known as X. In a document filed in federal court in San Francisco on Thursday, the SEC defended its efforts to compel Musk’s testimony, saying agency officials are acting within their authority.”

Security & Legal Issues 0
November 3, 2023

Reuters: Elon Musk asks court to reject SEC’s bid to force him to testify in Twitter probe

Reuters: Elon Musk asks court to reject SEC’s bid to force him to testify in Twitter probe. “Elon Musk asked a federal judge on Thursday not to force him to testify in the U.S. Securities and Exchange Commission’s probe into his $44 billion takeover of social media site Twitter. Musk filed the objections in San Francisco federal court, where the SEC sued him on Oct. 5 to make him testify for the probe, which it launched in April 2022.”

Security & Legal Issues 0
November 1, 2023

Ars Technica: SEC sues SolarWinds and CISO, says they ignored flaws that led to major hack

Ars Technica: SEC sues SolarWinds and CISO, says they ignored flaws that led to major hack.”The US Securities and Exchange Commission sued SolarWinds Corp. and Chief Information Security Officer Timothy Brown yesterday, alleging that they concealed security failures that led to a nearly two-yearlong cyberattack known as ‘Sunburst.’ The attack, reportedly carried out by Russian hackers, inserted malicious code into SolarWinds network-management software used by thousands of customers, including US government agencies and private companies.”

Security & Legal Issues 0
September 26, 2023

Ars Technica: SEC obtains Wall Street firms’ private chats in probe of WhatsApp, Signal use

Ars Technica: SEC obtains Wall Street firms’ private chats in probe of WhatsApp, Signal use . “The US Securities and Exchange Commission has ‘collected thousands of staff messages from more than a dozen major investment companies’ as it expands a probe into how employees and executives at Wall Street firms use private messaging platforms such as WhatsApp and Signal, Reuters reported today, citing ‘four people with direct knowledge of the matter.’”

Security & Legal Issues 0
September 12, 2023

Washington Post: Musk may have violated FTC privacy order, new court filing shows

Washington Post: Musk may have violated FTC privacy order, new court filing shows. “Elon Musk repeatedly made business decisions after his takeover of Twitter last year that violated the company’s internal policies and likely ran afoul of a 2022 government order that put sweeping restrictions on the company’s data security and privacy practices, according to depositions from former employees that the Justice Department published in a court filing Tuesday.”

Security & Legal Issues 0
September 2, 2023

Reuters: U.S. judge approves payouts from Elon Musk’s SEC settlement

Reuters: U.S. judge approves payouts from Elon Musk’s SEC settlement. “A federal judge on Friday authorized the payout of $41.53 million to investors who lost money when Elon Musk tweeted about taking his electric car company Tesla (TSLA.O) private. Payouts will come from a ‘fair fund’ created under a settlement between Musk and the U.S. Securities and Exchange Commission, arising from Musk’s August 2018 post on Twitter that he had ‘funding secured’ for a Tesla buyout.”

Security & Legal Issues 0
July 21, 2023

The VergE: SEC is worried chatbots could fuel a market panic

The Verge: SEC is worried chatbots could fuel a market panic. “The US Securities and Exchange Commission (SEC) has expressed concern about generative AI’s impact on financial markets. In a speech given to the National Press Club on Monday, SEC Chair Gary Gensler said recent advances in generative AI increase the possibility of institutions relying on the same subset of information to make decisions.”

Security & Legal Issues 0
June 9, 2023

SEC: SEC Charges Coinbase for Operating as an Unregistered Securities Exchange, Broker, and Clearing Agency

SEC: SEC Charges Coinbase for Operating as an Unregistered Securities Exchange, Broker, and Clearing Agency. “The Securities and Exchange Commission today charged Coinbase, Inc. with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. The SEC also charged Coinbase for failing to register the offer and sale of its crypto asset staking-as-a-service program.”

Security & Legal Issues 0
May 15, 2023

Ars Technica: Musk loses free speech court battle; SEC can keep pre-screening Tesla tweets

Ars Technica: Musk loses free speech court battle; SEC can keep pre-screening Tesla tweets. “Under the agreement, Tesla’s general counsel or an in-house securities lawyer must pre-approve Musk’s tweets whenever the Tesla CEO discusses Tesla’s financial condition, potential mergers, production numbers or sales, new or proposed business lines, unpublished projections or forecasts or estimates, and other terms. A majority of shareholders can also stop Musk from tweeting about any topic they believe would move the market and potentially threaten their interests.”

Security & Legal Issues 0
March 22, 2023

CNBC: SEC charges Tron founder Justin Sun, celebrities Lindsay Lohan, Jake Paul with crypto violations

CNBC: SEC charges Tron founder Justin Sun, celebrities Lindsay Lohan, Jake Paul with crypto violations. “The Securities and Exchange Commission has unveiled fraud and unregistered securities charges against crypto founder and Grenadian diplomat Justin Sun, alongside separate violations against the celebrity backers of his Tronix and BitTorrent crypto assets, which included Jake Paul, Lindsay Lohan and Soulja Boy.”

Security & Legal Issues 0
February 27, 2023

TechCrunch: SEC says Elon Musk still needs lawyer to approve his tweets

TechCrunch: SEC says Elon Musk still needs lawyer to approve his tweets. “The U.S. Securities and Exchange Commission (SEC) says Tesla CEO Elon Musk still needs to get pre-approval from lawyers before tweeting Tesla-related information. The SEC penned its renewed stance this week in a letter to the U.S. Court of Appeals for the 2nd Circuit in New York, arguing that an earlier settlement agreement between the agency and Musk is fully constitutional and valid.”

Security & Legal Issues 0

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