Dismal's Smacks

🌙 ☀️

Sign in Subscribe

Latest

Whistleblower Alert! The SEC awards whistleblower more than $37 million

Whistleblower Alert! The SEC awards whistleblower more than $37 million, meaning the fine levied ranged between $123,333,333 and $370,000,000 dollars.

The Securities and Exchange Commission (SEC) announced today a substantial award of more than $37 million to a whistleblower whose information and assistance were pivotal in a successful enforcement action. The whistleblower's internal reporting prompted their employer to conduct an investigation and self-report the findings to the SEC,

SEC Complaint against Andrew Left

SEC Complaint against Andrew Left: "did not provide for the purpose of concealing that he was receiving over $1 million from a hedge fund in exchange for Citron Research publishing certain reports and tweets."

This is your moment. Will you step up when you're needed most? Submit your evidence to the SEC, to save the world from Wall Street.

This is your moment. Will you step up when you're needed most? Submit your evidence to the SEC, to save the world from Wall Street.

Korea's Act on the Protection of Virtual Asset Users to Take Effect from 7/19: "those who are found to have engaged in unfair trading activities may be subject to criminal punishment or penalty surcharge."

Korea's Act on the Protection of Virtual Asset Users to Take Effect from 7/19: "those who are found to have engaged in unfair trading activities may be subject to criminal punishment or penalty surcharge."

The SEC awards more than $37 million to a Whistleblower

Whistleblower Alert! The SEC awards more than $37 million to a Whistleblower--meaning the fine levied ranged between $123,333,333-$370,000,000 million.

IMF: Services price inflation is holding up progress on disinflation

IMF: "Services price inflation is holding up progress on disinflation, which is complicating monetary policy normalization. Upside risks to inflation have thus increased, raising the prospect of higher-for-even-longer interest rates"

Members of the public may have received a message indicating submissions unable to be completed.

Due to a now resolved technical error, members of the public who sought to submit an online comment to the SEC website from 5/30 - 6/26 2024, may have received a message indicating submissions unable to be completed.

📰 News

Korea's Act on the Protection of Virtual Asset Users to Take Effect from 7/19: "those who are found to have engaged in unfair trading activities may be subject to criminal punishment or penalty surcharge."

Korea's Act on the Protection of Virtual Asset Users to Take Effect from 7/19: "those who are found to have engaged in unfair trading activities may be subject to criminal punishment or penalty surcharge."

Korea's new Act on the Protection of Virtual Asset Users comes into force on July 19, 2024, marking a significant step in safeguarding users and regulating virtual asset service providers (VASPs). This follows a revision in March 2021, which required VASPs to register with financial authorities and introduced

Credit Suisse engaged in naked short sales

Korea's SFC Imposes Penalty Surcharges on Global Investment Banks for Violating Short Sale Regulations. Credit Suisse engaged in naked short sales in the amount of about KRW60.33 billion (162,365 shares on 20 stock items).

CFTC Awards Over $8 Million to Whistleblower

CFTC Awards Over $8 Million to Whistleblower who "helped the CFTC establish that one or more derivatives market participants deceived clients about key aspects of trades."

Today the Fed held a CLOSED board meeting to discuss an update on bank stress tests

Reminder: Today, as it was determined that the public interest did not require opening the meeting, the Fed held a CLOSED board meeting to discuss an update on bank stress tests set to be released to the public on 6/26/24.

Korea's Financial Service Commission to Implement Short Sale Reform Measures

Korea's Financial Service Commission to Implement Short Sale Reform Measures Introduced to Prevent Illegal Trading Activities and Protect Investors.

Short Sale Ban Extended Until March 30, 2025

Korea Financial Service Commission: Short Sale Ban Extended Until March 30, 2025.

Fed holding a closed meeting Friday

Federal Reserve Alert! The Fed to hold a CLOSED meeting at 9:30 a.m. on Friday, June 14, 2024 for an update on Bank Stress Tests.

📈 Macroeconomics

IMF: Services price inflation is holding up progress on disinflation

IMF: "Services price inflation is holding up progress on disinflation, which is complicating monetary policy normalization. Upside risks to inflation have thus increased, raising the prospect of higher-for-even-longer interest rates"

The International Monetary Fund said Tuesday in its World Economic Outlook Update that global growth remains on track with the April 2024 World Economic Outlook (WEO) forecast, projected at 3.2% in 2024 and 3.3% in 2025. However, persistent services price inflation is complicating disinflation efforts and in turn,

The amount of interest paid to live another day? $7,380,456,000.

As of June 30, 2024 the total outstanding amount of all advances under the BTFP was $106,336,593,000. The amount of interest paid to live another day? $7,380,456,000.

S&P Global: Public US banks with high CRE concentrations under SEC scrutiny.

S&P Global: Public US banks with high Commercial Real Estate (CRE) concentrations under SEC scrutiny.

185 banks with $524 billion of assets had unrealized securities losses that exceeded their shareholders’ equity

Office of Financial Research: "As of Q4 2023, 185 banks with $524 billion of assets had unrealized securities losses that exceeded their shareholders’ equity."

Fed Chair Jerome Powell

Fed Chair Powell: "we do not expect it will be appropriate to reduce the target range for the federal funds rate until we have gained greater confidence that inflation is moving sustainably toward 2 percent."

U.S. Revolving credit (credit cards) grew by $7.02 billion (+6.3%) in May.

U.S. Revolving credit (credit cards) grew by $7.02 billion (+6.3%) in May to $1.345 trillion, up from $1.338 trillion recorded in April. Consumer Credit and Credit Card use continues to outpace the Fed's 2% inflation goal!

June saw an unprecedented spike in US corporate bankruptcy filings.

June saw an unprecedented spike in US corporate bankruptcy filings, the highest recorded in a single month since 2020, and outpacing half-year data from the past ten years.

🧱 Market Reform

Whistleblower Alert! The SEC awards whistleblower more than $37 million

Whistleblower Alert! The SEC awards whistleblower more than $37 million, meaning the fine levied ranged between $123,333,333 and $370,000,000 dollars.

The Securities and Exchange Commission (SEC) announced today a substantial award of more than $37 million to a whistleblower whose information and assistance were pivotal in a successful enforcement action. The whistleblower's internal reporting prompted their employer to conduct an investigation and self-report the findings to the SEC,

SEC Complaint against Andrew Left

SEC Complaint against Andrew Left: "did not provide for the purpose of concealing that he was receiving over $1 million from a hedge fund in exchange for Citron Research publishing certain reports and tweets."

Korea's Act on the Protection of Virtual Asset Users to Take Effect from 7/19: "those who are found to have engaged in unfair trading activities may be subject to criminal punishment or penalty surcharge."

Korea's Act on the Protection of Virtual Asset Users to Take Effect from 7/19: "those who are found to have engaged in unfair trading activities may be subject to criminal punishment or penalty surcharge."

The SEC awards more than $37 million to a Whistleblower

Whistleblower Alert! The SEC awards more than $37 million to a Whistleblower--meaning the fine levied ranged between $123,333,333-$370,000,000 million.

Members of the public may have received a message indicating submissions unable to be completed.

Due to a now resolved technical error, members of the public who sought to submit an online comment to the SEC website from 5/30 - 6/26 2024, may have received a message indicating submissions unable to be completed.

"We benefit in all of our work from robust public input regarding proposed rule changes."

SEC Chair Gary Gensler from his statement on the Spring 2024 Regulatory Agenda: "We benefit in all of our work from robust public input regarding proposed rule changes."

This week the SEC has approved whistleblower awards totaling more than $5.1 million

Whistleblower Alert! This week the SEC has approved whistleblower awards totaling more than $6.3 million--meaning the fines levied from these tips ranged from $21-$63 million.

🗣 Discussion / Question

Catching up: BTFP usage explodes & program end date announced, credit card debt jumps 17.7% in November, $28 million to whistleblowers, Uyeda new term, Korea punishes illegal short selling, GameStop NFT Project update, and much more!

DTC received notification from Deutsche Bank Trust Company America, the MMI issuing/paying agent for OVERSEA-CHINESE BANKIN (OVR*), Deutsche refuses to pay maturity presentments for this issuer’s institutional certificate of deposit.

New bank failure incoming? FDIC held a CLOSED meeting at 3:12 pm yesterday to consider matters related to the Corporation’s supervision, corporate, and resolution activities.

Is IBKR okay? Effective Tuesday, October 31, 2023 INTERACTIVE BROKERS LLC/IBKR SECURITIES SERVICES LLC will withdraw from membership in the Netting and Repo Netting of the Government Securities Division.

I have been blocked from accessing dtcc.com. Has anyone else also been blocked by the DTCC and unable to access dtcc.com?

🌡️ Inflation

Reserve Bank of Australia Statement on Monetary Policy: "forecasts for both headline and underlying inflation over the year ahead have been revised higher" "The inflation forecasts out to 2025 have also been revised higher."

U.S. Revolving credit (credit cards) grew From August to September by $3.1 billion and increased at an annual rate of 8.6%.

BLS: Unemployment holds at 3.9% with a minimal shift in jobless figures. Hourly earnings climb to $34.00, more fuel for the inflation fire!

Federal Reserve issues FOMC statement: the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent.

Inflation Alert! ADP National Employment Report: Private Sector Employment Increased by 113,000 Jobs in October; Annual Pay was Up 5.7% for stayers, 8.4% for job changers.

💡 Education

To the people familiar with the matter complaining DFV updates are market manipulation, please revisit Gary Gensler's testimony from Thursday, May 6, 2021

Time is ticking away, with only 2 days remaining to support the rejection of SR-OCC-2024-001: Have you sent your comment to the SEC yet?

REGULATORY KILL SHOT - Rule proposal: SR-OCC-2024-001 has been shut down by the SEC. Let's drive this win home.

Template Letter for SR-OCC-2024-001 ✅ 📢 Ready to Copy, Edit & Send. Deadline - Monday 4th March

🚨🇬🇧 UK Government Unveils Draft Legislation to Replace EU Short Selling Rules, Prompting Need For Public Scrutiny.