Dismal's Smacks

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"We allege that Hwang and Archegos propped up a $36 billion HOUSE OF CARDS by engaging in a constant cycle of manipulative trading, lying to banks to obtain additional capacity, and then using that capacity to engage in still more manipulative trading,"

"We allege that Hwang and Archegos propped up a $36 billion house of cards by engaging in a constant cycle of manipulative trading, lying to banks to obtain additional capacity, and then using that capacity to engage in still more manipulative trading," said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement. "But the house of cards could only be sustained if that cycle of deceptive trading, lies and buying power continued uninterrupted, and once Archegos’s buying power was exhausted and stock prices fell, the entire structure collapsed, allegedly leaving Archegos’s counterparties billions in trading losses."

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SEC Charges 12 Firms for Recordkeeping Failures and Issues More Than $63 million in penalties.

SEC Charges 12 Firms for Recordkeeping Failures and Issues More Than $63 million in penalties.

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SEC: Robinhood Securities failed to comply with Regulation SHO, the regulatory framework designed to address abusive short selling practices.

SEC: Robinhood Securities failed to comply with Regulation SHO, the regulatory framework designed to address abusive short selling practices.

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Hutchinson managed a team that are responsible for the agency’s supervision of derivatives clearinghouses and their members.

CFTC Announces Departure of Clearing and Risk Director Clark Hutchison, who will depart the agency January 15th.

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