REPUBLICAN ATTORNEYS GENERAL SIDE WITH THE CRYPTO INDUSTRY BY CHALLENING THE SEC’S AUTHORITY OVER CRYPTO TRADING: Kentucky v. SEC, No. 3:24cv69 (E.D. Ky) (filed 11-14-24) The crypto industry has some new allies in court. On November 14, 2024, a group of 18 Republican attorneys general filed a lawsuit in federal court in the Eastern District […]
WASHINGTON, D.C.— Stephen Hall, Better Markets’ Legal Director and Securities Specialist, issued the following statement in connection with the Supreme Court’s unanimous decision in Murray v. UBS Securities LLC, which held that whistleblowers need not show retaliatory intent on the part of their employers to be protected against retaliation for their whistleblowing activity: “The Supreme Court’s ruling […]
Kalshi’s Failed Attempt to Promote Gambling on Congressional Elections Is Now Playing out in Court KalshiEx LLC (Kalshi) wants to offer trading in a new derivatives contract that would allow gambling on the outcome of Congressional elections (referred to as the “Congressional Control Contract”). On June 12, 2023, Kalshi filed a certification with the Commodity […]
WASHINGTON, D.C.— Dennis M. Kelleher, Co-founder, President, and CEO of Better Markets issued the following statement on the settlement among the U.S. Justice Department (DOJ) and Binance and its CEO Changpeng Zhao known as CZ: “The DOJ’s litany of repeated, egregious, and years-long knowing, intentional and widespread global criminal conduct by Binance and CZ involving terrorist […]
The following piece ran in Law 360 on December 7, 2022 by Stephen Hall and Houston Shaner On Nov. 15, the U.S. Securities and Exchange Commission’s Division of Enforcement released its summary of the enforcement actions it brought in fiscal year 2022.[1] It offers good news and bad news. The good news first: The case […]
WASHINGTON, D.C.—Stephen Hall, Legal Director and Securities Specialist, issued the following statement in response to the SEC’s enforcement statistics for fiscal year 2022, released today: “The numbers sound impressive. For example, the SEC announced that it brought 9% more enforcement actions in FY 2022 compared to the prior fiscal year, with a 6.5% bump up […]
WASHINGTON, D.C.—Stephen Hall, Legal Director and Securities Specialist, released the following statement on the publication of a new Better Markets report, The Supreme Court’s Decisions That Affect Americans’ Financial Lives & The Growing Threat to the Administrative State: “The Supreme Court decides cases every year that have a profound impact on the economic and financial […]
WASHINGTON, D.C.— Dennis Kelleher, Co-Founder, President, and CEO, issued the following statement on release of the opinion of the Office of Legal Counsel at the Department of Justice regarding powers of the Chair and Board of the Federal Deposit Insurance Corp. (FDIC): “Former Federal Deposit Insurance Corp. (FDIC) Chair McWilliams asserted that she had the […]
WASHINGTON, D.C.— Dennis Kelleher, Co-Founder, President, and CEO, issued the following statement on the jury verdict convicting two JPMorgan Chase officers of criminal conduct: “Today’s jury verdict convicting two officers of JPMorgan Chase for crimes in manipulating the precious metals markets should signal to Wall Street’s biggest financial firms and executives that they are not […]
WASHINGTON, D.C.— Dennis Kelleher, Co-Founder, President, and CEO, issued the following statement on Better Markets’ Amicus brief filed in the case of Arkansas Teacher Retirement System v. Goldman Sachs Group, Inc. in the United States Court of Appeals for the Second Circuit. “Goldman Sachs claims that it should not be liable for its false statements about […]
Even though Wall Street’s biggest banks each have decades-long histories of repeatedly breaking the law,[1] senior staff, supervisors, and executives of those banks are almost never charged either civilly or legally for that lawbreaking. However, the Department of Justice (DOJ) has criminally charged four of nine former JPMorgan Chase officers for engaging in an 8-year […]
WASHINGTON, D.C.— Dennis M. Kelleher, President and CEO, issued the following statement in response to the Supreme Court’s decision in West Virginia v. EPA: “The decision by the Supreme Court today to limit the EPA’s authority to enact sensible and necessary regulations is a dagger aimed at the heart of the post-New Deal administrative state […]
The Supreme Court Recently, the Supreme Court has issued a number of high-profile and extraordinarily controversial decisions concerning major social policy issues, including abortion rights and gun control. But the fact remains that every term, the U.S. Supreme Court also decides cases addressing important financial and economic issues that profoundly affect Americans’ lives. We regularly […]
The Supreme Court Every term, the U.S. Supreme Court decides cases addressing not just major social policies such as abortion and gun control but also financial and economic issues that profoundly affect Americans’ lives. We regularly issue reports highlighting these critically important economic and financial cases. Read our preview of the current term here, and our […]
WASHINGTON, D.C.— President and CEO Dennis M. Kelleher issued the following statement on the CFTC’s May 25 public roundtable on intermediation in derivatives trading and clearing, which was precipitated by FTX’s application to offer non-intermediated, margined clearing of Bitcoin futures products. On May 11, Better Markets filed a comment letter with the CFTC on FTX’s […]
Washington, D.C. – Dennis Kelleher, President and CEO, issued the following statement in connection with the release today of Better Markets’ Rap Sheet Report: “The Report we are releasing today shows that Wall Street’s biggest banks have racked another $1 billion in fines in 35 cases in just the last 15 months. This lawbreaking comes […]
Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to the jury verdict in the trial of former Goldman Sachs’ junior partner in connection with the global money laundering scandal and looting of 1Malaysia Development Berhad (1MDB): “The jury verdict convicting a single junior […]
WASHINGTON, D.C.— Today, Legal Director and Securities Specialist Stephen Hall issued the following statement on the release of Better Markets’ newest report: The SEC Must Stop Bleeding Public Markets Dry: “Over the last several decades, the SEC’s steadily expanding exemptions from the registration requirements in the U.S. securities laws have shifted capital-raising activities between two […]
WASHINGTON, D.C.— Today, Legal Director and Securities Specialist Stephen Hall released the following statement in response to the U.S. Senate’s confirmation of Judge Ketanji Brown Jackson to the U.S. Supreme Court: “We are pleased that the U.S. Senate has confirmed Judge Ketanji Brown Jackson to join the U.S. Supreme Court, making history as the first […]
Date: Wednesday, April 6, 2022 To: Interested Parties Subject: Information on Goldman Sachs’ Role in the Egregious 1MDB Global Crime Spree as the Trial of Former Goldman Sachs’ Partner Ng Goes to the Jury Event: Justice Dpt. prosecution of Goldman Sachs’ former partner goes to jury with a verdict expected this week. From: Evelyn Swan, […]
Spotlight on the Supreme Court Every term, the U.S. Supreme Court decides cases addressing not just major social policies such as abortion and gun control but also financial and economic issues that can profoundly affect the lives of virtually all Americans—anyone with a bank account, credit card, mortgage loan, or retirement fund. We regularly issue […]
FOR IMMEDIATE RELEASE Thursday, February 3, 2022 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.—Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, released the following statement after Better Markets and the Consumer Federation of America filed an amicus brief urging the U.S. Court of Appeals for the Tenth Circuit to reverse […]
We continue to track a number of other cases pending in the federal courts that involve key issues in the areas of financial regulation, administrative law, and standing, all of which affect the Americans’ financial health. Here are some of the key cases on our list: A class action lawsuit on appeal in the 10th Circuit […]
Spotlight on the Supreme Court Every term, the U.S. Supreme Court decides cases influencing not just major social policies such as abortion and gun control but also financial and economic issues that can profoundly affect the lives of virtually all Americans—anyone with a bank account, credit card, mortgage loan, or retirement fund. We regularly issue […]
FOR IMMEDIATE RELEASE Thursday, December 9, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the district court’s decision in In re Goldman Sachs Group, Inc. Securities Litigation, issued yesterday and in line with our amicus brief filed […]
FOR IMMEDIATE RELEASE Thursday, December 2, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, released the following statement ahead of Monday’s oral argument before the U.S. Supreme Court in the case of Hughes v. Northwestern University: “The Court has an opportunity to improve […]
Spotlight on the Supreme Court On Monday, December 6, 2021, the U.S. Supreme Court will hear oral argument in an important case titled Hughes v. Northwestern University (S. Ct. Docket No. 19-1401). The case provides the Court with an opportunity to improve the lives of countless retirement savers by giving them a chance to hold […]
On Monday, October 4, 2021, the Supreme Court embarked on what the New York Times has called a “momentous” new term. In part that’s because the Court has agreed to hear a number of cases that will have an unusually profound impact on controversial social policies, including abortion and gun rights. But the Court’s docket […]
This case will determine whether the SEC can level the playing field for all investors or whether Citadel will succeed in protecting the status quo so it can continue raking in huge and unfair profits. The SEC approved an innovative new order type developed by a pro-investor exchange known as IEX, which helps neutralize the […]
WASHINGTON, D.C.—Stephen Hall, Better Markets Legal Director and Securities Specialist, released the following statement on the oral argument scheduled for Monday, October 25, 2021 before the D.C. Circuit in Citadel Securities LLC v. SEC: “Our securities markets are rigged in favor of Wall Street at the expense of everyday retail investors. A handful of high-frequency […]
WASHINGTON, D.C.—Stephen Hall, Better Markets Legal Director and Securities Specialist, released the following statement on the publication of a new Better Markets report, THE SUPREME COURT’S 2021-2022 TERM: A Review of the Cases Affecting Every American’s Financial Well-Being; A Look Back At Justice Kavanaugh’s Track Record; And An Update On The Court’s Transparency Challenges: “Every […]
FOR IMMEDIATE RELEASE Monday, September 13, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.—Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, released the following statement after Better Markets joined with AARP and other prominent public interest groups on a Supreme Court amicus brief filed today in the case of Hughes v. […]
FOR IMMEDIATE RELEASE Tuesday, September 7, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C. — Today, Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, released the following statement on the U.S. District Court for the Western District of Texas’s recently issued decision to uphold the payment provisions in the Consumer Financial Protection […]
Better Markets continues to watch for decisions in several important pending cases as well as track key issues in the courts. These are the important cases involving financial regulation: A lawsuit (Thomas v. SEC) challenging the SEC’s flawed whistleblower rule changes adopted by the Trump administration, which threaten to reduce incentives for whistleblowers to come forward […]
FOR IMMEDIATE RELEASE Friday, July 30, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.— Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement announcing the release of a special report recapping the U.S. Supreme Court’s 2020-2021 session and highlighting the impact the Court has on the economic […]
More Delay as Shareholders Seek Justice for Goldman Sachs’ Crisis-Era Fraud On Monday, June 21, the U.S. Supreme Court issued its decision in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System. A group of Goldman shareholders, including pension funds, are seeking to hold the bank accountable for its fraud through a class action. What’s […]
FOR IMMEDIATE RELEASE Monday, June 21, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the Supreme Court’s decision in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System, issued this morning: “What’s at stake in the case […]
FOR IMMEDIATE RELEASE Monday, June 21, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the Supreme Court’s decision in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System, issued this morning: “What’s at stake in the case […]
Better Markets continues to watch for decisions in several important pending cases as well as track key issues in the courts. These include: A case before the Supreme Court (Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System) in which shareholders are seeking compensation for Goldman Sachs’ role in the 2008 financial crisis. The Supreme Court heard oral […]
Better Markets continues to watch for decisions in several important pending cases as well as track key issues in the courts: A case before the Supreme Court (Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System) in which shareholders are seeking compensation for Goldman Sachs role in the 2008 financial crisis. The Supreme Court heard oral argument in […]
If you think that the Supreme Court is not important to your financial and economic security, here’s $1.2+ billion reasons why you are wrong. On April 22, the Supreme Court handed the FTC a major defeat in its fight to deprive con artists of their ill-gotten gains and to return funds to injured investors. It […]
The Eighth Circuit Court’s rejection of a proposed class-action lawsuit from investors who accused TD Ameritrade of securities fraud is disappointing, denies investors their day in court, and inappropriately insulates the industry from meaningful scrutiny and accountability. Last week, the U.S. Court of Appeals for the Eighth Circuit sided with the brokerage firm which said that […]
FOR IMMEDIATE RELEASE Friday, April 23, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Stephen Hall, Legal Director, and Securities Specialist released the following statement regarding today’s decision from the Eighth Circuit in Ford v. TD Ameritrade: “Today’s decision by the Eight Circuit Court will cause tens of millions of investors to […]
FOR IMMEDIATE RELEASE April 12, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the filing of an amicus brief defending a new order type that will help retail investors fight back against high-frequency trading (“HFT”) abuses, in […]
FOR IMMEDIATE RELEASE Friday, March 26, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the eve of oral argument in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System, set for Monday morning, March 29, before the […]
Better Markets continues to watch for decisions in a number of important pending cases as well as track key issues in the courts. Roderick Ford v. TD Ameritrade. In 2019, Better Markets filed an amicus brief in support of a class-action lawsuit alleging that brokers routinely violate their duty to seek the best execution of client […]
Better Markets filed an amicus brief in the U.S. Supreme Court in support of shareholders seeking compensation for Goldman Sachs’ role in the 2008 financial crisis. Oral argument is set for March 29. Before the Supreme Court is a group of Goldman shareholders seeking to hold the bank accountable for its misrepresentations through a class […]
FOR IMMEDIATE RELEASE Wednesday, March 3, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Better Markets Urges U.S. Supreme Court to Consider Goldman Sachs’ Monumental Conflicts of Interest During the Financial Crisis as It Reviews Shareholder Lawsuit Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the amicus […]
Actions in the Federal Courts: Cases We’re Watching Better Markets continues to monitor decisions in a number of important pending cases, including Roderick Ford v. TD Ameritrade, as well as track key issues in the courts. Roderick Ford v. TD Ameritrade. In 2019, Better Markets filed an amicus brief in support of a class-action lawsuit alleging that brokers routinely violate […]
Better Markets continues to watch for decisions in a number of important pending cases, including Roderick Ford v. TD Ameritrade, as well as track key issues in the courts. Roderick Ford v. TD Ameritrade. In 2019, Better Markets filed an amicus brief in support of a class-action lawsuit alleging that brokers routinely violate their duty to seek the […]
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