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This California bill could help more tech whistleblowers speak out FAST COMPANY

Are share-trading apps a safe way to play the markets? THE GUARDIAN

Clover Health shares dip as SEC looks into short-seller allegations REUTERS U.S. regulators are following up on a critical report about Clover Health Investments Corp by short-selling specialist Hindenburg Research and have told the insurance company to preserve any relevant documents. read more » A Bigger Risk Than GameStop? Beware the Ponzi Scheme Next Door NEW YORK TIMES

McKinsey reaches $573 million settlement with US states over role in opioid crisis REUTERS McKinsey & Co, the consulting firm, has agreed to pay $573 million to resolve investigations by most U.S. states over its alleged role in “turbocharging” sales of opioids, fueling a nationwide epidemic. read more »

GameStop frenzy prompts Yellen to call meeting with SEC, Fed POLITICO Treasury Secretary Janet Yellen will meet with key financial regulatory agencies to scrutinize recent price surges in GameStop stock and other companies, the latest move by policymakers to respond to market maneuvers tied to a group of investors on Reddit. read more » How Rich Hospitals Profit From Patients in Car Crashes NY TIMES

Anyone Can Manipulate the Market. Here’s How to Fix That NY TIMES

The Silicon Valley Start-Up That Caused Wall Street Chaos NY TIMES

SEC issues warning as GameStop short-selling war resumes REUTERS The U.S. Securities and Exchange Commission waded into the battle between small investors and Wall Street hedge funds on Friday, warning both brokerages and the pack of social media traders that it was closely monitoring potential wrongdoing.

Wall Street Insider Turned Tough Market Cop: Biden's Pick to Head SEC NPR

Former Insys exec John Kapoor gets 5 1/2 years for opioid scheme CNBC John Kapoor, 76, the former chairman of Insys Therapeutics, was sentenced to five and a half years in prison in Boston’s federal court. A jury found him guilty of racketeering conspiracy last May and prosecutors said his actions helped fuel the opioid crisis.

Attorney General Becerra Announces $40 Million Nationwide Settlement with Apria Healthcare STATE OF CALIFORNIA DEPARTMENT OF JUSTICE

Georgetown University academic Chris Brummer in lead for CFTC chair REUTERS Georgetown University academic Chris Brummer has emerged as the leading candidate to chair the Commodity Futures Trading Commission (CFTC), according to three people with knowledge of the discussions. The White House is expected to make an announcement on that and other financial regulator roles soon, one of the people said. read more »

Biden to name Gary Gensler as U.S. SEC chair REUTERS Gary Gensler will be named chair of the U.S. Securities and Exchange Commission (SEC) by President-elect Joe Biden, said two sources familiar with the matter, an appointment likely to prompt concern among Wall Street firms of tougher regulation.

SEC Charges Real Estate Fund Manager With Misappropriating Over $7 Million From Retail Investors SEC The Securities and Exchange Commission today charged fund manager Eric C. Malley and his company MG Capital Management L.P. with defrauding retail investors in two real estate funds managed by MG Capital.

New law cracks down on shell companies to combat corruption ABC A watershed reform of U.S. money laundering laws could allow investigators to uncover the proceeds of foreign bribery, drug trafficking and terrorism in just a few keystrokes The new legislation quietly passed by Congress last month after a decade-long fight is the most sweeping banking reform of its kind since passage of the Patriot Act, in the aftermath of the Sept. 11, 2001, terrorist attacks.

Boeing agrees to pay $2.5B+ to settle criminal fraud charges over 737 MAX SEATTLE TIMES Boeing has agreed with the U.S. government to pay more than $2.5 billion to defer prosecution and resolve a charge of “criminal misconduct” in its certification of the 737 MAX, the Department of Justice announced Thursday.

Child labor in palm oil industry tied to Girl Scout cookies AP NEWS Olivia, who earned a badge for selling more than 600 boxes of cookies, had spotted palm oil as an ingredient on the back of one of her packages but was relieved to see a green tree logo next to the words “certified sustainable.” She assumed that meant her Thin Mints and Tagalongs weren’t harming rainforests, orangutans or those harvesting the orange-red palm fruit.

Luckin Coffee Agrees to Pay $180 Million Penalty to Settle Accounting Fraud Charges SEC

Massachusetts regulators expected to file complaint against Robinhood REUTERS Securities regulators in Massachusetts were expected to file a complaint on Wednesday against Robinhood Financial LLC, according to a document reviewed by the Wall Street Journal, the newspaper said on Wednesday.

Congress passes defense bill with big ramifications for AML, whistleblowers COMPLIANCE WEEK Tucked into the $740 billion defense spending bill Congress approved Friday are several anti-money laundering (AML) provisions that could dramatically improve law enforcement’s ability to identify and prosecute criminals laundering money through the U.S. banking system.