Trump Tried to Kill Anti-Bribery Rule He Deemed ‘Unfair,’ New Book Alleges

NEW YORK TIMES

The president asked administration officials to help kill the Foreign Corrupt Practices Act, according to a new book from two Washington Post reporters.

That law, enacted in 1977 and heavily enforced since around 2005, prohibits companies that operate in the United States from bribing foreign officials to obtain or retain business. It has become a major factor in corporate decision-making about operations abroad. read more »

Flash Crash Culprit Seen as Childlike Gamer Not Fit for Prison

BLOOMBERG

The British trader accused of helping to cause the 2010 Flash Crash that erased $1 trillion in stock market value in just a few minutes is too childlike to spend any time in prison for his securities crimes, his lawyer told a judge in Chicago.

Navinder Sarao, 41, is a guileless mathematical savant who plays markets like a computer game in his bedroom, collects stuffed animals and prefers the company of children to adults, attorney Roger Burlingame said in a 41-page court filing that paints an image of his client that falls somewhere between Rain Man and Peter Pan. read more »

The SEC is warning against a new twist on an old crypto scheme

QUARTZ

The US stock market regulator is warning investors about the latest twist on crypto fundraising. In an investor alert published Tuesday, the Securities and Exchange Commission urged investors to “use caution” before buying digital tokens offered to the public through online exchanges. This alternative fundraising model is known as an initial exchange offering, or “IEO.” read more »

Company promise of easy money was actually $75M Ponzi scheme, feds say

YAHOO FINANCE

A company that offered investors a hands-free monthly income with no skills required was actually a Ponzi scheme that duped more than 500 investors out of at least $75 million, according to the Securities and Exchange Commission. read more »