U.S. Securities and Exchange Commission

Money Moves

Cleared the merger's registration statement

Two of America's oldest chemical makers are trying to become one. On July 14, Olin and Huntsman said the Securities and Exchange Commission cleared the paperwork for their all-stock merger, sending the deal to shareholders for a vote on August 25.

Updated Yesterday

Rule Changes

Now the primary enforcer of the Investment Company Act

For decades, investors could sue a mutual fund directly to undo contracts that broke federal fund law. On June 11, 2026, the Supreme Court closed that door. By a 6-3 vote, the justices ruled that ordinary investors have no right to sue under the Investment Company Act of 1940, the law that governs mutual funds and similar pooled investments.

Updated Jun 11

Rule Changes

Brought original civil charges

Stephen Buyer served nearly two years in federal prison for insider trading. On June 6, 2026, President Trump wiped the conviction away with a full pardon. The Indiana Republican had traded on secret merger news, including a tip tied to the T-Mobile–Sprint deal.

Updated Jun 6

Money Moves

Receives S-8 registration; not party to compensation dispute

In 2018, Tesla's board agreed to pay Musk stock options if he hit a string of growth targets, with a maximum theoretical value of about $56 billion—already the largest CEO pay package ever written. Eight years later, Tesla is actually moving to hand over the shares, now worth more than $100 billion.

Updated May 31

Money Moves

Previously brought two enforcement actions against Abra

Abra, a cryptocurrency wealth management platform that paid more than $83 million in regulatory settlements over the past two years, announced a $750 million merger with New Providence Acquisition Corp. III to list on Nasdaq. The deal would deliver $300 million in cash for institutional lending, yield, and custody—now Abra's sole focus after shutting down retail operations amid enforcement actions.

Updated May 30

New Capabilities

Overseeing broker-dealer registration and securities trading regulation

Elon Musk founded X.com in 1999 with a vision of building an all-in-one financial services platform, though that company became PayPal and he was ousted as chief executive. Twenty-seven years later, he's trying again. X, the social network formerly known as Twitter, announced on February 14, 2026 that users will soon be able to trade stocks and cryptocurrency directly from their timelines through a feature called Smart Cashtags.

Updated May 29

Money Moves

Must approve merger filings

Open World, a Cayman Islands-based blockchain advisory firm that helped launch over $65 billion in token network value since 2023, is acquiring Nasdaq-listed VerifyMe through a reverse merger giving Open World shareholders 90% ownership. The deal, announced January 5 and formalized February 12, 2026, transforms a struggling authentication and logistics company into a publicly traded real-world asset tokenization platform.

Updated May 29

Money Moves

Reviewing OpenAI's confidential draft registration

OpenAI filed a confidential draft registration with the Securities and Exchange Commission (SEC) on Friday, May 22, 2026. The filing is the first formal step toward a public listing that could value the ChatGPT maker above $1 trillion.

Updated May 22

Rule Changes

Operating with three Republican commissioners, no Democrats

Caroline Crenshaw walked out of the SEC on January 2, 2026, leaving the agency with three commissioners—all Republicans—for the first time in nearly two decades. She was the lone vote against Bitcoin ETFs, the single dissent on 13 crypto approvals, and the industry's most consistent obstacle. Her departure didn't just tilt the commission. It erased the opposition.

Updated May 19

Money Moves

Receives the Form 10, information statement, and Comcast 8-K disclosures

The divorce is final. Comcast completed the pro rata distribution of Versant Media Group shares on January 2, 2026; on January 5, the new company began regular-way trading on Nasdaq under ticker VSNT.

Updated May 15

Rule Changes

Convened and webcast the roundtable; may convert discussions into policy actions

The SEC spent years telling crypto: "We can't see you, so we can't trust you." Now it's hosting a public, recorded forum on the most explosive question in the space: how much visibility regulators should demand—and how much privacy Americans should keep.

Updated May 15

Money Moves

Reviewed and declared Medline’s registration statement effective ahead of listing

Medline's Nasdaq arrival as MDLN quickly turned from “biggest IPO of 2025” into a live market verdict. Shares jumped roughly 41% in their first session, pushing the company into a roughly $50B+ valuation almost immediately.

Updated May 15

Money Moves

Disclosure venue; received the 8-K documenting the redemption plan

Gladstone issued an 8% baby bond in 2023 when money was expensive and investors wanted yield. Now the company is calling the $74.75 million 8.00% Notes due 2028 (ticker: GAINL) for redemption on December 16, 2025—at par plus accrued interest.

Updated May 15

Money Moves

Publishes ServiceNow’s filings that formalize the split mechanics

ServiceNow's 5-for-1 stock split executed on schedule: shares distributed after market close December 17, split-adjusted trading began December 18. The mechanical transition was clean—one $850 share became five $170 shares—but the 'fresh start' narrative got drowned out almost immediately by deal noise and analyst skepticism.

Updated May 15

Rule Changes

Won a civil fraud verdict and multibillion-dollar judgment against Terraform and Kwon.

Do Kwon sold TerraUSD as math-made money that could never break. In 2022 it snapped, vaporizing more than $40 billion and triggering a global hunt for the Stanford‑trained founder. Three years, an Interpol red notice, and a Montenegro arrest later, a New York judge has now handed him 15 years in federal prison.

Updated May 11

Rule Changes

Primary regulator setting and enforcing ETF leverage limits

In late 2025, SEC staff sent warning letters to nine ETF issuers, including Direxion and ProShares. The letters froze applications for 3x–5x leveraged ETFs tied to single stocks, sectors, and crypto assets including Bitcoin and Ethereum. The SEC staff cited Rule 18f‑4's value‑at‑risk cap and the requirement that the unleveraged underlying asset be the designated reference portfolio, which established that new ETFs cannot legally target more than 200% exposure.

Updated May 10