SEC

SEC Commissioner Hester Peirce said it was important for the agency to not stifle innovation through its regulatory approach.

Provident Bank announces its new chief lending officer; the SEC's acting chairman asks a federal court to delay scheduling cases involving a rule on climate-related disclosure; the merger deadline for Capital One Financial's proposed acquisition of Discover Financial Services is extended; and more in this week's banking news roundup.

Hester Pierce, a Republican SEC appointee, said industry watchdogs had previously been practicing regulation by enforcement with digital assets.

Eric Council, Jr. will spend two years in prison for an identity theft scheme that led to a false post by the SEC on X that bitcoin ETFs had been approved.

Bank of Montreal dismissed a managing director on its US mortgage-backed bond desk in connection with a regulatory probe into misleading marketing practices.

Hester Peirce and SEC Acting Chair Mark Uyeda say they want to group to devise a clear compliance framework for digital assets and end regulation by enforcement.

The avalanche of cases announced Friday included charges against a no-longer registered advisor and firm accused of misappropriating more than $20 million from clients.

With Securities and Exchange Commission Chair Gary Gensler preparing to step down, the CEO of Unicoin, which is being sued by the agency, expresses hope for more acceptance of cryptocurrencies by the incoming Trump administration.

Misconceptions about the risks of private credit must not be allowed to affect important policy decisions about an industry that provides vital support to a vast swath of the American economy.

The SEC chair's ambitious agenda drew fierce resistance from Wall Street and the crypto industry.