Michael Shaw

Financial technology is changing how we do business, and regulators are trying to catch up
Fintech Beat

Whether you’re paying a friend for drinks on Venmo or logging in to your online banking, you’ve probably engaged with fintech.

US relies on old rules to police cryptoassets
Europe appears to be on different fintech track

Despite calls for international unity on financial regulations following the 2008 financial crisis, the United States is unlikely to follow Europe in exploring a unique regulatory regime for “cryptoassets,” whether for payment models like bitcoin or utility tokens that have been touted by celebrities as can’t-miss investments.

The U.S. approach, which has been reaffirmed several times by regulators, is to apply standard rules and tests dating back to the 1930s to fintech, or financial technology, products when determining whether agencies have authority over them.

Accused Fraudster Said to Have Set Up Unwelcome Sanders PAC
Bet on Bernie website still allows visitors to donate funds

A man who regulators said this week planted false information that inflated his company’s stock price was accused last year by Sen. Bernie Sanders' presidential campaign of setting up an unaffiliated and unwelcome campaign committee that used Sanders’ name, as well as websites and social media accounts that solicited donations supposedly to help Sanders get elected.  

Cary Lee Peterson, 36, was charged by the Securities and Exchange Commission and the Justice Department for violating the antifraud provisions of the securities laws and an SEC antifraud rule. He was arrested this week at San Francisco International Airport after returning to the United States on an international flight, and made an initial appearance in federal court in San Francisco.  

Sanders Campaign: Accused Securities Violator Set Up Unwelcome PAC
Feds charged Cary Lee Peterson for violating SEC fraud rule.

A man who regulators said this week planted false information that “inflated” his company’s stock price was accused last year by Sen. Bernard Sanders' presidential campaign of setting up an unaffiliated and unwelcome campaign committee that used Sanders’ name, as well as websites and social media accounts that solicited donations supposedly to help Sanders get elected.  

Cary Lee Peterson, 36, was charged by the Securities and Exchange Commission, as well as by the Justice Department, for violating the antifraud provisions of the securities laws and an SEC antifraud rule. He was arrested this week at San Francisco International Airport after returning to the United States on an international flight, and made an initial appearance in federal court in San Francisco.