Commerce News
Commerce
Congressman French Hill (R-AR), chairman of the Subcommittee on Digital Assets, Financial Technology and Inclusion, said he and other committee leaders have introduced a bill aiming to provide regulatory clarity to crypto market participants, protect consumers, and encourage innovators to remain in the U.S. The bill includes paths for industry participants to register with the Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC) and directs both agencies to work with foreign regulators to develop international standards.
Commerce
Levine: 'The FTC and its law enforcement partners will not rest in the fight against illegal telemarketing'
The Federal Trade Commission has partnered with federal and state law enforcement agencies and all 50 states' attorneys general, in 180 enforcement actions targeting illegal telemarketing calls.
Commerce
Raimondo: ‘This EDA investment will help create opportunities for residents to get good-paying jobs’
The U.S. Department of Commerce’s Economic Development Administration awarded a $1.6 million grant to Spindale, N.C., for upgrades to its water and sewer system for expansion of a local truckload carrier company.
Commerce
SEC's Katharine E. Zoladz: Merrill Lynch and BACNAH 'failed to comply with one of the most basic requirements for a SAR program'
The Securities and Exchange Commission (SEC) has announced charges against Merrill Lynch, Pierce, Fenner & Smith Inc. and its parent company, BAC North America Holding Co. (BACNAH) for failing to file hundreds of Suspicious Activity Reports (SARs) between 2009 and 2019.
Commerce
Spinrad: 'The quick deployment of HAFS marks a milestone in NOAA's commitment to advancing our hurricane forecasting capabilities'
NOAA has launched the Hurricane Analysis and Forecast System (HAFS), a new hurricane forecast model that aims to improve accuracy in predicting storm tracks and rapid intensification. HAFS will replace existing models and enhance hurricane forecasting capabilities for the National Weather Service in the United States.
Commerce
Grewal: Craffy manipulated Gold Star family members 'to profit from their grief'
The Securities and Exchange Commission (SEC) has charged former U.S. Army financial counselor Caz L. Craffy with defrauding Gold Star family members of benefits, including of life insurance and survivor benefits received after the death of an active duty service member.
Commerce
Samuel Levine, Director of the FTC’s Bureau of Consumer Protection: 'Marketing edible THC products that can be easily mistaken by children for regular foods is reckless and illegal'
In early July, the Federal Trade Commission (FTC), in collaboration with the U.S. Food and Drug Administration (FDA), has issued cease and desist letters to companies that sell edible products containing Delta-8 THC. Many of these products are packaged in a manner that closely resembles food commonly consumed by children.
Commerce
European Commission's adequacy decision 'reflects our shared commitment to facilitating data flows,' Commerce Secretary says
U.S. Secretary of Commerce Gina Raimondo welcomed the European Union's adoption of the Data Privacy Framework (DPF). The adoption of the DPF allows for the transfer of personal data from EU countries to U.S. organizations.
Commerce
SEC accuses ex-Pfizer employee Dagar of using Pfizer trial information 'to enrich himself and his friend'
The U.S. Securities and Exchange Commission (SEC) has announced that it filed insider trading charges against ex-Pfizer employee Amit Dagar and his business partner, Atul Bhiwapurkar, for trading before the announcement of a successful trial of the antiviral COVID-19 treatment Paxlovid,
Commerce
BlackRock CEO Larry Fink: We're trying make crypto more democratized and 'much cheaper for investors'
BlackRock CEO Larry Fink has declared his support of Bitcoin, describing the leading cryptocurrency as an "international asset" with the potential to transform the financial industry, he said.
Commerce
Lummis lauds court decision 'finding that crypto assets traded in secondary markets may not be investment contracts'
Sen. Cynthia Lummis (R-Wyo.) tweeted her support of the Southern District of New York's decision in U.S. Securities and Exchange Commission vs. Ripple Labs Inc., stating the decision aligns with her proposed legislation on regulating the cryptocurrency industry.
Commerce
Raimondo: Biden agenda provides economic resources to communities 'impacted by declines in coal jobs'
A county in east-central Utah is getting more than a $1 million in federal grant funding to develop an aviation-maintenance workforce. The area has been challenged by the declining use of coal in the energy sector.
Commerce
Raimondo: 'To tackle the urgent threat that climate change poses, we need all hands on deck'
The federal government is investing $60 million to support small businesses that are developing technologies designed to increase coastal resilience to climate change. The program partners companies with business accelerators to develop technologies and bring them to market.
Commerce
Antoni: 'American families are being forced to eat the rotten fruit from the tree of government overspending'
Amid the latest Consumer Price Index (CPI) data releases this week showing a 0.2% increase in June's inflation, with a 3% increase over the past year, wages are slipping and fueling concerns among analysts and Heritage Foundation economist EJ Antoni is urging policymakers to act urgently on government overspending.
Commerce
Grewal: DWAC case shows SEC's 'ongoing commitment to exposing insider trading wherever it occurs'
The SEC has brought insider-trading charges against former DWAC board member Bruce Garelick, Michael Shvartsman and his company Rocket One Capital LLC, and Gerald Shvartsman.
Commerce
Blockchain Association chief policy officer: 'It’s clear that the digital assets industry cannot expect a fair assessment from Chair Gensler'
Jake Chervinsky, the chief policy officer of Blockchain Association, a nonprofit that advocates for "pro-innovation" policies for the digital asset industry, called on U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler to remove himself from the SEC's decision-making process for carrying out enforcement actions in the crypto industry, citing Gensler's assertion that all digital assets except bitcoin are securities. Chervinsky's statement comes amidst a wave of SEC enforcement actions against crypto companies, while industry participants and lawmakers are calling for clearer regulatory guidelines for the digital asset industry.
Commerce
SEC on MusclePharm cases: We 'will not hesitate to bring enforcement actions' against those who threaten market integrity
The SEC has filed charges against former executives of MusclePharm Corp., a nutritional supplement company based in Las Vegas, for allegedly engaging in fraudulent practices to prematurely recognize revenue.
Commerce
Raimondo: 'New program makes long overdue investments in communities that have been overlooked'
In an effort to provide a fair shot at economic success for underserved individuals and communities, the Biden-Harris administration has launched the Distressed Area Recompete Pilot Program through the U.S. Department of Commerce's Economic Development Administration.
Commerce
Commerce's Raimondo on EU-US DPF: 'This represents the culmination of months of significant collaboration'
This week, U.S. Secretary of Commerce Gina Raimondo issued a statement detailing recent developments in the United States’ and European Union’s joint effort for data privacy.
Commerce
Raimondo calls Climate Ready initiative to help build 'a climate-ready workforce'
The National Oceanic and Atmospheric Administration (NOAA) is offering $60 million to create jobs that address climate change and boost local resilience. The initiative aims to train workers for quality positions while prioritizing historically underserved communities and promoting equity.
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