The US Securities and Exchange Commission (SEC) has opened investigations into dozens of startups operating in the cryptocurrency space, an agency official confirmed on Thursday. Stephanie Avakian, co-director of the SEC’s enforcement division, confirmed rumors that the agency was investigating a large number of ICO operators and associated firms for violations of federal securities regulations.
Wall Street banks are at "an inflection point." According to a big report from Morgan Stanley and Oliver Wyman on wholesale banks and asset managers, it's now time for banks to shift their focus towards corporate business, versus the institutional investor clients they've been focused on. That's because the asset managers are under intensifying cost pressure. As a result, institutional client revenue growth is forecast to slow...