SEC

Nvidia Corporation has agreed to pay $5.5 million (roughly Rs. 42 crore) to settle civil charges that the technology firm did not properly disclose the impact of cryptomining on its gaming business, the US Securities and Exchange Commission (SEC) said on Friday.In back-to-back quarters in fiscal 2018, Nvidia failed to disclose that cryptomining was a "significant element" of its revenue growth from sales of chips designed for gaming, the SEC said in a statement and charging order.The firm, which did not admit or deny the…

A sign is posted in front of the Nvidia headquarters on May 10, 2018 in Santa Clara, California.Justin Sullivan | Getty ImagesNvidia will pay $5.5 million as part of a settlement with the SEC that it did not properly inform investors about how cryptocurrency miners were stoking demand for its graphics cards.Nvidia failed to disclose how cryptocurrency mining drove growth in the second and third fiscal quarters of 2018, which took place in 2017, the SEC said in a filing.The settlement represents the end to a saga in which…

WASHINGTON— Nvidia Corp. NVDA -0.90% has agreed to pay $5.5 million to settle a regulatory investigation that found it didn’t adequately reveal the impact of cryptomining on its sales of powerful chips designed for computer gaming. The Securities and Exchange Commission said Nvidia’s sales of its graphics processing units, or GPUs, were materially boosted in its 2018 fiscal year by consumers who bought them to mine new units of…

Nvidia will pay $5.5 million to settle charges from the United States Securities and Exchange Commission (SEC) that the company's disclosures regarding the effect of cryptomining on its gaming arm were insufficient.The SEC order states that Nvidia "failed to disclose... that cryptomining was a significant factor in year-over-year growth in the company's gaming revenue" during consecutive quarters in its 2018 fiscal year. In Forms-10Q for that year, the SEC charges that Nvidia's reports of "material growth" in its gaming…

Tesla Inc CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) in Shanghai, China August 29, 2019.Aly Song | ReutersA federal judge on Wednesday knocked down Tesla CEO Elon Musk's bid to terminate a settlement agreement he struck with the Securities and Exchange Commission after the agency charged him with securities fraud in September 2018. The judge also denied Musk's motion to quash a newer subpoena by the SEC.The financial regulators had charged Tesla and Musk with making "false and misleading"…

The US Securities and Exchange Commission (SEC) announced Tuesday that it will close to double its cryptocurrency enforcement division, adding another 20 positions to the Crypto Assets and Cyber Unit — which has been newly renamed from the “Cyber Unit.” The total number of staff will rise from 30 to 50, increasing the agency’s ability to prosecute securities law violations related to new crypto products. In a press release, the SEC cited a booming period for crypto markets and a corresponding responsibility to keep…

WASHINGTON—The Securities and Exchange Commission will boost the size of its special unit devoted to investigating cryptocurrency frauds and other misconduct, a move that follows the agency’s aggressive push to get the unregulated industry to come under federal supervision. The SEC said it plans to add 20 investigators and litigators to its Crypto Assets and Cyber Unit, which was created in September 2017 when regulators noticed a surge of new digital coins sold to the public. The…

A judge shut down Elon Musk’s effort to cancel the part of his settlement with the SEC over his ‘funding secured’ tweet that basically gave the agency the right to act as a sort of ‘Twitter police.’ It happened all the way back in 2018, but it’s still in the news today for a bunch of different reasons, ranging from Musk buying Twitter, civil lawsuits over the matter, and Musk’s own effort to walk back part of the settlement. Earlier this month, Musk brought up the whole situation in an interview at TED and …

Twitter’s prospective new owner Elon Musk still has some restrictions on his tweets that most of us do not. They’re as a result of a 2018 settlement with the Securities and Exchange Commission (SEC) over his infamous “funding secured” tweet about taking Tesla private. Even considering Musk’s complaints that he was coerced into taking the deal and contempt for the “bastards” at the SEC, earlier today, US District Judge Lewis Liman ruled against Musk, letting the agreement stand as originally written (via Reuters). One…

The US Securities and Exchange Commission (SEC) is investigating how Amazon handled employee disclosures on the use of third-party sellers' data purportedly to boost its own private-label business, the Wall Street Journal reported on Wednesday.The federal regulator's enforcement division has asked for emails and communications from several senior Amazon executives, according to the report, which cited people familiar with the matter. Amazon did not immediately respond to a request for comment, while a spokesperson for the…