Employees Archives - Page 3 of 19 -
Wells Fargo & Co. must pay $ 97 million to home mortgage consultants and private mortgage bankers in California who didn’t get the breaks they were entitled to under the state’s stringent labor laws.
A federal judge in Los Angeles on Tuesday agreed with the bankers and consultants that the money…
AFSCME is one of the largest contributors to political causes and candidates in the country, but maybe not for long. The U.S. Supreme Court is considering a potentially landmark First Amendment case brought by Mark Janus, a public employee in Illinois who argues that his rights are violated by an Illinois law that forces him to pay for AFSCME’s collective bargaining.
Employees of an LA Fitness in New Jersey wrongly accused a black member and his guest of not paying to work out and called police, prompting an apology from the company. A spokeswoman for Fitness International, parent company of LA Fitness, told the AP that three employees directly involved in…
Former Los Angeles Times Editor in Chief Lewis D’Vorkin was fired by Tronc Inc. on Thursday and several dozen other employees of the company were laid off.
D’Vorkin was the chief content officer of Tribune Interactive, a newly formed digital business unit of The Times’ parent company. The reason…
Embattled blood testing firm Theranos Inc. reportedly has laid off at least 100 employees, a move that reduces its headcount to two dozen or fewer.
Citing unnamed sources, the Wall Street Journal reported that the layoffs at the Newark, Calif., company were a desperate attempt to preserve cash…
Two founders of Backpage.com and five others who work for the classified advertising site have been indicted on federal charges in what authorities say was a scheme to knowingly facilitate prostitution by running ads for sexual services and using foreign banks to hide revenues, the AP reports. A 93-count…
Three-quarters of employees surveyed at Disney’s Anaheim resort say they can’t afford basic living expensesMarch 1, 2018 | dailybusinessnews
Only weeks after Walt Disney Co. reported better-than-expected profit, a survey at the company’s Anaheim theme parks found that 73% of employees questioned don’t earn enough to pay for such expenses as rent, food and gas.
The online survey, funded by labor groups pushing for higher wages for workers…
While private businesses all over the world struggle with employees so much as possessing cryptocurrency, the US Commodity Futures Trading Commission (CFTC) has reportedly given the full go-ahead to its employees trading crypto.
Also read: How To Regain Control From Nanny Zuck
CFTC Allows Employees to Trade Cryptocurrency
Robert Schmidt reports that bitcoin futures regulator CFTC now allows “workers [to] trade digital tokens as long as they don’t buy them on margin or have inside information gleaned from their jobs,” though futures products of a similar nature are prohibited.
Last December, the CFTC welcomed bitcoin futures market makers such as Chicago Board Options Exchange (Cboe) and Chicago Mercantile Exchange (CME) to begin the groundbreaking process of introducing the world’s most popular cryptocurrency, bitcoin, to mainstream investors.
Mr. Schmidt sources CFTC’s Daniel J. Davis, appointed last Spring by Chairman J. Christopher Giancarlo. At his ascension to the CFTC General Counsel position, Mr. Davis reminded “Congress has entrusted the Commission with key responsibilities and I intend to assist the Commission with the various legal issues it must address in fulfilling those responsibilities.” A memo by Mr. Davis mere weeks ago reportedly addressed “numerous inquiries” from employees about their ability to dabble in cryptocurrencies.
Mr. Giancarlo around the same time became something of a folk hero within the ecosystem for his feeling responses at, of all places, a US Senate Committee on Banking public hearing. He was paired with his compadre bigwig of the SEC, but it was Mr. Giancarlo who stole the show, asking lawmakers take into consideration the next generation’s affinity for decentralized currency. Evidently that view flows to those under his employ.
Wolf In Sheep’s Clothing
Bloomberg quotes St. Mary’s School of Law professor Angela Walch as finding the whole idea “actually mind-boggling that they are allowing investing in this at all. It could absolutely skew their regulatory decisions.” The Chairman’s spokeswoman, however, clarified, “The chairman has made it clear that staff members who own Bitcoin should not participate in matters related to Bitcoin, as it presents a conflict of interest.”
Mr. Davis’ memorandum to CFTC employees is reported to read as, “In this environment, the situation is ripe for the public to question the personal ethics of employees engaging in cryptocurrency transactions. Please keep in mind that you must endeavor to avoid any actions creating the appearance that you are violating the law or government and commission ethical standards.”
Interestingly, Mr. Schmidt notes, “The Securities and Exchange Commission also allows its workers to invest in digital currencies, with some exceptions similar to the CFTC. However, the SEC has less responsibility for overseeing the crypto markets.”
Whatever the case, it goes to the broader issue of a major importance in politics: optics. It does look bad to have regulators eating at the same table they oversee. On the other hand, it might give individual financial cops better insight into the nature of these markets and the productive power of cryptocurrency in general.
Do you have a problem with CFTC employees trading in crypto? Let us know in the comments section below.
Images courtesy of Pixabay, CFTC.
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A search was underway in the Atlanta area to find an employee of the U.S. Centers for Disease Control and Prevention who went home sick more than a week ago and has been missing ever since.