(Reuters) – Richard Cordray, a Democrat whose resignation as head of the U.S. consumer bureau last month triggered a political battle over who should replace him, plans to run for governor of Ohio, an advisor said on Monday.
(Reuters) – The U.S. Department of Labor on Monday proposed eliminating an Obama administration rule that allowed restaurant employees to keep their tips instead of being forced to share them with non-tipped workers, saying the rule had contributed to pay disparities between servers and other staff like cooks and dishwashers.
The Securities and Exchange Commission on Monday announced that it was taking action against an initial coin offering (ICO) that the SEC alleges is fraudulent. The announcement represents the first enforcement action by the SEC’s recently created cyber fraud unit.
In recent months, the SEC has been wrestling with what to do about ICOs. US securities laws impose a number of requirements on anyone who offers new investments to the public. ICOs—in which a company offers the public cryptocurrencies that could appreciate in value the way Bitcoin has—look a lot like securities offerings. But most ICOs have ignored the SEC’s requirements.
At the same time, the SEC is aware that new cryptocurrencies could become an important source of innovation. And some experts argue that many new cryptocurrencies—those that serve a useful function beyond their potential to grow in value over time—are not securities, legally speaking.
Proceeds from the sale will fund projects in Sierra Leone, whose government rejected an earlier bid of $7.8m.
The Ministry of Defence planned to destroy the dogs because it said they were too aggressive to rehome.
A firefighter scrambles to save a pet dog who ventured out on to thin ice in Canada.