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The Silicon Valley Start-Up That Caused Wall Street Chaos NY TIMES Robinhood pitched itself to investors as the antithesis of Wall Street. It didn’t say that it also entirely relies on Wall Street. This past week, the two realities collided. read more » Does Robinhood owe too much to its rich backers? THE GUARDIAN

Porsche orders stop-sale on certain models for performance option causing excess emissions BUSINESS INSIDER

SEC issues warning as GameStop short-selling war resumes REUTERS The U.S. Securities and Exchange Commission waded into the battle between small investors and Wall Street hedge funds on Friday, warning both brokerages and the pack of social media traders that it was closely monitoring potential wrongdoing.

Millions earmarked for public health emergencies were used to pay for unrelated projects, inspector general says WASHINGTON POST Federal officials repeatedly raided a fund earmarked for biomedical research in the years leading up to the covid-19 pandemic, spending millions of dollars on unrelated salaries, administrative expenses and even the cost of removing office furniture, according to the findings of an investigation into a whistleblower complaint shared with The Washington Post.

Volkswagen asks U.S. Supreme Court to reverse ruling on local emissions claims REUTERS Volkswagen AG and a German auto supplier on Tuesday asked the U.S. Supreme Court to reverse a lower-court ruling that said two counties could seek financial penalties over excess diesel emissions that could total billions of dollars.

Wall Street Insider Turned Tough Market Cop: Biden's Pick to Head SEC NPR

CBS Suspends Two Executives Accused of Racist and Sexist Conduct NEW YORK TIMES CBS has placed two top TV executives on leave after a report detailing accusations that they had created a hostile work environment, including making disparaging remarks about female and Black employees.

VW will appeal $20M Spanish diesel compensation ruling AUTO NEWS EUROPE A Spanish court has ordered Volkswagen to pay 16.3 million euros ($19.8 million) in compensation to people in Spain who bought cars with emissions-cheating devices installed, consumer group OCU said. VW will appeal the ruling, a company spokesman said.

Former Insys exec John Kapoor gets 5 1/2 years for opioid scheme CNBC John Kapoor, 76, the former chairman of Insys Therapeutics, was sentenced to five and a half years in prison in Boston’s federal court. A jury found him guilty of racketeering conspiracy last May and prosecutors said his actions helped fuel the opioid crisis.

Death of diesel looms as carmakers accelerate to electric future REUTERS The world’s biggest diesel engine factory in Tremery, eastern France, is undergoing a radical overhaul - it’s switching to make electric motors. From less than 10% of output in 2020, electric motor production at Tremery will double to around 180,000 in 2021, and is planned to reach 900,000 a year - or more than half the plant’s peak pre-pandemic output - by 2025.

Attorney General Becerra Announces $40 Million Nationwide Settlement with Apria Healthcare STATE OF CALIFORNIA DEPARTMENT OF JUSTICE

Asia Argento Accuses ‘Fast And The Furious’ Director Rob Cohen of Sexual Assault VARIETY Asia Argento is making fresh accusations of sexual abuse against “The Fast and the Furious” director Rob Cohen.

Ex-VW Manager Released Early From Diesel-Rigging Prison Term BLOOMBERG Former Volkswagen AG executive Oliver Schmidt, whose 2017 arrest at the Miami airport made global headlines, was released from prison after serving a bit more than half his sentence on charges related to the diesel-emissions scandal.

Allison Herren Lee Named Acting Chair of the SEC SEC The Securities and Exchange Commission announced today that President Joseph R. Biden, Jr. has designated Allison Herren Lee as Acting Chair of the agency.

Georgetown University academic Chris Brummer in lead for CFTC chair REUTERS Georgetown University academic Chris Brummer has emerged as the leading candidate to chair the Commodity Futures Trading Commission (CFTC), according to three people with knowledge of the discussions. The White House is expected to make an announcement on that and other financial regulator roles soon, one of the people said. read more »

Volkswagen faces EU fine for missing 2020 emissions targets REUTERS Volkswagen faces a fine of more than 100 million euros ($121 million) for missing EU targets on carbon dioxide (CO2) emissions from its 2020 passenger car fleet, the world’s largest carmaker said on Thursday. Volkswagen admitted in 2015 to cheating emissions tests on diesel engines, a scandal that has cost it more than 30 billion euros in regulatory fines and vehicle refits, mostly in the United States. read more »

Ex-Coach Sentenced to 10 Years for Raping Star Skater NEW YORK TIMES A former national speedskating coach in South Korea was sentenced on Thursday to more than a decade in prison on charges of raping an Olympic athlete.

Space Force delays deal to ‘further evaluate’ contractor found to have acted fraudulently WASHINGTON POST

Harvey Weinstein can be questioned in accusers’ civil lawsuit, judge rules REUTERS A federal judge in Manhattan on Tuesday rejected Harvey Weinstein's request to delay a deposition in a civil lawsuit by women who accused the imprisoned movie producer of sexual abuse and workplace harassment.

Gary Gensler, Biden's pick to head SEC, has reputation as tough regulator NBC In nominating Gary Gensler to serve as chairman for the Securities and Exchange Commission, President-elect Joe Biden is likely to please progressives, who have been agitating for more bank oversight after four years of deregulatory policy under President Donald Trump’s SEC pick, Jay Clayton, who stepped down in December.