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Bakkt announced the appointment of Matt White as CFO, effective August 14, succeeding Karen Alexander, who has departed. White, who previously spent seven years at CoreCard, will oversee the company's transition to stablecoin infrastructure.
The U.S. Securities and Exchange Commission (SEC) announced on Friday that it will immediately and completely stop responding to no-action requests, including those from companies seeking to exclude shareholder proposals from proxy materials. This decision follows the SEC's absence from the process for most of the 2025-26 proxy season, and investor advocates have already filed lawsuits over it. The SEC stated that companies must still submit notices as required, but staff will no longer provide comments. This move is seen as part of a broader reform the SEC is considering for Rule 14a-8.
The crisis alpha of trend-following strategies is typically considered to have only defensive value, but recent research reveals that approximately 76% of their risk and 78% of their excess returns come from beta timing decisions. By replacing the relative value component with strategies of higher Sharpe ratios, it is possible to retain most crisis alpha characteristics while improving average returns, especially during stock market booms.
The U.S. Department of Justice announced Tuesday that Theodore Woo, the former CFO of a Miami hedge fund, has pleaded guilty to a multi-year embezzlement scheme. Woo exploited his position to steal over $3 million from his employer through falsified invoices, unauthorized transfers, and personal expenses on corporate credit cards. He is scheduled for sentencing on November 18 and faces up to 20 years in prison.
Deloitte's 2026 annual survey finds a significant gap between healthcare CFOs' expected involvement in key decisions and their actual readiness, particularly in consumer affordability and mergers and acquisitions, where the gap reaches up to 33 percentage points.
The Boulder County District Attorney's Office in Colorado arrested Cory Randall Hilliard, a former administrator at the University of Colorado Boulder, on Monday, charging him with embezzlement, causing a loss of $9,510.50 to the university. Hilliard currently serves as the Chief Financial Officer of USA Swimming and has been suspended by the organization.
Data released by the NFIB on Tuesday showed that US small business optimism rebounded in July after four consecutive months of decline, with the index rising to 99.8, the highest since August 2025. Twenty percent of surveyed businesses plan to expand hiring in the next three months, the highest level since October 2022. Meanwhile, concerns about labor quality have intensified, while inflationary pressures have eased somewhat.
A U.S. district judge on Monday approved an agreement allowing a forensic vendor to review the personal devices of Alex Anderson, a former CFO candidate at payment company Flexible Finance, to copy and preserve any company confidential information he may hold. This stems from a civil lawsuit filed by Flex, alleging that Anderson misappropriated trade secrets during interviews and transmitted them to his current employer, competitor Split Pay.
Financial AI projects often fail because the data scale exceeds the model's processing capacity, leading to incorrect answers. This article analyzes the reasons and proposes four principles and three questions to ask before purchasing.
The "2026 State of AI Cost Governance Report" released by AI cost management company Mavvrik reveals that 62% of surveyed organizations substantially altered business decisions in the past year due to unexpected AI costs, with 40% requiring board-level intervention, 33% implementing emergency spending freezes, and 25% postponing or canceling AI projects. The report notes that token consumption is becoming a significant component of corporate operating costs, yet only 11% of companies can keep AI spending forecast errors within ±10%.