US SEC seeks to ban former core FTX executives from being directors or executives of listed companies for 8-10 years

Comparatively, the US Securities and Exchange Commission (SEC) has today submitted a “final consent judgment” proposal against Caroline Ellison, former CEO of FTX affiliate Alameda Research, Gary Wang, former chief technology officer of FTX, and Nishad Singh, former chief engineer.

According to the settlement agreement, Ellison agreed to accept a 10-year ban on executives and directors, while Wang and Singh agreed to an 8-year ban. None of the three have denied the SEC's allegation that they violated the anti-fraud provisions of the securities law. The case stemmed from fraudulent investor practices that were revealed after FTX went bankrupt in November 2022.