Latest news with #OSC
Yahoo
a day ago
- General
- Yahoo
Trump nominates Paul Ingrassia to lead Office of Special Counsel
President Trump nominated former right-wing podcaster Paul Ingrassia to lead the Office of Special Counsel (OSC), a key role for protecting whistleblowers and enforcing laws against electioneering. Ingrassia is serving as a White House aide and formerly was a writer for the Daily Caller and hosted the podcast Right On Point. He is also an attorney and served on the legal team representing self-described misogynist Andrew Tate. 'I am pleased to nominate Paul Ingrassia to head the United States Office of Special Counsel (OSC),' Trump wrote on his social media site. 'Paul is a highly respected attorney, writer, and Constitutional Scholar, who has done a tremendous job serving as my White House Liaison for Homeland Security.' Ingrassia will take the reins of the OSC at a key time for the agency. Trump fired previous special counsel Hampton Dellinger, even after he was confirmed to a five-year term for the role under President Biden. Dellinger initially contested his firing and prevailed in court, staying in his post and forwarding challenges to Trump's plans for widespread firings of probationary employees — those hired within the past year or two. But an appeals court then declined to keep Dellinger in his role while the legal battle advanced, pushing him to quit. Without Dellinger on the job, the OSC has switched positions on cases now before the Merit Systems Protection Board — another board where Trump has sought to fire leadership appointed to several-year terms. That includes fighting to keep probationary workers in their roles. If confirmed, Ingrassia would also be responsible for enforcing the Hatch Act, which prohibits federal employees from campaigning for a candidate while on the job. During the first Trump administration, officials repeatedly ran afoul of the law, in particular then-aide Kellyanne Conway, who was cited for numerous violations. In his prior life as a conservative commentator, Ingrassia lavished praise on Tate, calling him the 'embodiment of the ancient ideal of excellence' for his 'sheer physical prowess' and being 'sharp as a tack' and full of 'willpower and spirit.' Tate has been charged with human trafficking in Romania as well as rape in the United Kingdom. Ingrassia has also pushed for Nick Fuentes, a far-right activist who has espoused white supremacist and antisemitic views, to be reinstated to Twitter, now known as X, calling it a First Amendment issue in a Substack post. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
a day ago
- Politics
- The Hill
Trump nominates Paul Ingrassia to lead Office of Special Counsel
President Trump nominated former right-wing podcaster Paul Ingrassia to lead the Office of Special Counsel (OSC), a key role for protecting whistleblowers and enforcing laws against electioneering. Ingrassia is currently serving as a White House aide but was formerly a writer for The Daily Caller and hosted the podcast Right On Point. He is also an attorney, and previously served on the legal team representing self-described misogynist Andrew Tate. 'I am pleased to nominate Paul Ingrassia to head the United States Office of Special Counsel (OSC),' Trump wrote on his social media site. 'Paul is a highly respected attorney, writer, and Constitutional Scholar, who has done a tremendous job serving as my White House Liaison for Homeland Security.' Ingrassia will take the reins of the OSC at a key time for the agency. Trump fired previous special counsel Hampton Dellinger, even after he was confirmed to a five-year term for the role under President Biden. Dellinger initially contested his firing and prevailed in court, staying in his post and forwarding challenges to Trump's plans for widespread firings of probationary employees – those hired within the last year or two. But an appeals court then declined to keep Dellinger in his role while the legal battle advanced, pushing him to quit. Without Dellinger on the job, the OSC has switched positions on cases now before the Merit Systems Protection Board – another board where Trump has sought to fire leadership appointed to several-year terms. That includes fighting to keep probationary workers in their roles. If confirmed, Ingrassia would also be responsible for enforcing the Hatch Act, which prohibits federal employees from campaigning for a candidate while on the job. During the first Trump administration, officials repeatedly ran afoul of the law, in particular then-aide Kellyanne Conway, who was cited for numerous violations. In his prior life as a conservative commentator, Ingrassia lavished praise on Tate, calling him the 'embodiment of the ancient ideal of excellence' for his 'sheer physical prowess' and being 'sharp as a tack' and full of 'willpower and spirit.' Tate has been charged with human trafficking in Romania as well as rape in the United Kingdom. Ingrassia has also pushed for Nick Fuentes, a far-right activist who has espoused white supremacist and antisemitic views, to be reinstated to Twitter, now known as X, calling it a First Amendment issue in a Substack post.
Yahoo
a day ago
- General
- Yahoo
Trump taps right-wing lawyer, former podcast host to lead the Office of Special Counsel
During Donald Trump's first term, the U.S. Office of Special Counsel was a routine annoyance. The OSC — not to be confused with appointed special counsels such as Jack Smith or Robert Mueller — frequently investigated allegations of misconduct and ethical lapses at the White House, which led to multiple findings related to Hatch Act violations. The president was apparently determined to bring the office to heel in his second term, which is why he fired Hampton Dellinger as the head of an independent ethics agency just a couple of weeks after his inaugural. This touched off a legal fight, which the White House ultimately won, and offered Trump an opportunity to choose a new OSC chief. We now know that he made an indefensible choice. In an item posted to his social media platform late Thursday, the president announced plans to nominate Paul Ingrassia to lead the office, describing Ingrassia, the current White House liaison for the Department of Homeland Security, as 'a highly respected attorney, writer, and Constitutional Scholar.' That can charitably be described as an incomplete description of what makes Ingrassia notable. The Washington Post reported: Ingrassia ... has publicly advocated for white supremacist and antisemite Nick Fuentes, publishing a Substack titled 'Free Nick Fuentes' and writing on X that 'dissident voices' such as Fuentes should have a place in conservative politics. He was also part of a legal team representing self-described misogynist influencer Andrew Tate, who has been charged with human trafficking and forming an organized-crime group in Romania, as well as rape, actual bodily harm and human trafficking in the United Kingdom. Earlier this year, Ingrassia likened Tate to 'the embodiment of the ancient ideal of excellence.' What's more, as The New York Times reported, Ingrassia also hosted a podcast, called 'Right on Point,' and in December 2020, as Trump tried to overturn the results of his election defeat, the podcast posted on Twitter that it was time for outgoing Republican president 'to declare martial law and secure his re-election.' In case that weren't quite enough, a CNN report from earlier this year noted that Ingrassia's podcast account also posted a quote from President John F. Kennedy the night of the Jan. 6 attack that read, 'Those who make peaceful revolution impossible, (will) make violent revolution inevitable.' The same CNN piece added, 'Ingrassia's tweets have likened Pence to Brutus and Judas, saying he belongs in the 'ninth circle of hell.' He has repeatedly called for expelling 'traitors' from the GOP.' The Atlantic noted that Ingrassia has called Nikki Haley, Donald Trump's former United Nations ambassador who ran against him, in the Republican primary, an 'insufferable b---h' who might be an 'anchor baby' too. After Trump announced his selection — which will require Senate confirmation — Ingrassia said online that he intends to 'make every effort to restore competence and integrity to the Executive Branch ... and Revitalize the Rule of Law.' Given his radical background, that seems extraordinarily unlikely. This article was originally published on
Globe and Mail
2 days ago
- Business
- Globe and Mail
OSC looks to improve access to private markets while investor advocate urges caution
The Ontario Securities Commission (OSC) is moving ahead with a project to make private market investment funds more accessible to investors, a proposal supported by asset managers while investor advocates raised concerns. The regulator said Thursday that it's developing a LaunchPad project through its innovation office to introduce new investment fund products with exposure to long-term assets. The project will allow firms to work with the OSC and receive exemptive relief to develop alternative investment funds for retail investors. The move follows a consultation seeking input on a framework to give individual investors access to 'long-term asset funds' comprised primarily of non-public assets. While many asset managers supported the proposal, other organizations raised concerns. The OSC's Investor Advisory Panel (IAP) said in its annual report released this week that it's concerned about the rising interest in alternative investment products, as private markets lack transparency and offer less investor protection than public markets. Any efforts to increase access to private markets should consider the risks to retail investors, it said. The OSC said Thursday that exemptive relief decisions under the project would require 'bespoke investor protection controls based on the specific details of each fund and product.' The IAP said in its submission to the OSC consultation that the 'nature and structure of long-term illiquid assets does not render them a suitable investment for a large swath of the retail investing public.' However, the IAP added in the submission that not all retail investors need to be restricted to public markets and that an allocation to 'long-term assets' within retirement plans may be suitable for investors with a long time horizon. If the OSC goes ahead with the proposed fund structure, the IAP recommends enhanced risk disclosure that explains the investments' illiquid nature and redemption costs clearly. The IAP also calls for clear fee structures that explain performance fees. OSC chief executive officer Grant Vingoe said the LaunchPad project would provide new opportunities for firms and investors while providing oversight and protection. 'The investment landscape is shifting, and retail investors are increasingly looking to diversify their portfolios,' he said in a news release. The IAP's annual report also noted concerns about unintended consequences from the client-focused reforms, which introduced enhanced know-your-client and know-your-product rules in 2021. Three of the big banks responded to the rules by restricting branch-level advisors and financial planners to selling their in-house proprietary products. The IAP warned that limited product shelves may 'reduce interest and investment in the advisory channel.' The panel also raised the issue of advisor titles causing confusion, especially at the bank branch level. '[A]n investor who speaks to a bank branch-level employee, who uses the term 'advisor' in their title, may conclude, based on that title, that the employee is required to act in the investor's best interest,' it stated in the report. 'These issues need to be addressed.' Broader lens: Technology stocks have rebounded sharply after being roiled by uncertainty and recessionary fears triggered by U.S. President Donald Trump's tariffs. Although fund managers are very upbeat on some of these mega-caps, they're also betting on other names to carry the tech baton. Shirley Won reports. Broader service: Clients have moved on from transactional relationships and are now demanding an advisor who is relational. But what exactly is a relational advisor? Julia Chung, co-founder and chief executive officer of Vancouver-based Spring Planning Inc., explains. Broader diversifiers: Most investors understand that diversification can help preserve portfolio values when markets are volatile. But an asset mix that worked during one market downturn may not have the same stabilizing effect in another. Brenda Bouw reports. Real estate: The co-founders of now-defunct syndicated mortgage company Fortress Real Developments Inc. have been found guilty of fraud after a lengthy criminal trial. Reinvest: Prominent Canadian business leaders with interests in the defence industry are calling for a major reinvestment in the sector in Canada, arguing the country can boost its prosperity and security in tandem. Rethink: Canada's business community is calling on Prime Minister Mark Carney to review the digital services tax that has triggered the U.S. government's proposed retaliatory taxes on Canadian companies and investors in U.S. securities. The proposal could cost investors who own U.S. securities up to $81-billion in additional taxes over seven years.
Yahoo
2 days ago
- Business
- Yahoo
OSC announces next steps on improving investor access to long-term assets
TORONTO, May 29, 2025 /CNW/ - The Ontario Securities Commission (OSC) today announced the introduction of a new OSC LaunchPad Long-Term Asset Fund Project aimed at bringing to market new investment fund products that provide exposure to long-term assets. The LaunchPad project is an opportunity for the OSC to work with firms seeking to develop investment funds that would provide retail investors with exposure to this alternative asset class. In response to stakeholder comments on an OSC consultation paper published in October 2024, the LaunchPad project aims to consider novel exemptive relief requests to permit alternative investment fund structures that provide retail investors with exposure to long-term assets. At the same time, it will explore and require bespoke investor protection controls based on the specific details of each fund and product. "The investment landscape is shifting, and retail investors are increasingly looking to diversify their portfolios," said OSC CEO Grant Vingoe. "The LaunchPad project is supporting new and innovative financial products that can enhance market efficiency and provide new opportunities for investors. Through this work we are bridging the evolving needs of investors and the growth aspirations of firms, all with the support and investor protection oversight of the OSC." The OSC encourages stakeholders to contact us regarding possible investment fund product structures that could increase opportunities for retail investor holdings of long-term assets while maintaining appropriate investor protections, and the exemptive relief that may be necessary to facilitate product launches. The LaunchPad project represents a close collaboration between the Investment Management Division and Office of Economic Growth and Innovation at the OSC. The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets, and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at Notes to Editors: In October 2024 the OSC announced a consultation on a new long-term asset fund product structure which aims to improve retail investor access to novel investment opportunities. The consultation proposes the creation of a new investment fund category, the Ontario Long-Term Asset Fund (OLTF), which would allow Ontarians to invest in assets they may not traditionally have exposure to. These assets include venture capital, private debt and equity, and infrastructure and natural resource projects. OLTFs could offer opportunities for more retail investors to participate in capital-intensive projects, while enabling businesses to lower funding costs and raise the capital necessary for growth. Follow us on X Follow us on LinkedIn SOURCE Ontario Securities Commission View original content:
