United States
Cybersecurity
Mass layoffs of government cybersecurity professionals continue.
Data
Meta’s oversight board was “not consulted” (subscription) on the company’s drastic changes to content moderation.
Enforcement
The SEC may drop its lawsuit (subscription) against Coinbase according to the company.
ESG
Vanguard and Blackrock cancel or pause shareholder meetings in the wake of SEC ESG guidance.
Regulation
House Republicans provide recommendations to the FDIC on digital assets regulation, including how to prevent banks from denying services to digital asset firms.
FTC launches inquiry into allegations of big tech censorship.
SEC Commissioner Mark Uyeda speaks at the Judge Stanley Sporkin SEC Division of Enforcement Directors Panel, commenting on the bewildering speed of technological advancement.
Wells Fargo clears 10th consent order with the OCC. Four remain: two from the OCC, one from the CFPB, and one from the Federal Reserve.
China
China’s State Administration for Market Regulation will launch an investigation into Google over allegation of antitrust rule violations.
EU
The EU will force (subscription) ecommerce companies to cover the costs of processing fast fashion and food waste.
ESMA has launched a consultation on assessing the knowledge and competence of staff at crypto-asset service providers in order to ensure that some minimum standards apply to such employees.
International
IOSCO has released the results of its review of technological challenges to effective market surveillance. Multiple trade venue data and cross-border surveillance capabilities identified as two key concerns.
Japan
Japan approves stablecoin user-protection regulations that will make collateral management more flexible.
The US Food and Drug Administration and Japanese equivalent Pharmaceuticals and Medical Devices Agency (PMDA) met to discuss expedited review of medical technologies and pharmaceuticals.
Singapore
The Monetary Authority of Singapore (MAS) announced a series of measures intended to strengthen Singapore’s equities market.
Singapore’s SGX has benefitted (subscription) from a rise in demand and liquidity as a direct consequnce of late night policy statements made by President Trump.
UK
The CEO of Standard Chartered was deeply critical (subscription) of the now abolished UK cap on banker’s bonuses.
Apple will remove end-to-end encryption for users based in the UK in response to the UK government’s insistence on access rights (subject to a warrant being obtained by law enforcement).
Lloyd’s bank will set aside £1.2bn to cover potential compensation payments connected to the car finance mis-selling scandal in the UK.