United States
AI
The director of the Copyright Office was fired by President Trump. The dismissal closely follows the publication of a report addressing the implications of AI on copyright and the licensing market.
xAI has missed a self-imposed deadline for the publication of its AI safety framework.
Crypto
Coinbase was the latest victim (subscription) of a cyberattack with hackers bribing and recruiting overseas support agents in order to steal customer data. The entity refused to pay the $20m demanded by the hackers to prevent its public disclosure.
SEC and FINRA withdraw joint statement on broker-dealer custody of of digital asset securities.
Cybersecurity
CISA pauses its plans to overhaul cybersecurity advisory system.
House members show strong support for reauthorizing the Cybersecurity Information Sharing Act of 2015.
Data
The Kids Online Safety Act (KOSA) has been revived in the Senate. The bill would require online platforms to protect children.
In another policy shift the CFPB has decided not to introduce (subscription) new rules limiting the ability of US data brokers to sell sensitive information about Americans.
Regulation
The FTC will defer the compliance deadline of the Negative Option Rule or, as it is more widely known, the “click-to-cancel” rule, which was intended to ensure that consumers were easily able to cancel subscriptions.
Trump revives his controversial “most favored nation” plan to reduce drug prices.
US regulators to scale back bank capital requirements.
China
Nvidia plans to build (subscription) a R&D center in Shanghai signaling its continuing commitment to doing business in the country.
Canada
WonderFi, a Canadian digital asset company was acquired by Robinhood, which is attempting to grow market share in Canada.
ISDA extends digital regulatory reporting platform to cover new rules in Canada.
Ontario to boost its regulatory enforcement capacity.
Denmark
The Novo Nordisk CEO has been asked (subscription) to step down by the company board following a slump in share price and loss in market share for its weight loss jab to competitors.
EU
The EU is preparing to tighten (subscription) financial sector sanctions against Russia by targeting third-party banks supporting its economy.
ECB taskforce will propose capital neutral measures to simplify Europe’s banking rulebook by the end of the year.
Hong Kong
The HK SFC has “steered Asia-Pacific securities regulators to reach an agreement on closer collaboration to combat online investment scams” in meetings held at the IOSCO Annual meeting held this week in Doha, Qatar.
India
President Trump has said that he does not want Apple to be building its phones in India – a widely reported move by the company in response to the tariff war between the US and China.
Singapore
The MAS is proposing measures that would ease the listing process for issuers in Singapore by streamlining prospectus requirements.
Sweden
Sweden lost its second national security adviser this year in embarrassing circumstances, after the latest candidate resigned hours into the job because of sensitive pictures of him on the dating app Grindr.
Switzerland
Switzerland is following the EU’s lead in tightening (in German) sanctions against Russia, including the expansion of list of prohibited goods and a ban on the export of chrome ores as well as purchase and import of unwrought Russian aluminum.
UK
The UK CMA will investigate the proposed acquisition of the Direct Line Insurance group by Aviva.
A former tax adviser at the BGC Group who took part in a large scheme to defraud the broker-dealer has been jailed for trying to evade repaying his former employer.
Bank of London discloses investigation by the Prudential Regulation Authority.
