United States
Crypto
Key provision of GENIUS Act seeks to curb tech industry domination of stablecoins.
Tether to expand its US business after regulatory greenlight.
Data/Cybersecurity
Treasury sanctioned North Koreans involved in IT worker schemes.
Clorox filed a $380m suit against IT helpdesk manager Cognizant, blaming it for 2023 cyberattack.
Microsoft blamed Chinese state actors for Sharepoint breach.
Healthcare
George Tidmarsh, former pharma executive and Stanford professor, named head of Center for Drug Evaluation and Research, the FDA’s largest unit.
White House held meeting with tech executives and health officials to improve data exchange.
Regulation
The SEC designated current PCAOB board member George R Botic to serve as the agency’s Acting Chair.
The SEC announced a roundtable on trade-through prohibitions.
Federal bank regulatory agencies sought further public comment on interagency efforts to reduce regulatory burdens.
Technology
Meta stopped political and social issue advertizing in the EU in response to new regulations.
European Commission is set to give Apple favorable terms on App Store regulation.
Trump administration sought to boost AI sales to allies.
Canada
Ontario Securities Commission’s (OSC) compliance division released its annual industry report.
Canadian Securities Administrators (CSA) issued orders that would facilitate firms’ access to Bank of Canada reserve liquidity facility during a financial crisis.
The Canadian Investment Regulatory Organization (CIRO) passed its oversight review administered by the CSA; offered “medium priority” recommendations.
Canadian federal government mulls boosting deposit insurance from C$100,000 to C$150,000.
China
China seeks to curb intra-industry competition with new price controls.
China prepares to tighten regulations on intelligent-driving vehicles.
China drops antitrust investigation into sterile packaging material producer Tyvek, which was seen as a retaliatory measure to tariffs.
EU
EU looks to scale back even more environmental laws in response to industry criticism.
European Commission and Trump administration struck trade deal, put €100 billion ($116.7 billion) retaliation package on ice.
The European Central Bank approved a revised supervisory guide on internal models for market, credit, and counterparty risk.
Germany
Germany likely to avoid EU sanctions for overshooting deficit cap
Over 60 German companies launched “Made in Germany” investment initiative.
Hong Kong
The Hong Kong Monetary Authority imposed a HK$8.5 million ($1m) penalty on the Hong Kong branch of Indian Overseas Bank for deficiencies in anti-money laundering (AML) and counter-terrorist financing controls.
The US PCAOB revoked the license of Centurion ZD CPA & Co, a Hong Kong audit firm, and barred its owner, due to audit failures.
Hong Kong closed in on final stablecoin regulations.
Japan
Japan’s “slow” regulatory approval culture was blamed for crypto regulation stalls.
UK
The Financial Reporting Council investigated Deloitte over its auditing of commodity trading and mining company Glencore, which was fined $1.5 billion over accusations that it engaged in bribery and market manipulation.
The FCA is inviting Swiss and British companies to express their interest in cross-border services as it seeks to reduce regulatory burdens.
The former deputy CEO of asset manager H20 was fined $1m and banned from the securities industry by the FCA after he provided “false and misleading statements” during an investigation.
