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SEC approves generic listing standards for commodity-based trust shares
The move streamlines exchange-traded product listings, paving way for faster approval of digital asset and commodity funds, but shifting oversight burdens to exchanges.
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GRIP Extra: SEC to cut enforcement staff by 17%, Wells Fargo freed from asset cap
Our in-brief roundup also includes Bristol Myers Squibb and BioNTech in a drug partnership, Reddit suing Anthropic for using its data, and BlackRock being removed from Texas blacklist.
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GRIP Extra: TikTok fined €530m, Kohl’s CEO dismissed
Other news includes the CFPB moving to scrap Biden-era medical debt credit reporting exemption, the EU reciprocally seizing billions of Russian funds, and the DOJ accusing CVS, Humana, Elevance of paying kickbacks.
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GRIP Extra: Morgan Stanley fires head of commodities, US investigates Chinese companies
Other news includes an EU fine against Meta and Google, massive ESG investment outflows, and the OCC and FDIC signaling crypto regulation overhauls.
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GRIP Extra: Healthcare data breach compromises millions, Trump threatens to fire Powell
Other news includes Truth Social asking SEC to investigate Qube over short position, US Supreme Court approves relaxed pleading standard for ERISA claim, China mulls letting Western firms operate as ETF market makers.
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FCA concerned about conflicts of interest at firms managing private assets
Dear CEO letter to asset managers also highlights market integrity and consumer outcomes as key supervisory priorities.
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GRIP Extra: PwC reduces partners in China, Thailand liberates scam center hostages in Myanmar
Other news includes Republican resolutions to overturn CFPB overdraft caps, ESMA launching a consultation on simplified private securitization disclosures, and a hefty CFTC crypto fraud fine.
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CFTC amends investor safeguard rules
Amendments include permitting certain sovereign debt investments and the replacement of LIBOR with SOFR.