United States

Fintech / Regtech

Italy ChatGPT Ban Prompts Broader Scrutiny of AI Tools

By Manesh Samtani | 12/04/2023

Taiwan is exploring the use of AI tools by banks. China has issued draft rules for AI development. The US is exploring accountability mechanisms for AI systems.

Big Picture

Report Examines Policy Implications of US Bank Bailouts

By Mark Johnston | 11/04/2023

Congressional Research Service report examines policy issues raised by the systemic risk exception invoked for SVB and Signature Bank.

Crypto / Digital Assets

New FTX Report Reveals Extent of Control Failures

By Manesh Samtani | 11/04/2023

FTX stored private keys in plain text documents without encryption on an FTX group server that was accessible by staff.

Sanctions

China Sanctions US Organisations over Taiwan Presidential Visit

By Editors | 11/04/2023

China sanctioned the Ronald Reagan Presidential Library and US think tank Hudson Institute for hosting Taiwan President Tsai Ing-wen last week.

Enforcement

US State Regulators Fine Robinhood for Causing Investor Harm

By Editors | 11/04/2023

Robinhood disseminated inaccurate information to customers and did not have a reasonably designed customer identification programme, among other failures.

Market Infrastructure

Taiwan, Canadian Regulators Cross-border Clearing MoU

By Editors | 10/04/2023

The MoU supports TAIFEX’s application for recognition as an exempted clearing agency in Ontario, which will enable Canadian FIs to use its clearing service.

Enforcement

US Authorities Charge Fintech Founder for Defrauding JPMorgan

By Editors | 10/04/2023

The fintech founder fraudulently induced JPMorgan to acquire her startup in September 2021 by making up data, the SEC said.

Enforcement

US Authorities Fine Microsoft for Export Control, Sanctions Breaches

By Manesh Samtani | 09/04/2023

Microsoft’s Russia-based employees ordered software licenses in the names of parties not on the Entity List, to be used by designated persons.

ESG / Sustainability

DWS Targets Climate With Largest Ever US ETF Launch

By Editors | 09/04/2023

The passive fund began trading on the NYSE with $2bn of assets, backed by Finnish pension insurance company Ilmarinen.