United States
Cybersecurity
SonicWall, a cybersecurity solutions provider, advised customers that hackers were exploiting a vulnerability in one of its remote access products, showing that even companies specializing in cybersecurity are themselves vulnerable to hacking.
The systems of New York Blood Center Enterprises, a major blood distributor, were successfully breached in a ransomware attack impacting national blood supplies.
Data
Blackstone still optimistic about data center investment despite DeepSeek disruptions.
Enforcement
Wise, a London-listed fintech, has been ordered to pay $2.5m to the CFPB for a “series of illegal actions, including advertising inaccurate fees and failing to properly disclose exchange rates and other costs.”
WAMCO capital outflows cross $121b after former CIO Ken Leech was charged in November with fraud for alleged cherry picking scheme.
ESG
22 Republican state financial officials call on the SEC and DoL to restrict ESG options for asset managers.
Regulation
In a very strongly worded press release, new FTC Chairman Andrew Ferguson announced that “DEI is over at the FTC” calling it a “scourge” on US institutions.
New York Governor Hochul takes on overdraft fees.
Trump set to place 25% tariffs on Mexico, and Canada, and 10% tariffs on China.
CFPB director Rohit Chopra urges regulatory action be taken to prevent debanking.
Meta is discussing changing its state of incorporation from Delaware to Texas. Elon Musk made the same move after receiving an unfavorable decision by Delaware’s Court of Chancery on his $55b compensation package.
Activist short-seller Andrew Left calls on SEC to provide regulatory clarity from the SEC to safeguard investors’ First Amendment rights to comment on securities.
China
Hong Kong’s Securities and Futures Commission has stated that it will authorize leveraged and inverse exchange traded funds tracking single stocks overseas (subscription) with a maximum leverage capped at 2x or negative 2x.
EU
Cracked and Nulled, two of the world’s largest cybercrime forums, playing a major role in offering cybercrime-as-a-service, were “seized” by European crime enforcement agencies, including those in Germany.
EU seeks simplification of its regulatory scheme.
International
The IFRS Foundation has published a new guide to help companies reporting climate-related information only under the ISSB “climate-first” transition relief.
Japan
The UK and Japan held the 3rd Financial Regulatory Forum in London. Sustainable finance, asset management, capital markets and digital finance including AI were all topics discussed by representatives of the FSA, HMT, BoE and FCA.
Japan’s FSA issued a business improvement order against AEON Bank citing “inappropriate business operations and problems” with its AML/CFT program, including inadequate suspicious transaction monitoring.
Switzerland
Former Trafigura COO sentenced (subscription) to 32 months in jail after being convicted by a Swiss court for paying more than €5mn in bribes to secure oil trading contracts in Angola between 2009 and 2011.
UK
The UK government has proposed easing restrictions on the way that pension schemes are managed in order to enable them to invest more actively in the UK economy. The Pensions Regulator (TPR) expressed support for the government’s plans.
AstraZeneca scrapped its plans to build a vaccine manufacturing plant in northern England citing “a cut in British government support”.
