United States

Compliance

The CFTC announced four whistleblower awards totaling $4.5m, the most ever released in a day. Whistleblowers included fraud victims, a market participant, and an internal compliance/audit specialist.

Technology

U.S. House introduces HR 9720, tasking NIST with Updating AI Vulnerability guidelines. The bill aims to bolster the federal government’s ability to respond to AI security risks stemming from the complexity and unpredictability of the underlying models.

The Biden admin proposes a ban of Chinese and Russian car hardware and software. The ban seeks to limit foreign manufacturing involvement for vehicles that can communicate through Wi-Fi, Bluetooth or satellite, with officials citing national security risks.

Mira Murati leaves Open AI as ChatGPT company pivots away from its nonprofit roots.

CrowdStrike executive apologizes for the company’s faulty update that led to a global IT outage and caused chaos worldwide.

Australia

First tranche of reforms to the Privacy Act 1988 strengthening Australia’s privacy framework introduced to Parliament. One part will be to require the Office of the Australian Information Commissioner to develop a new Children’s Online Privacy Code to enhance privacy protections for children in the online environment.

China

China’s politburo meets to address economic growth.

Saudi Arabia

The Kingdom is preparing to increase its oil output and may abandon its current unofficial price target.

United Kingdom

UK Chancellor to formally tell the FCA that it needs to prove that is acting to promote the expansion of the UK financial services sector.