United States
Compliance
Cambridge International Securities was censured and fined for alleged failings in the supervision of foreign associates. An interesting case summarized by GRIP here.
Teva Pharmaceuticals has agreed to a $450m settlement over charges that it payed out illegal kickbacks.
Pharmaceutical middlemen accuse FTC members of bias in ongoing insulin price inflation lawsuit.
Crypto
A US court has authorized the disbursement of $16.5bn in refunds to US customers of collapsed crypto exchange FTX.
Data
Marriott and Starwood will need to implement a “comprehensive security program” following three large data breaches impacting more than 344m customers.
There was further evidence (subscription) that conspiracy theories and misinformation spread on social media platforms have a material detrimental impact on things as vital as recovery efforts from hurricanes.
A bipartisan group of 14 state attorneys general sue Tiktok over allegations that it is harming minors’ mental health.
Short-selling firm Hindenburg research sets target on Roblox for inflating user data.
Economy
JPMorgan quarterly profits beat expectations (subscription) as did BlackRock’s revenues (subscription) as a result of a surge of assets under management demonstrating continuing robustness in the economy.
Senator Elizabeth Warren leads push to strengthen bill that would limit private equity firms’ ability to “loot” healthcare institutions.
European Union
Regulation
ESMA published its 2025 work programme and capital markets along with ESG and market transparency will be areas of focus for the regulator.
Asia
AI
The Indian government has launched an initiative, BharatGen, to incorporate AI into the lives of citizens and equip government agencies with the technology. You can also read GRIP’s story on this latest Indian initiative here.
And next door to India, Chinese AI startups are working hard to make their way into the US market due to lower consumer numbers and tough competition at home.
