United States
Markets
The SEC approved the first 24hr exchange (subscription) offering round-the-clock trading.
Schroder’s published its Global Investor Insight Survey: 62% of advisers are optimistic about the next 1-2 years.
Regulation
The OCC has announced an increase in assessment rates for large financial institutions in 2025.
FINRA has published a research report on the implications of a future metaverse on the financial industry. The report includes a section on regulatory challenges, which is well worth reading as they are also applicable to other technologies currently under development.
FINRA has also published three video guides focused on some of the more complex aspects of key forms and templates:
- Completing the RSL question on Form U4
- Using the Non-registered locations with RSL Status Report Template
Acting Comptroller Michael J. Hsu testified on the state of the federal banking system before the house of representatives financial committee.
Australia
Australia’s parliament has approved legislation banning those under 16 from using social media. The legislation has been criticized as “broad and unclear”.
Canada
Canada’s Competition Bureau announced that it was taking legal action against Google for anti-competitive conduct in online advertising technology services in Canada. The company has increasingly found itself in the regulatory cross-hairs as a result of the dominant market position of its search engine.
China
Apple faces stringent regulatory barriers in introducing its AI technology in China.
EU
Sweden’s AI Commission has released a roadmap for secure and sustainable AI development, called ‘Roadmap for Sweden’, and identifies key components of a robust AI ecosystem. “Innovation and data protection can be combined,” said Eric Leijonram, director general at IMY (Swedish Data Protection Authority).
The European Commission plans to simplify its green regulations.
International
IOSCO has published three final reports this week:
- A final report on post trade risk reduction services provided by third parties to market participants
- A final report on a targeted review of the implementation of the principles for the regulation and supervision of commodity markets that includes recommendations for improving the implementation of specific elements of selected principles as well as proposals on further work in the OTC markets area
- A final report highlighting regulatory implications and good practices in the operation, governance and business models of exchanges
Switzerland
Swiss prosecutors charged private bank Lombard Odier and one of its employees with aggravated money laundering (subscription).
UK
The BoE released its Financial Stability Report highlighting the fact that global risks connected with geopolitical tensions, global fragmentation (in trade and international policy) and pressures on government debt levels remain material, increasing uncertainty and risk for the global economic outlook.
Two Bulgarians have pleaded guilty of being a Russian spy ring that was led by the former COO of Wirecard Jan Marsalek.
