-
SEC drops SolarWinds cyber case
The Securities and Exchange Commission has dismissed its high-profile lawsuit against SolarWinds and its Chief Information Security Officer, Timothy Brown, over the 2020 Russia-linked Sunburst cyberattack. The case, filed in 2023, accused the firm of hiding security flaws but faced judicial pushback and industry criticism. A joint motion to dismiss with prejudice was filed Thursday….
-
Fed’s Miran wants a reworking of bank rules
Federal Reserve Governor Stephen Miran has called for a reworking of Wall Street regulations before policymakers weigh other economic questions around the central bank’s balance sheet. “For many years, financial regulation mostly moved in one direction, increasingly restricting the banking sector,” Miran said, going on to observe that there was regulatory over-reach following the 2008…
-
SEC drops emphasis on crypto sector exams for 2026
The Securities and Exchange Commission has ditched its focus on the oversight of companies offering crypto asset-related services for 2026, according to the regulator’s annual statement. The SEC’s Division of Examinations said it would focus on fiduciary duty, standards of conduct, and asset custody as well as new requirements for customer data privacy, among other…
-
Bank of New York Mellon launches stablecoin fund
The Bank of New York Mellon Corp. has launched the BNY Dreyfus Stablecoin Reserves Fund to help stablecoin issuers comply with the new GENIUS Act, which mandates that dollar-backed digital tokens hold reserves in ultra-safe, short-duration assets. Anchorage Digital has made an initial investment, as part of a broader partnership with Tether to develop a…
-
Amazon, Microsoft back AI chip limits
Amazon and Microsoft are supporting the Gain AI Act, legislation that would restrict Nvidia’s ability to export AI chips to China unless U.S. demand is met first. The bill, which benefits cloud giants by ensuring chip access and easing export rules to friendly regions, has exposed a rare rift with Nvidia, their major supplier. Nvidia…
-
Burger King to expand in China
Chinese asset manager CPE will invest $350m to support Burger King’s expansion in China. The joint venture aims to increase the number of restaurants from 1,250 to over 4,000 by 2035. CPE will own 83% of the venture, while Restaurant Brands International (RBI) will hold 17%. RBI chief executive Joshua Kobza said: “CPE is a…
