Research from KU Leuven highlights that embedded browsers in devices like smart TVs, e-readers, and gaming applications are often outdated and lack security updates, leaving users vulnerable to cyber threats. Many devices ship with browsers several years behind current versions, and some manufacturers do not provide necessary security patches, raising concerns about device security and regulatory compliance. The study emphasizes the need for regulations to enforce timely updates and security measures for embedded browsers.
The U.S. Federal Reserve has closed formal notices requiring Citigroup to address trading risk management weaknesses, marking progress in the bank's efforts to improve oversight and control issues, including data inconsistencies and governance problems, amidst ongoing regulatory challenges.
Critics are raising concerns about whether proper safety and environmental regulations, especially regarding asbestos removal, were followed during the White House East Wing demolition, with questions about potential health risks and regulatory oversight.
Applovin's stock dropped 18% after Bloomberg reported that the SEC is investigating the company's data collection and targeting practices, raising concerns about regulatory compliance in the digital advertising industry.
The Division of Investment Management clarified that, under specific conditions, a State Trust Company can be treated as a 'bank' for custody of Crypto Assets and related cash or equivalents, provided it meets certain regulatory and operational standards, and the investment adviser or fund conducts due diligence and maintains proper agreements and disclosures.
The FCC accidentally leaked confidential schematics for the iPhone 16e, despite Apple's requests for secrecy, potentially exposing proprietary information to competitors, though the leak appears to be an unintentional error by the FCC.
Brian Daly has been appointed as the new Director of the SEC's Division of Investment Management, bringing extensive experience in legal and compliance roles within the investment industry, with a focus on overseeing industry regulation and investor relations.
A Wall Street Journal investigation revealed that 24% of Morgan Stanley's international wealth-management accounts are flagged as high risk for money laundering, highlighting the bank's weak anti-money-laundering controls. This raises concerns about the ultrarich exploiting loopholes in financial systems. The issue of money laundering is widespread, with significant increases in Europe, and other banks like TD Bank have also faced penalties for similar failures.
GM's Cruise self-driving car unit is facing probes from the US Department of Justice and Securities and Exchange Commission following an October collision involving one of its autonomous vehicles. The company has acknowledged a "failure of leadership" and vowed to reform its culture. A report commissioned by Cruise found mistakes in judgment and a lack of understanding of regulatory requirements. The incident led to the firing of executives, the resignation of the CEO, and a quarter of the staff being cut. The company is also facing fines and sanctions for not fully disclosing details of the incident.
Stanley PMI confirms that their popular tumblers contain a sealing material with "some lead," but assures consumers that no lead touches the surface of the products or comes into contact with beverages inside. The company states that the lead is sealed within the product and inaccessible to consumers unless the product is damaged or exposed to extreme conditions. They also emphasize compliance with US regulatory requirements and recommend regular cleaning of the tumblers, which have seen a surge in popularity but have sparked concerns about their safety.
GM's driverless car company Cruise is under investigation by multiple federal agencies and California regulators following an October crash involving a pedestrian. The company's response to the incident raised concerns, leading to the pause of its driverless ride-hailing services in all markets, the resignation of its CEO, and the hiring of an outside law firm to investigate. A scathing report from the law firm cited poor leadership, mistakes in judgment, lack of coordination, and a fundamental misapprehension of the company's obligations to the public as reasons for Cruise's failings.
Former head of security for Twitter, Alan Rosa, has filed a lawsuit against the company, Elon Musk, and adviser Steve Davis, claiming wrongful termination for protesting cost-cutting measures that hindered Twitter's ability to comply with regulatory demands. The lawsuit alleges that Davis, hired by Musk, immediately began cutting Twitter's products and services that supported compliance with the FTC Consent Decree. Rosa objected to these cuts, which included security applications and programs needed for law enforcement requests, and claims he was fired without reason or notice. This lawsuit follows previous legal disputes involving mass layoffs and refusal to pay for arbitration.
Binance, once the world's largest cryptocurrency exchange, and its CEO Changpeng Zhao (CZ) have pled guilty to criminal charges in the United States. This development marks a significant milestone in the cryptocurrency industry, as it signals the prosecution of major crypto-criminals and paves the way for legitimate businesses to thrive. The settlement agreement requires Binance to pay a record-breaking $4.3 billion penalty and undergo a five-year monitorship, which includes a complete exit from the United States. The future of Binance and its customer base remains uncertain, as the company must now navigate increased scrutiny and address outstanding charges from the Securities and Exchange Commission (SEC). Despite the negative impact on Binance, the price of Bitcoin rallied, suggesting that the digital asset class may be entering a new phase.
The FDA has issued a guidance document outlining the compliance policy for cosmetic product facility registration and cosmetic product listing. The agency intends to delay enforcement of these requirements for six months to allow the industry sufficient time to submit the necessary information. The guidance is not legally enforceable but provides recommendations and reflects the FDA's current thinking on the topic. Interested parties can submit comments on the guidance online or by mail.
Apple's upcoming iOS 17.1 update will fix an issue that made the iPhone 12 temporarily illegal in France due to exceeding the country's specific absorption rate (SAR) limits for on-body emissions. The French regulator, ANFR, had banned the sales of iPhone 12 in September after conducting SAR tests. Apple stated that the iPhone 12 meets SAR limits when worn or carried, but the ANFR's test protocol required compliance even when the device is tested off-body. The software fix will allow the iPhone 12 to pass the ANFR's on-body emissions threshold when tested off-body, enabling Apple to resume sales in France.
