China’s ruling Chinese Communist Party (CCP) has replaced the head of its securities regulator, as public anger grows over the Chinese stock market crash. Meanwhile, the communist regime has resorted to administrative intervention to stop stocks from plunging. China’s stock market has continued melting down since the new year, reaching its lowest points in years […]
Some in the financial services industry are nervous about how the Supreme Court will rule in a payday lending industry challenge to the constitutionality of the Consumer Financial Protection Bureau (CFPB) that is being heard this week. A ruling against the powerful regulator in CFPB v. Community Financial Services Association of America (CSFA) (court file […]
More American companies may be on the chopping block in China. Regulators in China’s financial hub Shanghai summoned three firms including Starbucks and Shake Shack. The city’s cyberspace regulator said Wednesday that the summons was due to the companies collecting excessive personal information. In a statement, it urged the firms to protect personal information and […]
Sen. Jon Tester (D-Mont.) questioned panelists at a Senate hearing Thursday about bank executives taking bonuses while running failing institutions. As executives allegedly shirked their responsibilities to keep banks and the banking sector stable, Tester told the Senate Banking Committee hearing that regulators and law enforcement should hold the responsible parties accountable for the current […]
WASHINGTON—Treasury Secretary Janet Yellen met with banking regulators on Friday on the collapse of SVB Financial Group as she and the White House expressed confidence in their abilities to respond to the largest bank failure since the 2008 financial crisis. Yellen met with officials from the Federal Reserve, the Federal Deposit Insurance Corporation, and the […]
Russia’s media regulator on Wednesday blocked Google’s news aggregator service, accusing it of providing access to materials containing “unreliable” information about the Russian-Ukraine conflict. Roskomnadzor, the communications regulator, said it had acted on a request from the office of Russia’s prosecutor general. It said access to the online resource news.google.com has been blocked. “The American online […]
The European Union’s drug regulator has indicated that a change to the product information for COVID-19 vaccines from AstraZeneca and Johnson & Johnson has been recommended to include a warning of a rare spinal cord condition called transverse myelitis. TM is a rare condition that involves inflammation of one or both sides of the spinal cord. Symptoms […]
Chinese authorities are “working very hard” with U.S. counterparts to prevent Chinese firms from being delisted from U.S. stock exchanges, according to an official from China’s securities regulator, who warned that such delistings would be a setback for companies and relations with the United States. Discussions with U.S. counterparts on the delisting of Chinese firms […]
The U.S. Consumer Product Safety Commission (CPSC) said on Wednesday it has sued Amazon.com Inc to force the retailer to recall hundreds of thousands of hazardous products that it had distributed on its platform. By a 3–1 vote, the CPSC voted to file an administrative complaint saying the Seattle-based e-commerce giant was legally responsible to […]
