Wells Fargo to Pay $1 Billion to Settle Investor Lawsuit
Wells Fargo will pay $1 billion as part of the settlement of a lawsuit filed by investors in connection with the situation with authorized customer accounts.
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China Reportedly Plans to Ban on Use of iPhone in State Firms and Agencies
The media reported that the Chinese authorities plan to expand the scope of the ban on the use of smartphones of the iPhone line, which is currently applied to secret units, by extending this restrictive measure to agencies that receive government support and state-owned companies.
EU Names Six Tech Giants to Comply With DMA
The EU regulators have come up with a list of so-called gatekeepers with enough market power to report their core platform services to the European Commission under the Digital Markets Act (DMA)
Google Tentatively Settles Play Store Antitrust Suit
Alphabet has tentatively settled claims that Google Play is involved in the practice of abusing its powers to control mobile apps designed for devices running on the Android operating system.
FTC Reportedly to Sue Amazon
The media reported that the US Federal Trade Commission (FTC) is likely to sue Amazon in the near future.
Big Tech Braces for European Union’s Clampdown on Anti-Competitive Practices
Big technology companies are preparing for the largest and most significant tightening clampdown on anti-competitive practices in the history of the European Union.
Robinhood Reaches Agreement with U.S. Marshal Service to Repurchase Shares from Emergent Fidelity Technologies
Virtual brokerage company Robinhood has reached an agreement with the U.S. Marshal Service (USMS) to buy back shares of Sam Bankman-Fried’s Emergent Fidelity Technologies.
Fed Warns Goldman Sachs Over FinTech Risk
The Federal Reserve issued a warning to Goldman Sachs about risk control and compliance with regulatory requirements in the unit of the investment bank specializing in financial technologies.
French Regulator Searches Worldcoin Paris Office
The French data regulator CNIL this week conducted searches at the regional Worldcoin office, which is located in Paris.
British Parliamentarians Question Prospects of UK Leadership in AI Regulation
In the United Kingdom, parliamentarians said that the country’s Prime Minister Rishi Sunak’s plan to make the UK a leader in the regulation of artificial intelligence is under threat.
Baidu Reportedly to Get China Approval for AI Models
The media reported that this week China will approve the first batch of generating artificial intelligence services for public implementation.
Microsoft’s President Says AI Needs Human Control
Microsoft President and Vice Chairman Brad Smith, while talking to the media, said that people should curb artificial intelligence, because it can become a weapon.
SEC Accuses Wells Fargo of Overcharging Nearly 11,000 Investment Accounts With Advisory Fees
The Securities and Exchange Commission on Friday, August 25, reported that Wells Fargo has for many years used the practice of illegally overcharging almost 11,000 investment advisory accounts in the amount of about $27 million.
TD Bank Cooperates With Regulators on Anti-Money Laundering Issues
TD Bank announced cooperation with regulators and law enforcement agencies in the framework of the proceedings concerning the lender’s compliance with the provisions of the normative base defining the legal principles of combating money laundering.
China Fines US Firm Mintz Group
China has fined the American company Mintz Group, which specializes in corporate legal expertise.
China Aims to Expand Government Control To Metaverse
China is reportedly looking to implement a system with digital IDs and real-world punishments for actions in the Metaverse
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