In a Report on Objectives for Fiscal Year 2025, the SEC Investor Advocate and the Ombudsman warned of an increase in financial fraud driven by technological advancements and social media.
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In comments on a Cybersecurity and Infrastructure Security Agency proposal to implement the Cyber Incident Reporting for Critical Infrastructure Act of 2022, the ABA, Bank Policy Institute, IIB and SIFMA recommended substantial changes to limit the proposed scope of reportable incidents and reduce undue reporting burdens.
Witnesses before the House Financial Services Subcommittee on Capital Markets criticized the SEC's equity market structure proposals.
FINRA reminded member firms to comply with their regulatory obligations if they use generative AI or large language models in the course of their business.
In a 6-3 decision, the Supreme Court overturned the "Chevron" doctrine, which required the courts to defer to an agency's interpretation of statutes that are administered by the agency.