We recently saw in the US Regulatory Intelligence newsletter an interesting speech from the UK on how artificial intelligence (AI) could impact financial stability.

SEC Chair Gary Gensler and CFTC Chair Rostin Behnam advocated for annual budget increases to bolster cybersecurity, IT modernization and market oversight.

The PCAOB (i) amended the "culpability" standard for finding that an individual contributed to the negligence of an audit firm; (ii) amended an auditing standard for regulating the use of technology in audits; and (iii) proposed a new auditing standard that would regulate "substantive analytical procedures."

The SEC reported that the US District Court for the Southern District of Texas granted the SEC's application to enforce a subpoena for the production of documents in connection with its efforts to determine if crypto asset "LGBCoin," (aka "Let's Go Brandon Coin") is a security.

An introducing broker settled FINRA charges for unfair markups and markdowns in corporate bond transactions.