The California Department of Financial Protection and Innovation has taken control of Silicon Valley Bank, with the FDIC appointed as receiver due to concerns of "inadequate liquidity and insolvency.
The annual publication of the worldwide threats to national security by the United States Intelligence Community has recognized Chinese cyber operations as one of the foremost threats to American national security.
Silvergate Bank has gone into liquidation, raising further concerns about rising volatility in the crypto sector.
A bipartisan bill, backed by the White House and introduced by a dozen U.S. senators on Tuesday, is proposing that the federal government initiate a process to systematically block foreign technology from reaching the domestic market when the technology poses a national security threat. The Restricting the Emergence of Security Threats that Risk Information Communications Technology (RESTRICT) Act could result in restrictions for the social media platform TikTok, which is owned by Chinese company ByteDance, according to its supporters.
A group of Senate Democrats, led by Elizabeth Warren, have urged financial regulators to take action against fraud related to Zelle, a peer-to-peer payments service owned by seven of the largest banks in the US through Early Warning Services.
The Securities and Exchange Commission (SEC) is the primary regulatory body responsible for overseeing and regulating the securities industry in the United States. As technology continues to advance, so too do the risks and threats associated with cybersecurity. In response to these evolving risks, the SEC is expected to finalize new cybersecurity oversight regulations later this year.
Jen Easterly, the head of the Cybersecurity and Infrastructure Security Agency, spoke at Carnegie Mellon University in Pittsburgh on Monday and called on the tech industry to take cybersecurity more seriously. Easterly urged the industry to prevent vulnerabilities from accumulating before products are shipped to the public. She criticized the practice of releasing products with "dozens, hundreds or thousands of defects" and called for an end to it.
Source: Wolters Kluwer
Wolters Kluwer, the Dutch technology company, will bring together four of its global enterprise software businesses to form a new division, Corporate Performance & ESG.
