Investing in cryptocurrency has been compared to gambling and should be subject to regulation, according to a demand made by MPs. The Treasury Select Committee has expressed concern over the significant risks posed to consumers by cryptocurrencies due to their volatile prices and the potential for financial losses. In a report, MPs argue that regulating …
The Prime Minister has received a letter from Britain’s largest banks, urging Rishi Sunak to hold Facebook-owner Meta and other American tech companies accountable for refunding individuals who fall victim to scams on their platforms. In an effort to combat online fraud, the banks, including Barclays, HSBC UK, NatWest, and TSB, emphasize the need for …
The European Union has taken a strong stance against Google, intending to dismantle its extensive advertising business in their ongoing conflict with the tech giant. Margrethe Vestager, the EU’s competition chief, announced a “statement of objections” on Wednesday, accusing Google of using illegal tactics to dominate the online ad market and overcharge advertisers. The EU …
Doctors and pharmacists are receiving lengthy pamphlets for prescription drugs, but efforts to digitize this information are gaining traction. A bill in Congress aims to eliminate the need for paper inserts by allowing drugmakers to provide up-to-date digital information. Advocates argue that medical professionals already consult electronic versions and discard the paper inserts. Those in …
This quarterly report provides updates on cyber regulations issued by various regulatory bodies, such as the U.S. Securities and Exchange Commission and the New York Department of Financial Services. It also highlights recent developments in the EU-U.S. Data Privacy Framework, notable enforcement actions, and expert perspectives. Regulatory Updates U.S. Securities and Exchange Commission: In March …
An upcoming review by the Competition and Markets Authority (CMA) is set to examine the issue of declining competition in fuel prices. The CMA acknowledges that while the conflict in Ukraine has contributed to the rise in wholesale costs, it believes that the increasing pump prices cannot be solely attributed to external factors beyond the …
With Brazil’s struggle to establish a regulated carbon market, the country’s new president aims to implement a fresh approach in replacing his predecessor’s unsuccessful strategy. However, achieving success is still uncertain. President Luiz Inácio Lula da Silva’s administration is finalizing a proposal for a new regulated cap-and-trade system, which he plans to submit to Congress …