China's financial institutions adopt cautious stance on AI amid U.S. discussions on emerging technologies
As concerns over developing artificial intelligence technologies rise, particularly regarding Anthropic's new AI model, Mythos, China's financial institutions are reportedly taking a measured approach. This comes as U.S. Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell convened with leading U.S. banks to address cybersecurity threats linked to AI. The discussions highlighted the urgent need for enhanced cybersecurity assessments to mitigate potential economic disruptions that could reach into the hundreds of billions of dollars. In a recent report by Bloomberg, sources indicated that Bessent and Powell held an emergency meeting with major banking heads to discuss the implications of... [Continue Reading]
360LiveNews | 10 Apr 2026 16:37 LONDON
US and UK Finance Regulators Meet to Strengthen Economic Stability Cooperation
On February 25, 2026, the US Department of the Treasury hosted the 12th meeting of the US-UK Financial Regulatory Working Group in Washington, DC. Participants included senior officials from key US agencies such as the Federal Reserve, SEC, FDIC, and UK regulators like the Bank of England and Financial Conduct Authority. The meeting centered on collaboration to enhance economic and financial stability amid global uncertainties. Issues addressed included regulatory approaches, market supervision, and systemic risk management. This session reaffirmed the importance of transatlantic regulatory alignment to safeguard financial markets and protect investors. The cooperation is crucial as both countries face... [Continue Reading]
Breaking-360LiveNews | 08 Apr 2026 14:45 LONDON
Bank of America agrees to $72.5 million settlement over allegations linked to Jeffrey Epstein's crimes
Bank of America has agreed to a $72.5 million settlement concerning allegations related to the crimes of convicted sex offender Jeffrey Epstein. This landmark agreement comes amid burgeoning legal actions against financial institutions accused of enabling Epstein’s illicit activities. The settlement, announced in recent court filings, is seen as a significant step towards addressing the grievances of Epstein’s victims. According to legal representatives, up to 75 women may potentially qualify for claims from the $72.5 million settlement. These women are part of a larger group believed to encompass hundreds of victims, many of whom have alleged that various financial entities... [Continue Reading]
360LiveNews | 04 Apr 2026 01:13 LONDON
