Adobe's ambitious $20 billion bid to acquire cloud-based designer platform Figma is set to undergo a full-scale antitrust investigation by the European Union (EU), according to sources familiar with the matter. The decision follows EU regulators' preliminary review, expressing concerns about potential anti-competitive consequences of the deal.
Swiss bank UBS has been ordered to pay $388 million in fines to British and U.S. regulators as part of a settlement relating to Credit Suisse's dealings with private investment firm Archegos Capital Management. The settlement comes after UBS finalized its takeover of Credit Suisse last month, a deal that had been marked by a series of legal battles.
The U.S. Federal Deposit Insurance Corporation (FDIC) has called on certain banks to rectify inaccuracies in their financial statements, which reportedly led to the underreporting of uninsured deposits. The FDIC's action comes in the wake of the recent banking crisis, prompting regulators to draft new rules aimed at bolstering the industry's resilience.
StarCompliance, a leading global software-as-a-service (SaaS) provider of employee compliance technology solutions, has announced its acquisition of ETHIX360, a US-based provider of integrated risk and compliance management solutions. The acquisition expands StarCompliance's product suite, offering comprehensive compliance solutions for employee conflicts of interest and conduct.
The White House is taking action to attempt to harness the potential and manage the risks associated with Artificial Intelligence (AI). In a groundbreaking move, the White House has engaged seven leading AI companies – Amazon, Anthropic, Google, Inflection, Meta, Microsoft, and OpenAI – to secure voluntary commitments aimed at promoting safe, secure, and transparent development of AI technology.
The White House is calling on federal agencies to enhance their interactions with the public on regulatory activities, emphasizing the need for more proactive engagements with affected communities. In a memo released today by the White House Office of Information and Regulatory Affairs (OIRA), specific actions are outlined to improve public participation and community engagement during the regulatory development process.
The Federal Trade Commission (FTC) and the Department of Justice (DOJ) have jointly released a draft update of the Merger Guidelines, a crucial document that outlines the agencies' approach to reviewing mergers and acquisitions for compliance with federal antitrust laws. The proposed update aims to reflect the realities of the modern economy and how firms conduct business, while also evaluating proposed mergers under the law. Both agencies are encouraging public feedback during a 60-day comment period, demonstrating their commitment to transparency and public engagement.