Podcasts about market regulation

Lina Khan recently concluded her term as one of the Biden administration's most controversial leaders. Her tenure as chair of the Federal Trade Commission raised the profile of the relatively obscure antitrust agency charged with protecting competition. Her anti-monopoly outlook and more aggressive enforcement strategies, particularly toward Big Tech market power and protecting workers, earned the ire of the business community and the dedicated vitriol of the Wall Street Journal editorial board.Khan began her term as the youngest-ever appointee of the FTC. She initially rose to prominence for her 2017 Yale Law Journal article, “Amazon's Antitrust Paradox,” which went viral among the antitrust community for its argument that scholars and regulators must look beyond prices to understand what constitutes a harm from a lack of competition, especially in today's digital economy where many services are nominally provided for free to consumers. Fresh out of law school, Khan appeared on a Capitalisn't episode in our first season and wrote for our sister publication at the Stigler Center, ProMarket, as far back as 2018. She also delivered two keynote addresses at the Stigler Center's annual Antitrust and Competition Conferences while FTC chair.On this episode, Khan returns to Capitalisn't to reflect on her tenure, her vision of capitalism, and how her approach to enforcing existing laws with new thinking may have impacted the everyday lives of Americans. How does she respond to her critics, who include major Democratic business leaders? How does she view the new Trump administration, which is continuing many of her transformative policies, including revised merger guidelines and major lawsuits? As a senator, Vice President JD Vance said she was “one of the few people in the Biden administration actually doing a pretty good job.” Reflecting on her work, Khan also touches upon how conflicts of interest among corporate lawyers and consultants, former bureaucrats, and academics distort policymaking, court rulings, and market outcomes. Finally, she highlights the antitrust issues to pay attention to moving forward, such as algorithmic collusion.Show Notes: Also, check out ProMarket's series on the future of the Neo-Brandesian movement, of which Lina Khan is an emblematic figure.

This episode features CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from April 1 to May 6, 2025.

China fired off a sweeping package of robust countermeasures on Friday—including a 34 percent tariff hike and rare earth export controls—in response to the latest round of sweeping tariffs adopted by the administration of United States President Donald Trump.上周五，中国推出了一系列强有力的反制措施，包括提高34%的关税和稀土出口管制，以回应美国总统唐纳德·特朗普政府采取的最新一轮大规模关税。More forceful and precise counterstrikes are still in Beijing's pocket if Washington persists with its unilateral trade bullying, several sources confirmed to China Daily.据多位消息人士向《中国日报》证实，如果华盛顿方面继续单边贸易霸凌，北京方面仍有可能采取更强力、更精准的反击措施。As approved by the State Council, the country's Cabinet, China will impose an additional 34 percent tariff on all US-origin imports starting on April 10. Simultaneously, the Ministry of Commerce and the General Administration of Customs announced immediate export restrictions on seven key medium to heavy rare earth elements, as China Daily first reported on Thursday.经国务院批准，中国将从4月10日起对所有原产于美国的进口产品征收34%的额外关税。据《中国日报》周四率先报道，商务部和海关总署同时宣布立即对七种关键的中重稀土元素实施出口限制。These elements—samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium—are crucial elements for manufacturing key products used in semiconductor, defense, aerospace and green energy.这些元素——钐、钆、铽、镝、镥、钪和钇——是制造半导体、国防、航空航天和绿色能源所用关键产品的关键元素。Citing their dual-use nature in both military and civilian industries, a spokesman for the Commerce Ministry said: "Imposing export controls on them is a common international practice. As a responsible major country, China's decision to regulate these items reflects its consistent position of firmly safeguarding world peace and regional stability."商务部发言人表示，这些元素涉及军民两用领域，“实施出口管制是国际通行做法。中国作为负责任大国，决定对这些产品实施管制，体现了坚定维护世界和平和地区稳定的一贯立场。”Other measures include filing a lawsuit with the World Trade Organization over the US' "reciprocal tariffs", launching an industry competitiveness investigation and an anti-dumping investigation regarding imported medical CT tubes from the US and India, adding 16 US entities to the export control list and 11 US companies to the unreliable entity list, and canceling import qualifications for certain US companies.其他措施还包括就美国“对等关税”向世界贸易组织提起诉讼、启动产业竞争力调查以及对原产于美国和印度的进口医用CT射线管发起反倾销调查、将16家美国实体列入出口管制名单、将11家美国公司列入不可靠实体名单、取消部分美资企业的进口资格等。Tu Xinquan, dean of the China Institute for WTO Studies at the University of International Business and Economics in Beijing, said that such rapid, intensive and multi-pronged countermeasures are unprecedented in the world's history, proving that China will not sit back amid unilateral bullying tariffs.对外经济贸易大学中国世界贸易组织研究院院长屠新泉表示，如此迅速、密集、多管齐下的反制措施在世界历史上前所未有，表明中国不会坐视单边霸凌关税的威胁。"This isn't just tit-for-tat. These countermeasures, including both tariff and nontariff measures, aim to directly hit the weak spots of the US to make it feel the real pain," said Tu.“这不仅仅是针锋相对，这些包括关税和非关税措施的反制措施，都是要直击美国的薄弱环节，让其真正感受到痛点。”屠新泉说。Bai Ming, a researcher at the Chinese Academy of International Trade and Economic Cooperation, said that China, as the world's second-largest economy, has taken the lead in resisting US trade protectionism.中国商务部国际贸易经济合作研究院研究员白明表示，中国作为世界第二大经济体，在抵制美国贸易保护主义方面走在了前列。"These countermeasures are not only to protect China's own interests, but also to safeguard the stable operation of the global trading system," he emphasized.“这些反制措施不仅是为了维护中国自身的利益，也是为了维护全球贸易体系的稳定运行。”他强调。The State Administration for Market Regulation, China's top market regulator, also announced on Friday night that it has launched an investigation into DuPont China, a subsidiary of the US company DuPont, for suspected monopolisticpractices in violation of China's Anti-Monopoly Law.中国国家市场监督管理总局周五晚间宣布，已对美国杜邦公司旗下的杜邦中国有限公司展开调查，理由是其涉嫌违反中国《反垄断法》的垄断行为。All of the moves came after China, a major trading partner of the US, was hit with a 34 percent so-called reciprocal tariff by the Trump administration on Wednesday, in addition to a 20 percent tariff imposed earlier this year.这一系列举措是在中国这一美国主要贸易伙伴遭到特朗普政府周三加征所谓34%的“对等关税”之后采取的，此前美国已在今年早些时候对中国加征了20%的关税。Further counterstrikes could include tightening export controls on more critical raw materials vital for US high-tech manufacturing, new energy transformation and defense projects, and further escalating the blocking of key technologies used in extracting and processing strategic minerals, said two sources close to the matter, who asked for anonymity.两位要求匿名的知情人士表示，进一步的反击措施可能包括加强对美国高科技制造、新能源转型和国防项目至关重要的原材料的出口管制，并进一步加大对战略矿产开采和加工关键技术的封锁。China accounts for at least 85 percent of rare earth refining, 77 percent of cobalt refining, 82 percent of tungsten production, 80 percent of antimony processing capacity, and 90 percent of the world's synthetic graphite production. These are all critical materials for defense, new energy batteries, semiconductors and advanced manufacturing.中国占全球稀土精炼产能的至少85%，钴精炼产能的77%，钨产量的82%，锑加工产能的80%，以及人造石墨产量的90%。这些都是国防、新能源电池、半导体和先进制造业的关键材料。Beyond nontariff measures, China could still adopt additional tariffs on certain US products, particularly agricultural goods. Having already imposed tariffs on key US farm products, China is weighing further increases, another source added.除了非关税措施外，中国还可能对某些美国产品，特别是农产品征收额外关税。另一位消息人士补充说，中国已经对美国主要农产品征收关税，并正在考虑进一步提高关税。Chen Wenling, former chief economist at the China Center for International Economic Exchanges, said, "China could follow the cases of countries like Canada and levy tariffs on US products in a high range of 250 percent to 390 percent according to different situations."中国国际经济交流中心前首席经济学家陈文玲表示：“中国可以效仿加拿大等国家的做法，根据不同情况对美国产品征收250%至390%的高额关税。”The latest tariff from the Trump administration is provoking a strong global reaction.特朗普政府的最新关税政策引发了全球强烈反应。International Monetary Fund Managing Director Kristalina Georgieva warned that the sweeping tariffs presented "a significant risk to the global outlook at a time of sluggish growth".国际货币基金组织总裁克里斯塔利娜·格奥尔基耶娃警告称，在经济增长乏力的背景下，这种大规模关税举措“给全球前景带来重大风险”。Ngozi Okonjo-Iweala, director-general of the World Trade Organization, expressed deep concern on Thursday over the decline in global trade and the potential for an escalating tariff war sparked by US tariff measures. Iweala said in a statement that the US tariff measures will have "substantial implications for global trade and economic growth prospects".世界贸易组织总干事恩戈齐·奥孔乔-伊维拉周四对全球贸易下滑以及美国关税措施引发关税战升级的可能性表示深切担忧。伊维拉在一份声明中表示，美国关税措施将“对全球贸易和经济增长前景产生重大影响”。Michael Hart, president of the American Chamber of Commerce in China, has said that AmCham China is not in favor of widespread tariffs, and it advocates constructive dialogue and policy predictability to reduce volatility in trade relations.中国美国商会会长迈克尔·哈特表示，中国美国商会不赞成大规模征收关税，主张建设性对话和政策可预测性，以减少贸易关系的波动。Quoting a report from the chamber that more than half of its member companies said they plan to increase investments in China this year, he said that ensuring that businesses can operate competitively and with greater certainty benefits both countries' economies and supports global economic stability.他援引商会的一份报告称，超过一半的会员公司表示计划今年增加对华投资，他说，确保企业能够更具竞争力和确定性地运营，有利于两国经济，并支持全球经济稳定。Oliver Zipse, board chairman of BMW, said: "Economic growth thrives through opening, not closing. The increase of protectionist behavior will not create winners, but will result in a situation where everyone is going to lose prosperity. At BMW, we strongly oppose tariffs or other trade barriers."宝马集团董事长奥利弗·齐普策表示：“经济增长靠的是开放，而不是封闭。保护主义行为的增加不会创造赢家，而会导致所有人都失去繁荣。宝马坚决反对关税或其他贸易壁垒。”unilateraladj.单边的multi-prongedadj.多管齐下的tit-for-tat针锋相对monopolistic practicen.垄断行为trade barrier贸易壁垒

This episode features CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from March 4 to April 1, 2025. This includes two updates to CII's Policies on Corporate Governance (on reincorporation and stealth dual-class stock) and CII's recent advocacy efforts in the Delaware legislature opposing Senate Bill 21.

This episode features CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from February 5 to March 4, 2025, including an in-depth Q&A covering the SEC's new guidance on submitting 13D and 13G filings as it applies to institutional investors.

As the financial industry continues to evolve, it's important to stay ahead of emerging risks and trends. On this episode of FINRA Unscripted, the leaders of FINRA's new Strategic Intelligence and Analytics (StratIntel) team discuss how they are working to identify and analyze these industry developments.On this episode, we sit down with the leaders of the StratIntel team: Senior Vice President of Data and Analytics for Member Supervision Jim Reese, and his two Vice Presidents, Brita Bayatmakou and Clint Johnson. The three share insights on how this new team is evolving FINRA's approach to intelligence gathering and risk monitoring, and the innovative ways they are using data and analytics to support FINRA's mission of investor protection and market integrity.Resources mentioned in this episode:2025 Regulatory Oversight Report3110. SupervisionEpisode 168: Investing Wisely in 2025: Avoiding Scams and Achieving Your Financial GoalsEpisode 169: Unpacking FINRA's 2025 Regulatory Oversight Report Find us: X / YouTube /LinkedIn / Facebook / E-mail

This episode features CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from January 7 to February 5, 2025.

China will impose additional tariffs ranging from 10 to 15 percent on US products, and launch an anti-monopoly probe into Google Inc, as well as other trade measures amid growing trade tensions with the United States.随着中美贸易关系日益紧张，中国将对美国产品加征10%至15%的额外关税，并对谷歌公司启动反垄断调查，同时还将采取其他贸易措施。An additional 15 percent tariff will be imposed on coal and liquefied natural gas imports from the US, as well as an additional 10 percent tariff on crude oil, agricultural machinery, large-displacement automobiles and pickup trucks, starting on Feb 10, the Customs Tariff Commission of the State Council said on Tuesday.2月4日，国务院关税税则委员会表示，自2月10日起，中国将对从美国进口的煤炭、液化天然气加征15%的额外关税，对原油、农业机械、大排量汽车、皮卡加征10%的额外关税。The move followed the US announcement that it would impose an additional 10 percent tariff on goods imported from China.此举是在美国宣布将对从中国进口的商品加征10%的额外关税之后作出的。The Finance Ministry said the unilateral imposition of tariffs by the US seriously violates the rules of the World Trade Organization, fails to solve the US' own problems, and undermines normal economic and trade cooperation between the two countries.财政部表示，美方单边加征关税的做法严重违反世界贸易组织规则，不仅无益于解决自身问题，也对中美正常经贸合作造成破坏。"The additional tariffs announced by China will cast a shadow on a significant number of US companies. Once a US company withdraws from the Chinese market due to tariff pressures, the obstacles in terms of reestablishing a presence can be substantial," said Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation.商务部国际贸易经济合作研究院高级研究员周密指出：“中国宣布加征额外关税将给大量美国公司带来阴影。一旦某个美国公司因关税压力而退出中国市场，它想重新进入市场将会面临巨大阻碍。”Zhou added that the attractiveness of the Chinese market remains a powerful draw for those US companies, prompting calls for Beijing and Washington to engage in open and constructive discussions and find a path forward that addresses the concerns of the businesses of both sides while upholding their respective economic interests.周密还表示，中国市场对这些美国公司来说仍然具有强大吸引力，这促使北京和华盛顿进行开放性和建设性讨论，找到一条既能解决双方企业关切又能维护各自经济利益的前进道路。US President Donald Trump told The Wall Street Journal on Monday that he planned to speak with the Chinese leadership in the next 24 hours about tariffs, and Trump also said the 10 percent planned tariffs were just "an opening salvo".2月3日，美国总统唐纳德·特朗普在接受《华尔街日报》采访时表示，他计划在未来24小时内与中国领导人就关税问题进行讨论，并称计划加征的10%关税只是“初步行动”。As trade tensions with the US escalate, China has filed a lawsuit with the WTO's dispute settlement mechanism to defend its legitimate rights and interests. China firmly opposes the US approach and urges the US to immediately correct its wrong practices, the Ministry of Commerce said on Tuesday.随着中美贸易紧张局势的升级，中国为捍卫自身合法权益，已向世界贸易组织争端解决机制提起诉讼。2月4日，商务部表示，中方对美方做法坚决反对，敦促美方立即纠正错误做法。China has also announced a group of export control policies on key minerals. The Ministry of Commerce said that since Tuesday, it has added tungsten, tellurium, bismuth, molybdenum and indium-related items to the export control list.中国还宣布了一系列针对关键矿产的出口管制政策。商务部表示，自2月4日起，将钨、碲、铋、钼、铟相关物项纳入出口管制清单。The Commerce Ministry also put US clothing company PVH Corp and biotechnology company Illumina Inc on its unreliable entity list. China will take corresponding measures against the two companies in accordance with relevant laws and regulations.商务部还将美国服装公司PVH集团和生物技术公司因美纳公司列入不可靠实体清单，并表示将依据相关法律法规对这两家公司采取相应措施。"The two companies violate normal market trading principles, interrupt normal transactions with Chinese enterprises, take discriminatory measures against Chinese companies and seriously damage the legitimate rights and interests of Chinese firms," the ministry said in a statement.商务部在一份声明中表示：“这两家公司违反正常的市场交易原则，中断与中国企业的正常交易，对中国企业采取歧视性措施，严重损害中国企业合法权益。”The State Administration for Market Regulation, China's top market regulator, said on Tuesday that it has initiated an investigation into US tech giant Google Inc for suspected violations of China's Anti-Monopoly Law.2月4日，中国国家市场监督管理总局表示，已对美国科技巨头谷歌公司涉嫌违反《中华人民共和国反垄断法》展开立案调查。Luo Zhiheng, chief economist at Yuekai Securities, said China should resort to effective countermeasures against any tariff threats by the White House, while optimizing domestic policies and anchoring market expectations.粤开证券首席经济学家罗志恒表示，中国应针对白宫提出的任何关税威胁采取有效反制措施，同时优化国内政策、稳定市场预期。"Based on the experiences gained during the first Trump administration, China can utilize measures such as imposing additional tariffs and export controls to counter trade threats from the US," Luo said.罗志恒说：“参考特朗普第一任政府期间的经验，中国可以采取加征额外关税和出口管制等措施来应对美国的贸易威胁。”He added that China should continue to broaden the list of sanctioned goods and entities, and increase Beijing's negotiation leverage with Washington.他还表示，中国应继续扩大商品和实体清单制裁范围，并增加北京与华盛顿的谈判筹码。Given heightened global uncertainties, China should scale up the intensity of its fiscal and monetary policies, actively expand domestic demand to counter any potential downturns in external demand, and steadily push forward high-level opening-up, expand networks with trade partners and diversify its trade portfolios, Luo said.罗志恒认为，鉴于全球不确定性上升，中国应加大财政货币政策的力度，积极扩大内需以对冲外需可能的下滑，同时稳步推进高水平对外开放，扩大中国的贸易“朋友圈”，大力拓展对外贸易多元化。discriminatoryadj.歧视的，区别对待的

As a self-regulatory organization, information sharing is key to FINRA's pursuit of its mission of investor protection and market integrity. The 2025 FINRA Regulatory Oversight Report provides just that: Critical insights to help firms strengthen their compliance and protect investors.On this episode, hosted by Member Relations and Education Vice President Kayte Toczylowski, FINRA's regulatory leaders— Executive Vice President and Head of Member Supervision Greg Ruppert, Executive Vice President and Head of Market Regulation and Transparency Services Stephanie Dumont, and Executive Vice President and Head of Enforcement Bill St. Louis—join us to dive into the report's takeaways and insights for member firms.Resources mentioned in this episode:2025 Regulatory Oversight ReportSEC Regulation Best Interest (Reg BI)5310. Best Execution and InterpositioningReg Notice 20-31: FINRA Reminds Firms of Their Supervisory Responsibilities Relating to CATInvestor Insights: Artificial Intelligence (AI) and Investment FraudEpisode 168: Investing Wisely in 2025: Avoiding Scams and Achieving Your Financial Goals Find us: X / YouTube /LinkedIn / Facebook / E-mail

This episode features CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from December 3, 2024, to January 7, 2025.

The State Administration for Market Regulation says the number of registered business entities in China rose over three percent to nearly 190 million by the end of 2024.

No one should question China's resolve to continue to promote high-quality opening-up through the rule of law. It is mainly thanks to the consistent legislative efforts China has made over the years to safeguard the legitimate rights and interests of foreign enterprises that the country has turned itself into one of the world's top destinations for foreign direct investment.任何人都不应质疑中国继续用法治推进高质量开放的决心。中国发展成为全球外商直接投资首选地之一，得益于多年来中国不断通过立法维护在华外企合法权益。Those who want to use the antitrust probe the Chinese authorities have launched into US chipmaker Nvidia as a pretext to point an accusing finger at China for allegedly politicizing the business environment for foreign companies are not only turning a blind eye to the facts of the case, but also taking a double standard when it comes to antitrust scrutiny.那些想以中国当局对美国芯片企业英伟达发起反垄断调查为借口，指责中国涉嫌将外国公司的商业环境政治化的人，不仅无视了事实，还在反垄断调查上持双重标准。The investigation that China's top market regulator initiated on Monday into Nvidia for suspected monopolistic behaviors has caught a lot of media attention given the high-profile position the company holds as the world's leading chip producer and a key player driving the artificial intelligence revolution.12月9日，中国国家市场监管总局对英伟达涉嫌垄断行为的调查引起了媒体的广泛关注。英伟达作为全球芯片行业巨头，在推动全球AI革命中扮演着关键角色。While much of the Western media have portrayed the probe as a tactical move in the Sino-US trade war ahead of the new US administration taking office or tried to link it with what they hype up as intensified geopolitical rivalry focused on a battle for AI dominance between the two countries, the actual reason is more prosaic. According to the State Administration for Market Regulation, Nvidia is suspected of violating China's Anti-Monopoly Law, as well as the commitments it made in 2020 after it acquired Israeli chip manufacturer Mellanox Technologies in 2019.多家西方媒体报道称，在美国新政府上台前对英伟达展开调查，是中国对中美贸易战采取的一项战术性措施；还有媒体试图对此进行炒作，称调查与中美两国争夺AI发展主导权而导致地缘竞争日渐激烈有关。然而，真正原因很简单：据中国国家市场监管总局，英伟达涉嫌违反《反垄断法》及其于2020年完成收购以色列芯片企业迈络思科技时的承诺。The merger further strengthened Nvidia's market dominance in the semiconductor field, which might have the effect of excluding or restricting competition in the global and Chinese markets for GPU accelerator, dedicated network interconnection equipment and high-speed Ethernet adapter. Nvidia therefore submitted to China some measures to resolve the competition problems making clear commitments, including that it should continue to supply Nvidia GPU accelerators, Mellanox high-speed network interconnection equipment and related software and accessories to the Chinese market after the deal, based on "fair, reasonable and nondiscriminatory principles". After that, China approved the transaction.英伟达收购迈络思，进一步巩固了英伟达在半导体行业的领导地位。此项集中对全球及中国GPU加速器、专用网络互联设备、高速以太网适配器市场，具有或可能具有排除、限制竞争效果。为此，英伟达提交了解决该交易带来竞争问题的措施，作出了明确承诺，其中就包括交易双方和集中后实体“应依据公平、合理、无歧视原则”向中国市场继续供应英伟达GPU加速器、迈络思高速网络互联设备和相关软件、配件。经评估，中国国家市场监管总局批准了该交易。Yet, Nvidia has stopped supplying a number of GPU accelerator products to China in recent years on the grounds of the US government's export controls. This action has infringed upon the legitimate rights and interests of relevant Chinese enterprises. Therefore, it is not surprising that Nvidia is under investigation for allegedly violating antitrust laws. Article 46 of the Anti-Monopoly Law stipulates that antitrust enforcement agencies are authorized to investigate and take action against suspected monopolistic behaviors. Effectively implementing the conditions attached to the merger approval is both a proactive commitment from Nvidia and a legal obligation.但近年来，英伟达以美国政府不断扩大半导体出口管制为由，陆续停止了多款GPU加速器产品对中国的供应，侵害了中国相关企业合法权益。英伟达涉嫌违反《反垄断法》规定，对其立案调查也在意料之中。《反垄断法》第四十六条规定，反垄断执法机构依法对涉嫌垄断行为进行调查。有效执行审查决定附加的限制性条件，既是英伟达的主动承诺，也成为了其法定义务。In fact, Nvidia is also facing an antitrust investigation in the United States, as the Justice Department is looking into claims that Nvidia is potentially cornering the market and pressuring its customers to unfairly retain business. That includes allegations of Nvidia threatening to punish those who buy products from both itself and its competitors at the same time. The European Union's antitrust regulators are also investigating Nvidia for possible unfair sales practices.事实上，英伟达在美国也面临反垄断调查。美国司法部正对英伟达展开了反垄断调查，评估英伟达是否垄断市场，阻止客户使用竞品。有指控称，英伟达威胁客户，若同时从英伟达及其竞争对手购入商品，将受到惩罚。同时，欧盟反垄断监管机构也在调查英伟达可能存在的不公平销售行为。That Nvidia has so far responded in a low-key way—saying only "we are happy to answer any questions regulators may have about our business"—points to the confidence it has in China's legal environment. Actually, the company has taken China as one of its key global markets, with about 16 percent of its revenue coming from the country, second only to its US-generated revenue, according to data firm FactSet. Nvidia's Chief Executive Officer Jensen Huang has called China "a very important market for the technology industry", and warned there would be "enormous damage" to the US companies if they were unable to trade with China.迄今，英伟达低调回应此次反垄断调查，表示：“我们很乐意回答监管机构对我们业务提出的任何疑问”，显示出对中国法治化营商环境的信心。实际上，英伟达已将中国视为其重要国际市场之一，据FactSet的数据显示，英伟达约16%的收入来自中国，仅次于美国。英伟达CEO黄仁勋曾表示，中国市场“对科技产业非常重要”，并警告称，若无法与中国贸易，美国企业将遭受“巨大损失”。China has made it one of its top priorities to attract and use foreign investment. That it attracted 1.13 trillion yuan ($158.7 billion) in foreign investment in 2023, the third-highest in history, as compared with 941.52 billion yuan in 2019, is an indication that the country still enjoys strong competitiveness in the global investment market.中国把吸引和利用外资作为政策重点之一。2023年，中国实际使用外资金额为1.13万亿元人民币（约1587亿美元），处于历史第三高，与2019年的9415.2亿元相比，表明中国在全球投资市场上仍享有强大竞争力。Contrary to any attempts to use the Nvidia investigation as a means to discredit China's efforts to create a level playing field for foreign businesses, the probe shows that China's business environment operates under the law. As it has affirmed on many occasions, the country will continue to develop a market-oriented, legalized and internationalized first-class business environment in which foreign companies can enter the Chinese market and share the country's development dividends.对英伟达展开反垄断调查，不仅不能抹煞中国为在华外企营造公平竞争环境的努力，反而凸显出中国法治化的营商环境。正如中国在各种场合多次重申的那样，中国将继续营造市场化、法治化、国际化一流营商环境，欢迎外企来华，共享中国发展红利。prosaicadj.乏味的;平淡无奇的hypen.（新闻媒体的）大肆宣传，炒作dividendn.红利，股息

Behind every market transaction lies a wealth of data. But how can we harness this information? On this episode, we sit down with two members of the Market Regulation and Transparency Services team, Senior Vice President of Strategic Regulatory Engagement Alex Ellenberg, and Senior Director of Transparency Services Equities Brendan Loonam. They join us to discuss periodic aggregate market data sets, including some new data recently added to FINRA's website, and how FINRA makes this information available to the public in support of its mission of investor protection and market integrity.Resources mentioned in this episode:FINRA DataOTC Transparency DataNMS Equity and Option Order Routing Reports (SEC Rule 606(a) Reports)About NMS Equity and Options Routing Reports (SEC 606(a) Reports)OTC (ATS & Non-ATS) TransparencyReg Notice 23-10: FINRA Requests Comment on a Proposal to Require Members to Provide Rule 605 Order Execution Quality Reports to FINRA for Centralized PublicationEpisode 149: MRTS 2.0: A Redesign for a Rapidly Evolving Market Find us: X / YouTube /LinkedIn / Facebook / E-mail

US equity markets declined ahead of the latest inflation figures tonight AEST - Dow retreated for a fourth straight session, down -154-points or -0.35%. Nvidia Corp fell -2.69%, extending its two-day slide to over >5% after China's State Administration for Market Regulation said it was investigating the company over possible violations of the country's antimonopoly law, opening an investigation into the chipmaker in relation to the acquisition of Mellanox and some agreements made during the acquisition. Nvidia's revenue in China totalled US$13.5B in the past four quarters, accounting for ~12% of its global total, according to The Wall Street Journal (WSJ). Caterpillar Inc (-2.72%) and Merck & Co Inc (-2.69%) both fell over >2.5%. Boeing Co rallied +4.50% after the aerospace giant said it had restarted production of its 737 MAX jets. Production was paused for more than 12 weeks because of a seven-week labour strike that began in mid-September and settled in early November.

US equity markets declined ahead of the latest inflation figures tonight AEST - Dow retreated for a fourth straight session, down -154-points or -0.35%.  Nvidia Corp fell  -2.69%, extending its two-day slide to over >5% after China's State Administration for Market Regulation said it was investigating the company over possible violations of the country's antimonopoly law, opening an investigation into the chipmaker in relation to the acquisition of Mellanox and some agreements made during the acquisition. Nvidia's revenue in China totalled US$13.5B in the past four quarters, accounting for ~12% of its global total, according to The Wall Street Journal (WSJ). Caterpillar Inc (-2.72%) and Merck & Co Inc (-2.69%) both fell over >2.5%. Boeing Co rallied +4.50% after the aerospace giant said it had restarted production of its 737 MAX jets. Production was paused for more than 12 weeks because of a seven-week labour strike that began in mid-September and settled in early November.

US equity markets retreated, with the S&P 500 and Nasdaq pulling back from record closing highs set last Friday (6 December) - Dow fell -241-points or -0.54%, with International Business Machines (IBM) Corp (down 3.38%) and Travelers Companies (-3.53%) both down over >3%. Nvidia Corp fell -2.55% after China's State Administration for Market Regulation said it was investigating the company over possible violations of the country's antimonopoly law, opening an investigation into the chipmaker in relation to the acquisition of Mellanox and some agreements made during the acquisition.

US equity markets retreated, with the S&P 500 and Nasdaq pulling back from record closing highs set last Friday (6 December) - Dow fell -241-points or -0.54%, with International Business Machines (IBM) Corp (down 3.38%) and Travelers Companies (-3.53%) both down over >3%.  Nvidia Corp fell  -2.55% after China's State Administration for Market Regulation said it was investigating the company over possible violations of the country's antimonopoly law, opening an investigation into the chipmaker in relation to the acquisition of Mellanox and some agreements made during the acquisition.

This episode features CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from November 5 to December 3, 2024.

This episode features CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from October 1 to November 5, 2024.

China will implement a batch of policies, including those addressing financing and credit, to support small and micro-sized enterprises, platform firms and unicorns, so as to help them expand business and unleash vitality, it was announced on Monday at a conference by the State Council, the nation's Cabinet.10月14日，国新办举行新闻发布会，宣布中国将实施一系列融资信贷等政策，支持小微企业、平台企业和独角兽企业发展，帮助它们拓展市场、释放活力。Buoyed by such signals of support for the private sector, share prices rose in China on Monday. The CSI 300, an index of large companies traded in Shanghai and Shenzhen, closed 1.9 percent higher. The ChiNext Index, which tracks China's Nasdaq-style board of growing and emerging enterprises, gained 2.6 percent.受这些支持民营经济信号的提振，14日，中国股市上涨。沪深300指数收盘涨1.9%，追踪中国版纳斯达克成长型和新兴企业的创业板指涨2.6%。Luo Wen, head of the State Administration for Market Regulation, the country's top market regulator, said that the country will work to introduce innovative quality financing and credit enhancement policies to ease financing challenges for SMSEs.国家最高市场监管部门——国家市场监督管理总局局长罗文表示，中国将创新实施质量融资增信政策，帮助缓解小微企业融资困难问题。Under such policies, financial institutions will factor in a company's quality management and brand reputation when issuing loans. Together with equity, funds and bond-based financing tools, the country aims to generate a credit enhancement and financing quota of 300 billion yuan ($42 billion) each year, Luo said.罗文介绍，根据这些政策，金融机构在发放贷款时将考虑企业的质量管理和品牌信誉。股权、基金、债券等融资工具组合发力，国家每年可以实现质量融资增信授信额度3000亿元。Luo emphasized that the SAMR will roll out a guideline to guide platform operators to help merchants on the platform enhance brand awareness, increase market transactions and harness traffic.罗文强调，市场监管总局将出台指导意见，引导平台企业帮助其平台上的商户提升品牌知名度、增加市场交易量和利用流量。It will help businesses, especially new entrants, agricultural firms and some unique companies on the platform, to enhance their ability to utilize online traffic more efficiently and tap into larger audiences, he added.罗文补充，这将帮助企业商户提高流量利用效率、挖掘更多受众，尤其是对新入驻经营主体、农产品经营主体和特色经营主体。Beyond SMSE support, Wang Jiangping, vice-minister of the Ministry of Industry and Information Technology, said the ministry will collaborate with the China Securities Regulatory Commission to launch the third batch of specialized boards for "little giant" companies in regional equity markets.工业和信息化部副部长王江平表示，除了扶持小微企业，工信部将联合证监会推出第三批区域性股权市场“专精特新”专板以支持“小巨人”企业。Little giant companies refer to small and medium-sized enterprises that typically specialize in niche sectors, command high market shares and boast strong innovative capacity. By the end of June this year, China had cultivated 12,000 such enterprises. 所谓“小巨人”企业，是指专注于细分领域、市场占有率高、创新能力强的中小型企业。截至今年6月底，中国已培育了1.2万家这样的企业。The ministry also plans to sign a strategic cooperation agreement with the Beijing Stock Exchange to further streamline financing channels for these firms, Wang said.王江平补充，工信部还计划与北交所签订战略合作协议，进一步畅通专精特新中小企业资本市场融资渠道。At the conference on Monday, Wang said that China is also placing a greater emphasis on developing unicorn companies — startups valued at over $1 billion — in emerging high-tech fields such as 6G and brain-computer interfaces.在14日的新闻发布会上，王江平表示，中国也将更加重视独角兽企业（即估值超过10亿美元的初创企业）在6G、脑机接口等新兴高科技领域的发展。He said a nationwide unified system will be established to coordinate the development of unicorn companies between the central government and provincial government levels.王江平补充，为推动支持我国独角兽企业发展，将建立全国统一、部省联动的独角兽企业培育体系。Unicorn companies will be supported in technological innovation, and will be encouraged and guided to address national strategic needs and master unique, proprietary technologies, Wang said, adding that more efforts will be made to increase financial backing for these unicorns, including support for public listings, mergers and acquisitions, to accelerate their growth.支持独角兽企业技术创新，鼓励和引导独角兽企业围绕国家战略需求开展技术攻关，掌握更多的“独门绝技”。加大对独角兽企业的金融支持，包括支持独角兽企业上市、并购、重组等。Despite China's growing unicorns, the country still lags behind the United States in terms of the overall number, according to the Hurun Research Institute. Last year, China had 340 unicorns while the US had 700.胡润研究院称，尽管中国的独角兽企业不断增加，但就总体数量而言，中国仍落后于美国。去年，中国有340家独角兽企业，而美国有700家。Wang Peng, a senior researcher at the Beijing Academy of Social Sciences, said that encouraging SMSEs, platform firms and unicorn companies are part of broader efforts to spur the private sector, which is of great significance to counter the current global economic slowdown. 北京市社会科学院高级研究员王鹏表示，鼓励支持小微企业、平台企业和独角兽企业是刺激民营经济发展的进一步努力，这对于应对当前全球经济下行具有重要意义。A report on private sector development by the State Council showed that private companies accounted for 92.3 percent of the country's total number of business entities in 2023, a significant increase from 79.4 percent in 2012.国务院关于民营经济发展情况的报告显示，2023年，民营企业占全国企业总数的92.3%，较2012年的79.4%有大幅提高。"The Chinese economy will continue gathering momentum if the private sector, including smaller businesses, remains sound. More importantly, private enterprises stood undoubtedly at the forefront of technological innovations and the digital economy in recent years, especially in fields like new energy, information, communication, biopharmaceuticals and AI," the senior researcher said.“如果包括小型企业在内的民营经济发展稳健，中国经济将继续保持良好发展势头。更重要的是，近年来，民营企业无疑站在了技术创新和数字经济的前沿，尤其是在新能源、信息、通信、生物制药和人工智能等领域。”资深研究员王鹏说。harnessv. 利用proprietaryadj. 独有的；专利的mergern. (企业)合并；并购acquisitionn. 收购

Eric and Matt share insights on the market's performance through the third quarter of 2024, highlighting the S&P rising by 6% and a significant 50 basis point rate cut by the Federal Reserve, the first since the pandemic. Eric reflects on market sentiment and the complexities of predicting Fed actions, addressing the contrasts between past and present credit cycles, and emphasizing the importance of leverage awareness. They also delve into the impact of fiscal stimulus, wage inflation, and private market trends, while considering potential risks like inflation resurgence and government debt levels. Lastly, the conversation touches on the private markets, their growth, and the role of corporate credit and gives perspective on potential election volatility for next quarter.  For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE. ----- Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @makingmkts | @ericgoldenx Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes (00:00:00) Welcome to Making Markets (00:00:23) Fed Rate Cuts and Market Reactions (00:01:32) Leverage and Market Dynamics (00:03:07) Fiscal Stimulus and Wage Inflation (00:06:14) Global Economic Trends and Risks (00:11:04) Fed Policies and Historical Perspectives (00:16:06) Inflation Concerns and Market Implications (00:19:34) Investor Strategies and Fed Data Analysis (00:23:17) Fed's Easing Cycle: Market Reactions (00:23:33) Election Volatility and Market Expectations (00:24:08) Split Government and Market Stability (00:27:45) Corporate Credit Spreads and Economic Indicators (00:34:17) Private Markets and Investment Trends (00:41:01) Sports Betting and Market Regulation (00:44:02) Predictions Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode features CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from August 27 to October 1, 2024.

This episode features CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from July 29 through August 27, 2024.

This episode features CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from June 24 through July 29, 2024.

Send us a Text Message.This episode features CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from May 24 to June 24, 2024.

This episode features CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from April 26 to May 24, 2024.

Every day, FINRA's Insider Trading Detection Program uses sophisticated technology and analytics to monitor 100% of trading in stocks, options and bonds for potentially suspicious activity around material news events, resulting in hundreds of referrals to the SEC and law enforcement every year. On this episode, we hear from Sam Draddy, a Senior Vice President of the Market Abuse Unit within FINRA's Market Regulation and Transparency Services, and Karen Braine, Vice President of the Insider Trading Detection Program, about how they connect trading data, information from public sources and from companies and FINRA firms to pull together actionable intelligence. Resources mentioned in this episode:Episode 23: Insider Trading: Finding the Needle in the HaystackBlog: FINRA Plays a Vital Role in Exposing Insider TradingSEC Litigation Release: Sean R. Steward et al.SEC Litigation Release: Andreas BechtolsheimSEC Litigation Release: Joseph C. Lewis et al. Find us: X / Facebook / LinkedIn / E-mail

This episode has CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from March 29 to April 26, 2024.

On May 28th, U.S. markets are moving to a one-day settlement cycle, familiarly known as T+1. This move, which returns the settlement time frame back to a point at which it last stood a century ago, will have wide ranging impacts for firms, investors and regulators. On this episode, we hear from James Barry, Director of Credit Regulation with FINRA's Office of Financial and Operational Risk Policy, Bobby Gomez, a Senior Director with Market Regulation and Transparency Services' Strategic Initiatives team, Mike MacPherson, a Senior Advisor in Member Supervision's Risk Monitoring group, and John Nachmann, Associate General Counsel with the Office of General Counsel's Regulatory Practice, to discuss what all market participants need to be thinking about and testing ahead of the transition.Resources mentioned in this episode:Episode 127: Understanding the Unique Risks of Every FirmDTCC: The Key to T+1 Success BlogReg Notice 23-15: Regulation T and SEA Rule 15c3-3 ExtensionTechnical Notice: T+1 Settlement TestingFINRA Margin RegulationFINRA Investor Insight: Understanding Settlement Cycles2024 Annual Regulatory Oversight Report

China's top court is conducting research on livestreaming and other issues related to new purchasing habits to strengthen consumer protection by formulating relevant judicial documents, a senior judge said.一位高级法官表示，中国最高法院正在研究直播和其他与新购买习惯相关的问题，通过制定相关司法文件来加强对消费者的保护。"Our research focuses on livestreaming sales, tipping livestreaming hosts, online booking and personal information protection of consumers," Chen Yifang, chief judge of the Supreme People's Court's No 1 Adjudication Tribunal, told a news briefing on Tuesday.2024年4月9日，最高人民法院第一审判庭庭长陈宜芳在新闻发布会上表示:“我们的研究重点是直播带货、主播打赏、在线预订和消费者个人信息保护。”She said that the research, as well as the formulation of related legal documents and the disclosure of influential cases, are consistent with the country's newly revised regulations concerning consumers.她说，这项研究，以及相关法律文件的制定，以及有影响力的案例的披露，都与国家新修订的有关消费者的规定相一致。The regulations for the Implementation of the Law on the Protection of Consumer Rights and Interests, unveiled by the State Council last month, will take effect on July 1.国务院于3月发布的《消费者权益保护法实施条例》将于7月1日起施行。With detailed provisions on obligations of business operators, the regulations respond to major concerns of consumers over the past few years, including those on livestreaming sales, prepaid consumption and personal data protection.该条例详细规定了经营者的义务，回应了过去几年消费者关注的主要问题，包括直播销售、预付费消费和个人数据保护。Chen said the top court is also optimizing adjudication rules related to prepaid consumption, such as how to terminate a contract, whether the refund needs to include interest, and consumer fraud, adding "our aim is to ensure business integrity and safeguard the legitimate rights of consumers."陈宜芳表示，最高法院也在优化与预付费消费相关的裁决规则，例如如何终止合同，退款是否需要包括利息，以及消费者欺诈，并补充说:“我们的目的是确保商业诚信，维护消费者的合法权益。”The country's top market regulator has pledged to tighten inspection of emerging businesses so that they can develop in a healthy manner.国家最高市场监管机构承诺加强对新兴企业的检查，以使它们能够健康发展。Kuang Xu, head of the State Administration for Market Regulation's law enforcement and inspection division, cited data from the past five years as showing that the market size of livestreaming sales increased by 10.5 times, but consumer complaints increased by 47.1 times, which was significantly higher than traditional e-commerce.国家市场监管总局执法稽查局局长况旭引用了过去五年的数据，显示直播销售的市场规模增长了10.5倍，但消费者投诉增加了47.1倍，明显高于传统电子商务。"Selling goods through livestreaming platforms has enriched and innovated our consumption patterns, but it has also made it more difficult for consumers to protect their rights and interests," he said, adding that it is essential to seek a balance in the development and norms of the business.他说:“通过直播平台销售商品丰富和创新了我们的消费模式，但也使消费者更难保护自己的权益。”他补充说，在商业发展和规范中寻求平衡至关重要。He welcomed the newly released regulations, as some provisions can also apply to emerging businesses such as livestreaming e-commerce.他对新发布的规定表示欢迎，因为一些规定也适用于直播电子商务等新兴业务。For example, the regulations stipulate that those who sell products or provide services through the internet, television or telephone must introduce their business content via the home page, video screen, voice call or catalog. The sales platforms also need to disclose to consumers the name, business address and contact information of sellers.例如，《条例》规定，通过互联网、电视或电话销售产品或提供服务的，必须通过主页、视频屏幕、语音呼叫或目录介绍其业务内容。销售平台还需要向消费者披露卖家的名称、营业地址和联系方式。"The provisions mean that operators engaged in livestreaming sales must inform consumers who are selling the products and what goods are being sold to ensure the transparency of the business information," Kuang said.况旭表示:“这些规定意味着，从事直播销售的运营商必须告知正在销售产品的消费者以及正在销售的商品，以确保商业信息的透明度。”The regulations also require livestreaming platforms to establish working systems to help solve consumption-related disputes, with notification of who operates the streaming rooms and who is responsible to consumers.该规定还要求直播平台建立工作制度，以帮助解决与消费相关的纠纷，并通知谁运营流媒体室，谁对消费者负责。Kuang added that the strict management of platforms will be conducive to standardizing livestreaming sales.况旭补充说，对平台的严格管理将有利于规范直播销售。e-commerce电子商务stipulate规定；保证

This episode has CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from February 26 through March 29, 2024.

These days, it's not a matter of if, but when, when it comes to cybersecurity incidents, which is why it's essential for all firms to ensure they're prepared for the inevitable. On this episode, we're catching up with Bryan Smith, the new senior vice president of FINRA's Complex Investigations and Intelligence (CII) team and Brita Bayatmakou, vice president of the Cyber and Analytics Unit within CII, for an update on CII, the cyber threat landscape and what firms should be thinking about and doing in response to the latest trends.Resources mentioned in this episode:FINRA's FBI Cyber Threat Briefings (Next Briefing: April 22)Episode 112: Introducing FINRA's Complex Investigations and Intelligence TeamCISA Alerts and AdvisoriesFBI Internet Crime Complaint Center: Industry AlertsReg Notice 21-29: Obligations Related to Outsourcing to Third-Party Vendors

Authorities have moved to tighten oversight of the rapidly expanding semi-prepared food industry, ironing out definitions of precooked dishes and rolling out rules on the use of additives in the sector to ensure food safety.针对快速扩张的预制菜行业中国政府已采取行动，加强监管力度，明确了预制菜的定义，并推出了行业添加剂使用规则，以确保食品安全。Restaurants are also being encouraged to identify dishes on their menus that include semi-prepared ingredients, a move that experts say will help customers make informed decisions.还鼓励餐厅在菜单标明包含半成品食材的菜肴，专家表示此举将帮助顾客做出明智的决定。The reforms, led by the State Administration for Market Regulation, which oversees product quality and consumer rights, were outlined in a circular issued on Thursday by six government agencies.3月21日，六家政府机构发布通知，介绍了此次预制菜行业改革，此次改革由负责监督产品质量和消费者权利的国家市场监督管理总局牵头。Share prices of companies involved in the semi-prepared food sector fell by an average of 2 percent on the A-share market on Monday because of the strengthened oversight. Industry insiders said the rules were the first to clarify the definition of semi-prepared food and set out safety and quality standards for the multibillion yuan industry.3月25日，由于监管力度加强，A股市场半成品食品公司股价平均下跌2%。业内人士表示，该规定首次明确了半成品食品的定义，并为这个价值数十亿元的行业制定了安全和质量标准。China has more than 70,000 companies making food items that have undergone some preparation but are not fully cooked or ready to eat, according to Xinhua News Agency. Their output value topped 500 billion yuan ($69.4 million) last year and is on track to surpass 1 trillion yuan in a few years, it said.据新华社报道，中国有超过70,000家企业生产经过一定处理但尚未完全煮熟或即食的食品。去年其产值突破5000亿元，并有望在几年内突破1万亿元。The new rules differentiate between semi-prepared food — also known as prepackaged meals — and other food items, such as instant noodles, frozen dumplings and salads. They say semi-prepared food must be a dish that can be consumed after simple preparations such as heating or boiling.新规区将预制食品（也称为预包装食品）和其他食品做了区分，例如方便面、冷冻饺子和沙拉。他们说，预知食品必须是经过简单准备（例如加热或煮沸）后即可食用的菜肴。Experts said makers of frozen foods such as dumplings and hamburgers will no longer be regarded as being semi-prepared food businesses, and will be unable to ignore regulations in their own sector or enjoy preferential policies tailor-made for semi-prepared food makers. They said the generalization of the concept of semi-prepared food had previously created regulatory difficulties.专家表示，饺子、汉堡包等冷冻食品生产企业将不再被视为预制菜企业，要接受其真正所属行业的监管，不能享受针对预制菜生产企业的优惠政策。他们表示，此前预制菜概念的泛化造成了一定监管困难。Zhang Chunhui, a researcher with the Chinese Academy of Agricultural Sciences' Institute of Food Science and Technology, told Xinhua the rules raised the threshold for manufacturers and separated semi-prepared food from other business models, such as those processing and packaging pre-cut uncooked vegetables and meat, or "central kitchens" that prepare and distribute food to satellite kitchens, restaurants, or cafeterias to reduce costs and ensure uniformity.中国农业科学院食品科学技术研究所研究员张春辉告诉新华社，该规定提高了生产企业的门槛，并将半成品食品与其他商业模式分开。后者包括负责加工和包装预切未加工蔬菜和肉类的企业，以及负责准备食物并将其分发到卫星厨房、餐馆和自助餐厅，以降低成本并保证菜品质量的“中央厨房”。In a media release issued on Monday, an unnamed official with the State Administration for Market Regulation said ready-to-eat foods that do not require heating or cooking, as well as cold dishes such as vegetables or fruit salads that can be consumed directly, are not considered semi-prepared dishes. The official said semi-prepared food is an emerging sector that has integrated agriculture, manufacturing and service industries and boasts a sprawling supply chain. It is significant in promoting the deep processing of agricultural products, transforming the food industry, consumer upgrading, entrepreneurship and employment.国家市场监管总局一位官员表示，不需要加热或烹饪的即食食品，以及可以直接食用的蔬菜、水果沙拉等冷菜，不属于预制菜。预制菜行业是集农业、制造业、服务业为一体的新兴产业，拥有庞大的供应链。这对于推动农产品深加工、食品产业转型、消费升级、创业就业具有重要意义。The circular also addressed rising food safety concerns in the sector, where poor quality raw materials and banned food additives are harder to spot after being processed. It said preservatives shall be prohibited in the making of semi-prepared food items, which shall be subject to strict storage conditions related to freezing, refrigeration and sterilization. The use of additives must be strictly controlled, along with the quality of other raw materials.因为劣质原材料和禁用食品添加剂在加工后更难被发现，所以预制菜行业的食品安全问题越来越得到人们的关注。针对这一问题，该通知也做出了相关规定：预制菜制作过程中不得使用防腐剂，应当遵守严格的冷冻、冷藏和灭菌等储存条件。添加剂的使用以及其他原材料的质量必须受到严格控制。The increased focus on food safety followed media reports on March 15 — World Consumer Rights Daythat companies in Anhui province, a stronghold of semi-prepared food makers, had used cheaper meat from the necks of pigs to make a precooked dish that should have contained pork belly. The companies involved have been shut down and their owners detained.3月15日世界消费者权益日，有媒体报道称，安徽省的一家大型预制菜企业使用更便宜的猪颈肉来代替五花肉制作梅菜扣肉预制菜。报道发出后，食品安全问题受到越来越多的关注。涉事公司已被关闭，其所有者被拘留。Semi-prepared food grew in popularity during COVID-19 pandemic, when white-collar employees worked from home and cooked for themselves. The products were also embraced by restaurants, but some consumers felt deceived when they learned the dishes they paid for were not cooked from scratch.在COVID-19大流行期间，白领员工居家办公并自己做饭，预制菜成为了一个热门选择，随后预制菜也受到了餐馆的青睐，被端上了餐厅饭桌上。但消费者在得知自己支付的菜肴并非新鲜烹制时，还是会感觉受到了欺骗。generalization of concept概念泛化semi-prepared food预制菜

U.S. financial markets today are not what they were ten years ago, five years ago, or even just a couple of years ago. Over the years, FINRA's Market Regulation and Transparency Services (MRTS) team successfully grew and evolved to meet the changing demands of the markets they oversaw. But recently, the group took time to ask, how would we build this team if we were starting from scratch? And the answer to that question involved redesigning the group structure around specific functions, rather than around specific rules or products. On this episode, we hear from Feral Talib, Executive Vice President of Surveillance and Market Intelligence, Jackie Perrell, a Senior Vice President and Chief of Staff for MRTS, and Steve Price, Senior Vice President of Market Investigations to learn how the MRTS team has realigned itself, allowing it to be more nimble in addressing and anticipating risks, to better leverage its data and more.Resources mentioned in this episode:2024 FINRA Annual Regulatory Oversight ReportFeral Talib Named Executive Vice President and Head of Surveillance & Market IntelligenceEpisode 60: Greg Ruppert and the National Cause and Financial Crimes Detection Programs

This episode has CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from January 29 to February 3.

This episode has CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from Dec. 28, 2023 - Jan. 29, 2024.

In order for the capital markets system to continually grow in its transparency, efficiency and fairness, it needs a combination of free market ingenuity and regulatory protection. With the meteoric rise and importance of alternative investments in the past decade, did the SEC strike that balance correctly with the new Private Advisors Rule? Directionally, probably yes but certainly the details are far from perfect and unintended consequences are inevitable. With an aim to provide a practical guide for the layman practitioner, we explore the history of light touch regulation of private funds, highlight the important elements and implications of the rule, and explain why CAIA joined ILPA and many asset owners in submitting an Amicus Brief to the 5th Circuit Court of Appeals defending the spirit of the rule. Guests: Jen Choi, CEO, ILPA Jon Grabel, CIO, Lacera ⁠Episode Sources

As a self-regulatory organization, information sharing is key to FINRA's pursuit of its mission of investor protection and market integrity, and no single resource is a better example of that than FINRA's Annual Regulatory Oversight Report. On this episode, Ornella Bergeron, Senior Vice President of Risk Monitoring, Omer Meisel, Executive Vice President of the National Cause and Financial Crimes Detection Program, Claire O'Sullivan, Vice President and Regulatory Advisor of Stakeholder Engagement, and Michael Solomon, Senior Vice President of Examinations, join us to discuss highlights from the 2024 report.Resources mentioned in this episode:2024 FINRA Annual Regulatory Oversight ReportReg Notice 23-20: Guidance and Resources Related to Regulation Best InterestReg Notice 23-11: Concept Proposal for a Liquidity Risk Management RuleReg Notice 21-35: Proposed Order Routing Disclosure RequirementsSEC FAQ on Form CRSCAT NMS Plan WebsiteEpisode 136: An Introduction to FINRA's Crypto Asset Work and the Crypto HubEpisode 137: The Crucial Role of FINRA's CAI TeamEpisode 138: FINRA's Blockchain LabEpisode 129: A New Twist on New Account Fraud

This episode has CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from December 4-28, 2023.Interested in learning more about what CII does? Visit our website to check out our recent advocacy activities and publications.

This episode has CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from October 31 - December 4, 2023.

This episode has CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from October 3-31, 2023.

On the Tuesday, Oct. 31 edition of Georgia Today: Georgia's Department of Human services is being accused of trying to send troubled foster kids to detention centers; state lawmakers will get an update on the status of the state's electronic voting system; and have you noticed ticket prices on the rise? A state House panel has, too, and is looking into what can be done about it.

This episode has CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from September 5 to October 3, 2023.

This episode has CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from August 1 to September 5, 2023.

This episode has CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from June 28 to August 1, 2023.

This episode has CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from May 30 - June 28, 2023.

FINRA's Examination team carries out a core function of FINRA's business by examining every member firm at least every four years and as often as annually, depending on the risk profile of each individual firm. These exams ensure firms remain in compliance with FINRA rules and federal securities laws and regulations and are at the heart of FINRA's mission of investor protection and market integrity. On this episode, Michael Solomon, Senior Vice President of Examinations, Nicole McCafferty, Vice President of the Retail Exam Firm Group, and Joe Sheirer, Vice President of the Office of Exams, join us for a deep dive into how the program works and what firms can expect during routine firm exams.Resources mentioned in this episode:Episode 127: FINRA's Risk Monitoring ProgramEpisode 60: National Cause and Financial Crimes Detection ProgramsReg Notice 23-08: Selling Private Placements2023 Report on FINRA's Examination and Risk Monitoring Program

This episode has CII General Counsel Jeff Mahoney covering the top 10 important events affecting institutional investors from May 2-30, 2023.

Linktree: https://linktr.ee/AnalyticThe $69 billion Xbox Activision deal buyout has reportedly been approved by China's regulatory body.According to DealReporter (via SeekingAlpha), China's State Administration for Market Regulation recently gave the deal its unconditional approval in a late-phase review, handing Microsoft and Activision another win on their volatile and uncertain path to closing the acquisition.The deal faced another significant setback last month when UK regulators formally moved to block, but soon after regained some momentum when it was approved by the European Union. Arguably its most significant hurdle will come later this year when the US Federal Trade Commission is set to begin hearings on its lawsuit seeking to stop the buyout due to anti-competition concerns.source: Microsoft's Activision deal has now reportedly been approved by China (yahoo.com)Support this podcast at — https://redcircle.com/analytic-dreamz-notorious-mass-effect/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy