Regulators hit Wall Road banking institutions with $549 million in penalties for history-trying to keep failures

Regulators hit Wall Road banking institutions with 9 million in penalties for history-trying to keep failures

Crucial Points

U.S. regulators on Tuesday announced a combined $549 million in penalties from Wall Avenue corporations that failed to retain digital information of worker communications.
The Securities and Trade Fee announced expenses and $289 million in fines against 11 corporations for “common and longstanding failures” to keep records, together with by enabling workers to use unsupervised aspect channels such as messaging applications WhatsApp and Signal, the regulator said.
The Commodity Futures Trading Commission also said it fined 4 banks a whole of $260 million for failing to sustain information needed by the agency.

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Finance

Fed Chair Powell asks inspector general to review controversial building project

July 14, 2025

Key Points The Federal Reserve has brought in its inspector general to review a building expansion that has drawn fire from the White House, according to a source familiar with the issue. “We’ve got a real problem of oversight and excess spending,” Kevin Hassett, director of the National Economic Council, said Monday on CNBC. Source

Finance

Stocks making the biggest moves premarket: Kenvue, Rivian, Affirm, SolarEdge Technologies and more

July 14, 2025

Check out the companies making headlines in premarket trading. Kenvue — The Neutrogena-maker jumped 4.5% after the company said its CEO Thibaut Mongon has stepped down . Kenvue said its board is conducting a strategic review of the company and is considering a range of possible alternatives, such as simplifying the company’s portfolio. nCino — […]

Finance

Alibaba-backed Moonshot releases new Kimi AI model that beats ChatGPT, Claude in coding — and it costs less

July 14, 2025

Key Points Alibaba-backed startup Moonshot released late Friday night its Kimi K2 model as a low-cost, open source large language model, with a focus on coding capabilities. Moonshot claimed Kimi K2 surpassed Claude Opus 4 on two benchmarks, and had better overall performance than OpenAI’s coding-focused GPT-4.1 model, according to several industry metrics. Coincidentally, OpenAI […]