TREE NEWS update: The Securities Association of China is seeking industry feedback on a revised code of conduct for securities firms and their staff, adding new provisions on digital operations. The draft bars firms from using algorithm design, parameter configuration, function settings or unauthorized system access to funnel or seek improper benefits. The rules aim to strengthen integrity risk controls as digitalization deepens in securities business.
TREE NEWS update: China’s notice on cross-border centralized cash management for multinational companies took effect on the 14th, extending a pilot policy on domestic and foreign currency cross-border cash pooling to the whole country. Companies may now set their own consolidation ratios and use a single account to manage both local and foreign currency funds, with a preference for settling business in renminbi.
TREE NEWS update: The Securities Association of China is soliciting industry feedback on a revised set of integrity and anti-corruption rules for securities firms and their staff. The revision requires firms to designate a dedicated department to lead integrity supervision and to build information-sharing, joint-inspection and rectification mechanisms with compliance, risk, audit, finance and HR units. It also calls for tougher internal checks in investment banking, bond trading and brokerage.
TREE NEWS update: President Donald Trump has agreed to include a new bipartisan ethics provision in the cryptocurrency bill. The clause addresses conflict-of-interest concerns tied to the legislation. No further details on the provision’s wording or the bill’s timing were given.
TREE NEWS reports: Attackers have published identity documents and selfies belonging to Revolut customers and threatened to release more data each day until the fintech pays. The leaked material includes customer identity documents and selfies, with the attackers vowing daily releases. Revolut has not commented on the incident.
TREE NEWS update: The US Senate is scheduled to hold a key vote on Tuesday on crypto market structure legislation, a step that could deliver long-sought regulatory clarity for the industry. Separately, fears over AI swarms have prompted a slowdown in development, with some predicting sharp declines in AI stock prices.
TREE NEWS update: US House Speaker Mike Johnson said he is seeking talks with artificial intelligence platform providers and core experts. The move signals congressional outreach to the AI industry as lawmakers weigh policy toward the sector. No further details, including a timeline or list of participants, were given.
TREE NEWS update: The China Securities Regulatory Commission said it will dynamically refine its listing standards system and orderly expand coverage for new and high-quality companies, as part of its “15th Five-Year Plan” priorities for the capital market. The regulator also pledged to smooth the fundraising, investment, management and exit cycle for private equity and venture capital funds, guiding capital toward early-stage, small, long-term and hard-tech investments.
TREE NEWS update: Thirteen small and mid-sized Chinese fund managers filed a second batch of amortized-cost bond funds with the China Securities Regulatory Commission on the evening of Sept. 11, less than a month after the product category was reopened. All the filings are 63-month closed-end bond funds. The applicants include Boyuan Fund, Ruida Fund, Zhonghai Fund, Taixin Fund, Huiquan Fund, Hengyue Fund, Quanguo Fund, Suxin Fund, Huibaichuan Fund and Yimin Fund.
TREE NEWS update: US Senate Majority Leader Chuck Schumer convened the Senate Democratic caucus Sunday evening to discuss a new CLARITY Act text circulated by Republican senators Thursday, which includes more than 100 amendments attributed to Democrats. The Senate votes Tuesday on whether to advance the bill’s cloture motion or abandon it, with most Democratic senators expected to vote no. If all 53 Republicans back it, the bill needs at least seven Democratic votes to proceed.
TREE NEWS update: Mexican authorities raided a hidden cryptocurrency mining site on suspicion of electricity theft and money laundering. The site was the fourth crypto farm discovered in the area since early 2025, located near a local hydroelectric dam.
TREE NEWS update: The US Senate will hold its first procedural vote on the CLARITY Act on Tuesday at 2:15 pm ET, with Senator Bernie Moreno urging colleagues to advance the bill before amendments are considered. Representative Warren Davidson called for Section 305 to be removed before passage, saying it would let exchanges and stablecoin issuers freeze suspicious transactions for 30 days, extendable to 180 days at law enforcement request, effectively granting them civil asset forfeiture powers.
TREE NEWS update: House Democratic leader Hakeem Jeffries said Democratic lawmakers will hold a caucus meeting Tuesday morning focused on legislative action on artificial intelligence. Jeffries called addressing the challenges posed by AI a “high priority” requiring swift measures, and said Democrats are debating how to set regulatory and safety guardrails in response to the industry’s rapid growth and potential risks.
TREE NEWS update: US House Speaker Mike Johnson said President Trump’s proposed $5,000 check plan requires congressional approval. The statement indicates the proposal cannot proceed without legislative action by Congress.
TREE NEWS update: Elon Musk posted on X that “nothing can shut down open source,” replying to user Kevin Bass, who raised concerns that US AI legislation could suppress open-source models and raise barriers to competition. Block founder Jack Dorsey quoted the post with the word “facts,” signaling agreement. The exchange centers on proposed US AI rules and their potential impact on open-source development.
TREE NEWS update: White House economic adviser Kevin Hassett said he was glad to see OpenAI and Elon Musk support Anthropic CEO Dario Amodei’s post on AI, calling it a private-sector roadmap for AI. Hassett added that AI safety is a “solvable problem.”
TREE NEWS update: US House Speaker Mike Johnson said AI regulation should not be pushed through hastily, and that lawmakers should meet with AI leaders before any legislation is drafted. He also said a proposed $5,000 check plan floated by Donald Trump would not add to the debt.
TREE NEWS update: Thailand’s Securities and Exchange Commission has proposed draft rules that would require licensed crypto platforms to restrict stablecoin deposits and withdrawals to a customer’s own verified account or wallet, banning transfers to third-party wallets. The draft sets a daily limit of 5 million baht (about $150,000) per person per platform for both inbound and outbound transactions. The proposal is open for public comment until September 25 and has not yet taken effect.
TREE NEWS update: China will hold its 2026 National Cybersecurity Week from September 14 to 20 nationwide, under the theme “Cybersecurity for the People, Cybersecurity by the People — Safeguarding Cybersecurity in the Intelligent Era.” The annual campaign is organized on a unified national basis.
TREE NEWS update: Chinese President Xi Jinping proposed five initiatives on deepening BRICS cooperation at the 18th BRICS Leaders’ Meeting in New Delhi on September 13, including an AI open-source sharing initiative, a trade and investment facilitation initiative, a digital industry cooperation initiative, a smart manufacturing cooperation initiative and a science and technology talent initiative. Xi said BRICS must keep industrial and supply chains stable and smooth and build an integrated large market, letting emerging technologies light the path to shared prosperity.