证监会发布关于推动 不动产投资信托基金市场高质量发展有关工作的通知，其中提到，健全全链条监 管机制。遵循REITs特点规律和风险特征，完善覆盖尽职调查、发行定价、上市交易、资产运营管理、 信息披露等全链条监管制度，强化对不动产资产质量、运营管理、治理水平的穿透式监管。证监局要坚 持问题和风险导向，做好REITs日常监管与风险监测处置，及时发现、处理违法违规行为和风险事件。 证券交易所要通过审核问询、现场督导、现场检查等方式严把REITs发行上市准入关，做好上市交易、 信息披露、风险监测等自律监管工作，切实维护市场平稳运行。证券业协会、基金业协会要加强对基金 管理人、财务顾问、网下投资者等REITs参与主体的自律管理。强化科技监管应用。 ...

近日，证监会在传达学习中央经济工作会议精神时，研究部署了资本市场的贯彻落实举措，勾勒出未来 一段时间资本市场的改革路线图。可以看出，改革主线是防风险、强监管、促高质量发展，主要任务是 持续深化资本市场投融资综合改革，意在为经济高质量发展和"十五五"良好开局贡献力量。 中原证券首席经济学家邓淑斌认为，当前资本市场改革呈现出"融资更包容、投资更长期、监管更精 准"的政策脉络，投融资综合改革具有长期性和重要性，预计未来改革主线将围绕持续增强市场内在稳 定性、提高制度包容性和适应性、提升监管执法效能等方面发力，不断提升资本市场吸引力与竞争力。 提高制度包容性与吸引力 证监会表示，科学制定资本市场"十五五"规划体系，系统谋划未来五年资本市场发展主要目标、任务和 重要举措；不断提高资本市场制度包容性吸引力。这是对中央经济工作会议"持续深化资本市场投融资 综合改革"的落细落实。 实际上，在新"国九条"和资本市场"1+N"政策框架的指引下，资本市场持续在投融资端改革方面发力。 在融资端，纵深推进科创板改革和多层次债券市场体系建设，提高资本市场对新产业的包容性和适配 性；在投资端，营造更具吸引力的"长钱长投"制度环境，加大培育 ...

据环球网报道，欧盟委员会对美国企业家马斯克旗下社交媒体平台X处以1.2亿欧元罚款，遭到包括美国 副总统万斯和国务卿鲁比奥在内的美国高官接连抨击。他们指责欧盟不公平地对待美国企业，称此举是 对更广泛的言论自由权利的攻击。马斯克甚至呼吁"废除"欧盟。除了言辞抨击，马斯克也采取了实质行 动。X公司产品负责人尼基塔宣布，已终止欧盟委员会的广告账户。 6日有消息称，欧盟委员会5日依据《数字服务法案》作出首份"不合规决定"，认定X在透明度方面违 法。该机构在一份声明中解释称，X的侵权行为包括其"蓝标认证"仅通过付费即可获得，在界面设计上 对用户具有误导性；其广告库缺乏透明度；未按规定向符合条件的研究人员开放平台公共数据访问权 限。欧盟委员会对上述三项违规行为分别处以4500万欧元、3500万欧元和4000万欧元罚款。 6日，美国驻欧盟大使普兹德在转发鲁比奥上述帖子的同时批评道：欧盟今日开出的巨额罚单，实属监 管越界之举，矛头直指美国创新力量。他还说："美政府立场明确，'我们反对内容审查，并将抵制一切 针对美企的繁苛监管。我们要求欧盟必须进行公平、开放、互惠的贸易——绝无妥协余地'。" 据埃菲社报道，在5日晚间至6日清晨发 ...

据埃菲社报道，在5日晚间至6日清晨发布的一系列帖文中，马斯克抨击了欧盟，他在X平台账号上 称："欧盟应当被废除，主权应归还给各个国家，以便政府能更好地代表本国人民。"此外，美媒称，马 斯克5日在欧盟关于该罚款的X平台帖文下方回复"胡说八道"，他还转发了多条批评欧盟决定的帖子。 据西班牙埃菲社6日报道，欧盟委员会5日依据《数字服务法案》作出首份"不合规决定"，认定X在透明 度方面违法。该机构在一份声明中解释称，X的侵权行为包括其"蓝标认证"仅通过付费即可获得，在界 面设计上对用户具有误导性；其广告库缺乏透明度；未按规定向符合条件的研究人员开放平台公共数据 访问权限。欧盟委员会对上述三项违规行为分别处以4500万欧元、3500万欧元和4000万欧元罚款。 对此，鲁比奥5日在X上发文称，此举是外国政府对美国的"攻击"，"更是外国政府对所有美国科技平台 及美国人民的攻击"。 万斯称，欧盟不应攻击美国公司。据美国《华盛顿邮报》报道，在欧盟的处罚出炉前，他4日在X上 称："有传言说，欧盟委员会将因X平台未配合内容审查而对其处以数亿美元罚款。欧盟本应支持言论 自由，而非以荒谬理由攻击美国企业。"美国商务部长卢特尼克也为马斯 ...

Group 1 - The European Union is set to launch a new antitrust investigation into Meta, focusing on the integration of AI features within WhatsApp, marking the latest regulatory action against tech giants [1] - The investigation will be based on traditional antitrust laws rather than the Digital Markets Act (DMA), which aims to curb the dominance of large online platforms [1][2] - The timing of the investigation is sensitive, coinciding with increasing tensions between the US and EU over tech regulation, with the Trump administration openly opposing EU regulations on American tech companies [1][3] Group 2 - Meta introduced AI features in WhatsApp in March, after delays due to the region's complex regulatory framework; the AI assistant is designed to enhance chat functionalities [2] - The Italian antitrust authority has already initiated an investigation against Meta, accusing the company of leveraging its dominant position to integrate AI into WhatsApp without user consent [2] - The EU's investigation into Meta is part of a broader trend of increasing digital regulation, following previous inquiries into Alphabet, Amazon, and Microsoft [2] Group 3 - Despite potential backlash from Washington and ongoing criticism from the US, the European Commission emphasizes its commitment to enforcing digital regulations [3] - Recently, Meta won an antitrust lawsuit in the US, where a judge ruled that the company does not hold monopoly power due to competition from services like Google YouTube, contrasting sharply with the EU's regulatory stance [3]

Core Viewpoint - The U.S. Secretary of Commerce, Gina Raimondo, indicates that the European Union (EU) must modify its digital regulations in exchange for a reduction in steel and aluminum tariffs [1] Group 1: Trade Agreement Context - The U.S. and EU reached a trade agreement in July, which includes a 15% tariff on most EU goods and a commitment from the EU to eliminate tariffs on U.S. industrial products and certain agricultural goods [1] - The agreement also aims to reduce other tariffs, including a 50% tariff on EU steel and aluminum products, with the EU currently imposing equivalent tariffs on steel imports exceeding specific quotas [1] Group 2: Regulatory and Economic Implications - U.S. officials express that any agreement on steel and aluminum is contingent upon the EU lifting certain regulations on major U.S. tech companies [1] - This linkage of tech regulation and metal tariffs places the EU in a difficult position, as it has consistently maintained that it will not allow other countries to dictate its tech regulatory framework [1] - The imposition of metal tariffs has caused significant economic harm across the European continent, raising concerns among European officials and businesses [1]

Core Viewpoint - The European Commission's Executive Vice President, Teresa Ribeiro, criticized the U.S. government for using "extortion" tactics to pressure the EU into weakening its technology regulations [1] Group 1: EU's Stance on Technology Regulations - Ribeiro stated that the EU's digital rules are unrelated to trade negotiations and are a matter of sovereignty [1] - The EU respects the U.S. rules for its market and asserts its right to establish and implement its own regulatory measures [1] Group 2: U.S. Position on Trade and Technology - U.S. Commerce Secretary Gina Raimondo linked the adjustment of EU technology regulations to the reduction of tariffs on steel and aluminum products [1] - The U.S. believes that the EU's Digital Markets Act discriminates against American tech companies such as Microsoft, Google, and Amazon [1]

Group 1 - The China Securities Regulatory Commission (CSRC) has released three financial industry standards related to data management in the securities and futures sectors, effective immediately [1][2] - The standards aim to enhance data processing, storage, and circulation efficiency, while promoting digital transformation in the securities and futures industry [1] - The standards include specifications for data elements related to securities exchanges and enterprise asset securitization, providing a framework for data governance and efficient information sharing [1][2] Group 2 - The "Futures Company Regulatory Data Collection Specification Part 2: Asset Management Business" standardizes data elements for asset management, improving data governance and regulatory data standardization in the industry [2] - The CSRC plans to continue developing data governance and business service standards to advance the digitalization of capital market information [2]

Group 1 - The European Commission, led by President Ursula von der Leyen, remains firm on regulating large US tech companies despite threats from President Trump regarding tariffs, indicating escalating tensions between the US and EU over tech regulation [1][10] - The EU has imposed a record fine of €29.5 billion on Google for violating antitrust regulations in the advertising technology sector, marking the fourth significant penalty against the company [2][3] - The total fines imposed on Google by the EU have reached €9.5 billion, with previous fines for abuses in shopping, Android, and advertising practices [3][7] Group 2 - The EU has demanded that Google propose a viable remedy within 60 days, or face mandatory measures, while Google plans to appeal the decision [7][10] - Trump's administration has expressed strong dissatisfaction with the EU's actions, threatening to initiate a Section 301 investigation into what it deems unfair trade practices by the EU [7][8] - The ongoing conflict highlights a deeper divide in digital regulations, with the EU aiming to assert digital sovereignty and the US tech giants accusing the EU of overreach and discrimination [10][11] Group 3 - The EU's recent decision to impose a fine rather than enforce a forced divestiture of Google's business has sparked internal criticism, with some arguing that fines alone will not change Google's monopolistic behavior [16][17] - The EU faces challenges in balancing external pressures from the US and internal divisions among member states regarding trade interests and regulatory strategies [14][18] - The ongoing battle over digital sovereignty is seen as a critical test of the EU's global governance capabilities and strategic autonomy in the face of US pressure [18]

Core Viewpoint - The recent administrative penalty decision by the Ningbo Securities Regulatory Bureau highlights the strict stance against insider trading, emphasizing that any knowledge of insider information, whether intentional or accidental, leads to legal consequences [1][2]. Group 1: Insider Trading Penalties - The involved party in the case was fined a total of approximately 1.06 million yuan, which includes the confiscation of illegal gains of 260,022.03 yuan and an 800,000 yuan fine, indicating that the penalties far exceed the illegal profits [2]. - The regulatory authority's actions serve as a clear warning that insider trading is a serious offense, damaging the interests of other investors and undermining the principles of a fair and transparent market [1][2]. Group 2: Regulatory Measures and Technology - The rapid investigation of the case demonstrates the increasing technological capabilities of regulatory bodies, utilizing big data and artificial intelligence to enhance oversight and detect illegal trading activities [2]. - The regulatory environment has significantly raised the costs of illegal activities, making insider trading a risky endeavor that is unlikely to yield long-term benefits [2]. Group 3: Recommendations for Investors and Companies - Investors are advised to avoid insider trading and instead focus on making investment decisions based on publicly available information, promoting a culture of value-based investing [3]. - Companies are encouraged to implement strict information confidentiality protocols and enhance the legal compliance awareness of major shareholders and insiders to prevent the leakage of sensitive information [3].