China to Ban Overseas IPOs for Tech Firms Handling Sensitive User Data
China is planning to introduce new regulations that would ban several Chinese companies that handle sensitive user data from listing abroad. The move could be a severe blow to the ambitions of local internet companies which are planning to launch foreign IPOs.
Under the planned rules, the Chinese securities regulator would tighten scrutiny of overseas IPO-bound firms and ban those that collect vast amount of users data or create content that could pose possible security risks.
All internet firms would be asked to voluntarily apply for reviews with the powerful Cybersecurity Administration of China (CAC) if they aim to list their shares outside China.
CAC would conduct the review, if necessary, with other relevant ministries and regulators, the person said, adding after the cybersecurity watchdog’s approval companies would be allowed to submit an application to the securities regulator.
Microsoft Warns of Vulnerability in Azure’s Central Database
Microsoft has reportedly warned thousands of its cloud computing customers, including some of the world’s largest companies that intruders could have the ability to read, change or even delete their main databases.
According to the reports, the vulnerability is in Microsoft Azure’s flagship Cosmos DB database. A research team at security company Wiz discovered it was able to access keys that control access to databases held by thousands of companies. Wiz Chief Technology Officer Ami Luttwak is a former chief technology officer at Microsoft’s Cloud Security Group.
Because Microsoft cannot change those keys by itself, it emailed the customers telling them to create new ones. Microsoft agreed to pay Wiz $40,000 for finding the flaw and reporting it, according to an email it sent to Wiz.
7 Trends for Strategic Planning Process that Leaders Must Act Upon: Gartner
While many long term plans were put off due to the Covid-19 pandemic, executive leaders should act now in implementing a strategic planning process for future revenue growth, according to Gartner.
Executive leaders should evaluate the use of technological, political, economical, social/cultural, trust/ethics, regulatory/legal, and environmental (TPESTRE) — what Gartner refers to as a ‘Tapestry’ — factors and analysis to identify relevant accelerators and inhibitors.
The key trend areas to evaluate include:
- The evolution, impact and disruption of technology change.
- Attitudes, institutions and legislation shifting the political environment.
- Factors in the local and global economic environment that influence businesses and governments.
- Attitudes, behaviors and lifestyles of individuals and societal groups.
- Ethical expectations, behaviors, duties and biases of people and companies toward one another and society.
- Changes in laws and governmental policies and regulations to reward or punish particular behaviors.
- Technical, political, economic, cultural, ethical and legal changes supporting environmental protection and sustainability.
