Stock transactions are set to settle more rapidly starting next Tuesday, while Boeing plans to address assembly line issues with a quality control improvement plan. Meanwhile, Meta’s new AI advisory council faces scrutiny for lack of diversity.
Effective next Tuesday, stock transactions will settle more rapidly, shifting from a two-day (T+2) to a one-day (T+1) cycle. This marks the first change since 2017 and impacts stocks, bonds, municipal securities, ETFs, certain mutual funds, and limited partnerships. Gary Gensler, SEC Chair, highlights that the change offers quicker access to cash for investors. It follows hiccups during the 2021 meme stock frenzy, which highlighted the need for swifter settlements.
Separately, Boeing is set to submit a quality control improvement plan to the FAA, addressing assembly line issues exposed by recent safety audits. The collaboration involves Boeing, the FAA, and the International Association of Machinists and Aerospace Workers. This initiative is part of Boeing’s broader efforts to improve safety culture and encourage employees to report concerns.
Additionally, Meta has formed an AI advisory council, composed entirely of White men. The group will guide Meta’s AI investments but faces criticism for lack of diversity. This follows a similar controversy involving OpenAI, which subsequently diversified its board.
