Wall Street lenders are urged to enhance risk assessment as the Federal Reserve increases oversight on counterparty risks. Chinese regulators are taking measures to reduce the size of a popular quantitative trading strategy causing stock market turmoil. Regulators in China are instructing leveraged quant funds to deleverage and phase out products linked to market sell-off in 2023. The China Securities Regulatory Commission (CSRC) is gradually shrinking the Direct Market Access (DMA) strategy, leading to stock market declines with the SHCOMP falling 1.7% and the CSI 300 Index dropping over 1%. Chinese regulators are directing quant funds to stop accepting new inflows and phase out existing DMA products. CSRC plans to strengthen supervision of over-the-counter derivative businesses, including DMA, and control business size and leverage to maintain market stability.