Regulators and national authorities worry that companies may be unwittingly exposing themselves to significant risk by adopting cheaper Chinese-made AI tools or using available “open-source” software that may also rely heavily on Chinese AI.
Neil Hodge
Neil Hodge is a freelance business journalist and photographer based in Nottingham, United Kingdom. He writes on insurance and risk management, corporate governance, internal audit, compliance, and legal issues for a wide range of publications in the United Kingdom and United States.
Posted inTechnology
European regulators warn about prediction markets, showing divergence from the US
Prediction markets may have become a booming industry in the United States, but the EU and UK remain reluctant to embrace them because of the inherent risks of supervising them and the potential harm they could cause consumers.
Posted inAML
UK proposes new cross-regulatory, multi-agency approach to clamp down on money laundering
The UK government has published its anti-money laundering and asset recovery strategy, which sets out a multi-agency, cross-regulatory response to money laundering and criminal asset recovery over the next three years.
Posted inWhistleblowers
UK backs SFO proposal to reward whistleblowers to curb economic crimes
The UK has called for feedback on plans to reform its whistleblowing laws so that people who come forward with information that leads to a corporate conviction can be financially rewarded, as in the US.
Posted inBanking
UK financial regulator proposes economy-linked regulatory threshold to cut firms’ compliance costs
The UK’s financial services supervisor wants to scrap “nominal” regulatory thresholds to make compliance costs “proportionate” and prevent more financial firms from falling under rules simply because they have grown in size rather than risk.
Posted inArtificial Intelligence
Boards put AI investments at risk due to lack of knowledge and skills, PwC survey finds
Companies risk wasting their AI investments because boards don’t rate the information underpinning the strategy and directors don’t understand how the technology works or creates value.
Posted inArtificial Intelligence
Companies responsible for decisions made by ‘autonomous’ AI, says ICO
The UK’s data regulator has issued a strong warning that companies remain responsible for protecting personal data when they use AI systems, even when the technology acts autonomously.
Posted inBanking
EU banking regulator issues new TPRM guidelines for large banks, FS firms
The European Union’s key banking regulator has issued guidelines to help large banks manage the risk of disruption if an important IT provider has an outage or a third party cannot continue to supply critical services.
Posted inArtificial Intelligence
FCA warns AI may reveal more cyber vulnerabilities firms can cope with
The UK’s financial regulator has warned that the rapid pace of AI development is revealing vulnerabilities in firms’ cybersecurity arrangements because their existing controls cannot keep up with the risks new technology can either create or exploit.
Posted inArtificial Intelligence
EU’s financial regulator prioritizes AI, tokenization as key risks for 2027
The EU’s main financial regulator has made AI and tokenization—where assets are traded on blockchains rather than through traditional financial markets—key priorities for banking regulators in EU member states to focus on for 2027.