The U.K.’s financial watchdog has watered down some of the key compliance requirements for crypto firms as it released its first full set of rules for the industry to follow.
Regulatory Policy
Posted inRegulatory Policy
U.K. set to ramp up consumer protection against price gouging
Companies risk finding that commercially sensitive information about their pricing strategies could be made public if competition authorities and other regulators believe they have unduly hiked prices to take advantage of a spike in customer demand due to a crisis.
Posted inRegulatory Policy
By creating a new AI and exams position, SEC may be ramping up Marketing Rule enforcement
The SEC has created a new position on AI and examinations for broker-dealers and investment advisers. The move should signal to regulated entities that the SEC may begin applying more sophisticated AI tools to scour advertisements made by firms for false or misleading claims
Posted inBest Practices
Regulators are likely to pass laws on AI use in healthcare. Here’s how to prepare
Artificial intelligence tools hold breathtaking potential in the healthcare ecosystem.
Posted inFinancial Services
Lawyers warn U.K. financial firms to prepare for faster regulatory changes with less consultation
The U.K. government is giving the financial and banking regulators more flexibility to make regulations without submitting these to a full consultation process.
Posted inData Privacy
GDPR 10 years on: Differences in regulatory enforcement still problematic
In the decade since the EU’s groundbreaking privacy legislation, the GDPR was approved, companies have faced increased scrutiny over the reasons they collect, retain, and share personal information, as well as the measures they take to ensure its security.
Posted inArtificial Intelligence
Companies risk violating data, consumer laws over agentic AI use
Companies are at increased risk of violating Europe’s tough privacy laws because boards have little awareness of the different types of AI or their inherent risks. While many organizations are more familiar with predictive and conversational AI tools, such as chatbots that carry little or no discernible risk, they have not grasped that generative AI—and especially agentic AI—are different animals.
Posted inArtificial Intelligence
No new rules as U.K. financial services sector champions AI
There are no new rules on the horizon as U.K. financial services firms embrace “AI-enabled, continuous and delegated services,” but a report warns that the technology could reshape the sector by 2030 in terms of how firms operate, consumers make decisions, markets compete, and risks emerge.
Posted inESG/Social Responsibility
Compliance must focus on due diligence as U.K. aligns with EU deforestation laws
Products using wood, cattle, cocoa, coffee, palm oil, rubber and soy are set to come under new U.K. deforestation legislation.
Posted inData Privacy
GDPR 10 years on: Data compliance now front of mind
Europe’s landmark privacy legislation, GDPR, was officially adopted ten years ago and has been in force since May 2018. It has forced organizations to change the way they think about personal information and has put privacy risk firmly on the board’s agenda, especially since the sanctions available under the regime are potentially ruinous
