Posted inRegulatory Enforcement

Crypto firms brace for tighter UK oversight as FCA plots integration with financial markets

Trying to put rules in place to oversee an industry that has grown largely outside of regulation is not without serious challenges. But the UK’s Financial Conduct Authority’s (FCA) latest consultation aims to attract industry views about how some key aspects of crypto trading should be regulated ahead of planned legislation due to come into effect next year.

Posted inRegulatory Enforcement

What is AI washing and why companies need to stop exaggerating their AI prowess

The buzz around generative AI has reached fever pitch over the past few years—to such an extent that it’s practically a death knell for any company to say it’s not investing massively in gen AI to transform their business. There’s only one problem: many companies are either being misleading or lying about the extent they are using such technology and what it’s capable of. 

Posted inAnti-Bribery

CW TPRM Summit: Technology advancements are making export controls more important than ever

Russia’s invasion of Ukraine has sparked a war with unusual implications: The U.S. has stepped up sanctions and export controls. But companies are increasingly learning that the most seemingly innocuous products can find themselves in “dual use,” as a product for daily life and a product for war. A gyroscope or a more advanced GPS chip might help improve a smartphone’s capabilities, but they can also help to guide a missile.

Posted inRegulatory Enforcement

U.K. reins in crypto firms to combat ‘scandal’ of freewheeling finfluencers

Up to 25,000 people a year in the U.K. are illegally promoting financial products or offering financial advice on social media, but none have yet appeared in court, according to the first Treasury Select Committee meeting on the subject of so-called “finfluencers.” Regulated financial services firms must comply with strict guidelines when they promote their products on social media and may be put at risk by unauthorised finfluencers.

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