- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
NICE Actimize, a NICE Systems business and provider of financial crime, risk and compliance software for the financial services industry, recently announced the launch of its next-generation Actimize Cross-Asset Cloud Markets Surveillance solution, featuring Foreign Exchange (FX) and case Management capabilities. The solution targets foreign exchange, equities, fixed income, futures ...
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For all the hype surrounding generative artificial intelligence, the technology has been met with a healthy skepticism in the compliance community. Compliance practitioners want to know: Is it safe? Can it be deployed ethically? Are the risks greater than the rewards? And what should an AI acceptable use policy contain?
The other shoe finally dropped for Raytheon and parent company RTX, as two U.S. regulators announced nearly $1 bilion in penalties to settle defective pricing in defense contracts, false claims related to inflated prices on government contracts, and bribes paid to government officials in Qatar that violated the FCPA.
Concerns about how robustly European member states may enforce the EU AI Act, which took effect on Aug. 1, are divided between if regulators will take a “light touch” approach or a sledgehammer for noncompliance. One thing’s for sure, the pace of AI innovation will make enforcement very difficult.
