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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2023-12-20T16:00:00
As the European Union’s AI Act sets its sights on 2026 to take full effect, experts are concerned other key jurisdictions—including the United States, United Kingdom, Canada, and China—might introduce divergent legislation that treats artificial intelligence use differently, thus making it difficult for companies to ensure compliance.
This is an especially daunting prospect, said Alastair Paterson, chief executive officer of AI tech firm Harmonic Security, considering the current AI regulation landscape of “nice words but zero penalties” is “set to change—and fast.”
The AI Act’s main thrust is to regulate AI based on the technology’s capacity to cause harm. It follows a “risk-based” approach—the higher the risk, the stricter the rules.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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2024-04-01T13:22:00Z By Neil Hodge
The European Union’s AI Act follows a risk-based approach: the higher the risk the artificial intelligence poses, the stricter the rules. Understanding each category is key to compliance.
2024-03-27T13:27:00Z By Neil Hodge
TikTok and X are under investigation related to their respective compliance with the European Union’s Digital Services Act, while the first three companies probed under the Digital Markets Act include Apple, Alphabet, and Meta.
2024-01-08T16:02:00Z By Kyle Brasseur
Election years in the United States, United Kingdom, and at European Parliament, along with ongoing geopolitical tensions, make 2024 difficult to predict—aside from the expectation compliance officers will be busy.
2024-07-24T15:50:00Z By Aaron Nicodemus
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
2024-07-23T12:29:00Z By Ruth Prickett
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
2024-07-22T15:50:00Z By Aaron Nicodemus
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
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