- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
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The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
As artificial intelligence (AI) continues to advance rapidly and organizations expand their usage to optimize efficiency and productivity, implementing internal AI policies to ensure regulatory compliance and minimize exposure remains a hot topic.
Regulators across the globe are chomping at the bit to supervise how businesses use artificial intelligence, prompting experts to encourage compliance to get involved in the decision-making process regarding the technology.
