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FCA sets out plans to make Big Tech a priority and provides update on its approach to AI

Data Protection Report

The speech also covered the FCA’s response to the Government’s White Paper on Artificial Intelligence ( AI ), which was also published in parallel with the speech. In the speech, Mr Rathi announced the FCA’s plans to focus on Big Tech, which are included in Feedback Statement FS24/1 (published alongside the speech).

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UK regulators’ strategic approaches to AI: a guide to key regulatory priorities for AI governance professionals

Data Protection Report

Background – white paper response on the UK’s approach to AI regulation In February 2024, the UK Department for Science, Innovation, and Technology (DSIT) set out the government’s proposed approach to AI regulation. Accountability and governance. Contestability and redress. DSIT published the responses to these letters on 1 May 2024.

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Digitizing the credit management journey

CGI

Credit granted too freely harms markets by increasing the likelihood that borrowers will default. For many organizations, legacy business rules, processes and systems slow their responsiveness to changing market conditions. Today’s market leaders know, however, that change is unavoidable.

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Open APIs: A coming of age

CGI

One of the hottest topics at this year’s Sibos conference in Geneva, Switzerland was open APIs (application programming interfaces), and how their introduction is causing concern among some financial institutions, while offering promising opportunities for early adopters. Defining the data dictionary and data model. How should banks respond?

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New York State Department of Financial Services Challenges OCC Authority on Fintech Charters

Data Matters

The Fintech Charter Decision is discussed in greater detail in a prior Sidley Banking and Financial Services Update. Constitution, alleging that the police power to regulate financial services and products delivered within a state’s own geographical jurisdiction is among a state’s fundamental sovereign powers.

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Regulatory Update: NAIC Summer 2019 National Meeting

Data Matters

The New York State Department of Financial Services recently amended its annuity suitability regulation to apply a “best interest” standard in connection with both life insurance and annuity transactions with consumers. NAIC Adopts White Paper on Understanding the Market for Cannabis Insurance.

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The time for government blockchain proofs of concept is now

CGI

For the past two years, CGI has seen an exponential uptick in commercial sector interest in blockchain beyond just the financial services industry. Since its launch, 700 other blockchain platforms have been introduced into the market. The time for government blockchain proofs of concept is now. Tue, 05/15/2018 - 06:29.