Stand the resilience test – OSFI adds to the operational resilience conversation
In line with measures other regulators have taken, OSFI released its final Guideline E-21 on operational risk and resilience, which outlines expectations for firms to prepare for and respond to disruptive events that could affect business operations.
Generation AI: What are the recordkeeping rules for generative AI platforms?
Generative AI platforms like ChatGPT have presented financial services with tremendous opportunity and tremendous risk – but how are firms beginning to use them within operations, and what are the implications of these practices? Regulators, including FINRA, have weighed in with enforcements and requirements on how to best proceed in navigating the landscape of AI technologies as they become more multifaceted.
Five developments to show why operational resilience should be on your radar
Operational resilience is an essential practice to remain protected in a landscape of intensifying cyber threats. Regulators have taken steps to demonstrate their increasing focus on this matter by implementing guidelines, frameworks, and direction to preserve security.
How are financial regulators approaching AI integration?
Regulators globally have been implementing a variety of measures to manage the utilization of AI within the financial sector. We take a look at the key approaches so far.
What is SEC Rule 18a-6? Ensure you are ready for implementation
Last year, SEC Rule 18a-6 was amended alongside Rule 17a-4, marking the first time SBSDs and MSBSPs became subject to regulatory requirements around electronic recordkeeping. As the compliance date for this rule approaches, what steps do swap-dealers and participants need to take to ensure regulatory compliance?
CFTC Commissioner urges regulatory reforms to keep pace with technology
CFTC Commissioner Christy Goldsmith Romero’s recent remarks on keeping pace with evolving technologies like social media and AI highlight their ability to assist regulators by strengthening protection, broadening financial information outreach, and easing accessibility.
Pressing pause on AI: can regulation keep pace with innovation?
Elon Musk and other technology luminaries have called for a halt to the training of AI while governance systems are “rapidly accelerated”. The UK government has published its principles-based approach.
Putting the AI in compliance: ChatGPT and FTC warnings
Developments in artificial intelligence have never been more prominent, but what are the compliance implications for fast-evolving AI?