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Financial Services Industry Regulatory Oversight Artificial Intelligence

Mayer Brown

FINRA Reminds Members of Regulatory Obligations When Using Generative Artificial Intelligence (AI) and Large Language Models

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On June 27, 2024, the Financial Industry Regulatory Authority, Inc. (“FINRA”) issued Regulatory Notice 24- 09 (the “Notice”) reminding member firms that FINRA’s rules and the securities laws apply to the use of artificial...more

BakerHostetler

CFTC Sharpens Focus on Artificial Intelligence with Appointment of Chief Artificial Intelligence Officer

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In October 2023, the Biden Administration released an Executive Order on governing the development and use of AI in a safe and responsible manner, while working with federal agencies to regulate and disperse the benefits of...more

Kohn, Kohn & Colapinto LLP

The Double-Edged Impact of AI Compliance Algorithms on Whistleblowing

As the implementation of Artificial Intelligence (AI) compliance and fraud detection algorithms within corporations and financial institutions continues to grow, it is crucial to consider how this technology has a twofold...more

Goodwin

The FCA’s AI Update: Integrating The UK Government’s 5 Principles

Goodwin on

In our previous alert AI and Machine Learning in UK financial services, we discussed the response in FS 2/23 of the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) to its discussion paper on...more

K&L Gates LLP

Brussels Regulatory Brief: February 2024

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Antitrust and Competition - The European Commission Carried Out Unannounced Inspections in the Tires Sector - On 30 January 2024, the Commission conducted dawn raids at the premises of several companies active in the tires...more

American Conference Institute (ACI)

[Event] 8th Forum on FinTech & Emerging Payment Systems - April 9th - 10th, New York, NY

ACI’s 8th Annual Legal, Regulatory, and Compliance Forum on Fintech & Emerging Payment Systems will provide in-depth guidance on the latest regulatory developments at the Federal and State Level that you need to be aware of....more

Alston & Bird

The Digital Download – Alston & Bird’s Privacy & Data Security Newsletter – February 2024

Alston & Bird on

Selected U.S. Privacy and Cyber Updates - NYDFS Releases Circular Letter on Use of AI in Insurance Underwriting and Pricing - On January 17, 2024, the New York State Department of Financial Services (NYDFS) issued a proposed...more

Carlton Fields

FINRA Issues 2024 Annual Regulatory Oversight Report

Carlton Fields on

FINRA issued its 2024 Annual Regulatory Oversight Report on January 9, 2024, providing a glimpse into FINRA’s current regulatory oversight of member firms and their registered personnel in 27 topic areas....more

Mayer Brown Free Writings + Perspectives

FINRA Publishes 2024 Annual Regulatory Oversight Report

New Topics and Content Highlight FINRA’s Increased Focus on Cybersecurity, Crypto Assets, Artificial Intelligence, Market Integrity, Off-Channel Communications and Other Key Risk Areas - On January 9, 2024, the Financial...more

Troutman Pepper

AI: Impact and Use in the Financial Services Industry (Part Four) - Regulatory Oversight Podcast

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Financial services companies are using AI to assist with many business processes, including underwriting decisions, consumer credit approval, servicing and collections, loss mitigation programs, customer interaction on...more

Pillsbury - Global Sourcing Practice

Regulated Industries and AI Systems

Innovation has historically been driven by companies in regulated industries—e.g., financial services and health care—and some of the most intriguing use cases for generative AI systems will likely transform these industries....more

McDermott Will & Emery

Insurance Regulators Continue Big Data Scrutiny

We previously reported on regulators’ increased attention to the use of big data systems, including external consumer data and information sources, algorithms and predictive models. Recent announcements in Colorado, Louisiana...more

K&L Gates LLP

Brussels Regulatory Brief: December 2022

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ANTITRUST AND COMPETITION - EU Foreign Subsidies Regulation Expected to Enter into Force by Mid-2023 - On 28 November 2022, the Council of the European Union adopted the Foreign Subsidies Regulation (FSR), which granted the...more

K&L Gates LLP

Brussels Regulatory Brief: October 2022

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ANTITRUST AND COMPETITION - Commission Adopted the Revised Informal Guidance Notice for Novel or Unresolved Competition Issues - Following a public consultation, the European Commission (Commission) published on 3 October...more

Pillsbury - Internet & Social Media Law Blog

Artificial Intelligence and Regulatory Compliance

Regulators at the state and federal level are increasing their scrutiny of businesses’ use of artificial intelligence (AI). For example, recently, representatives from the Office of the Comptroller of the Currency and the New...more

Perkins Coie

Fintech Week in Review - June 2021

Perkins Coie on

Federal Financial Regulators Extend Deadline for RFI on AI - On May 17, 2021, five financial regulatory agencies announced a deadline extension for the ongoing comment period on financial institutions’ use of AI from June...more

Robins Kaplan LLP

Financial Daily Dose 3.16.2020 | Top Story: U.S. Stocks Continue to Tumble Amid COVID-19

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U.S. stocks continue to tumble, sinking by “8.1% at the open, triggering a 15-minute trading halt;” “Brent crude sank below $30 a barrel;” treasuries surged despite major moves from the Federal Reserve; and market sentiment...more

Orrick, Herrington & Sutcliffe LLP

Anche l'Italia avrà la sua regulatory sandbox

La legge 28 giugno 2019, n. 58 ("Legge 58/2019") ha convertito con modificazioni il decreto legge 30 aprile 2019, n. 34 (c.d. "Decreto Crescita"), introducendo un'importante novità in materia di regolamentazione bancaria,...more

Troutman Pepper

New York Signals the Importance of Technology in Consumer Financial Protection

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The New York Department of Financial Services (NYDFS) recently surprised financial services’ compliance and legal professionals by announcing the creation of a “Consumer Protection and Financial Enforcement Division.”...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - February 2019 #2

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To illustrate just how creative phishing campaigns have become, on January 30, 2019, it was reported by multiple credit unions that Bank Secrecy Act officers at credit unions around the country received emails that appeared...more

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