On October 28, 2024, the U.S. Department of the Treasury (Treasury) issued final regulations (“Final Rule”) implementing Executive Order 14105, which addresses investments by U.S. persons in certain identified technologies in “Countries of Concern”, including The People’s Republic of China, The Special Administrative Region of Hong Kong, and The Special Administrative Region of Macau. The
AI rules and risks
As the landscape of AI regulation in Australia evolves to deal with the risk of AI-enabled disinformation, fraud, and privacy breaches, the Government has announced proposals for consumer law reforms to strengthen consumer guarantees, ban unfair trading practices and introduce artificial intelligence (AI) specific protections.
Treasury has published a discussion paper Review of AI and
SEC Outlines 2025 Examination Priorities
Key risk areas for SEC registrants include standards of conduct, complex products, cybersecurity, digital engagement, and artificial intelligence.
By Latham & Watkins Investment Funds — Regulatory Strategy, Financial Regulatory, FinTech, and Commodities and Derivatives Regulation & Enforcement practices
On October 21, 2024, the Securities and Exchange Commission’s (SEC) Division of Examinations (the Division)
Engaging with the machine: AI and financial stability − speech by Sarah Breeden
On 31 October 2024, Sarah Breeden (Deputy Governor, Financial Stability, Bank of England (BoE)) gave a speech at the HKMA-BIS Joint Conference on Opportunities and Challenges of Emerging Technologies in the Financial Ecosystem. In this speech, Ms Breeden explores the novel features of Generative AI (GenAI), and how we can uphold financial stability whilst harnessing
CFPB Warns Employers Regarding FCRA Rules for AI-Driven Worker Surveillance
On October 24, the CFPB issued Circular 2024-06, which warns companies using third-party consumer reports, particularly surveillance-based “black box” or AI algorithmic scores, that they must follow the Fair Credit Reporting Act with respect to the personal data of their workers. This guidance adds to the growing body of law that protects employees from
Tech Snippets Today – Perry Carpenter – Chief Human Risk Management Strategist – KnowBe4
Today, any image, video, or audio can be fabricated to extent that it is nearly, or almost impossible to tell. This show focuses on how we can combat AI deepfakes, deception and disinformation. My guest Perry Carpenter – Chief Human Risk Management Strategist at KnowBe4 has written a book, “FAIK: A Practical Guide to Living
Hitting the Trifecta for AGI: A Journey Toward Artificial General Intelligence
AGI is likely around the corner. We need to mentally prepare for it. Here are three avenues as I see this unfold.
Recently at a talk in Boston, I walked through these concepts with the audience.
Quick Step Back:
The adult brain has approximately 100 billion neurons, it orchestrates over 100 trillion connections—far outstripping the
Privacy guides on AI for organisations
The OAIC has published 2 new privacy guides on artificial intelligence (AI) for organisations:
- Guidance on privacy and the use of commercially available AI products: The aim of this guide is to assist organisations to comply with privacy obligations when using commercially available AI products and contains checklists to help them to select an
Bank Policy Institute critiques Notice of Proposed Rulemaking to modernize AML/CFT programs
The Bank Policy Institute (“BPI”) has issued its comment on the Federal Functional Regulators’ (the OCC, the Board of Governors of the Federal Reserve System, the FDIC, and the National Credit Union Administration) notice of proposed rulemaking (“NPRM”) to modernize financial institutions’ anti-money laundering and countering terrorist financing (“AML/CFT”) programs (“Comment”). The agencies’ NPRM, on
FCA speech on ten years of innovation and launch of new AI Lab
On 17 October 2024, the Financial Conduct Authority (FCA) published a speech on “Ten years of FCA innovation: impact and opportunity” which was delivered by its chief data, information and intelligence officer, Jessica Rusu, at an FCA Innovation 10th anniversary event.
FCA innovation over the past 10 years
The speech notes that 10 years ago,