Governance
EU AI Act leaves agents in regulatory limbo
A new paper published by AI ethicists draws attention to a hole in the EU AI Act surrounding high-risk agentic systems.
The rise of AI politics
Whether they like it or not, firms are operating in the era of AI politics. David Hardoon says those who ignore that and treat AI as just another technology risk losing ground to others.
Blue water rafting: How RBC’s AI Group is navigating the AI rapids
After forming its new AI Group, RBC is building a governance layer to help minimize risks posed by agentic AI.
Market participants voice concerns as landmark EU AI Act deadline approaches
Come August, the EU’s AI Act will start to sink its teeth into Europe. Despite the short window, financial firms are still wondering how best to comply.
Fintechs grapple with how to enter Middle East markets
Intense relationship building, lack of data standards, and murky but improving market structure all await tech firms hoping to capitalize on the region’s growth.
‘The end of the beginning’: Brown Brothers Harriman re-invents itself
Voice of the CDO: Firms who want to use AI successfully better start with their metadata, says BBH’s Mike McGovern and Kevin Welch.
50% of firms are using AI or ML to spot data quality issues
How does your firm stack up?
Moody’s exploring blockchain’s impact on digital bond ratings
Blockchain and crypto were meant to eliminate conventional finance’s risks, but Risk Live North America panelists said such risks have not been reduced, and new ones have been introduced.
Banks weigh how to embed GRC in AI
Having governance, risk, and compliance at the core of AI product development will offer explainability and auditability, bank execs said.
Is 2027 the new 24-hour trading target?
Slew of technical issues and dearth of SEC staff compound exchanges’ reluctance for round-the-clock equity trading.
Waters Wavelength Ep. 327: Standard Chartered’s Mo Rahim
He joins the podcast to discuss data and AI governance and guardrails for AI.
Generative AI brings testing times for modelers
Flagstar’s lead model validator offers some tips for safely integrating LLMs into risk models.
The art of communication: Data pros need better messaging
As the CDO of a tier-one bank puts it, when there’s an imbalance in communication between the data organization and the business (much less other technology heads) “that creates problems.”
Northern Trust offers internal fund accounting, data tools to clients
Regulations and a mandate to enhance quality and transparency in a bid to improve the investor experience are pushing buy-side firms to have more oversight of their third-party providers.
$135.6m fines prompt Citi to modernize infrastructure, controls
The bank was hit with a combined $135.6 million fine on Wednesday for failing to resolve “longstanding internal controls and risk issues,” amid continued internal work across the enterprise.
AFTAs 2023 winner's interview: Northern Trust
Northern Trust won Best reporting initiative in the 2023 American Financial Technology Awards.
Hot topic: SEC climate disclosure rule divides industry
Proposal likely to flounder on First Amendment concerns, lawyers believe.
The IMD Wrap: AI efforts will force renewed focus on data in 2024
Machine learning and generative AI offer a tremendous opportunity to help users obtain more insights from raw data, but these tools first need perfect datasets on which to base their decisions.
Ignoring ESG data simply doesn’t make business sense
There’s a brewing controversy about “woke” ESG investments. But politics aside, ESG as a dataset brings more transparency to investment decisions.
Gleif hopes to entice LEI laggards with new digital identifier
The vLEI has ambitions to become the backbone of digital trust.
Google urges regulators, market participants to clarify risk guidance for AI models
A new whitepaper from Google finds that existing guidance on the use of AI and ML models for risk management is a start, but leaves room for improvement.