Fintech / Regtech

Fintech / Regtech

EU Publishes Draft Code of Practice for General-Purpose AI

By Thisanka Siripala | 20/11/2024

The draft Code of Practice sets out 22 measures for providers of general-purpose AI models, aiming to foster accountable and human-centric AI development.

Fintech / Regtech

BIS Launches GenAI Project to Improve ‘Inflation Nowcasting’

By Manesh Samtani | 20/11/2024

Project Spectrum will use GenAI to automatically categorise billions of individual product descriptions and price observations to improve inflation nowcasting.

Capital / Liquidity

FSB Urges G20 Leaders to Fully Implement Agreed Reforms

By Mark Johnston | 20/11/2024

FSB Chair Klaas Knot emphasises the importance of addressing financial system vulnerabilities, including through the full and timely implementation of agreed reforms.

Fintech / Regtech

Australia Sets Out Roadmap for Ending Cheque Use

By Sanday Chongo Kabange | 19/11/2024

Cheques will stop being issued by mid-2028 and stop being accepted on 30 September 2029.

Fintech / Regtech

RBI to Launch Public Cloud for Financial Services Industry

By Editors | 19/11/2024

The RBI programme will use only local IT firms to offer cloud data storage to financial firms at affordable prices.

Enforcement

ASX Files Defence in ASIC’s Misleading Statements Case

By Sanday Chongo Kabange | 19/11/2024

CEO Helen Lofthouse said there was a “reasonable basis” for the statements ASX made about the CHESS replacement project’s progress on 10 February 2022 and it did not breach the law.

Fintech / Regtech

SEBI Proposes Reforms to Make Firms Responsible for AI Use

By Nithya Subramanian | 19/11/2024

SEBI is proposing amendments that will make MIIs, intermediaries and other regulated entities accountable for their use of AI/ML tools.

Fintech / Regtech

FSB Flags Growing Risks of AI Adoption in Financial Services

By Thisanka Siripala | 19/11/2024

New FSB report identifies AI-related vulnerabilities in the financial sector that can potentially increase systemic risk.

Fintech / Regtech

HKMA Asks Merchant Acquiring Banks to Promote Mobile POS

By Sanday Chongo Kabange | 19/11/2024

Banks are asked to promote adoption of mobile POS terminals by merchants to help expand coverage “as far as practicable”.