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AI Risk & Governance
Reporting on regulatory approaches, ethical considerations, and risk management for AI technologies deployed in financial services and markets.
AI Risk & Governance
Taiwan FSC to Establish New Rules for Robo-Advisor Services
By Editors | 15/08/2023
Robo wealth management services are currently being offered by 16 financial institutions. Legislation will be ready in H1 2024.
AI Risk & Governance
RBI Awards AI-based SupTech Contract to McKinsey, Accenture
By Editors | 14/08/2023
The RBI invited expressions of interest last September. The $10mn contract has now been awarded to McKinsey and Accenture.
Payments & Settlements
RBI Announces Planned Upgrades to UPI System
By Editors | 13/08/2023
One new feature will enable users to initiate UPI transactions by conversing with an AI-powered system. Japan is exploring a potential UPI linkage.
AI Risk & Governance
US Issues Executive Order to Further Limit Investment in Chinese Tech
By Editors | 10/08/2023
The order targets investments in advanced computer chips, microelectronics, quantum information technologies, and artificial intelligence.
AI Risk & Governance
MAS Earmarks S$150m to Propel Innovation in Financial Sector
By Editors | 08/08/2023
MAS earmarked SGD 150 million for financial tech advancements, aiming to foster innovation and support the evolving fintech ecosystem.
Credit Risk
EBA Issues Report on the Use of Machine Learning for IRB Models
By Manesh Samtani | 07/08/2023
The report proposes a set of principle-based recommendations to ensure the appropriate use of ML techniques by institutions in the context of IRB models.
AI Risk & Governance
MAS Says Risk of ‘Herding’ from AI Use is Low
By Editors | 02/08/2023
MAS chairman Lawrence Wong addressed queries on the impact of AI on trading platforms in financial markets.
Data Privacy
US Plans More Investment Curbs on China as France Bolsters Bilateral Ties
By Editors | 01/08/2023
Amid rising US-China tensions, Biden plans further tech investment curbs. Yet, France is fostering deeper economic cooperation with China.
Data Privacy
China Appoints Ex-Telecom Exec to Head Up New Data Regulator
By Editors | 31/07/2023
Liu Liehong’s appointment signifies the operational readiness of China’s newly-formed agency, the National Data Bureau.
AI Risk & Governance
US SEC Proposes New Rules on the Use of Predictive Analytics and AI
By Editors | 31/07/2023
SEC proposes new rules to address conflicts in broker-dealers’ and investment advisers’ use of predictive analytics and AI.
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