AI, Technology & Data

Cybersecurity

EU Cyber Resilience Act Published in Official Journal

By Thisanka Siripala | 23/11/2024

Non-compliance can result in fines up to 2.5 percent of the offender’s total worldwide annual turnover for the preceding financial year.

Data Privacy

China’s TC260 Issues Guidelines on GBA Personal Data Flows

By Editors | 23/11/2024

The guidelines set requirements for information processors and recipients in Mainland China and Hong Kong to ensure secure cross-border flow of personal information.

AI Risk & Governance

EU and Singapore Strengthen Cooperation on AI Safety

By Nithya Subramanian | 21/11/2024

The US also launched the “International Network of AI Safety Institutes” to drive alignment and encourage safe, secure, and trustworthy AI innovation around the world.

AI Risk & Governance

IAIS Publishes Paper on Supervision of AI in Insurance Sector

By Editors | 21/11/2024

The paper aims to support supervisors when applying the Insurance Core Principles to promote appropriate and globally consistent oversight of the use of AI within the insurance sector.

AI Risk & Governance

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.

AI Risk & Governance

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.

Structural Regulation

S. Korea and Poland to Boost Cooperation on Banking

By Mark Johnston | 20/11/2024

About 370 Korean companies operate in Poland, but none are financial companies. The MOU will enable Korean banks to expand to Poland.

Capital Adequacy

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.

Cloud & Infrastructure

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.